Adani Power gets NCLTas nod to acquire Essar Power's 1,200 MW thermal power projectEarlier in June this year, Adani Power had emerged as the successful bidder for the Essar Power's 1,200 MW project
Adani Power gets shareholders' approval for Rs 3,264 crore delisting proposalLast month, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE and National Stock Exchange of India
Adani Power seeks shareholders nod for delisting proposalAdani Power issued a notice for voluntary delisting of equity shares of the company from BSE and National Stock Exchange of India
Adani Power's board to consider delisting of entire equity shares from BSE, NSEThe meeting of the board of directors of the company to be held on June 03, 2020 to consider the same
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Adani Power is the largest private thermal power producer in India. It is a part of the diversified Adani Group and has been producing energy since 1996. In 2009, the company was listed on the stock exchange and became publicly traded.
Adani Power is a large-cap company with a market capitalization of Rs 42,484.18 Crore.
The company has an integrated production capacity of 12,450 MW in its thermal power plants in Maharashtra, Gujarat, Karnataka, Rajasthan, and Chhattisgarh and a 40MW solar system power unit in Gujarat.
Company background and history
Adani Power is engaged in coal-based electric power generation, supply, and distribution. They have a primary thermal power-producing unit in Mundra in Gujarat and several other states. It is a part of the Adani conglomerate, which is involved in the diversified business. Adani Power Maharashtra Limited, Adani Power Rajasthan Limited, Udupi Power Corporation Limited and Adani Power Resources Limited are its subsidiaries.
Adani Power was incorporated by Gautam and Rajesh Adani along with their relatives. In 2002, the name of Adani Power was changed to Adani Power Pvt. Ltd., following a restructuring of shareholding patterns. In 2006, the company's entire shareholding was transferred from Mundra Port and Special Economic Zone Ltd (MPSEZL) to Adani Enterprises Ltd. In 2009, it became a listed company by debuting in Bombay (BSE) and National Stock Exchange. They commissioned two power units in 2014 in Rajasthan and one in Maharashtra to emerge as the largest power producer in India with a total installed capacity of 8620 MW.
Company financials and performance
- Adani Power is involved in the core industry of power generation, impacted by the current pandemic. It reported a 9% decline in revenue in the half-yearly reports published on September 30, 2021.
- Net income decreased by 97% during the same period to Rs 476.2 million.
- The decrease in revenue reflects decreased demand due to unfavourable market conditions.
- The company's other income decreased 14% to Rs 10.32 billion, whereas other expenses increased by 4% To rs 6.02 billion.
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