Adani Power Integrated Annual Report 2024

Message from the Chairman

We have become – more formidable, more unbreakable, stronger and more resilient!

Gautam Adani

We have become – more formidable, more unbreakable, stronger and more resilient! - GAUTAM ADANI

Adani Enterprises Limited

Adani Ports And Special Economic Zone Limited

Adani Energy Solutions Limited

Adani Green Energy Limited

Adani Total Gas Limited

Ambuja Cements

Adani Power Limited

AWL Agri Business Limited

NDTV Limited

Adani Enterprises Limited

One of the

INDIA’S

business incubator

Adani Ports And Special Economic Zone Limited

One of the

INDIA’S

Integrated Transport Utility

Adani Energy Solutions Limited

One of the

INDIA’S

private-sector and transmission and distribution company

Adani Green Energy Limited

One of the

WORLD’S

and fastest growing RE companies

Adani Total Gas Limited

One of the

INDIA’S

city gas distributor

Ambuja Cements

One of the

INDIA’S SECOND

cement manufacturer

Adani Power Limited

One of the

INDIA’S

private-sector thermal power producer

AWL Agri Business Limited

One of the

INDIA’S

edible oil brand and a leading packaged foods player

NDTV Limited

One of the

AMONG INDIA’S MOST

media companies

Empowering every Indian, every step forward.

350 Million Indians^#

Impacted by Adani’s core infra platform

USD 100 billion^#

Investment in green energy transition by 2030

~USD 71 billion

Asset base ensuring resilient critical infrastructure and best-in-class performance across its life cycle

#Consolidated Adani portfolio of companies

₹74,945 crore

Total global tax and other contributions

₹539 crore

towards CSR for FY 2024-25

₹12,05,710 crore

Market capitalisation

Note: Consolidated Adani portfolio of companies in FY 2024-25

FY 2025 (₹ In crore)

APL 58,906

APSEZ 32,383

AESL 24,447^

AEL 1,00,365

AGEL 12,422

ATGL 5,442

Ambuja Cements 37,699

FY 2025 (₹ In crore)

APL 23,917

APSEZ 20,471

AESL 7,746

AEL 17,315

AGEL 10,532

ATGL 1,179

Ambuja Cements8,645

FY 2025 (₹ In crore)

APL 12,750

APSEZ 11,061

AESL 922^#

AEL 8,018^*

AGEL 2,002

ATGL 654

Ambuja Cements5,158

Please Note: Revenue and Adjusted EBITDA includes Other Income

^{^}Includes SCA income of ₹5,064 crore in FY 2024-25

^#AESL PAT is after an exceptional item of ₹1,506 crore due to carve-out of the Dahanu power plant

^* Due to recognition of gain consequent to OFS of stake in AWL Agri Business Limited (formerly known as Adani Wilmar Limited)

PAT - Profit after tax including profit/loss from JV | EBITDA: Earning before Interest, Tax Depreciation & Amortisation | Adjusted EBITDA: PAT + Share of profit from JV & Associates + Current Tax + Deferred Tax + Depreciation & Amortisation + Finance Cost + Unrealised Forex Loss / (Gain) + Exceptional Items

01 / 06

Accelerating India’s Rise with Industry-Best Performance

Performance Highlights FY 2024-25

01 / 06

Accelerating India’s Rise with Industry-Best Performance

Operational Performance

OPERATIONAL PERFORMANCEExcellence driven by resilient performance

Key Statistics

2,300 MW

Capacity added in FY 2024-25

91%

O&M availability

71%

Plant load factor (PLF) achieved in FY 2024-25

96 BU ( 21%)

Despatch performance achieved in FY 2024-25

79%

Contracted Power Purchase Agreement (PPA)
Sales volume mix achieved during FY 2024-25

21%

Merchant / Short Term

Joint message from the Managing Director and Chief Executive Officer

Our ambitious expansion plan – from 17,550 MW in FY 2024-25 to 30,670 MW by FY 2029-30, with addition of 12,520 MW capacity organically – will be instrumental in meeting the country’s power demand.
- ANIL SARDANA
Managing Director

We capitalised on our solid foundation to consolidate our market-leading position and boldly stepped into the next phase of growth with ambitious expansion plans.
- S.B. KHYALIA
Chief Executive Officer

Powering India’s progress

Adani Power is India’s largest and fast-growing thermal power producer in the private sector.

ABOUT ADANI POWER LIMITED

Powering India’s progress

Adani Power is India’s largest and fast-growing thermal power producer in the private sector.

