RattanIndia Power Ltd.

•

rattanindiapower.comBSE: 533122NSE: RTNPOWER

Market Cap₹ 3,899 Cr.

Current Price

High / Low₹ 13 / 7

Stock P/E36.9

Book Value₹ 9

Price to Book0.84

Dividend Yield0.00 %

ROCE6.0 %

ROE1.0 %

Face Value₹ 10

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ABOUT

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

Latest quarter profit grew 403.8% YoY, showing strong momentum
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (840.1% of PBT)
Recent results are weak - TTM profit is down 52.3% versus prior year
Company has a low return on equity of -4.9% over last 3 years
Company has a low return on capital employed of 3.0%
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.76x)

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

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	ADANIPOWER	214.50	29.02	413656.70	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	333.25	11.64	323141.40	2.70	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	265.95	15.56	247349.56	3.38	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1314.20	121.34	216471.89	0.00	9830.00	1092.96	44310.00	1066.05	9.90	91.24
5.	ADANIENSOL	1421.90	59.57	173891.90	0.00	1236.56	129.44	9711.08	42.41	9.71	31.27
6.	TATAPOWER	369.00	30.52	117908.03	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	534.65	49.83	98027.15	0.37	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.80	20.32	77145.87	2.10	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	88.02	122.20	74168.55	0.00	3048.40	1282.62	11068.60	1527.23	3.73	91.95
10.	TORNTPOWER	1304.15	28.28	65716.58	1.53	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	271.45	11.73	37640.25	1.42	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	RTNPOWER	7.26	35.00	3898.70	0.00	458.50	3597.33	7985.50	871.52	6.26	15.65

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	847	796	806	914	932	682	733	936	822	654	728	788	799
	693	688	634	718	752	598	652	733	734	611	610	667	831
Operating Profit	155	109	172	196	179	85	81	203	88	42	118	121	-33
OPM %	18.26%	13.65%	21.38%	21.42%	19.25%	12.41%	11.05%	21.66%	10.65%	6.50%	16.24%	15.32%	-4.09%
	95	95	90	-1,155	94	98	100	101	108	99	108	76	77
Interest	136	165	141	125	121	124	116	118	148	112	110	91	86
Depreciation	57	59	60	61	61	62	63	61	62	62	63	65	63
Profit before Tax	56	-20	61	-1,145	92	-3	3	124	-15	-33	53	41	44
Tax %	25.47%	-5.28%	24.47%	4.43%	0.00%	-0.00%	0.00%	0.00%	-0.00%	-0.00%	0.00%	0.00%	0.00%
Net Profit	42	-22	46	-1,094	92	-3	3	124	-15	-33	53	41	44
	0.08	-0.04	0.09	-2.03	0.17	-0.01	0.01	0.23	-0.03	-0.06	0.10	0.08	0.08

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,335	2,015	1,909	1,774	1,560	3,260	3,231	3,364	3,284	2,991	2,968
	600	1,415	1,236	1,181	1,188	2,452	2,472	2,732	2,736	2,622	2,719
Operating Profit	735	600	673	593	372	808	759	632	548	369	249
OPM %	55.07%	29.78%	35.27%	33.43%	23.83%	24.78%	23.49%	18.78%	16.69%	12.33%	8.38%
	169	224	-2,157	2,887	617	353	350	-875	393	391	360
Interest	1,017	997	1,075	1,354	664	586	534	568	479	461	399
Depreciation	208	239	233	228	228	227	222	237	247	252	253
Profit before Tax	-321	-411	-2,792	1,899	97	348	353	-1,048	216	47	106
Tax %	-0.00%	-1.68%	-0.00%	0.00%	0.00%	0.00%	5.77%	1.94%	0.00%	0.00%	0.00%
Net Profit	-321	-418	-2,792	1,899	97	348	333	-1,028	216	47	106
EPS	0.00	0.00	0.00	0.00	0.19	0.65	0.62	-1.91	0.40	0.09	—
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:: 2%
5 Years:: 14%
3 Years:: -3%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -14%
3 Years:: -48%

