Adani Power Share Price in Focus; Announces Q3 FY26 Results

Adani Power Limited announced its financial results for the quarter ended December 31, 2025, delivering a resilient performance despite temporary power demand disruptions and lower market tariffs. 

Power Sector and Demand Overview

All-India power demand during Q3 FY26 declined marginally by 0.1% year-on-year to 392.2 billion units, mainly due to extended monsoon conditions, cooler temperatures, and a high base effect. However, power demand for the first nine months of FY26 rose by 0.5% to 1,287 billion units, indicating steady underlying consumption growth. 

Meanwhile, power prices remained under pressure, with the average market clearing price in the IEX Day Ahead Market declining by 13.2% year-on-year in Q3 FY26 and by 14.1% in 9M FY26.

Q3 FY26 Operational and Financial Highlights

During the quarter, Adani Power secured a new long-term power purchase agreement of 3,200 MW from Assam DISCOM, strengthening its revenue visibility. Consolidated power sale volumes rose to 23.6 billion units compared to 23.3 billion units in Q3 FY25, despite weather-related demand disruptions. 

Continuing consolidated total revenue stood stable at ₹12,717 crore, compared with ₹13,434 crore a year ago, reflecting lower tariffs and reduced other income.

The company reported robust continuing EBITDA of ₹4,636 crore for Q3 FY26, only marginally lower than ₹4,786 crore in the corresponding quarter last year, highlighting operational resilience. 

Continuing profit before tax increased by 5.3% year-on-year to ₹2,800 crore, aided by lower finance costs. Continuing profit after tax stood at ₹2,488 crore, impacted mainly by lower one-time prior period income.

9M FY26 Performance Snapshot

For the first nine months of FY26, consolidated power sale volumes grew 3.4% to 71.8 billion units due to higher effective operating capacity. Continuing total revenue for 9M FY26 was ₹40,524 crore, slightly lower year-on-year due to lower power selling rates. Continuing EBITDA stood at ₹15,713 crore, while profit after tax was ₹8,700 crore, affected by lower one-time income and higher depreciation from newly acquired assets.

Strategic Developments and Capacity Expansion

Adani Power raised ₹7,500 crore through AA-rated non-convertible debentures to fund capacity expansion. The company added new PPAs totaling 3.2 GW, taking total expansion capacity tie-ups to 11.7 GW, with nearly 90% of existing capacity now secured under long-term PPAs. The recently acquired 600 MW Butibori power plant became fully operational within four months, enhancing operational scale.

Adani Power Share Price Performance

On January 30, 2026, Adani Power share price opened at ₹133.00, slightly down from its previous close of ₹133.88. At 10:00 AM, the share price of Adani Power was trading at ₹134.46, up by 0.43% on the NSE.

Also Read: Adani Power Increases Electricity Export to Bangladesh!

Conclusion

Adani Power’s Q3 FY26 performance underscores its earnings resilience amid temporary demand softness and lower power prices. Strong long-term PPAs, disciplined cost management, and strategic capacity additions position the company well for sustained growth as power demand normalises.

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