Natural Capital
Value Creation Model

Business Model

Natural Capital
Input

5.74 lakh trees planted (plantation of 7.85 million pledged by 2030)

9 out of 12 operating locations single-use plastic-free certified
Outcomes

Responsibly limiting our impact and adhering to guidelines and regulations

0.85 tCO₂e/MWh GHG emissions

100.68% ash utilisation

2.17 m³/MWh water intensity
Outputs

74.1 billion unitsof power generated

12.33 MMTfly ash generated
Our Business and Operating Model

Vision

Be a transformative force in power generation, empowering lives and contributing to the energy security of nations by providing sustainable, affordable and reliable power

Business Activities

Power Generation and Sales

Other Financial Investments

Asset Creation
Read More
Social & Relationship Capital
Value Creation Model

Business Model

Social & Relationship Capital
Input

Active engagement with stakeholders including customers, suppliers, regulatory bodies and communities

Long-term relations with customers and communities

344 suppliers on-boarded on ESG criteria
Outcomes

Fulfilling energy needs of society

Supporting local vendors with 23.6% raw material procurements

12,34,155 people benefited through CSR activities including three aspirational districts (Baran, Godda, Singrauli)
Outputs

102.2 billion unitsof power generated

15.44 MMTash generated
Our Business and Operating Model

Vision

Be a transformative force in power generation, empowering lives and contributing to the energy security of nations by providing sustainable, affordable and reliable power

Business Activities

Power Generation and Sales

Other Financial Investments

Asset Creation
Read More
Human Capital
Value Creation Model

Business Model

Human Capital
Input

4,210 employees

15,133 contract workforce

2.42% female representation

7,90,985 person-hours of training provided covering 100% employees

0.24 man-megawatt ratio
Outcomes

Higher employee productivity at ₹4.2 crore EBIT/employee

Lower attrition rate at 7.39

0/0.19 LTIFR (Employees/Workers)
Outputs

102.2 billion unitsof power generated

15.44 MMTash generated
Our Business and Operating Model

Vision

Be a transformative force in power generation, empowering lives and contributing to the energy security of nations by providing sustainable, affordable and reliable power

Business Activities

Power Generation and Sales

Other Financial Investments

Asset Creation
Read More
Intellectual Capital
Value Creation Model

Business Model

Intellectual Capital
Input

₹3.42 crore spent on various cloud, digital transformation and automation initiatives

Cloud-based Energy Network Operations Centre (ENOC) for centralised monitoring

Analytics Centre of Excellence for data-driven operations
Outcomes

Improved decision-making with data analytics

Business process transformation

Improvement of management systems
Outputs

102.2 billion unitsof power generated

15.44 MMT ash generated
Our Business and Operating Model

Vision

Be a transformative force in power generation, empowering lives and contributing to the energy security of nations by providing sustainable, affordable and reliable power

Business Activities

Power Generation and Sales

Other Financial Investments

Asset Creation
Read More
Manufactured Capital
Value Creation Model

Business Model

Manufactured capital
Input

India’s largest private power producer with 17,550 MW operational capacity and 6,120 MW under-construction capacity

100% of under-construction capacity utilises supercritical / ultra-supercritical technologies, ensuring low GHG emissions and high-efficiency
Outcomes

India’s largest private IPP accounting for 21.2% (private) and 7.2% (aggregate) of India’s coal + lignite generation capacities

91% plant availability and 71% plant load factor
Outputs

102.2 billion unitsof power generated

15.44 MMTash generated
Our Business and Operating Model

Vision

Be a transformative force in power generation, empowering lives and contributing to the energy security of nations by providing sustainable, affordable and reliable power

Business Activities

Power Generation and Sales

Other Financial Investments

Asset Creation
Read More
Financial Capital
Value Creation Model

Business Model

Financial capital
Input

₹57,674 crore of total equity

₹7,312 crore in cash and cash equivalents
Outcomes

₹58,906 crore Reported Revenue

₹24,008 crore Reported EBITDA

₹12,750 crore PAT

₹21,501 crore cash flows from Operations

Deleveraged balance sheet and improved debt service coverage resulting in improved credit rating to AA
Outputs

102.2 billion unitsof power generated

15.44 MMTash generated
Our Business and Operating Model

Vision

Be a transformative force in power generation, empowering lives and contributing to the energy security of nations by providing sustainable, affordable and reliable power

Business Activities

Power Generation and Sales

Other Financial Investments

Asset Creation
Read More

Stakeholder engagement

Nurturing ties, Fostering Sustainability

At Adani Enterprises, we recognise that engaging with stakeholders is crucial to achieving our strategic objectives.