STOCK PRICE CAGR

10 Years:: -3%
5 Years:: 9%
3 Years:: 0%
1 Year:: -41%

RETURN ON EQUITY

10 Years:: -4%
5 Years:: 0%
3 Years:: -5%
Last Year:: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2,953	2,953	2,953	4,940	5,370	5,370	5,370	5,370	5,370	5,370
	2,004	1,654	-1,135	-190	-441	-94	238	-790	-575	-528
	8,558	8,471	7,911	6,689	5,937	5,334	4,749	4,361	4,132	3,793
Trade Payables	12	45	14	11	27	87	129	157	173	154
	642	1,325	2,174	375	418	523	642	684	906	1,029
Total Liabilities	14,169	14,449	11,916	11,825	11,310	11,220	11,128	9,782	10,006	9,817
	7,415	7,424	7,193	6,968	6,741	6,533	6,384	6,381	6,216	6,057
Capital Work in Progress	737	650	646	99	99	109	77	67	65	21
	3,372	3,529	1,760	1,831	1,227	1,263	1,241	0	0	0
	71	142	432	644	268	127	127	238	263	202
	0	0	0	0	0	0	0	2,064	2,435	2,757
Cash & Bank	82	158	35	114	241	263	232	462	362	75
	2,491	2,546	1,849	2,169	2,733	2,924	3,067	569	663	705
Total Assets	14,169	14,449	11,916	11,825	11,310	11,220	11,128	9,782	10,006	9,817

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,219	319	854	616	692	942	1,021	1,333	410	372
Cash from Investing	-470	244	-148	-101	144	59	-16	-465	87	66
Cash from Financing	-701	-502	-812	-472	-795	-963	-978	-926	-440	-605
	50	62	-107	42	49	36	30	-58	57	-168

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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
	44.06	44.06	44.06	44.06	44.06	44.06	44.06	44.06	44.06
	3.69	4.39	5.02	5.26	4.95	5.12	5.23	5.13	5.25
	6.57	6.52	6.48	6.60	6.62	6.60	6.60	6.57	6.53
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	45.66	45.02	44.44	44.08	44.36	44.21	44.11	44.24	44.15

Documents

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

2026-09-03

Copy of Newspaper Publication

2026-09-03 - RattanIndia Power Limited has informed the Exchange about Newspaper Clipping: Notice of 19th Annual General Meeting, E-voting and Book Closure

2026-09-02

Shareholders meeting

2026-09-02 - RattanIndia Power Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026 and Annual Report for FY 2025-26.

2026-08-26

Outcome of Board Meeting

2026-08-26 - RattanIndia Power Limited has informed the Exchange regarding Outcome of Board Meeting held on August 26, 2026.

2026-08-10

Credit Rating

2026-08-10 - RattanIndia Power Limited has informed the Exchange about Credit Rating

2026-07-27

General Updates

2026-07-27 - RattanIndia Power Limited has informed the Exchange about release of Non Disposal Undertaking (NDU) on the shares of the Company.

2026-07-24

General Updates

2026-07-24 - RattanIndia Power Limited has informed the Exchange about Earning Updates

2026-07-24

Outcome of Board Meeting

2026-07-24 - RattanIndia Power Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-14

Reply to Clarification- Financial results

2026-07-14 - The Exchange had sought clarification from RattanIndia Power Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. The company has not submitted the Statement of Impact of Audit Qualifications in case of modified opinion(s) The response of the Company is enclosed.

2026-07-09

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-09 - RattanIndia Power Limited has informed the Exchange about Certificate in terms of regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026.

News

Recent coverage and analyst commentary for RTNPOWER

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RattanIndia Power Ltd.

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Name

ADANIPOWER

214.50

29.02

413656.70

0.00

4866.60

47.24

18901.89

33.97

17.79

42.67

NTPC

333.25

11.64

323141.40

2.70

6896.44

-88.71

50740.96

7.81

8.52

33.23

POWERGRID

265.95

15.56

247349.56

3.38

3598.42

-0.89

11496.72

2.68

9.74

82.97

ADANIGREEN

1314.20

121.34

216471.89

0.00

9830.00

1092.96

44310.00

1066.05

9.90

91.24

ADANIENSOL

1421.90

59.57

173891.90

0.00

1236.56

129.44

9711.08

42.41

9.71

31.27

TATAPOWER

369.00

30.52

117908.03

0.68

1400.86

10.98

19051.26

5.63

11.63

21.53

JSWENERGY

534.65

49.83

98027.15

0.37

532.70

-36.27

5207.13

1.24

8.50

55.22

NHPC

76.80

20.32

77145.87

2.10

1178.09

4.15

3808.31

18.50

6.16

61.80

NTPCGREEN

88.02

122.20

74168.55

0.00

3048.40

1282.62

11068.60

1527.23

3.73

91.95

TORNTPOWER

1304.15

28.28

65716.58

1.53

661.85

-10.75

8124.15

2.75

14.37

18.93

NLCINDIA

271.45

11.73

37640.25

1.42

436.33

-48.01

4716.75

23.29

11.27

32.83

RTNPOWER

7.26

35.00

3898.70

0.00

458.50

3597.33

7985.50

871.52

6.26

15.65

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

847

796

806

914

932

682

733

936

822

654

728

788

799

693

688

634

718

752

598

652

733

734

611

610

667

831

Operating Profit

155

109

172

196

179

203

118

121

-33

OPM %

18.26%

13.65%

21.38%

21.42%

19.25%

12.41%

11.05%

21.66%

10.65%

6.50%

16.24%

15.32%

-4.09%

-1,155

100

101

108

Interest

136

165

141

125

121

124

116

118

148

112

110

Depreciation

Profit before Tax

-20

-1,145

-3

124

-15

-33

Tax %

25.47%

-5.28%

24.47%

4.43%

0.00%

-0.00%

0.00%

-0.00%

0.00%

Net Profit

-22

-1,094

-3

124

-15

-33

0.08

-0.04

0.09

-2.03

0.17

-0.01

0.01

0.23

-0.03

-0.06

0.10

0.08

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,335

2,015

1,909

1,774

1,560

3,260

3,231

3,364

3,284

2,991

2,968

600

1,415

1,236

1,181

1,188

2,452

2,472

2,732

2,736

2,622

2,719

Operating Profit

735

600

673

593

372

808

759

632

548

369

249

OPM %

55.07%

29.78%

35.27%

33.43%

23.83%

24.78%

23.49%

18.78%

16.69%

12.33%

8.38%

169

224

-2,157

2,887

617

353

350

-875

393

391

360

Interest

1,017

997

1,075

1,354

664

586

534

568

479

461

399

Depreciation

208

239

233

228

227

222

237

247

252

253

Profit before Tax

-321

-411

-2,792

1,899

348

353

-1,048

216

106

Tax %

-0.00%

-1.68%

-0.00%

0.00%

5.77%

1.94%

0.00%

Net Profit

-321

-418

-2,792

1,899

348

333

-1,028

216

106

EPS

0.00

0.19

0.65

0.62

-1.91

0.40

0.09

—

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

2,953

4,940

5,370

2,004

1,654

-1,135

-190

-441

-94

238

-790

-575

-528

8,558

8,471

7,911

6,689

5,937

5,334

4,749

4,361

4,132

3,793

Trade Payables

129

157

173

154

642

1,325

2,174

375

418

523

642

684

906

1,029

Total Liabilities

14,169

14,449

11,916

11,825

11,310

11,220

11,128

9,782

10,006

9,817

7,415

7,424

7,193

6,968

6,741

6,533

6,384

6,381

6,216

6,057

Capital Work in Progress

737

650

646

109

3,372

3,529

1,760

1,831

1,227

1,263

1,241

142

432

644

268

127

238

263

202

2,064

2,435

2,757

Cash & Bank

158

114

241

263

232

462

362

2,491

2,546

1,849

2,169

2,733

2,924

3,067

569

663

705

Total Assets

14,169

14,449

11,916

11,825

11,310

11,220

11,128

9,782

10,006

9,817

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

1,219

319

854

616

692

942

1,021

1,333

410

372

Cash from Investing

-470

244

-148

-101

144

-16

-465

Cash from Financing

-701

-502

-812

-472

-795

-963

-978

-926

-440

-605

-107

-58

-168

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

44.06

3.69

4.39

5.02

5.26

4.95

5.12

5.23

5.13

5.25

6.57

6.52

6.48

6.60

6.62

6.60

6.57

6.53

Government

0.00

Public

45.66

45.02

44.44

44.08

44.36

44.21

44.11

44.24

44.15

RattanIndia 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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RattanIndia 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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