ADANI POWER LTD.

Adani Power Limited has signed a Share Purchase Agreement (SPA) to sell its entire stake in its wholly-owned subsidiary, Chandenvalle Infra Park Limited (CIPL), to AdaniConneX Private Limited (ACPL). The transaction, valued at ₹535.69 crore, subject to closing adjustments, will result in CIPL ceasing to be a subsidiary of Adani Power. CIPL, which has not yet commenced commercial activities, holds significant land parcels and approvals in Telangana. ACPL is a joint venture between Adani Enterprises Limited and EdgeConneX. The transaction is considered a related party transaction conducted on an arm's length basis.

Adani Power Limited has received a favorable update on a pending litigation. The Appellate Tribunal for Electricity (APTEL) has allowed the company's appeal, setting aside an order from the Maharashtra Electricity Regulatory Commission (MERC). APTEL has directed MERC to issue consequential orders in line with its earlier judgment and compute 'Change in Law' compensation based on prescribed operational parameters. This ruling is an update to a material litigation previously disclosed by the company.

Adani Power Ltd has filed disclosures under SEBI's substantial acquisition regulations, detailing shareholding changes by Pranav Vinod Adani and other entities. Key transactions include market purchases by individuals like Mr. Pranav Vinod Adani, Mr. Karan Gautam Adani, Mr. Jeet Gautam Adani, and Mr. Sagar Rajesh Adani, each acquiring 10 equity shares. Significant acquisitions were also made by Adani Tradeline Private Limited (10,80,27,500 shares), Ardour Investment Holding Ltd (20,50,00,000 shares), Hibiscus Trade and Investment Ltd (2,73,82,500 shares), and Adani Infra (India) Limited (12,48,00,000 shares via block deal). These transactions collectively represent a minor percentage change in the overall shareholding of Adani Power Limited.

Adani Power Limited (APL) announced that the National Company Law Tribunal (NCLT) Ahmedabad has sanctioned the Scheme of Amalgamation for nine of its wholly-owned subsidiaries. The sanctioned subsidiaries include Adani Power Dahej Limited, Kutchh Power Generation Limited, Resurgent Fuel Management Limited, Mahan Fuel Management Limited, Orissa Thermal Energy Limited, Korba Power Limited, Anuppur Thermal Energy (MP) Private Limited, Mirzapur Thermal Energy (UP) Private Limited, and Emberiza Infra Park Limited. The scheme was filed with NCLT Ahmedabad for these entities. The matter concerning Vidarbha Industries Power Limited (VIPL) with NCLT Mumbai remains sub-judice. The Appointed Date for the scheme is April 1, 2025. APL will provide further updates once the scheme becomes effective.

Adani Power Limited has scheduled an Extra-Ordinary General Meeting (EGM) on Friday, August 14, 2026, at 11:00 a.m. via Video Conferencing. The primary agenda for the EGM is to seek shareholder approval, through a Special Resolution, to increase the company's borrowing limits under Section 180(1)(c) of the Companies Act, 2013. The proposed new aggregate borrowing limit is ₹100,000 crore (Rupees One Lakh crore only) in excess of the aggregate of the paid-up share capital, free reserves, and share premium. The Board will be authorized to raise loans, borrow funds, and issue debt securities. August 07, 2026, has been fixed as the cut-off date for e-voting.

Adani Power's Board of Directors met on July 22, 2026, approving the unaudited financial results for Q1 FY27 (standalone and consolidated). The board also greenlit a Qualified Institutions Placement (QIP) to raise up to ₹15,000 crore through equity shares or other securities. Additionally, borrowing limits were proposed to be increased from ₹75,000 crore to ₹1,00,000 crore. An Extra-Ordinary General Meeting (EGM) is scheduled for August 14, 2026, to seek shareholder approval for these proposals.