Strategic prioritisation for sustainable success

At AEL, materiality assessment is more than just a strategic tool; it is a reflection of our core values and a testament to our unwavering commitment to sustainable growth.

Managing & mitigating risks effectively

The AEL risk management strategy and framework are crafted to the evolving industry trends, as well as the various existing and emerging risks faced by the Company in the course of its business.

Investing in incubation to emerge stronger

The strategic focus, at Adani Enterprises, is not only defined purely by the needs of today but it is also guided by the need to build a resilient nation empowered for tomorrow’s growth.

01 / 04

Stakeholder engagement

Nurturing ties, Fostering Sustainability

At Adani Enterprises, we recognise that engaging with stakeholders is crucial to achieving our strategic objectives.

Double materiality

Strategic prioritisation for sustainable success

At AEL, materiality assessment is more than just a strategic tool; it is a reflection of our core values and a testament to our unwavering commitment to sustainable growth.

Risk and opportunities

Managing & mitigating risks effectively

The AEL risk management strategy and framework are crafted to the evolving industry trends, as well as the various existing and emerging risks faced by the Company in the course of its business.

Strategy

Investing in incubation to emerge stronger

The strategic focus, at Adani Enterprises, is not only defined purely by the needs of today but it is also guided by the need to build a resilient nation empowered for tomorrow’s growth.

Environment, Social and Governance

ESG Approach

Prioritising ESG: Turning Purpose into Action

Environment

Our commitment to environmental stewardship

Social: Health and safety

Caring beyond compliance

Social: Employees

Social: Corporate social responsibility

Building stronger ties with the communities

Social: Responsible sourcing

Seamless supply through sustainable choices

Governance

Energising ethics and excellence

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2024-25 Integrated Annual Report

DOWNLOAD REPORT

Strength with Resilience

Message from the Chairman

We have become – more formidable, more unbreakable, stronger and more resilient!

Gautam Adani

We have become – more formidable, more unbreakable, stronger and more resilient! - GAUTAM ADANI

EMPOWERING THE NATION, SUSTAINING THE PLANET

Adani Enterprises Limited

Adani Ports And Special Economic Zone Limited

Adani Energy Solutions Limited

Adani Green Energy Limited

Adani Total Gas Limited

Ambuja Cements

Adani Power Limited

AWL Agri Business Limited

NDTV Limited

Adani Enterprises Limited

INDIA’S

Adani Ports And Special Economic Zone Limited

INDIA’S

Adani Energy Solutions Limited

INDIA’S

Adani Green Energy Limited

WORLD’S

Adani Total Gas Limited

INDIA’S

Ambuja Cements

INDIA’S SECOND

Adani Power Limited

INDIA’S

AWL Agri Business Limited

INDIA’S

NDTV Limited

AMONG INDIA’S MOST

Empowering every Indian, every step forward.

Empowering every Indian, every step forward.

350 Million Indians#

USD 100 billion#

~USD 71 billion

₹74,945 crore

₹539 crore

₹12,05,710 crore

Consolidated FY 2024-25 Revenue ₹2,71,664 crore

FY 2025 (₹ In crore)

APL 58,906

APSEZ 32,383

AESL 24,447^

AEL 1,00,365

AGEL 12,422

ATGL 5,442

Ambuja Cements 37,699

Consolidated FY 2024-25 Adjusted EBITDA ₹89,806 crore

FY 2025 (₹ In crore)

APL 23,917

APSEZ 20,471

AESL 7,746

AEL 17,315

AGEL 10,532

ATGL 1,179

Ambuja Cements8,645

Consolidated FY 2024-25 PAT ₹40,565 crore

FY 2025 (₹ In crore)

APL 12,750

APSEZ 11,061

AESL 922#

AEL 8,018*

AGEL 2,002

ATGL 654

Ambuja Cements5,158

Accelerating India’s Rise with Industry-Best Performance

Performance Highlights FY 2024-25

Accelerating India’s Rise with Industry-Best Performance

Operational Performance

OPERATIONAL PERFORMANCEExcellence driven by resilient performance

Key Statistics

2,300 MW

91%

71%

96 BU ( 21%)

350 Million Indians^#

USD 100 billion^#

AESL 922^#

AEL 8,018^*

Our ambitious expansion plan – from 17,550 MW in FY 2024-25 to 30,670 MW by FY 2029-30, with addition of 12,520 MW capacity organically – will be instrumental in meeting the country’s power demand.
- ANIL SARDANA
Managing Director

We capitalised on our solid foundation to consolidate our market-leading position and boldly stepped into the next phase of growth with ambitious expansion plans.
- S.B. KHYALIA
Chief Executive Officer