‌Adani Power Limited

Investor Presentation | April 2025









  1. ‌Adani Portfolio Overview

  2. Executive Summary : Adani Power Limited ("APL")

    1. Base load power demand to drive growth

    2. High Quality Existing Asset Portfolio

    3. Deep Project Execution Expertise with an Attractive Portfolio of Locked In Assets

    4. Self Funded Growth: Conservative Leverage supports high cashflow generation

    5. APL: ESG Practice

    6. Conclusion Annexures



3

A

Adani Portfolio Overview




Adani Portfolio: A World class Infrastructure & Utility portfolio






Flagship

Incubator

Infrastructure & Utility Core Portfolio

Energy & Utility

(73.97%)

AEL

(100%) (50.00%)

ANIL

New Industries

AdaniConneX3

Data Centre

(100%) (100%)

AAHL

Airports

ARTL

Roads

(100%)

Direct to consumer

Emerging B2C

Materials, Metal & Mining

Primary Industry

Transport & Logistics

Copper, Aluminum (100%)

PVC

Specialist Manufacturing5

(100%)

(100%)

ADL

Digital

NDTV

(64.71%)

(60.94%)

AGEL

Renewables

(74.96%)

APL

IPP

Mining Services & Commercial Mining

(100%)

AWL6

Food FMCG

(30.42%)

(69.94%) (37.40%)

(65.89%) (100%)

(67.53%)

AESL

T&D

ATGL2

Gas Discom

APSEZ

Ports & Logistics

Cement4

NQXT1



Listed cos



Direct Consumer

(%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries

A multi-decade story of high growth centered around infrastructure & utility core

1. NQXT: North Queensland Export Terminal. On 17th Apr'25, BOD have approved the acquisition of NQXT by APSEZ. | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Data center, JV with EdgeConnex, | 4. Cement includes 67.53% (67.57% on Voting Rights basis) stake in Ambuja Cements Ltd. as on 31st Mar'25 which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited. Ambuja Cements Ltd. holds 58.08% stake in Sanghi Industries Ltd. Ambuja Cements Ltd. holds 46.66% stake in Orient Cement Ltd. w.e.f 22nd Apr'25.| 5. Includes the manufacturing of Defense and Aerospace Equipment | 6. AWL Agri Business Ltd. : AEL to exit Wilmar JV, diluted 13.50% through Offer For Sale



5

(13thJan'25), residual stake dilution is pursuant to agreement between Adani & Wilmar Group. | 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; AWL: Adani Wilmar Limited; ADL: Adani Digital Labs Pvt. Limited; IPP: Independent Power Producer | NDTV: New Delhi Television Ltd | PVC: Polyvinyl Chloride l Promoter's holdings are as on 31st March, 2025.



Adani Portfolio: Decades long track record of industry best growth with national footprint


Growth

EBITDA

3x 6

92% 1,3,4



AEL APSEZ AGEL ATGL AESL APL

Adani Cement

Adani's Core Infra.

Platform -

350 Mn

Userbase



Secular growth with world leading efficiency National footprint with deep coverage

Growth

EBITDA

3x 6

72% 1,2,3





Growth

EBITDA

3x 6

38% 1,3



Growth

EBITDA

4x 6

92% 1,2,3,5



6

Note: 1. Provisional data for FY25 ; 2. Margin for Indian ports business only l Excludes forex gains/losses; 3. 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 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating EBITDA margin of transmission business only, does not include distribution business l 6. Growth pertains to expansion and development aligned with market growth. Growth of respective Adani portfolio company vs. Industry growth is as follows: APSEZ's cargo volume surged from 113 MMT to 430.6 MMT (13%) between 2014 and 2025, outpacing the industry's growth from 972 MMT to 1,593 MMT (5%). AGEL's operational capacity expanded from 0.3 GW to 14.2 GW (54%) between 2016 and 2025, surpassing the industry's growth from 46 GW to 172.4 GW (16%). AESL's transmission length increased from 6,950 ckm to 26,696 ckm (16%) between 2016 and 2025, surpassing the industry's growth from 3,41,551 ckm to 4,94,424 ckm (4%). APL's operational capacity expanded from 10.5 GW to 17.6 GW (6%) between 2016 and 2025, outperforming the industry's growth from 185.2 GW to 221.8 GW (2%). PBT: Profit before tax l ATGL: Adani Total Gas Limited l AEL: Adani Enterprises Limited l APSEZ: Adani Ports and Special Economic Zone Limited l AESL: Adani Energy Solutions Limited l APL: Adani Power Limited l AGEL: Adani Green Energy Limited l Growth represents the comparison with respective industry segment. Industry source: APSEZ (domestic cargo volume): https://shipmin.gov.in/ l Renewable (operational capacity): https://cea.nic.in/installed-capacity-report/?lang=en l AESL (ckms): https://npp.gov.in/dashBoard/trans-map-dashboard l APL (operational capacity): https://cea.nic.in/wp-content/uploads/installed/2025/03/IC_March_2025_allocation_wise.pdf | ckms: circuit kilometers |

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Adani Power Limited published this content on May 01, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 01, 2025 at 05:33 UTC.