Adani Power witnesses a turnaround in profit for FY16

Adani Power (APL) declared its Q4FY16 results on May 3. The company’s revenue has increased by 57.35 per cent to Rs 7344 crore in Q4FY16 as compared to same period in previous financial year. Its EBITDA has boosted by more than double to Rs 3159 crore in Q4FY16 on a yearly basis. APL’s EBITDA margin has considerably expanded to 43.01 per cent in Q4FY16 from 25.66 per cent in Q4FY15. The company’s interest expense has increased by 16.77 per cent to Rs 1547 crore in Q4FY16 on a yearly basis. Its PAT also has risen by 64.1 per cent to Rs 1173 crore in Q4FY16 as compared to same period in previous fiscal year.

On a yearly basis, APL’s top line has increased by 29.1 per cent to Rs 25232 crore in FY16. Its revenue increased because of higher operational capacity of 10413 MW in FY16 as compared to 8891 MW in FY15. The company’s EBITDA also has risen by 46.54 per cent to Rs 8553 crore in FY16 as compared to previous financial year. Its EBITDA margin has expanded by 404 basis points to 33.9 per cent in FY16 on a yearly basis. APL’s interest expense has increased simultaneously by 11.08 per cent to Rs 5964 crore in FY16 as compared to previous fiscal year. The company has reported a net profit of Rs 489 crore in FY16 against net loss of Rs 816 core in FY15. Its net profit margin stands at 1.94 per cent in FY16.

The share price of APL has increased by 3.79 per cent on bourses in early trades; and is trading at Rs 32.45 on an intraday basis.

APL is in the business of providing electric power generation via coal based thermal power plants. The company together with its subsidiaries has three power projects with a combined installed and commissioned capacity of 9240 megawatts (MW). Its business activity has been undertaken at the company's Mundra Thermal Power Plant in Gujarat and Thermal Power Plant of its subsidiaries at Tiroda (Maharashtra) and at Kawai (Rajasthan). APL operates approximately 10,440 MW generation capacity consisting of 4,620 MW at Mundra, Gujarat; 3,300 MW at Tiroda, Maharashtra; 1,320 MW at Kawai, Rajasthan; and 1,200 MW at Udupi, Karnataka.