ADANIPOWER

July 23, 2026 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sirs, Sub.: Results Presentation for Post Results Conference Call dt. July 23, 2026 Ref.: Our intimation dt. June 27, 2026 and July 20, 2026 w.r.t. interaction with Investors / Analysts pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 In furtherance to our above-referred intimation, the presentation for the earnings conference call to be held at 12:00 noon IST today, i.e. July 23, 2026 is attached herewith and also being uploaded on the website of our Company. You are requested to kindly take the above on your record. For Adani Power Limited Puneet Bansal Company Secretary Encl.: As above Adani Power Limited Tel +91 79 2656 7555 “Adani Corporate House” Fax +91 79 2555 7177 Shantigram, Near Vaishno Devi Circle, info@adani.com S. G. Highway, Khodiyar, www.adanipower.com Ahmedabad-382421, Gujarat India CIN: L40100GJ1996PLC030533 Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421 Adani Power Limited Earnings Presentation – Q1 FY27 | July 2026 APL : Consolidated Dashboard June 2026, YTD Operating Highlights O&M Availability (%) Generation Performance (PLF %) Dispatch Performance (BU) Sales Volume Mix (%) 89% 96% 91% 89% 67% 78% 71% 67% +3.4 % Contracted (PPA) Merchant/ Short Term +17 % 95.9 99.1 23% 15% 21% 21% 24.6 28.8 77% 85% 79% 79% Q1FY26 Q1FY27 FY25 FY26 Q1FY26 Q1FY27 FY25 FY26 Q1FY26 Q1FY27 FY25 FY26 Q1FY26 Q1FY27 FY25 FY26 Ensuring consistent high plant availability Strong revival in power demand and spike Higher operating capacity and improved Growing proportion of long and medium- through predictive and preventive in peak demand leading to improved demand help improve dispatch term capacity tie-ups reducing merchant maintenance offtake under PPAs performance market exposure. Operational excellence demonstrated consistently Financial Highlights Continuing Revenue Continuing EBITDA Profit After Tax 56,473 55,583 21,575 21,285 12,750 12,971 4,867 14,167 17,936 5,744 6,983 3,305 Q1FY26 Q1FY27 FY25 FY26 Q1FY26 Q1FY27 FY25 FY26 Q1FY26 Q1FY27 FY25 FY26 Higher dispatch volumes and improved realisations lead Strong EBITDA performance due to improved Robust operating profitability and control on leverage to handsome growth in Continuing Revenue contribution underscoring earnings quality leading to high conversion and solid PAT performance Earnings quality excellence demonstrated through sharp improvement in margins PPA: Power Purchase Agreement; PLF: Plant Load Factor; BU: Billion Units; EBITDA: Earnings Before Interest Tax Depreciation and Amortization; PBT: Profit Before Tax; Continuing Revenue and EBITDA excludes One-time / Prior Period income recognitions; PPA: Power Purchase Agreement Home outline Hsoalmid bfiullrger Menu Icon with 2 Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Power Limited (“APL”) and its subsidiaries , associates, and joint ventures (combine together “Adani Thermal Power Group” or “The Group”) their future outlook and growth prospects, and future developments in their businesses and their competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in the country the business is. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of The Group’s shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of The Group. The Group, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. The Group assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Group may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of The Group. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it’s should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom. Home outline Hsoalmid bfiullrger Menu Icon with 3 Contents 1 About Adani Portfolio 2 About Adani Power Limited (APL) 3 APL Quarterly Performance Highlights 4 Debt Profile 5 Progress in Capacity Expansion Projects 6 ESG Practice at APL 7 APL: Investment Case Home outline Hsoalmid bfiullrger Menu Icon with 4 Adani Portfolio: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Other Materials, Metal Incubator Energy & Utility Transport & Logistics Specialty & Mining (74.84%) (62.43%) (74.96%) (66.03%) (67.29%) 3 AEL1 AGEL APL APSEZ Ambuja Cements4 Renewables IPP Ports & Logistics (74.71%) (37.40%) (50.05% (72.66%) ) AESL ATGL2 ACC4 Orient4 T&D Gas Discom (100%) (50.00%) (100%) (100%) (100%) (69.02%) ANIL AdaniConneX5 AAHL ARTL Copper, Aluminum NDTV New Industries Data Centre Airports Roads (100%) (100%) (100%) (100%) Mining Services Specialist PVC & GCC Manufacturing Com. Mining 6 (%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries (%): Ambuja equity stake in its Listed cos Direct Consumer subsidiaries A multi-decade story of high growth centered around infrastructure & utility core 1. AEL has raised INR 15,000 Cr through Qualified Institutional Placement (‘QIP’) during July’26. Accordingly, promoter’s shareholding stands revised to 71.97%. | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Ambuja Cement’s shareholding does not include Global Depository Receipt of 0.04% but includes AEL shareholding of 0.35% received as part of the consideration against transfer of Adani Cementation Limited as per NCLT order dated 18th July’25 | 4. Cement includes 67.29% (67.33% on Voting Rights basis) stake in Ambuja Cements Ltd. as on 30thJune’26 which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited & Ambuja Cements Ltd. holds 72.66% stake in Orient Cement Ltd.