Adani Power Q1 FY26 result: Profit down 15%; 1:5 stock split announced

Adani Power's revenue for the quarter declined 5.7 per cent year-on-year to ₹14,109.15 crore from ₹14,955.63 crore in Q1 FY25 driven by lower merchant tariffs and elevated operating expenses

Adani Power on Friday posted a consolidated net profit of ₹3,305.13 crore for the first quarter of the financial year 2025-26 (Q1 FY26), down 15.5 per cent from ₹3,912.79 crore in the same quarter last year. The drop was attributed to lower merchant tariffs and elevated operating expenses following acquisitions.

 

On a sequential basis, however, profit rose 27.2 per cent from ₹2,599.23 crore in Q4 FY25 due to higher one-time income and continuing earnings before interest, taxes, depreciation, and amortisation (Ebitda), the company said in a BSE filing.

 

Revenue from operations for the quarter declined 5.7 per cent year-on-year (Y-o-Y) to ₹14,109.15 crore from ₹14,955.63 crore in Q1 FY25. Compared to the previous quarter, revenue was marginally lower from ₹14,237.40 crore.

 

Consolidated continuing Ebitda for Q1 FY26 stood at ₹5,744 crore, down from ₹6,290 crore in the same quarter last year. However, on a sequential basis, Ebitda rose 12.7 per cent from Q4 FY25, supported by higher merchant tariffs and lower fuel and operating costs. 

 

Adani group’s electricity generation arm also said that its power sales volume grew by 1.6 per cent to 24.6 billion units (BU) in Q1 FY26, compared to 24.2 BU in the same quarter last year, despite a high base effect and demand disruption caused by early monsoons.

 

It added that it has been receiving regular payments from Bangladesh, with over $500 million received in the last two months.

 

SB Khyalia, chief executive officer of Adani Power, said that the company continued to expand its capacity through project execution and strategic acquisitions, in preparation for future growth aimed at achieving 30 Giga Watts (GW) of capacity by 2030.

 

“By securing critical equipment like Ultra-supercritical boilers, turbines, and generators ahead of schedule, we’re reinforcing our competitive edge and supporting India’s growing energy needs,” said Khyalia. Adani Power acquired Vidarbha Industries Power, which operates a 600 MW thermal plant in Maharashtra, in July 2025.

 

Company announces stock split 

The board of directors of the company also approved a stock split, subject to shareholder approval. Under the proposed sub-division, each equity share of face value ₹10 will be split into five equity shares of face value ₹2 each.

 

The firm said that the stock split is aimed at enhancing the liquidity of the company’s equity shares by encouraging greater participation from retail investors, as the reduced face value will make the shares more affordable.

 

The record date for the stock split will be decided after shareholders grant their approval, the company said in a BSE filing.

 

Shares of Adani Power were trading marginally down at ₹578 apiece on the BSE after the announcement of the results on Monday.

 

Adani Power Q1 FY26 result highlights 

• Revenue from operations: ₹14,109.15 crore
• Profit: ₹3,305.13 crore
• Earnings per share: ₹8.62 (basic and diluted)