RattanIndia Power
RTNPOWER NSE
RattanIndia Power
PowerNSE: RTNPOWER BSE: 533122 Integrated Power Utilities
Key Fundamentals
MicrocapIntegrated Power UtilitiesPowerMarket Cap
₹3,872 Cr
Volatility
Low Risk
P/E Ratio
34.14
EBITDA
₹760 Cr
Return on Equity
1.13%
Debt to Equity
0.8
Book Value
₹8.64
52W High
₹12.57
52W Low
₹7.2
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 0.83 times its book value
Weaknesses
4- Company has low interest coverage ratio.
- Tax rate seems low
- Earnings include an other income of Rs.324 Cr.
- Company has high debtors of 336 days.
Growth Rate
Revenue Growth
-8.09% lower than
3Y
Net Income Growth
-76.39% lower than
3Y
Cash Flow Change
-9.21% higher than
3Y
ROE
-76.65% lower than
3Y
ROCE
-21.84% higher than
3Y
EBITDA Margin (Avg.)
-12.14% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk high
RattanIndia Power Ltd trades at a market cap of Rs.4,876 Cr with a P/E of 91.5x and P/B of 1.06x. The company's TTM sales declined 9% and profits fell 76%, while its 5-year compounded profit CAGR stands at 16%. The stock has lost 38% over the past year after a 21% CAGR over 3 years.
Bull Case 7
- Stock trades at 1.06x book value, near asset replacement cost, suggesting limited downside from balance sheet perspective
- 5-year compounded profit CAGR of 16% demonstrates the company's ability to grow earnings over a longer cycle
- 5-year compounded sales CAGR of 14% indicates meaningful revenue scale-up over the medium term
- 3-year compounded profit CAGR of 27% shows strong earnings momentum in recent years prior to the TTM decline
- 3-year stock CAGR of 21% reflects market recognition of the company's turnaround trajectory over that period
- India's rising power demand driven by industrialization and electrification provides a structural tailwind for thermal power generators
- Other income of Rs.355 Cr provides an additional earnings buffer and may reflect monetization of non-core assets or regulatory receivables
Bear Case 8
- TTM profits declined 76%, signaling a sharp deterioration in earnings quality and operational performance
- P/E of 91.5x is extremely elevated for a utility company, implying the stock prices in significant future recovery that may not materialize
- Low interest coverage ratio indicates debt servicing consumes a large portion of operating profits, raising solvency concerns
- Debtor days of 336 days means receivables take nearly a full year to collect, straining cash flows and working capital
- TTM sales declined 9% year-over-year, suggesting volume or realization pressures in the core power business
- Earnings include other income of Rs.355 Cr, meaning core operating profit is substantially lower than reported net profit
- Zero dividend yield despite positive earnings suggests the company retains all cash for debt servicing or lacks distributable surplus
- Stock has declined 38% over the past 1 year, reflecting sustained negative sentiment and potential further downside risk
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago Neutral 1
- No new share encumbrance Jul 4
Jarul Infrastructure Pvt Ltd disclosed no new encumbrance on RattanIndia Power Ltd shares for FY ended March 31, 2026, indicating stable promoter holding structure.
TL;DR: Limited recent news flow for RattanIndia Power. The absence of new share encumbrance is a minor positive signal on promoter confidence, but there are no material catalysts or risks visible in the current news cycle. The outlook remains unchanged pending fresh operational or financial developments.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 847 | 796 | 806 | 914 | 932 | 682 | 733 | 936 | 822 | 654 | 728 | 788 | 799 |
| Expenses | 691 | 685 | 635 | 708 | 743 | 588 | 643 | 724 | 725 | 602 | 601 | 658 | 674 |
| Operating Profit | 157 | 111 | 172 | 206 | 189 | 94 | 90 | 212 | 97 | 52 | 127 | 130 | 125 |
| OPM % | 18% | 14% | 21% | 23% | 20% | 14% | 12% | 23% | 12% | 8% | 18% | 16% | 16% |
| Other Income | 89 | 88 | 82 | 10,717 | 85 | 89 | 91 | 92 | 99 | 90 | 99 | 67 | 68 |