| 5. Data center, JV with EdgeConnex | 6. Includes the manufacturing of Defense and Aerospace Equipment | AEL: Adani Enterprises Limited | APSEZ: Adani Ports and Special Economic Zone Limited | AESL: Adani Energy Solutions Limited | T&D: Transmission & Distribution | APL: Adani Power Limited | AGEL: Adani Green Energy Limited | AAHL: Adani Airport Holdings Limited | ARTL: Adani Roads Transport Limited | ANIL: Adani New Industries Limited Home outline Hsoalmid bfiullrger Menu Icon with 6 | IPP: Independent Power Producer | NDTV: New Delhi Television Ltd | PVC: Polyvinyl Chloride | GCC: Global Capability Centre l Promoter’s holdings are as on 30th June, 2026. Adani Portfolio: Best-in class growth with national footprint All figures in INR cr Predictable, high and rising free cash flow National footprint with deep coverage EBITDA Tax paid 94,834 Finance cost paid CAT (FFO) 67,995 (72%) EBITDA 24,870 AEL 12,784 APSEZ (51%) 22,259 Adani’s Core Infra. AGEL (23%) Platform – ATGL 10,418 375 AESL (42%) Mn 4,580 1,668 APL Userbase FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Ambuja Cement EBITDA: Earning before Interest Tax Depreciation & Amortization I EBITDA: PAT + Share of profit from JV + Tax + Deferred Tax + Depreciation + Finance Cost + Forex Loss / (Gain) + Exceptional Items | FFO: Fund Flow from Operations l FFO : EBITDA – Actual Finance cost paid (excl. Capitalized Interest, incl. Int. on Lease Liabilities)– Tax Paid l AEL: Adani Enterprises Limited l APSEZ: Adani Ports and Special Economic Zone Limited l AGEL: Adani Green Energy Limited | ATGL: Adani Total Gas Home outline Hsoalmid bfiullrger Menu Icon with 77 Limited l AESL: Adani Energy Solutions Limited l APL: Adani Power Limited Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited | Cemindia Projects Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value Creation Y T • Analysis &market • Siteacquisition • Engineering &design • Life cycleO&M • Delivering exceptional products & services for I V intelligence • Concessions & • Sourcing &quality planning elevated engagement I T C • Viabilityanalysis regulatory • Project Management • AssetManagement plan • Differentiated and many P&Ls A agreements Consultancy (PMC) E C N Adani’s Core Infra. Platform – A M 375 R O Mn F R Userbase E India’s Largest Longest Private HVDC World’s largest Energy Network P Commercial Port Line in Asia Renewable Cluster Operation Center (atMundra) (Mundra - Mohindergarh) (at Khavda) (ENOC) T N Strategic value Investment Case Growth Capital – Platform 9% Long Term Debt LE Mapping Development Infrastructure Financing 14% 19% AM Framework PSU Banks T I P A E G A Policy, Duration Risk Matching M 2 a 0 r 1 c 6 h 55% 3% Mar’26 22% P U v S t D .B B a o n n k d s s CN A M S R t is r k at egy & R G i o s v k e M rn a a n n a c g e e & m A en s t s u – r a R n a c t e e & Currency 31% 24% D N II BFCs & FIs Framework Diversified Source of Capital 1% 22% Global Int.Banks Capex LC R E Continued • Power Utility Business - ENOC L Human Capital • Leadership Development Initiatives B Focus & AI enabled Digital • City Gas Distribution - SOUL A Development N Investment • Investment in Human Capital Transformation • Transportation Business - AOCC E Note : 1. Cemindia Projects Ltd. (formerly known as ITD Cementation India Ltd.): the total shareholding stands at 67.46%. PSP Projects Ltd.: the total shareholding stands at 34.41%.| 2. Adani Environmental Resource Management Services Ltd. (additional company is being proposed) | O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd. l AIMSL : AdaniInfraMgtServicesPvtLtdl IG: Investment Grade l LC: Letter of Credit l DII: Domestic Institutional Investors l COP26: 2021 United Nations Climate Change Conference l AGEL: Adani Green Energy Ltd. l Home outline Hsoalmid bfiullrger Menu Icon with 88 NBFC: Non-Banking Financial Company l AIIL: Adani Infra (India) Ltd. | AOCC : Airport Operations Control Center Adani Power Limited (“APL”): India’s Largest Private Base Load Power Company India’s largest private sector thermal IPP portfolio Asset Details Key Financial Metrics Operating Metrics Q1 FY27 FY26 Mirzapur Kawai 1,600 MW 18,330 MW ₹19,322 Cr ₹57,865 Cr 1,320 MW + 3,200 Mirzapur Thermal Energh (UP) Pvt. Ltd. (100%) 13 Assets Revenue Revenue MW Churk Pirpainti Chapar Operating Capacity +33% YoY -2% YoY Anuppur 180 MW 2,400 MW 3,200 MW 2,400 MW Anuppur Thermal Energy 23,720 MW ₹8,369 Cr ₹23,431 Cr (MP) Ltd. (100%) Mahan Bitta 13 Projects by FY32 EBITDA EBITDA 1,200 MW + 3,200 MW 40 MWp Mahan Energen Ltd. (94.43%) Locked-in Capacity +36% YoY -2% YoY Mundra Godda 95%+ ₹6,983 Cr ₹21,285 Cr 4,620 MW 1,600 MW PPAs Tied up Continuing EBITDA Continuing EBITDA Raigarh Dahanu Operating Capacity +22% YoY -1% YoY 600 MW + 3,200 MW 500 MW Butibori Korba 13,320 MW ₹4,867 Cr ₹12,971 Cr 600 MW 600 MW + 2,920 MW New PPAs Tied up PAT PAT Vidarbha Industries Power Korba Power Ltd. (100%) Ltd. (100%) Locked-in Capacity +47% YoY +2% YoY Tiroda Raipur 3,300 MW 1,370 MW + 1,600 MW 60%+ ₹47,643 Cr 2.12x Udupi Supercritical / Ultra- Net Debt Net Debt to Cont Mutiara 1,200 MW 1,200 MW S C u a p p e ac rc it r y itical Operating ₹45,022 Cr (FY25) EBITDA: Jun’26 (TTM) Moxie Power Generation Ltd. Legend (49%) ₹147k Cr 15.9% 19.5% 22.6% Operating Locked-in Proposed Target Capacity housed in Capacity + Capacity + Addition = Capacity subsidiaries is Indicated by Gross Assets RoA RoCE Jun,26 RoE boxes Jun’26 (TTM) Jun26 (TTM) Jun26 (TTM) 18 GW 24 GW 3 GW 45 GW Existing power plant Greenfield project site States with long term PPAs m: million | Cr: Crores | k: Thousand | MT: Million Tonnes | EBITDA: Earning before Interest, Tax, Depreciation & Amortization | MW: Mega Watts | GW: Giga Watts | PPA: Power Purchase Agreement | IPP: Independent Power Project | BTG: Boilers, Turbines, Home outline Hsoalmid bfiullrger Menu Icon with 10 and Generators | BU: Billion Units | RoA: Return on Assets | RoCE: Return on Capital Employed | RoE: Return on Equity | DISCOM: Distribution Company | | USD/INR: FY24 - 83.4, FY25 - 85.5, 9MFY25 - 85.6, 9MFY26 - 89.9 APL: High Quality Present Portfolio Mix: Poised to Meet India’s Base Load Demand Operating Capacity Locked-in Capacity Target Capacity + = 141,2 18,330 13 23,720 18 42,050(4) Assets MW Projects MW Assets MW Asset Type Asset Type Asset Type 59% 41% 100% 83% 17% Organic Inorganic Organic Inorganic Organic Inorganic Technology Technology 6% Technology 9% 51% 41% 94% 57% 25% 18% Ultra-supercritical Supercritical Others Ultra-supercritical Supercritical Others Ultra-supercritical Supercritical Others PPA Tie-ups3 5% PPA Tie-ups Till Date Ongoing Thermal PPA Bids 95% 56% 44% 13+ GW PPA Open PPA Open Strong portfolio of operating assets, locked-in capacity and further growth opportunities Notes: 1. Includes 40 MWp solar power plant at Bitta, Kutch, Gujarat as part of inorganic capacity; 2. Includes 1200 MW power plant of Moxie Power Generation Ltd., in which 49% stake is held by Adani Power Ltd.; 3. PPAs for 5.5% capacity yet to be operationalized; 4. Excludes 3GW of projects at proposal stage | PPA: Power Purchase Agreement | DISCOM: Distribution Company | MW: Mega Watts | GW: Giga Watts Home outline Hsoalmid bfiullrger Menu Icon with 11 Coal is Critical for India’s Base load power needs: Strong growth potential as India Catches 1 Up Electricity Consumption per capita across states (kWh) 4x Power Demand in next 2 decades Thermal PPA surge by State Discoms Per capita power Per capita GDP Energy demand 6,400 BU Coal allocations to State 30 State Population (Mn) consumption (USD) (kWh) DISCOMs for fresh PPA bids GW(1) Vision Uttar Pradesh 241 1,257 617 Peak demand 708 GW under SHAKTI Policy clause B(iv) 2047 Bihar 131 776 317 Installed Capacity 2,100 GW Maharashtra 129 3,715 1,610 PPAs awarded by State Discoms 20.9 GW West Bengal 100 1,933 674 with pre-indicated coal linkages Base load power critical for renewables under SHAKTI Policy Madhya Pradesh 89 1,806 1,116 Rajasthan 83 2,170 1,293 India’s Renewable Energy Target by 500 GW 2030 Tamil Nadu 77 4,110 1,630 Of which Gujarat 74 3,917 1,983 Additional Coal based capacity 97 GW APL 13.9 GW PPAs awarded to required by FY35 Karnataka 69 4,377 1,370 23.7 GW Andhra Pradesh 54 3,105 1,497 PPAs Awarded PPAs Awarded to of which Adani Power’s current c. 30% of States (MW) APL (MW) Assam 32 1,545 383 Project Pipeline India’s requirement Madhya Pradesh 5,320 2,920 India average 1,460 kWh per person Bihar 2,400 2,400 ✓ Population equivalent to the US in the two largest states with 1/3rd Capacity Mix (GW) – Dec’25 Capacity Mix (GW) - FY32E Uttar Pradesh 1,600 1,600 of India’s average power consumption Others, 118 Others, Maharashtra 3,200 3,200 ✓ Tremendous potential of growth for power sector as Indian economy 60 Base load, West Bengal 3,200 - expands 309 ✓ Government boosting thermal and renewable investments to meet Base Karnataka (2) 2,000 625 Renewables, load, rising demand from manufacturing, infrastructure, e-mobility & 207 247 Renewables, Assam (2) 3,200 3,200 571 digitalization Total 20,920 13,945 ✓ Affordable domestic and renewable power fuels economic growth as Ongoing Long-term thermal PPAs bids of ~13,000 MW 514GW 997 GW among various States to meet projected demand. a prosperity multiplier. Note: Baseload Power includes Thermal and Gas; Source: 20th EPS, NPP, CEA, CEA Optimal mix and NEP-II Transmission); BU: Billion Units; GW: Giga Watts; MTPA: Million Tonnes Per Annum); SHAKTI: Scheme for Harnessing and Allocating Koyala (Coal) Home outline Hsoalmid bfiullrger Menu Icon with 12 Transparently in India; DISCOM: Distribution Company; PPA: Power Purchase Agreement (1) Cumulative allocations as of September ’25; (2) Includes 625 MW long term PPA awarded by Karnataka DISCOM and 3,200 MW long term PPA awarded by Assam DISCOM APL: Business Updates for Q1 FY27 Power assets of Jaiprakash Associates Ltd. (Q1 FY 2026-27) Acquisition value ₹ 4,194 Crore 180 MW power plant in Churk (Uttar Pradesh) 180 MW Churk plant to be revived Inorganic Growth 24% Financial interest in profitable conventional power generators equity stake in 2,220 MW Jaiprakash Includes 11% equity stake in 1980 MW Prayagraj Power Power Ventures Ltd. Generation Company Ltd. Consistently maintaining and advancing stewardship 2.42 m³/MWh for inland Thermal Power Plants, which is 30.81% Specific Water lower than the statutory limit of 3.50 m³/MWh Consumption ESG Updates All-plant average Specific Water Consumption is 2.24 m³/MWh Ash Utilisation 93% Ash utilization for Q1 FY 2026-27 (113% utilization achieved in FY 2025-26) India’s Most Valued Energy Brand – 2026 by Brand Finance Brand Value of USD 1.8 Billion, Strength Score of 85.4, and AAA rating Home outline Hsoalmid bfiullrger Menu Icon with 14 MW: Mega Watt; PPA: Power Purchase Agreement; MTPA: Million Tonnes per annum | MMT: Million Metric Tonnes | NCD: Non-Convertible Debenture APL: Target 2035 and beyond… Base Load Power Capacity Expansion to 45 GW by FY 2031-32 Ongoing capacity expansion of 23.7 GW thermal power plants with estimated capex of ₹ 2 Trillion and targeted completion by FY 2031-32 Further additions of 3 GW generation capacity targeted Entry into International Hydroelectric Power Sector Development of 5 GW hydroelectric power capacity in Bhutan in partnership with the Govt of Bhutan’s Druk Green Power Corporation for supply of power to both countries First project of 570 MW to be set up under SPV Wangchhu Hydroelectric Power Ltd. with 49:51 stake of APL and DGPC; estimated project cost of ₹ 60 Billion Securing India’s Long-term Energy Future through Nuclear Power APL has set up a wholly owned subsidiary, Adani Atomic Energy Ltd., to invest in the emerging opportunity of nuclear power to serve the growing national demand for clean, round-the-clock power. Targeting capacity of 10 GW by 2035; sites identified for project location Home outline Hsoalmid bfiullrger Menu Icon with 15 MW: Mega Watt; PPA: Power Purchase Agreement; MTPA: Million Tonnes per annum | MMT: Million Metric Tonnes | NCD: Non-Convertible Debenture APL: Growth potential from rising power demand fully realised O&M Availability PLF Generation (BU) Sales (BU) 104.9 102.2 99.2 89% 96% 91% 89% 95.9 78% 71% 67% 67% 25.7 24.6 31.0 28.8 Q1 FY26 Q1 FY27 FY25 FY26 Q1 FY26 Q1 FY27 FY25 FY26 Power Demand in key States (BU)* 58.5 52.4 49.4 46.1 46.0 41.8 37.5 35.0 Q1 FY26 28.0 27.6 25.2 26.9 23.0 28.0 18.8 20.0 Q1 FY27 Haryana Rajasthan Gujarat Madhya Pradesh Maharashtra Karnataka Uttar Pradesh Tamil Nadu ▪ Above-normal temperatures in Summer 2026 with frequent heatwaves and delayed rainfall over large parts of India, leading to spike in demand for power after slow growth in 2025. ▪ Peak demand crosses 270 GW in May 2026 during solar hours and 248 GW during non-solar hours, while all-India power demand grew by 8.4% during Q1 FY27 vs Q1 FY26. ▪ Power demand resumes projected trajectory after weather-induced delay of one year. Home outline Hsoalmid bfiullrger Menu Icon with 16 PLF: Plant Load Factor; BU: Billion Units; O&M: Operations & Maintenance * Source: CEA APL: Resilience of business model reflected in stable revenues and robust profitability Particulars (Rs. in Crores) Unit Q1 FY27 Q1 FY26 % Change FY26 Installed Capacity (MW) MW 18,330 17,550 4.44% 18,150 Power Sales Volume (MU) MU 28,777 24,604 16.96% 99,148 Continuing Operating Revenue INR Cr 17,550 13,703 28.08% 53,781 Continuing Other Income INR Cr 385.52 464.55 -17.01% 1,801 Total Continuing Revenue INR Cr 17,936 14,167 26.60% 55,582 One-time Prior Period Income INR Cr 1,386.34 406.21 n.m. 2,283 Reported Revenue INR Cr 19,322 14,574 32.58% 57,865 Fuel cost (Includes purchase of traded goods and alternate power) INR Cr 9,539 7,319 30.34% 29,378 Other Operating expenses (Excl. of One time) INR Cr 2,800 1,511 85.30% 4,920 One-time Prior Period Expense INR Cr - - - 137 Continuing EBITDA (Adjusted for one-time income) INR Cr 6,983 5,744 21.57% 21,285 Reported EBITDA INR Cr 8,369 6,150 36% 23,431 Depreciation INR Cr 1,167 1,089 7.22% 4,565 Finance cost INR Cr 901.37 856.93 5.19% 3,367 Continuing Profit Before Tax INR Cr 4,914 3,798 29.38% 13,354 Profit Before Tax INR Cr 6,300 4,204 49.86% 15,500 Profit After Tax INR Cr 4,867 3,305 47.24% 12,971 ▪ Higher volumes and improved realization following strong growth in power demand along with higher operating capacity, leading to handsome growth in revenues ▪ Fuel cost increase due to higher volumes and increase in import fuel prices following energy market disruptions due to the geopolitical situation in the Middle East ▪ Higher operating expenses in line with growth in scale and recent acquisitions ▪ Strong growth in EBITDA in line with volume growth and improved realization, emphasizing core earnings strength ▪ Tight control on finance costs and disciplined financial planning leading to high earnings conversion and nearly 50% growth in Profit After Tax Home outline Hsoalmid bfiullrger Menu Icon with 17 EBITDA: Earning before Interest, Tax, Depreciation & Amortization; MW: Mega Watts; GW: Giga Watts; PPA: Power Purchase Agreement; FSA: Fuel Supply Agreement; O&M: Operations & Maintenance; kWh: kilo Watt hours (units); MU: Million Units TTM: Trailing Twelve Months; CSR: Corporate Social Responsibility APL: Consistent improvement in EBITDA delivering free cashflow for growth Reported PAT (₹ Crore) Reported Total Revenues (₹ Crore) 20,829 60,281 58,906 57,865 12,750 12,971 10,727 43,041 31,686 27,842 28,150 4,912 4,867 19,322 1,270 -2,275 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Q1 FY27 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Q1 FY27 Reported EBITDA (₹ Crore) Senior Term Debt / Equity Ratio (x) Continuing EBITDA FY22 5.32 28,111 to FY26 CAGR of 24% 24,008 23,294 9,322 2,433 2,146 13,789 14,312 2.57 10,597 1.86 5,800 5,772 18,789 21,575 21,148 8,369 7,059 3,745 1,386 0.99 1,285 0.65 0.50 0.67 0.66 5,774 6,852 7,989 8,540 6,983 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Q1 FY27 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Jun-26 Continuing One-time Reported Home outline Hsoalmid bfiullrger Menu Icon with 18 APJL: Adani Power Jharkhand Limited; MEL: Mahan Energen Limited; EBITDA: Earnings before Interest, Tax, Depreciation and Amortization; PAT: Profit After Tax; TTM: Trailing Twelve Months APL: Revenue & EBITDA Bridge INR Crores Growth in Revenues Q1 FY26 to Q1 FY27 3,847 79 1,386 406 19,322 17,936 17,936 14,574 14,168 Q1 FY26 Reported One-time income (Q1 Q1 FY26 Continuing Changes in volume Change in Continuing Q1 FY27 Continuing One-time income (Q1 Q1 FY27 Reported Revenue FY26) Revenue and rates Other Income Revenue FY27) Revenue Revenue growth through competitive power supply and growing capacity Growth in EBITDA Q1 FY26 to Q1 FY27 2,220 3,847 79 980 309 406 8,369 6,983 6,150 5,744 Q1 FY26 Reported One-time income Q1 FY26 Changes in volume Change in Change in fuel cost Change in Q1 FY27 Net One-time Q1 FY27 Reported EBITDA (Q1 FY26) Continuing EBITDA and rates Continuing Other Continuing Other Continuing EBITDA income (Q1 FY27) EBITDA Income Operating Expenses EBITDA growth through higher volumes and improved contribution margin Home outline Hsoalmid bfiullrger Menu Icon with 19 APL: Consolidated Debt Profile INR Crores Particulars Unit 30th June 2026 31st March 2026 31st Mar 2025 31st Mar 2024 Existing entities INR Cr 45,814 43,278 27,780 27,875 Under-construction project INR Cr 950 950 Total Senior Secured Loans (after Ind-AS adjustment) INR Cr 45,814 44,228 28,730 27,875 Working Capital Loans INR Cr 12,302 9,066 9,087 6,397 Inter-Corporate Deposits and other unsecured loans (incl. INR Cr 265 262 518 184 CRPS) Total Gross Debt INR Cr 58,381 53,556 38,335 34,457 Cash and Cash Equivalents INR Cr 10,739 8,534 7,311 7,912 Net Debt INR Cr 47,643 45,022 31,024 26,545 Net Debt / MW INR Cr 2.60 2.48 1.77 1.74 Net Fixed Assets INR Cr 1,09,698 1,04,445 81,402 63,941 Net Fixed Assets / Net Total Debt (times) INR Cr 2.30x 2.32x 2.62x 2.41x Continuing EBITDA (TTM) INR Cr 22,524 21,285 21,575 18,789 Net Total Debt / Continuing EBITDA (TTM) (times) INR Cr 2.12x 2.12x 1.44x 1.41x Largely self-funded capital expenditure and prudent debt management helping maintain high creditworthiness * Continuing EBITDA include EBITDA of 1,600 MW Godda power plant for partial period of FY24, while entire project debt pertaining to the plant is included in Senior and Total Debt as of 31st March 2023 and 31st March Home outline Hsoalmid bfiullrger Menu Icon with 21 2024. The Godda project was commissioned during Q1 FY24. CRPS: Compulsory Redeemable Preference Shares | TTM: Trailing Twelve Month Capital Structure: Strong Financials Power Self-Funded Growth with Low Leverage & High Cashflows Key Rating highlights: Rating • APL’s Strong revenue visibility supported March 2023 March 2025 January 2026 Agency by high PPA tie-ups, stable operations, Rating Track and a robust balance sheet. Record • Recent capacity tie-ups have further - AA/Stable AA/Stable 6 strengthened the balance sheet and improved the credit profile. A/Positive AA/Stable AA/Stable • More than 90% of 18.15 GW capacity is tied up under PPAs years A/Stable AA/Stable AA/Stable* • 87% of domestic coal-based capacity has fuel security in form of long-term FSAs 8 notches ▲ - AA/Stable AA/Stable* ₹ 4,715 Cr ₹ 22,524 Cr 8 notches upgrade in last 6 years with increased coverage from one rating agency to four rating agencies June ‘26 TTM FY19 Continuing Continuing EBITDA EBITDA Net Debt to Continuing EBITDA 9.75x 9.18x ₹ 45,957 Cr ₹ 47,643 7.39x 5.74x 4.62x Cr 1.41x 1.44x 2.12x 2.12x 46.0 53.0 50.6 45.8 45.0 47.6 39.4 FY19 Net Debt June ‘26 Net Debt 31.0 26.5 18.8 21.6 21.3 22.5 4.7 5.8 6.9 8.0 8.5 9.75 times 2.12 times FY19 Net Debt / FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Jun'26 (TTM) June ‘26 Net Debt Continuing / Continuing EBITDA EBITDA (TTM) Net Debt (₹ '000 Crore) Continuing EBITDA (₹ '000 Crore) Net Debt to Continuing EBITDA (x) Home outline Hsoalmid bfiullrger Menu Icon with 22 m: million; Cr: Crores; k: Thousand; MT: Million Tonnes; MTPA: Million Tonnes Per Annum; EBITDA: Earning before Interest, Tax, Depreciation & Amortization; MW: Mega Watts; GW: Giga Watts; PPA: Power Purchase Agreement; FSA: Fuel Supply Agreement; O&M: Operations & Maintenance; kWh: kilo Watt hours; TTM: Trailing Twelve Months; * Rating enhancement under progress; expected to be completed by Feb’26 5 Progress in Capacity Expansion Projects 4 Locked-in Growth: Secured Project Portfolio of Developed Sites & Critical Equipment Availability Strategic Advantages Fully Locked-in Growth Projects in Advanced Stages of Development Environ- Equipment 60 % 63 % 100 % 100 % Project MW Land Ordering mental PPA Clearance Brownfield Near-pithead Land available BTG ordering Korba Ph-II 1,320 MW Bids ongoing Project cost Fuel cost Execution Supply chain Mahan Ph-II 1,600 MW 1,320 MW advantage advantage assurance assurance Raipur Ph-II 1,600 MW 1,600 MW Derisked Execution Raigarh Ph-II 1,600 MW Bids ongoing Mirzapur 1,600 MW 1,600 MW Brownfield development model: • No delay on account of land acquisition Mahan Ph-III 1,600 MW Bids ongoing • Faster clearances and permissions Kawai Ph-II 1,600 MW Bids ongoing Korba Ph-III 1,600 MW In progress Bids ongoing Pirpainti 2,400 MW 2,400 MW Project execution control: Kawai Ph-III 1,600 MW Bids ongoing • Greater flexibility in scheduling and direct assurances from vendors Anuppur 2,400 MW 1,600 MW and suppliers Raigarh Ph-III 1,600 MW In progress Bids ongoing Chapar (1) 3,200 MW 3,200 MW Project supply chain assurance: • Assured availability of most critical parts of the power projects, To be assigned 1,600 MW 1,600 MW through advance ordering of 22.4 GW of BTG sets Organic Total 23,720 MW 100% 100% 87% 13,320 MW m: million | Cr: Crores | k: Thousand | MT: Million Tonnes | EBITDA: Earning before Interest, Tax, Depreciation & Amortization | MW: Mega Watts | GW: Giga Watts | PPA: Power Purchase Agreement | O&M: Operations & Maintenance | BTG: Boilers, Turbines, and Home outline Hsoalmid bfiullrger Menu Icon with 24 Generators (1) APL has received Letter of Award for a 3,200 MW long term PPA from Assam DISCOM 4 Locked-in Growth: Growing set of opportunities for private sector participation Significant capacity tied up in long term PPAs Upcoming Long-term PPA Bids for New Capacity Coal Bid State MW Status and Timeline for Capacity Tie-ups (MW) Allocation Invitation 42,050 13,320 MW of new PPAs Uttar Pradesh 4,000 MW Issued for upcoming projects 1,600 10,220 11,133 3,200 Gujarat 4,000 MW Issued 18,330 2,400 1,600 1,600 1,600 913 1,320 31,650 Uttarakhand 1,320 MW Issued 30,737 17,417 West Bengal* 3,860 MW Issued Installed May '20 Oct '24 May '25 Sep '25 Sep '25 (Bihar) Nov '25 Mar '26 Tie-ups in Total Target Capacity (Madhya (Maharashtra)(Uttar Pradesh) (Madhya (Assam) (Maharashtra) Progess Capaciy (Current) Pradesh) Pradesh) Total 13,180 MW Ongoing bids for long term PPAs Tied-up Current Capacities Tie-ups in Progress Total Tied-up Capacities * West Bengal bids include 1,600 MW Santaldih, 800 MW Durgapur, 660 MW Bakreshwar, and 800 MW Greenfield projects Capacity Expansion Timeline(1) 5,600 6,400 Promising Demand Outlook 4,800 4,000 • Coal allocations to states under SHAKTI policy for inviting 1,600 1,320 42,050 competitive bids for Long-term thermal power supply based on Resource Adequacy Reports 18,330 • States have awarded 19.3 GW PPAs in last two financial Installed FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 FY 2031-32 Target Capacity Capacity years, of which APL has won bids for 12.6 GW (Current) Tied-up Current Capacities (MW) Capacity Addition (MW) m: million | Cr: Crores | k: Thousand | MT: Million Tonnes | EBITDA: Earning before Interest, Tax, Depreciation & Amortization | MW: Mega Watts | GW: Giga Watts | PPA: Power Purchase Agreement | O&M: Operations & Maintenance | BTG: Boilers, Turbines, and Home outline Hsoalmid bfiullrger Menu Icon with 25 Generators | (1) Excludes 3 GW of projects at proposal stage Project Gallery: Showcasing Execution Excellence Across Large & Complex Projects Mahan Phase-II Project Raipur Phase-II Project Raigarh Phase-II Project Korba Phase-II Project (2 x 800 MW) (2 x 800 MW) (2 x 800 MW) (2 x 660 MW) Side View of BTG & MPH Area Induced Draft Cooling Tower Erection Work in progress Hydrobin Erection Work Under Progress Unit #3 Turbine Bay Overview Wagon Tippler- 4 & 5 Junction Tower Structure erection Unit #4- PA Fan “B” Fitup Circulating Water Pump House Belt Conveyer Main CHP Control Room Unit #4- ID Fan “A” Work Home outline Hsoalmid bfiullrger Menu Icon with 26 MW: Mega Watts | BTG: Boiler, Turbine, and Generator | MPH: Main Power House | CCR: Central Control Room | CHP: Coal Handling Plant | ID: Induced Draft | PA: Primary Air APL: ESG Highlights Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Climate Change Adaptation and mitigation • Average Emission intensity - 0.86 tCO e/MWh for FY26. Climate Change 2 • Climate Change Risk Assessment carried out. Adaptation • Greater emphasis on decarbonization aligning with Nation’s goal. and Mitigation Reduction in GHG emission • Signed IBBI 2.0 declaration reaffirming our commitment to biodiversity 0.84 conservation intensity to tCO2e/MWh by FY27 Water Management • Water Intensity: 2.42 m3/MWh for Q1 FY27 for inland plants and 2.24m3/MWh for all plants. • Maintained Zero Liquid Discharge at all our hinterland TPPs. Waste Management • All 13 APL operating locations certified with Single-use Plastic Free certification Waste Management Single-use-Plastic-Free (SuPF) • 93% ash utilization in Q1 FY27. Avoided 3.7 million tCO 2 e emissions replacing clinker production by fly ash. Certified Company for 100 Health, Safety and Well-being % of operating • All Plants and Offices assessed on working conditions and health and safety locations • Zero health and safety related injuries • 1.82 Millions beneficiaries benefited under various CSR programs. ESG Rating Highlights Health and • APL achieved an exceptional score of 69/100 in Corporate Sustainability Safety Assessment (CSA) by S&P Global for FY25. 0 • For FY25, ESG rating of 80/100 (CareEdge ESG 1+, ‘Leadership’ position) awarded Zero health & safety by CareEdge ESG Ratings, outperforming the industry median by 35%. related injuries • APL has received an ESG rating of 65 for FY25 from NSE Sustainability Ratings & Analytics (NSRA) holding an ‘Aspirational’ position. • Morningstar Sustainalytics latest ESG Risk Rating: 32.03 (High Risk). • Scored 3.5/5.0 in FTSE Russel ESG rating for FY25. • Achieved score of B (Management) both in CDP-Climate and CDP-Water for FY25. Home outline Hsoalmid bfiullrger Menu Icon with 28 SUP: Single Use Plastics l MWp: Mega Watt Peak l O&M: Operation & Maintenance l GHG : Green House Gas l APJL: Adani Power Jharkhand Limited l MEL: Mahan Energen Limited UNSDG: United Nations Sustainability Development Goals l ESG : Environment Social Governance l APL: Adani Power Limited | tCO2e: Tonnes of Carbon Dioxide Equivalent APL: Board of Directors and Management Overview Board of Directors 100% Chaired Chaired IDs By IDs By NID Independent Directors Statutory Committees 40% - Audit 🗹 Comprised of only Independent Directors - Nomination & Remunerations 🗹 - Stakeholder Relationship 🗹 100% of Statutory Committees - Corporate Social Responsibility 🗹 Chaired by Independent Directors - Risk Management 🗹 Non-statutory Committees - IT & Data Security 🗹 6 Sangeeta Manmohan Shailesh Narendra Nath Additional Business Singh Srivastava Haribhakti Misra - Corporate Responsibility 🗹 specific committees 17% - Mergers and Acquisition Risk 🗹 35+ Yrs of Experience 40+ Yrs of Experience 50+ Yrs of Experience 45+ Yrs of Experience Committee Fully comprised of Skill & Expertise Skill & Expertise Skill & Expertise Skill & Expertise - Legal, Regulatory & Tax Risk 🗹 Independent Directors • Taxation • Energy & Finance • Accounting & Finance • Projects & Contracting Committee 83% • Strategy Formulation • General Management • ESG, CSR, and • Human Resources & - Reputation Risk 🗹 Chaired by Sustainability Operations Services Independent Directors - Commodity Price Risk 🗹 Non-Independent Directors Pathway to strengthen Corporate Governance • Tenure of IDs – up to 3 years for max. 2 terms • Management Ownership – CEO and member of executive committees to Gautam Rajesh Anil Shersingh Adani Adani Sardana Khyalia have share ownership Chairman Director Managing Director Whole-time Director and CEO • Related Party Transactions – Independent 3rd party review & certification Skill & Expertise Skill & Expertise 40+ Yrs of Experience 35+ Yrs of Experience • Entrepreneurial vision • Business relationship Skill & Expertise Skill & Expertise • Training & Education – Min. 4 sessions in a year for education of IDs • Business Leadership • Execution • Industry veteran • Industry expert • Strategic leadership • Strategic management • Transition & Development • Growth & Change management Chairperson of Audit committee; Chairman of Nomination and Remuneration committee; Home outline Hsoalmid bfiullrger Menu Icon with 29 ID: Independent Director I NID: Non-Independent Director | Information is as on Date | CEO: Chief Executive Officer APL: Key Investment Highlights Key Investment Highlights • Abundant domestic coal availability and scalability • Enduring part of the fuel mix based on policy, economic rationale and actual on ground action Coal is Critical for India’s • Insulates base load generation from global volatility and geopolitical risk, ensuring energy Base load power needs security • India’s largest private thermal power producer with portfolio of 18.33 GW spread across 9 states APL is a market leader for baseload Efficient and Diversified • Successful acquisition & turnaround of 7.5 GW stressed assets power in India, delivering industry Asset Portfolio • Adani Power drives meaningful economies of scale as a result leading return on capital • Consistent 90%+ plant availability maintained over many years, aided by strong digital focus Operational Excellence • Highest EBITDA margin in the sector (40% in Thermal power) • Decades of in-house coal sourcing and end to end logistics management experience • Fully Locked-in Land & Equipment → 100% land availability and 100% BTG sets ordered for 23.7 GW Locked-in growth Brownfield/Greenfield projects executed by Adani Locked-in growth • Execution model → 60% of upcoming capacity is brownfield, enabling faster project execution Execution engine + • Adani Execution engine led by Project Management and Assurance Group (PMAG) Vast addressable market • 97 GW of additional thermal capacity needed by 2035 to meet India’s growing base load and peak Massive Addressable + demand Market with strong • Derisked PPAs interlinked with assured fuel supply through domestic coal linkages Derisked PPA structure Policy thrust • Two-part, availability-based tariff structure under PPAs ensure capital charge recovery → Unique long-term growth access • Effectively unlevered capital structure provides APL with significant free cashflow to equity Robust Capital → • Strong liquidity provides financial flexibility to take advantage of market opportunities. Well-funded capital plan for APL Structure • Majority of the capital expenditure will be funded through Internal Accruals. Home outline Hsoalmid bfiullrger Menu Icon with 31 m: million | Cr: Crores | k: Thousand | MT: Million Tonnes | EBITDA: Earning before Interest, Tax, Depreciation & Amortization | MW: Mega Watts | GW: Giga Watts | PPA: Power Purchase Agreement | O&M: Operations & Maintenance | IPP: Independent Power Project | BU: Billion Units | ENOC: Energy Network Operations Center | BTG: Boilers, Turbines, and Generators Thank You SSTTRRIICCTTLLYY CCOONNFFIIDDEENNTTIIAALL Annexures Operational and Financial Performance SSTTRRIICCTTLLYY CCOONNFFIIDDEENNTTIIAALL APL: Historical Financials | Profit and Loss Account CAGR Q1 FY27 Insights Particulars Unit FY22 FY23 FY24 FY25 FY26 Q1 FY27 (FY22-26) Operating Metrics Effective Capacity MW 12,450 13,650 15,051 16,545 18,000 18,150 10% Plant Availability % 95% 94% 92% 91% 89% 96% 18,330 MW PLF % 52% 48% 65% 71% 67% 78% PPA Realisation ₹/ kWh 4.75 6.46 6 5.6 5.53 5.93 Operating Capacity Merchant Realisation ₹/ kWh 3.83 6.98 6.92 5.93 5.3 7.05 Profit and Loss Statement Revenue from Operations INR Cr 27,711 38,773 50,351 56,203 54,241 18,902 18% ₹ 18,901 Cr Other Income INR Cr 3,975 4,267 9,930 2,703 3,625 420 -2% Revenue from Operations Total Income INR Cr 31,686 43,041 60,281 58,906 57,865 19,322 16% Fuel Cost INR Cr 14,762 25,481 28,453 30,273 29,168 9,513 19% Purchase of Stock-in-Trade and Power INR Cr 546 214 222 357 210 26 -21% Transmission Charges INR Cr 643 520 504 459 557 140 -5% ₹ 8,369 Cr 18% Employee Benefit Expenses INR Cr 470 570 644 784 855 242 16% Other Expenses INR Cr 1,476 1944 2,348 3,024 3,644 1,033 25% EBITDA 3Y CAGR Total Operating Expenses INR Cr 17,897 28,728 32,171 34,897 34,434 10,953 18% EBITDA INR Cr 13,789 14,312 28,111 24,008 23,431 8,369 14% 43% EBITDA Margin % % 43% 33% 47% 41% 40% 43% EBITDA Margin Share of profit from Associate / jV 118 Depreciation and Amortization INR Cr 3,118 3,304 3,931 4,309 4,565 1,167 10% Finance Costs INR Cr 4,095 3,334 3,388 3,340 3,367 901 -5% Current Tax INR Cr 768 1 0 55 1561 1416 19% ₹ 4,867 Cr 7% Tax Expense Relating to earlier years INR Cr - -768 14 2 -16 0 Deferred Tax Charge/ (Credit) INR Cr 977 -2,500 -51 3,553 984 136 0% Profit After Tax 3Y CAGR Sub-total INR Cr 8,958 3,371 7,282 11,259 10,460 3,620 4% Profit After Tax (PAT) INR Cr 4,912 10,727 20,829 12,750 12,971 4,867 27% Earnings Per Share ₹/ Share 1.93 4.91 10.32 6.46 6.62 2.49 36% Home outline Hsoalmid bfiullrger Menu Icon with 34 MW: Megawatt; kWh: Kilowatt Hour; PLF: Plant Load Factor; PPA: Power Purchase Agreement; EBITDA: Earnings before Interest, Tax, Depreciation and Amortization; Cr: Crore; CAGR: Compounded Annual Growth Rate APL: Historical Financials | Balance Sheet Particulars Unit 31st Mar 2022 31st Mar 2023 31st Mar 2024 31st Mar 2025 31st Mar 2026 Q1 FY27 Insights Assets Non-Current Assets Gross Fixed Assets (Incl. CWIP) INR Cr 84,214 88,208 91,634 1,13,215 1,40,501 INR 1,47,195 Cr (-) Accumulated Depreciation INR Cr (20,670) (23,878) (27,693) (31,813) -36,046 Net Fixed Assets (Incl. CWIP) INR Cr 63,544 64,331 63,941 81,402 1,04,455 Fixed Assets Base incl CWIP Of which- CWIP INR Cr 10,270 12,880 925 12,104 35,053 Other Non-Current Assets INR Cr 2,209 1,937 2,797 5,186 9,137 Total Non-Current Assets INR Cr 65,753 66,268 66,738 86,588 1,13,592 INR 10,738 Cr Current Assets Cash and Cash Equivalents Cash and Cash Equivalents INR Cr 2,365 1,873 7,212 6,120 8,418 including deposits and current Other Current Assets INR Cr 13,863 17,679 18,375 20,209 20,270 investments Total Current Assets INR Cr 16,228 19,553 25,587 26,329 28,688 15.3% Total Assets INR Cr 81,981 85,821 92,325 1,12,918 1,42,280 Liabilities Return on Assets (June ’26 TTM) Equity Equity Share Capital INR Cr 3,857 3,857 3,857 3,857 3,857 Instrument Entirely Equity in nature INR Cr 13,215 13,215 7,315 3,057 - 19.5% Other Equity INR Cr 1,632 12,804 31,973 49,433 61,080 Return on Capital Employed (June ’26 Non-Controlling Interest INR Cr - - - 1,326 1,465 Total Equity INR Cr 18,703 29,876 43,145 57,674 66,402 TTM) Liabilities Long Term Borrowings INR Cr 37,871 33,703 26,595 27,647 44,493 22.6% Short Term Borrowings INR Cr 10,924 8,549 7,862 10,688 9,063 Other Liabilities INR Cr 14,482 13,694 14,723 16,909 22,322 Return on Equity (June ’26 TTM) Total Liabilities INR Cr 63,278 55,946 49,180 55,244 75,878 Total Equity and Liabilities INR Cr 81,981 85,821 92,325 1,12,918 1,42,280 Return on Assets (RoA) % 17.1% 16.6% 31.3% 23.4% 18.5% Return on Capital Employed (RoCE) % 16.0% 15.8% 32.3% 22.7% 17.5% Return on Equity (RoE) % 30.9% 44.2% 57.0% 25.3% 20.9% Home outline Hsoalmid bfiullrger Menu Icon with 35 CWIP: Capital Work in Progress | RoA = Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)/ Average Gross Fixed Assets | RoCE = Earnings before Interest and Tax (EBIT)/ Average Capital Employed; Capital Employed = Total Equity + Long-Term Borrowings + Short-Term Borrowings | RoE = Profit After Tax (PAT)/ Average Total Equity | Cr: Crore | TTM: Trailing Twelve Months