Reliance Power Ltd.

•

reliancepower.co.inBSE: 532939NSE: RPOWER

Market Cap₹ 8,929 Cr.

Current Price

High / Low₹ 51 / 20

Stock P/E—

Book Value₹ 35

Price to Book0.58

Dividend Yield0.00 %

ROCE5.1 %

ROE-2.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2016 • Power Generation: 100.0%

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 21.54x)
Latest quarter profit grew 44.8% YoY, showing strong momentum
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Recent results are weak - TTM profit is down 193.1% versus prior year
Company has a low return on equity of 0.3% over last 3 years
Company has a low return on capital employed of 7.7%
Interest coverage is weak at 0.9x - earnings barely cover interest
Company's sales have been declining over the last five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY TOTAL MKT NIFTY SMLCAP 50 NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	ADANIPOWER	209.85	28.39	404689.32	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	333.30	11.64	323189.88	2.70	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	269.10	15.74	250279.25	3.34	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1282.00	118.37	211167.98	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1373.75	57.55	168003.37	0.00	1236.56	129.44	9711.08	42.41	9.71	31.27
6.	TATAPOWER	365.00	30.19	116629.89	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	525.45	48.97	96340.35	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.30	20.19	76643.62	2.11	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	86.90	120.64	73224.80	0.00	304.84	38.26	1106.86	62.72	3.73	91.95
10.	TORNTPOWER	1298.20	28.15	65416.76	1.54	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	264.25	11.42	36641.87	1.46	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	RPOWER	21.59	608.67	8929.13	0.00	64.71	44.83	1956.32	3.75	5.07	28.75

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,914	2,038	1,944	1,997	1,992	1,760	1,853	1,978	1,886	1,974	1,873	1,887	1,956
	1,299	1,318	2,307	1,811	1,342	1,384	1,361	1,388	1,321	1,356	1,269	1,990	1,988
Operating Profit	615	720	-364	186	651	376	492	590	565	618	604	-103	-32
OPM %	32.14%	35.32%	-18.71%	9.31%	32.66%	21.36%	26.55%	29.82%	29.97%	31.29%	32.27%	-5.46%	-1.61%
	37	79	55	157	77	3,433	307	88	140	93	77	441	147
Interest	616	716	602	517	551	562	544	399	426	395	371	474	387
Depreciation	257	259	258	287	250	243	204	211	207	208	210	205	207
Profit before Tax	-221	-177	-1,169	-461	-73	3,004	50	67	72	108	100	-426	116
Tax %	-32.67%	-56.31%	-7.55%	9.99%	-34.02%	4.18%	15.90%	-87.00%	38.20%	19.30%	74.92%	-16.06%	44.18%
Net Profit	0	0	0	0	-98	2,878	42	126	45	87	25	-494	65
	-0.79	-0.74	-3.30	-1.08	-0.24	7.16	0.10	0.31	0.11	0.21	0.06	-1.19	0.16

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	10,396	9,593	8,201	7,562	7,934	7,503	7,514	7,893	7,583	7,620	7,690
	5,889	5,207	4,232	4,599	4,359	4,768	5,649	6,735	6,025	5,257	6,603
Operating Profit	4,506	4,386	3,969	2,963	3,575	2,735	1,865	1,157	1,558	2,362	1,087
OPM %	43.35%	45.72%	48.40%	39.18%	45.06%	36.45%	24.82%	14.66%	20.54%	31.00%	14.14%
	496	278	-2,820	-3,304	459	184	1,377	328	4,455	-12	758
Interest	2,843	2,926	3,206	3,054	2,539	2,721	2,504	2,451	2,056	1,666	1,627
Depreciation	734	759	838	836	1,083	1,077	1,017	1,062	910	829	830
Profit before Tax	1,425	979	-2,896	-4,232	412	-879	-279	-2,028	3,047	-145	-101
Tax %	22.54%	14.68%	-0.61%	-0.56%	-3.62%	-4.97%	-22.91%	-10.55%	3.28%	-132.42%	-212.78%
Net Profit	1,104	836	-2,913	-4,255	427	-923	-343	-2,242	2,947	-337	-317
EPS	3.94	2.99	-14.15	-14.53	0.81	-2.98	-1.35	-5.15	7.34	-0.81	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: -3%
5 Years:: -1%
3 Years:: 0%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: -8%
5 Years:: 10%
3 Years:: 5%
1 Year:: -53%