| Interest | 678 | 726 | 719 | 239 | 121 | 124 | 116 | 118 | 148 | 112 | 110 | 91 | 86 |
| Depreciation | 102 | 105 | 106 | 69 | 59 | 60 | 61 | 60 | 61 | 61 | 61 | 64 | 61 |
| PBT | -535 | -632 | -572 | 10,615 | 93 | -1 | 4 | 126 | -13 | -32 | 54 | 43 | 46 |
| Tax % | 3% | 0% | 3% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -549 | -633 | -587 | 10,666 | 93 | -1 | 4 | 126 | -13 | -32 | 54 | 43 | 46 |
| EPS in Rs | -1.02 | -1.18 | -1.09 | 19.86 | 0.17 | 0 | 0.01 | 0.23 | -0.02 | -0.06 | 0.1 | 0.08 | 0.09 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 625 | 2,596 | 1,391 | 2,054 | 1,924 | 1,774 | 1,560 | 3,260 | 3,231 | 3,364 | 3,284 | 2,991 | 2,968 |
| Expenses | 600 | 1,643 | 678 | 1,499 | 1,372 | 1,266 | 920 | 2,457 | 2,493 | 2,718 | 2,699 | 2,586 | 2,534 |
| Operating Profit | 26 | 953 | 712 | 555 | 551 | 508 | 640 | 803 | 738 | 646 | 585 | 405 | 434 |
| OPM % | 4.1% | 37% | 51% | 27% | 29% | 29% | 41% | 25% | 23% | 19% | 18% | 14% | 15% |
| Other Income | 61 | 81 | 155 | 148 | -1,155 | 2,878 | 1,074 | -28 | 328 | 10,976 | 357 | 355 | 324 |
| Interest | 546 | 1,204 | 1,238 | 1,954 | 2,304 | 2,805 | 2,241 | 2,342 | 2,512 | 2,363 | 479 | 461 | 399 |
| Depreciation | 190 | 236 | 254 | 400 | 420 | 417 | 416 | 414 | 404 | 382 | 241 | 246 | 247 |
| PBT | -649 | -406 | -624 | -1,650 | -3,328 | 165 | -942 | -1,981 | -1,849 | 8,876 | 222 | 52 | 111 |
| Tax % | 2% | 6% | 1% | 1% | 0% | 0% | 0% | 0% | 1% | 0% | 0% | 0% | — |
| Net Profit | -664 | -432 | -631 | -1,663 | -3,328 | 165 | -942 | -1,981 | -1,870 | 8,897 | 222 | 52 | 111 |
| EPS in Rs | -2.25 | -1.46 | -2.13 | -5.63 | -11.24 | 0.33 | -1.75 | -3.69 | -3.48 | 16.57 | 0.41 | 0.1 | 0.21 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2,953 | 2,845 | 2,845 | 2,945 | 2,953 | 4,940 | 5,370 | 5,370 | 5,370 | 5,370 | 5,370 | 5,370 |
| Reserves | 2,144 | 1,902 | 1,223 | -447 | -3,711 | -4,510 | -5,995 | -8,032 | -9,903 | -1,006 | -785 | -732 |
| Borrowings | 12,216 | 13,552 | 14,702 | 14,633 | 13,871 | 12,510 | 12,255 | 11,547 | 11,018 | 3,562 | 3,615 | 3,711 |
| Other Liabilities | 1,372 | 2,225 | 2,420 | 4,238 | 6,328 | 6,156 | 6,985 | 8,773 | 10,887 | 1,640 | 1,596 | 1,265 |
| Total Liabilities | 18,684 | 20,525 | 21,191 | 21,370 | 19,441 | 19,095 | 18,615 | 17,658 | 17,372 | 9,566 | 9,796 | 9,613 |
| Fixed Assets | 8,795 | 9,268 | 10,793 | 15,011 | 14,592 | 14,410 | 13,995 | 13,381 | 13,051 | 6,412 | 6,253 | 6,103 |
| CWIP | 6,674 | 6,659 | 6,339 | 2,283 | 2,354 | 1,584 | 1,574 | 1,142 | 1,110 | 67 | 65 | 21 |
| Investments | 20 | 0 | 70 | 10 | 193 | 275 | 0 | 4 | 8 | 0 | 0 | 0 |
| Other Assets | 3,195 | 4,598 | 3,988 | 4,066 | 2,301 | 2,826 | 3,046 | 3,131 | 3,203 | 3,087 | 3,478 | 3,489 |
| Total Assets | 18,684 | 20,525 | 21,191 | 21,370 | 19,441 | 19,095 | 18,615 | 17,658 | 17,372 | 9,566 | 9,796 | 9,613 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -185 | 11 | 1,206 | 215 | 836 | 610 | 736 | 934 | 1,015 | 1,306 | 410 | 372 |
| Investing | -237 | -108 | -493 | -107 | -161 | -91 | 101 | 59 | -5 | -462 | 87 | 66 |
| Financing | 372 | 169 | -722 | -235 | -801 | -476 | -795 | -956 | -977 | -902 | -440 | -605 |
| Net Cash Flow | -49 | 71 | -9 | -127 | -127 | 44 | 42 | 37 | 33 | -58 | 57 | -168 |
| Free Cash Flow | -962 | -160 | 784 | -51 | 815 | 595 | 733 | 923 | 985 | 1,207 | 293 | 294 |
| CFO/OP | -698 | 2 | 170 | 40 | 152 | 120 | 109 | 117 | 137 | 203 | 70 | 89 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 120 | 120 | 208 | 236 | 237 | 316 | 457 | 281 | 282 | 224 | 271 | 336 |
| Cash Conversion Cycle | 120 | 120 | 208 | 236 | 237 | 316 | 457 | 281 | 282 | 224 | 271 | 336 |
| Working Capital Days | -796 | -83 | -580 | -741 | -1,318 | -973 | -1,457 | -1,048 | -1,757 | 124 | 198 | 212 |
| ROCE % | -1% | 4% | 3% | 2% | 2% | 2% | 11% | 8% | 9% | 8% | 9% | 6% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view RattanIndia Power insights
60 extracted metrics + investor summaries across FY11–FY26.
