Adani Power Limited (APL) has made significant strides toward achieving its target of 30+ GW of generation capacity by 2030, with rapid advancements in its under-construction projects. The company also continues to enhance its supply chains and secure long-term Power Purchase Agreements (PPAs).
Mr SB Khyalia, CEO of Adani Power, emphasized that the company remains well-positioned to capitalize on the growing power demand in India and is focused on maintaining operational excellence and sustainability.
Strong Financial Results for Q3 FY25
Adani Power recently announced its financial results for the third quarter ending December 31, 2024. The company achieved growth in several key operational metrics. Installed capacity stood at 17,550 MW in Q3 FY25, a significant increase from 15,250 MW in Q3 FY24.
Furthermore, the Plant Load Factor (PLF) improved to 63.9% from 68.6%, while units sold rose to 23.3 billion units in Q3 FY25 compared to 21.5 billion units in Q3 FY24.
In terms of power demand, the all-India power demand grew by 4.3% to 393 billion units (BU) in Q3 FY25, with a strong pickup in December 2024, showing a growth of 5.7% compared to the previous year.
Business Developments and Strategic Initiatives
APL has been proactive in strengthening its market position through strategic acquisitions and expansions. The company filed a Scheme of Amalgamation with the National Company Law Tribunal (NCLT) to merge its wholly owned subsidiary, Adani Power (Jharkhand) Ltd., with itself.
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This move is aimed at improving operational efficiency, enhancing the credit profile, and reducing borrowing costs for the combined entity.
In addition, APL’s subsidiary, Mahan Energen Ltd. (MEL), successfully acquired and amalgamated Stratatech Mineral Resources Pvt. Ltd., a company with a commercial mining license for the Mahan coal block in Madhya Pradesh. Coal from this mine will be used to fuel MEL’s 1,200 MW power plant located at the same site.
Financial Performance Overview
For the third quarter of FY25, APL reported a slight decline in continuing revenue from operations, totaling Rs 12,691.83 crore compared to Rs 13,143.34 crore in Q3 FY24, a decrease of 3.4%. However, total continuing revenue showed modest growth of 0.2%, reaching Rs 13,433.76 crore, reflecting the stability of the company’s core operations.
Notably, APL recorded a 21.9% increase in continuing EBITDA for 9M FY25, driven by higher recurring revenues and lower fuel costs. However, Q3 FY25 saw a flat trend in EBITDA due to lower merchant tariffs. Profit Before Tax (PBT) for Q3 FY25 grew by 26.4% compared to Q3 FY24, largely due to a one-time prior period income recognition of Rs 1,400 crore.
ESG Achievements and Recognition
APL’s commitment to sustainability has garnered international recognition. The company received an award for its exemplary sustainability practices at the Times Now Sustainable Organisation 2024 summit.
Furthermore, APL scored 67 out of 100 in the Corporate Sustainability Assessment (CSA) by S&P Global in November 2024, marking an improvement from last year’s score of 48. This placed APL in the 86th percentile, well above the global industry average.
APL’s water intensity in Q3 FY25 was 2.12 m3/MWh, significantly lower than the statutory limit, reflecting its efforts in water conservation. The company also achieved over 100% fly ash utilization across nearly its entire fleet during the quarter.
Strategic Focus on Growth and Innovation
Adani Power continues to focus on expanding its thermal and renewable energy portfolio, aiming to meet India’s steadily growing power demand. With ongoing investments in technology, innovation, and sustainability, APL is positioning itself as a key player in India’s power sector.
The company is also advancing its backward integration into coal mining and expanding its digital operations to increase competitiveness and future-readiness. These efforts align with its goal to transform India into a power-surplus nation while providing quality and affordable electricity for all.
About Adani Power
Adani Power, part of the globally diversified Adani Group, is India’s largest private thermal power producer. The company operates an installed thermal power capacity of 17,510 MW across eleven plants in key states, including Gujarat, Maharashtra, Karnataka, and Rajasthan, as well as a 40 MW solar power plant in Gujarat.
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