RETURN ON EQUITY

10 Years:: -4%
5 Years:: -2%
3 Years:: 0%
Last Year:: -2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2,805	2,805	2,805	2,805	2,805	3,400	3,735	4,017	4,017	4,136
Minority Interest	0	0	0	1,353	1,568	1,622	1,692	0	0	0
	18,562	18,430	14,572	9,064	9,441	8,181	7,780	7,597	11,675	11,595
	32,086	30,102	29,085	26,151	22,579	19,418	16,988	13,352	13,463	12,866
Trade Payables	380	361	427	434	415	499	519	457	238	221
	11,254	10,492	11,204	13,609	14,093	16,810	17,903	18,422	12,019	12,558
Total Liabilities	65,087	62,190	58,095	53,416	50,901	49,930	48,617	43,845	41,412	41,376
	34,851	34,881	35,903	38,574	37,190	36,308	35,776	33,584	31,859	30,944
Capital Work in Progress	7,403	6,913	4,276	3,615	1,912	2,020	2,320	1,293	1,387	1,720
	799	280	224	30	36	37	39	209	173	142
	1,029	729	1,012	1,014	874	828	925	961	927	1,016
	0	0	0	0	0	0	0	1,650	1,521	1,310
Cash & Bank	958	916	271	284	315	644	651	918	973	1,705
	20,048	18,471	16,409	9,899	10,574	10,093	8,906	5,229	4,572	4,538
Total Assets	65,087	62,190	58,095	53,416	50,901	49,930	48,617	43,845	41,412	41,376

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,793	4,575	4,251	4,662	4,161	3,748	4,082	3,174	1,946	2,825
Cash from Investing	-2,142	354	60	-247	486	284	-354	-192	453	-212
Cash from Financing	-3,389	-4,311	-4,839	-4,200	-4,615	-3,849	-3,623	-2,734	-2,435	-1,828
	-826	408	-556	96	19	48	46	248	-44	785

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
23.24	23.26	23.26	23.26	24.98	24.98	24.98	24.98	24.98
12.71	13.12	12.95	13.21	12.93	13.09	13.25	14.12	13.64
3.06	2.88	2.79	3.29	3.60	3.75	3.05	3.12	2.79
0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00
60.98	60.72	60.98	60.24	58.49	58.18	58.70	57.76	58.58

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07

General Updates

2026-09-07 - Disclosure Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015.

2026-08-22

Copy of Newspaper Publication

2026-08-22 - Reliance Power Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-17 - Reliance Power Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-14

Shareholders meeting

2026-08-14 - Reliance Power Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 14, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-14

Shareholders meeting

2026-08-14 - Reliance Power Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 14, 2026

2026-08-06

Monitoring Agency Report

2026-08-06 - Report of the Monitoring Agency for the quarter ended June 30, 2026

2026-08-06

Outcome of Board Meeting

2026-08-06 - Reliance Power Limited has submitted to the Exchange, the financial results for the quarter ended Jun 30, 2026.

2026-07-24

Copy of Newspaper Publication

2026-07-24 - Reliance Power Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-23

General Updates

2026-07-23 - Reliance Power Limited has informed the Exchange about Letter sent to Members

News

Recent coverage and analyst commentary for RPOWER

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Reliance Power Ltd.