Adani Power reported its highest-ever quarterly print for Q1 FY27, with consolidated PAT of ₹4,866.60 Cr, up 47.2% YoY from ₹3,305.13 Cr (and +13.9% QoQ over ₹4,271.40 Cr), on reported revenue of ₹19,322.30 Cr, +33.9% YoY. The headline growth overstates the underlying trajectory: the quarter carries a ₹1,386.34 Cr one-time net recognition of prior-period revenue (largely retrospective energy-charge revisions under certain PPAs) versus only ₹406 Cr a year ago, plus a new ₹117.69 Cr share of associate profit from the freshly acquired 24% stake in Jaiprakash Power Ventures. Stripping the one-offs, management's continuing-basis metrics are the cleaner read — continuing revenue ₹17,936 Cr (+26.6%), continuing EBITDA ₹6,983 Cr (+21.6%), and continuing PBT ₹4,914 Cr (+29.4%). So the print is genuinely strong, but the honest underlying growth is ~22-29%, not 47%. The operating story is the real driver. A hotter-than-usual summer pushed all-India demand up ~8.4% and IEX day-ahead prices +15.7% to ₹5.1/unit; against that backdrop APL's PLF jumped from 67.0% to 77.9% and volumes rose 16.9% to 28.8 BU, aided by PPA tie-ups of previously open capacity (Butibori, Tuticorin) and VIPL. PPA volumes grew 30.3% with tariff realisation +8.5% to ₹5.95/kWh. Margins expanded YoY — NPM 25.19% vs 22.68% and OPM 42.12% vs 40.30% — even as fuel cost rose 30.2% to ₹9,513 Cr on larger volumes and costlier imported coal; tight finance-cost control (+5.2% to ₹901 Cr despite acquisitions and capex) protected the bottom line. Note QoQ NPM eased from 26.71%, but the Q4 comparison is distorted by that quarter's own large other-income one-offs, so the YoY expansion is the meaningful signal. Versus expectations the quarter is a clear beat: Antique had modelled roughly flat YoY PAT (+0.5%) and ~11% revenue growth, well below even the continuing-basis outcome. It also confirms the bullish FY27 guidance from the Q4 concall — strong demand growth, capacity expansion and low leverage all played out, with Korba Phase-II (1,320 MW) due this year and Mahan Phase-II (1,600 MW) at 88% progress toward Q1 FY28. CEO S B Khyalia framed it as the 'highest ever quarterly EBITDA on continuing basis' on the road to a 45 GW portfolio. The result landed alongside two capital-structure actions the same day: board approval for a ₹15,000 Cr QIP and a borrowing-limit hike from ₹75,000 Cr to ₹1,00,000 Cr, both intended to fund the capex programme (the earlier guidance flagged ~₹25,000 Cr FY27 capex). Standalone PAT was ₹4,105.43 Cr (+31.6% YoY) on ₹15,761 Cr revenue; the standalone-vs-consolidated growth gap is largely the associate profit and subsidiary contribution, not a divergent story.

Adani Power Limited has announced that its Board of Directors will consider proposals for raising funds during their upcoming meeting on July 22, 2026. The fund-raising could be through the issuance of equity shares or other eligible securities via various modes like private placement, qualified institutions placement, or preferential issue. This decision is subject to shareholder and regulatory approvals. The board will also review the company's un-audited financial results for the quarter ended June 30, 2026. The trading window remains closed as per the company's insider trading code.

Adani Power Limited (APL) has entered into a 25-year Power Supply Agreement (PSA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) to supply 1600 MW of thermal power. This power will be generated from a new 2x800 MW Ultra-Supercritical Thermal power plant to be established on a Design, Build, Finance, Own & Operate (DBFOO) basis. The coal linkage for the plant has been secured under the Government of India's SHAKTI Policy. This agreement marks a significant long-term commitment for Adani Power in the power sector.

Adani Power Limited has received an ESG score of 80 (CareEdge-ESG 1+) from CareEdge ESG Ratings Limited. This rating reflects the company's sustained commitment to best-in-class practices and transparent disclosures across environmental, social, and governance dimensions within the high-impact thermal power sector. The rating is based on the annual surveillance review and incorporates the company's FY26 Integrated Annual Report disclosures. The rating is valid for one year from June 25, 2027.