Documents
1
Board Meeting Outcome for Audited Financial Results For The Quarter And Financial Year Ended On March 31, 2026
7 May - RattanIndia Power approved FY26 audited standalone/consolidated results; consolidated profit Rs 52.44 crore, auditors issued unmodified report. 7 May - RattanIndia Power approved FY26 audited standalone/consolidated results; consolidated profit Rs 52.44 crore, auditors issued unmodified report.
2
Audited Financial Results For The Quarter And Year Ended On March 31, 2026
7 May - Audited FY26 standalone and consolidated results approved on May 7; profit 52.44 crore consolidated, no modified opinion. 7 May - Audited FY26 standalone and consolidated results approved on May 7; profit 52.44 crore consolidated, no modified opinion.
3
Earnings Update Of Rattanindia Power Limited For The Financial Year Ended March 31, 2026.
7 May - RattanIndia Power reported FY26 audited standalone results; revenue Rs2,991.36 crore, profit Rs46.59 crore. 7 May - RattanIndia Power reported FY26 audited standalone results; revenue Rs2,991.36 crore, profit Rs46.59 crore.
4
Board Meeting Intimation for Consideration And Approval Of The Audited Financial Results (Standalone And Consolidated) Of The Company, For Quarter And Year Ended March 31, 2026.
4 May - Board meets May 7, 2026 to approve audited Q4 and FY26 standalone and consolidated results. 4 May - Board meets May 7, 2026 to approve audited Q4 and FY26 standalone and consolidated results.
5
Submission Of The Disclosures Received From The Trusts As Per SEBI Exemption Order Dated September 12, 2025
4 May - RattanIndia Power received FY26 compliance certificates from four trusts under SEBI exemption order. 4 May - RattanIndia Power received FY26 compliance certificates from four trusts under SEBI exemption order.
Frequently Asked Questions about RattanIndia Power
What does RattanIndia Power Ltd do?
RattanIndia Power Limited is one of India’s largest private power generation company, with installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India. [1]
Where is RattanIndia Power Ltd (RTNPOWER) listed?
RattanIndia Power Ltd trades as RTNPOWER on the NSE and under code 533122 on the BSE.
Which sector does RattanIndia Power Ltd belong to?
RattanIndia Power Ltd is classified under the Power sector, in the Integrated Power Utilities industry.
What is the market capitalisation of RattanIndia Power Ltd?
RattanIndia Power Ltd has a market capitalisation of ₹3,872 Cr, which places it in the Small Cap band.
What is the PE ratio of RattanIndia Power Ltd?
RattanIndia Power Ltd trades at a PE ratio of 34.14, against a book value of ₹8.64 per share.
What is the 52-week high and low of RattanIndia Power Ltd?
Over the last 52 weeks RattanIndia Power Ltd has traded between ₹7.2 and ₹12.57.
What is the Return on Equity (ROE) of RattanIndia Power Ltd?
RattanIndia Power Ltd reported a return on equity of 1.13%. Its debt-to-equity ratio is 0.80.
Company Information
RattanIndia Power Limited is one of India’s largest private power generation company, with installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India. [1]
Website rattanindiapower.com
CEO Mr. Rajiv Rattan
Employees 522
Listed 2009-10-30
Face Value ₹ 10
Issued Size 5,37,01,05,860
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