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Name

ADANIPOWER

209.85

28.39

404689.32

0.00

4866.60

47.24

18901.89

33.97

17.79

42.67

NTPC

333.30

11.64

323189.88

2.70

6896.44

-88.71

50740.96

7.81

8.52

33.23

POWERGRID

269.10

15.74

250279.25

3.34

3598.42

-0.89

11496.72

2.68

9.74

82.97

ADANIGREEN

1282.00

118.37

211167.98

0.00

983.00

19.30

4431.00

16.61

9.90

91.24

ADANIENSOL

1373.75

57.55

168003.37

0.00

1236.56

129.44

9711.08

42.41

9.71

31.27

TATAPOWER

365.00

30.19

116629.89

0.68

1400.86

10.98

19051.26

5.63

11.63

21.53

JSWENERGY

525.45

48.97

96340.35

0.38

532.70

-36.27

5207.13

1.24

8.50

55.22

NHPC

76.30

20.19

76643.62

2.11

1178.09

4.15

3808.31

18.50

6.16

61.80

NTPCGREEN

86.90

120.64

73224.80

0.00

304.84

38.26

1106.86

62.72

3.73

91.95

TORNTPOWER

1298.20

28.15

65416.76

1.54

661.85

-10.75

8124.15

2.75

14.37

18.93

NLCINDIA

264.25

11.42

36641.87

1.46

436.33

-48.01

4716.75

23.29

11.27

32.83

RPOWER

21.59

608.67

8929.13

0.00

64.71

44.83

1956.32

3.75

5.07

28.75

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,914

2,038

1,944

1,997

1,992

1,760

1,853

1,978

1,886

1,974

1,873

1,887

1,956

1,299

1,318

2,307

1,811

1,342

1,384

1,361

1,388

1,321

1,356

1,269

1,990

1,988

Operating Profit

615

720

-364

186

651

376

492

590

565

618

604

-103

-32

OPM %

32.14%

35.32%

-18.71%

9.31%

32.66%

21.36%

26.55%

29.82%

29.97%

31.29%

32.27%

-5.46%

-1.61%

157

3,433

307

140

441

147

Interest

616

716

602

517

551

562

544

399

426

395

371

474

387

Depreciation

257

259

258

287

250

243

204

211

207

208

210

205

207

Profit before Tax

-221

-177

-1,169

-461

-73

3,004

108

100

-426

116

Tax %

-32.67%

-56.31%

-7.55%

9.99%

-34.02%

4.18%

15.90%

-87.00%

38.20%

19.30%

74.92%

-16.06%

44.18%

Net Profit

-98

2,878

126

-494

-0.79

-0.74

-3.30

-1.08

-0.24

7.16

0.10

0.31

0.11

0.21

0.06

-1.19

0.16

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

10,396

9,593

8,201

7,562

7,934

7,503

7,514

7,893

7,583

7,620

7,690

5,889

5,207

4,232

4,599

4,359

4,768

5,649

6,735

6,025

5,257

6,603

Operating Profit

4,506

4,386

3,969

2,963

3,575

2,735

1,865

1,157

1,558

2,362

1,087

OPM %

43.35%

45.72%

48.40%

39.18%

45.06%

36.45%

24.82%

14.66%

20.54%

31.00%

14.14%

496

278

-2,820

-3,304

459

184

1,377

328

4,455

-12

758

Interest

2,843

2,926

3,206

3,054

2,539

2,721

2,504

2,451

2,056

1,666

1,627

Depreciation

734

759

838

836

1,083

1,077

1,017

1,062

910

829

830

Profit before Tax

1,425

979

-2,896

-4,232

412

-879

-279

-2,028

3,047

-145

-101

Tax %

22.54%

14.68%

-0.61%

-0.56%

-3.62%

-4.97%

-22.91%

-10.55%

3.28%

-132.42%

-212.78%

Net Profit

1,104

836

-2,913

-4,255

427

-923

-343

-2,242

2,947

-337

-317

EPS

3.94

2.99

-14.15

-14.53

0.81

-2.98

-1.35

-5.15

7.34

-0.81

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

2,805

3,400

3,735

4,017

4,136

Minority Interest

1,353

1,568

1,622

1,692

18,562

18,430

14,572

9,064

9,441

8,181

7,780

7,597

11,675

11,595

32,086

30,102

29,085

26,151

22,579

19,418

16,988

13,352

13,463

12,866

Trade Payables

380

361

427

434

415

499

519

457

238

221

11,254

10,492

11,204

13,609

14,093

16,810

17,903

18,422

12,019

12,558

Total Liabilities

65,087

62,190

58,095

53,416

50,901

49,930

48,617

43,845

41,412

41,376

34,851

34,881

35,903

38,574

37,190

36,308

35,776

33,584

31,859

30,944

Capital Work in Progress

7,403

6,913

4,276

3,615

1,912

2,020

2,320

1,293

1,387

1,720

799

280

224

209

173

142

1,029

729

1,012

1,014

874

828

925

961

927

1,016

1,650

1,521

1,310

Cash & Bank

958

916

271

284

315

644

651

918

973

1,705

20,048

18,471

16,409

9,899

10,574

10,093

8,906

5,229

4,572

4,538

Total Assets

65,087

62,190

58,095

53,416

50,901

49,930

48,617

43,845

41,412

41,376

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

4,793

4,575

4,251

4,662

4,161

3,748

4,082

3,174

1,946

2,825

Cash from Investing

-2,142

354

-247

486

284

-354

-192

453

-212

Cash from Financing

-3,389

-4,311

-4,839

-4,200

-4,615

-3,849

-3,623

-2,734

-2,435

-1,828

-826

408

-556

248

-44

785

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

23.24

23.26

24.98

12.71

13.12

12.95

13.21

12.93

13.09

13.25

14.12

13.64

3.06

2.88

2.79

3.29

3.60

3.75

3.05

3.12

2.79

0.00

0.01

0.00

60.98

60.72

60.98

60.24

58.49

58.18

58.70

57.76

58.58

Reliance Power Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Reliance Power Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI