Power generation operator, ₹26,412 Cr market cap. Quarterly revenue (standalone) ₹759–₹1,496 Cr with OPM 60–83%. Regular dividend payer, 81.85% promoter-backed. ROE 4.52% signals capital efficiency gap despite operational strength.
Generated analysis · source review pending
Generated analysis · source review pending
2,528 historical price candles were omitted because the exchange source has not been verified.
Structured signal from quality, growth, valuation and momentum.
₹ crore, by fiscal year
% of revenue, by fiscal year
Comparable companies from the narrowest available industry classification.
Reported profit and loss, balance sheet, cash flow and growth history.
Annual operating, return, leverage and working-capital ratios.
Current futures and options contracts with compact option-chain pages.
Mutual-fund schemes that disclosed a holding in the company.
Annual reports, exchange filings, offer documents, ratings and earnings-call material.
Upcoming dates and the company’s corporate-action history.
Latest exchange announcements, filings and downloadable documents.
| Holder (%) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | 81.85% | |
| 0.91% | 1.68% | 2.36% | 2.39% | 2.38% | 2.42% | 2.49% | 2.52% | 2.55% | 2.7% | 2.75% | 2.79% | |
| 5.74% | 5.98% | 3.35% | 3.94% | 4.29% | 4.1% | 4.2% | 4.11% | 4.32% | 3.99% | 3.75% | 3.74% | |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 11.5% | 10.49% | 12.44% | 11.82% | 11.48% | 11.63% | 11.46% | 11.52% | 11.28% | 11.46% | 11.65% | 11.62% | |
| No. of shareholders | — | — | — | — | — | — | — | — | 14,49,111 | 14,07,048 | 14,02,728 | 13,71,708 |
Promoter holding up 0 percentage points since Sep 2023.
| Date | Client | Type | Venue | Side | Quantity | Price | Value |
|---|---|---|---|---|---|---|---|
| 1 Dec 2023 | BNP PARIBAS ARBITRAGE | Block | NSE | Sell | 50,00,000 | ₹84.95 | ₹42.48 Cr |
| 1 Dec 2023 | BLACKROCK GLOBAL FUNDS | Block | NSE | Buy | 50,00,000 | ₹84.95 | ₹42.48 Cr |
| 27 Mar 2023 | SBI MUTUAL FUND | Bulk | NSE | Sell | 7,63,39,578 | ₹30.85 | ₹235.51 Cr |
| 27 Mar 2023 | SBI MUTUAL FUND | Bulk | NSE | Buy | 7,61,27,461 | ₹30.85 | ₹234.85 Cr |
Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.
Current officeholders as filed with BSE. A person holding two offices is listed once per office.
Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
Documents link to external sources (exchange filings, company investor pages).
| — |
| — |
| — |
| 93.7% |
| EBITDA margin % | 76.6% | 75.1% | 72.4% | 71.4% | 75.9% | 70.5% | 72.3% | 74% |
| EBIT margin % | 61.9% | 60.8% | 56.6% | 54.7% | 62.4% | 48.8% | 50.3% | 51% |
| PAT margin % | 51.5% | 61.6% | 66.2% | 41% | 46.3% | 35.3% | 26.6% | 14.2% |
| Working capital | ||||||||
| Receivable days | 38 | 101 | 77 | 87 | 34 | 24 | 66 | 162 |
| Inventory days | 26 | 27 | 30 | 33 | 38 | 39 | 36 | 173 |
| Payable days | 14 | 22 | 24 | 20 | 24 | 57 | 85 | 235 |
| NWC days | 50 | 106 | 82 | 100 | 48 | 5 | 16 | 100 |
| Leverage | ||||||||
| Current ratio | — | 3.65 | 1.55 | 1.56 | 1.13 | 1.19 | 0.98 | 0.64 |
| Debt to EBITDA | 0.95 | 0.97 | 1.2 | 3.99 | 6.27 | 11.15 | 12.12 | 9.58 |
| Debt to equity | 0.17 | 0.16 | 0.17 | 0.52 | 1.01 | 1.44 | 1.9 | 2.25 |
| Interest coverage | 8.1 | 7.6 | -752 | 9.5 | 5.2 | 3.4 | 2.5 | 1.9 |
| Asset turnover | 0.18 | 0.17 | 0.14 | 0.1 | 0.09 | 0.07 | 0.07 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | 9.1% | 10.4% | 9.4% | 4.3% | 4.2% | 2.3% | 1.8% | 1.2% |
| Return on capital employed % | — | 13.6% | 14% | 8.5% | 9% | 4.9% | 4.8% | 5.9% |
| Return on equity % | 12.2% | 13.8% | 12.9% | 7.5% | 9.8% | 6.5% | 5.8% | 4.5% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.
| Company | Mkt Cap | EV | Revenue | EBITDA | OPM | PAT | NPM | ROCE | ROE | WC Days |
|---|---|---|---|---|---|---|---|---|---|---|
| Jsw Energy LimitedJSWENERGYJSWENERGY | ₹88,925 Cr | ₹1,64,771 Cr | ₹18,965 Cr | ₹10,149 Cr | 53.3% | ₹1,967 Cr | 14.6% | 8.6% | 7.7% | 28 |
| Ntpc Green Energy LimitedNTPCGREENNTPCGREEN | ₹76,755 Cr | ₹1,06,013 Cr | ₹3,285 Cr | ₹2,860 Cr | 86.6% | ₹607 Cr | 18.2% | 3.3% | 2.8% | -32 |
| Nhpc LimitedNHPCNHPC | ₹72,073 Cr | ₹1,24,207 Cr | ₹12,210 Cr | ₹5,787 Cr | 45.1% | ₹3,797 Cr | 36.3% | 4.4% | 9.3% | 77 |
| Nlc India LimitedNLCINDIANLCINDIA | ₹35,109 Cr | ₹62,911 Cr | ₹18,381 Cr | ₹6,125 Cr | 32% | ₹3,367 Cr | 21.6% | 8.2% | 17.5% | 171 |
| Acme Solar Holdings LimitedACMESOLARACMESOLAR | ₹30,577 Cr | ₹49,565 Cr | ₹2,370 Cr | ₹2,058 Cr | 88% | ₹603 Cr | 24.6% | 8.5% | 10.4% | 63 |
| Sjvn LimitedSJVNSJVN | ₹22,757 Cr | ₹54,860 Cr | ₹5,005 Cr | ₹3,492 Cr | 74% | ₹639 Cr | 14.2% | 5.9% | 4.5% | 100 |
| Nava LimitedNAVANAVA | ₹15,652 Cr | ₹17,873 Cr | ₹4,310 Cr | ₹1,656 Cr | 40% | ₹756 Cr | 24.2% | 12.5% | 9.6% | 178 |
| Juniper Green Energy LimitedJNPRJNPR | ₹15,263 Cr | ₹28,184 Cr | ₹719 Cr | ₹606 Cr | 84.3% | ₹40 Cr | 5.6% | — | 1.2% | — |
| Clean Max Enviro Energy Solutions LimitedCLEANMAXCLEANMAX | ₹15,234 Cr | ₹27,644 Cr | ₹1,913 Cr | ₹1,132 Cr | 59.2% | ₹94 Cr | 4.5% | 6.4% | 2.6% | -1,192 |
| Vedanta Power LimitedVEDPOWERVEDPOWER | ₹12,814 Cr | ₹18,646 Cr | ₹5,453 Cr | ₹1,040 Cr | 19.1% | ₹-1,713 Cr | -31.4% | 11% | -88.4% | 76 |
| Jaiprakash Power Ventures LimitedJPPOWERJPPOWER | ₹10,143 Cr | ₹13,523 Cr | ₹5,756 Cr | ₹1,525 Cr | 24.6% | ₹641 Cr | 8.1% | 6.9% | 3.6% | 93 |
| Reliance Power LimitedRPOWERRPOWER | ₹8,028 Cr | ₹22,840 Cr | ₹7,690 Cr | ₹2,361 Cr | 31% | ₹-319 Cr | -4.4% | 6.1% | -2.1% | 139 |
Shareholder Meeting / Postal Ballot-Outcome of AGM
Closure of Trading Window
Board Comments On Fine Levied By The Exchanges
Commercial Operation Of Unit-II (660 MW) Of Company'S Buxar Thermal Power Project
Announcement under Regulation 30 (LODR)-Change in Directorate
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
| 18 Sept 2026, 12:11 pm | Company Update General | Board Comments On Fine Levied By The Exchanges |
| 11 Sept 2026, 5:44 pm | Company Update General | Commercial Operation Of Unit-II (660 MW) Of Company'S Buxar Thermal Power Project |
| 10 Sept 2026, 5:58 pm | Company Update Change in Directorate | Announcement under Regulation 30 (LODR)-Change in Directorate |
| 2 Sept 2026, 11:35 am | AGM/EGM AGM | Shareholder Meeting / Postal Ballot-Scrutinizer''s Report |
34 schemes · 10 fund houses
| Shares | ||||||
|---|---|---|---|---|---|---|
| CPSE ETF | Nippon India Mutual Fund | 2.03 Cr | 131.63 | 0.69% | 0.518% | +22,950 |
| BHARAT 22 ETF | ICICI Prudential Mutual Fund | 42.79 L | 27.67 | 0.28% | 0.109% | -8,895 |
| PSU EQUITY FUND | ICICI Prudential Mutual Fund | 14.29 L | 9.25 | 0.5% | 0.036% | +7.34 L |
| (Investment Manager for Motilal Oswal Mutual Fund) | Motilal Oswal Mutual Fund | 6.95 L | 4.5 | 0.11% | 0.018% | +24,558 |
| ETF Nifty Midcap 150 | Nippon India Mutual Fund | 6.82 L | 4.41 | 0.11% | 0.017% | +40,447 |
| Nifty Midcap 150 Index Fund | Nippon India Mutual Fund | 4.78 L | 3.1 | 0.11% | 0.012% | +8,774 |
| Nifty Midcap 150 Index Fund | ICICI Prudential Mutual Fund | 2.24 L | 1.45 | 0.11% | 0.006% | +7,349 |
| Nifty Midcap 150 Index Fund | SBI Mutual Fund | 2.16 L | 1.4 | 0.11% | 0.006% | +8,716 |
Consolidated figures · ₹ crore
| ₹ Cr | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,494 | 2,679 | 2,229 | 2,654 | 2,697 | 2,485 | 2,417 | 2,938 | 2,579 | 3,072 | 4,528 | |
| COGS | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 | 287 |
| Gross profit | — | — | — | — | — | — | — | — | — | — | 4,242 |
| 442 | 490 | 542 | 622 | 667 | 683 | 686 | 704 | 758 | 845 | 896 | |
| 2,052 | 2,190 | 1,687 | 2,032 | 2,030 | 1,803 | 1,731 | 2,234 | 1,821 | 2,227 | 3,346 | |
| OPM % | 82.3% | 81.7% | 75.7% | 76.6% | 75.3% | 72.5% | 71.6% | 76% | 70.6% | 72.5% | 73.9% |
| Depreciation | 677 | 680 | 365 | 390 | 384 | 393 | 404 | 396 | 557 | 676 | 1,042 |
| Interest | 209 | 46 | 84 | 235 | 268 | -3 | 161 | 415 | 457 | 743 | 1,298 |
| 410 | 438 | 413 | 254 | 401 | 444 | 195 | 315 | 376 | 304 | 195 | |
| Profit before tax | 1,709 | 1,875 | 1,648 | 1,795 | 1,938 | 2,128 | 1,316 | 1,727 | 1,174 | 1,099 | 1,147 |
| Tax | 298 | 330 | 423 | 428 | 277 | 482 | 326 | 368 | 262 | 281 | 506 |
| Tax % | 17.4% | 17.6% | 25.7% | 23.9% | 14.3% | 22.7% | 24.8% | 21.3% | 22.3% | 25.6% | 44.1% |
| 1,411 | 1,545 | 1,225 | 1,367 | 1,661 | 1,646 | 990 | 1,359 | 911 | 818 | 642 | |
| PAT margin % | 56.6% | 57.7% | 55% | 51.5% | 61.6% | 66.2% | 41% | 46.3% | 35.3% | 26.6% | 14.2% |
| EPS (₹) | 3.2 | 3.8 | 2.9 | 3.1 | 4.2 | 4.2 | 2.5 | 3.5 | 2.3 | 2.1 | 1.6 |
| EPS adjusted (₹) | 3.4 | 3.7 | 3.1 | 3.5 | 4.2 | 4.2 | 2.5 | 3.5 | 2.3 | 2.1 | 1.6 |
| 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 28% | 70.2% | 92% | |
| Annual report | Annual report for Mar 2016 | Annual report for Mar 2017 | Annual report for Mar 2018 | Annual report for Mar 2019 | Annual report for Mar 2020 | Annual report for Mar 2021 | Annual report for Mar 2022 | Annual report for Mar 2023 | Annual report for Mar 2024 | Annual report for Mar 2025 | Annual report for Mar 2026 |
| ₹ Cr | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 4,137 | 4,137 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 |
| Reserves | 6,280 | 7,353 | 6,770 | 7,316 | 8,121 | 8,861 | 9,241 | 9,930 | 10,141 | 10,249 | 10,309 |
| Minority interest | — | — | — | — | — | — | — | — | — | 11 | 10 |
| 2,453 | 2,229 | 2,035 | 1,940 | 1,972 | 2,155 | 6,894 | 13,993 | 20,252 | 26,925 | 32,103 | |
| 1,731 | 1,673 | 1,655 | 1,787 | 1,932 | 2,527 | 3,184 | 4,459 | 4,869 | 4,948 | 5,413 | |
| Total equity & liabilities | 14,601 | 15,392 | 14,390 | 14,974 | 15,955 | 17,473 | 23,248 | 32,311 | 39,191 | 46,063 | 51,766 |
| 9,054 | 8,425 | 8,087 | 8,142 | 8,051 | 8,007 | 7,866 | 8,489 | 10,906 | 11,610 | 23,459 | |
| CWIP | 391 | 659 | 935 | 1,286 | 2,233 | 4,293 | 8,369 | 15,674 | 20,033 | 26,162 | 19,143 |
| Investments | 10 | 90 | 120 | 160 | 195 | 222 | 275 | 36 | 37 | 61 | 52 |
| 5,147 | 6,218 | 5,249 | 5,385 | 5,476 | 4,951 | 6,739 | 8,112 | 8,215 | 8,231 | 9,112 | |
| Total assets | 14,601 | 15,392 | 14,390 | 14,974 | 15,955 | 17,473 | 23,248 | 32,311 | 39,191 | 46,063 | 51,766 |
| ₹ Cr | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2,209 | 2,376 | 1,641 | 1,018 | 1,983 | 2,138 | 1,632 | 1,310 | 2,483 | 1,860 | |
| -768 | -1,199 | 15 | -34 | -1,145 | -6,132 | -6,877 | -5,502 | -6,430 | -3,481 | |
| -705 | -1,621 | -2,272 | -1,107 | -1,105 | 3,669 | 5,559 | 4,502 | 3,939 | 2,385 | |
| Net cash flow | 736 | -444 | -616 | -123 | -267 | -325 | 314 | 309 | -8 | 763 |
| Free cash flow | — | — | — | — | -83 | -2,290 | -5,212 | -4,340 | -4,186 | -3,839 |
| CFO / Operating profit % | 107.6% | 108.5% | 97.3% | 50.1% | 110.2% | 123.8% | 73.2% | 72.1% | 111.8% | 55.5% |