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RattanIndia Power

RTNPOWER NSE
₹6.53 No trade today
P/E
31.10
View as Markdown
MCP
Close 4 Nov 2026 ₹6.53 −3.97 −37.8% 1Y
Start ₹10.50

Key Fundamentals

MicrocapPowerUtilities

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
6.21%
Debt to Equity
0.80
EPS (TTM)
₹0.21
Book Value
₹8.79
Market Cap
—
P/E (TTM)
31.10
P/B
0.74
ROE
1.14%
Dividend Yield
0.00%
EBITDA
₹760 Cr
52W High
₹10.80
52W Low
₹5.88
Volume
0

Peer Comparison

Utilities › Power › Integrated Power Utilities › Power Generation

RattanIndia Power peer comparison
NTPC
₹321.9510.50₹3,09,905 Cr1.460.93%15.10%8.92%₹2,00,543 Cr₹30,459 Cr
Adani Green
₹1,388.00121.97₹2,25,153 Cr10.590.00%11.40%7.39%₹14,809 Cr₹2,249 Cr
JSW Energy
₹511.0045.99₹92,288 Cr2.550.40%7.51%8.16%₹18,965 Cr₹2,460 Cr
NHPC
₹78.4920.76₹80,260 Cr1.902.03%9.32%5.75%₹12,210 Cr₹4,267 Cr
NTPC Green Energy
₹83.51117.62₹69,433 Cr3.630.00%2.79%3.56%₹3,285 Cr₹605 Cr
NLC India
₹247.6810.70₹32,822 Cr1.601.67%11.90%8.42%₹18,381 Cr₹3,366 Cr
ACME Solar Holdings
₹421.0044.74₹29,572 Cr3.560.05%10.40%8.91%₹2,370 Cr₹602 Cr
RattanIndia Power (this company)
₹6.5331.10₹3,405 Cr0.740.00%1.14%6.21%₹2,968 Cr₹111 Cr
Median 8 companies₹284.8237.92₹74,846 Cr2.220.23%9.86%7.78%₹13,510 Cr₹2,355 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

40 Weak

Data confidence 98/100

pledge:43%

Category scores

Quality
62
Good
Returns, margins, earnings quality 22% weight
Valuation
57
Good
Cheap vs sector & own history 24% weight
Growth
24
Poor
Sales & profit trajectory 9% weight
Financial Health
27
Poor
Solvency, leverage, coverage 9% weight
Momentum
13
Poor
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Stock is trading at 0.72 times its book value

Weaknesses

5
  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Promoters have pledged 43.1% of their holding.
  • Earnings include an other income of Rs.324 Cr.
  • Company has high debtors of 336 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish946
OscillatorsBearish342
Moving AveragesStrong Bearish604

Key readings

RSI (14)
49.20
Neutral
MACD (12,26,9)
−0.17
Bullish
SMA (50)
6.90
Bearish
SMA (200)
8.38
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+1.43%
5Y+13.90%
3Y−2.54%
1Y−8.92%
TTM−6.43%

Net profit

Net profit growth by window
10YTurned to profit
5YTurned to profit
3YTurned to profit
1Y−76.58%
TTM−4.31%

Operating cash flow

Operating cash flow growth by window
10Y+42.21%
5Y−12.76%
3Y−28.44%
1Y−9.27%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−23.17 pp
5Y−27.49 pp
3Y−9.30 pp
1Y−4.27 pp
TTM−0.92 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,391 Cr
Mar 2018₹2,054 Cr
Mar 2019₹1,924 Cr
Mar 2020₹1,774 Cr
Mar 2021₹1,560 Cr
Mar 2022₹3,260 Cr
Mar 2023₹3,231 Cr
Mar 2024₹3,364 Cr
Mar 2025₹3,284 Cr
Mar 2026₹2,991 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹631 Cr
Mar 2018−₹1,663 Cr
Mar 2019−₹3,328 Cr
Mar 2020₹165 Cr
Mar 2021−₹942 Cr
Mar 2022−₹1,981 Cr
Mar 2023−₹1,870 Cr
Mar 2024₹8,897 Cr
Mar 2025₹222 Cr
Mar 2026₹52.00 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI 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 6
  • 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

121d ago

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.

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.

Quarterly Results

₹ Cr
RTNPOWER quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
847
796
806
914
932
682
733
936
822
654
728
788
799
703
Expenses
691
685
635
708
743
588
643
724
725
602
601
658
674
605
Operating Profit
157
111
172
206
189
94
90
212
97
52
127
130
125
98
OPM %
18%
14%
21%
23%
20%
14%
12%
23%
12%
8%
18%
16%
16%
14%
Other Income
89
88
82
10,717
85
89
91
92
99
90
99
67
68
85
Interest
678
726
719
239
121
124
116
118
148
112
110
91
86
83
Depreciation
102
105
106
69
59
60
61
60
61
61
61
64
61
62
PBT
−535
−632
−572
10,615
93
−1
4
126
−13
−32
54
43
46
38
Tax %
3%
0%
3%
0%
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
38
EPS (₹)
−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
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
RTNPOWER profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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 (₹)
−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

₹ Cr
RTNPOWER balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
RTNPOWER cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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/EBITDA
−698
2
170
40
152
120
109
117
137
203
70
89

Ratios

RTNPOWER financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view RattanIndia Power insights

61 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 44.06%
  • Public 41.63%
  • DIIs 6.58%
  • Others 3.91%
  • FIIs 3.82%

43.12% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Q1 FY27 concall · Jun 2026
    PPT
  • Q3 FY25 concall · Jan 2025
    PPT
  • Q4 FY24 concall · Jun 2024
    Transcript PPT

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.
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 PE ratio of RattanIndia Power Ltd?
RattanIndia Power Ltd trades at a PE ratio of 31.10 as of 4 Nov 2026, on earnings per share of ₹0.21, against a book value of ₹8.79 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 ₹5.88 and ₹10.8 as of 4 Nov 2026.
What is the Return on Equity (ROE) of RattanIndia Power Ltd?
RattanIndia Power Ltd reported a return on equity of 1.14%. 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.

Website rattanindiapower.com
CEO Mr. Rajiv Rattan
Employees 522
Listed 30 Oct 2009
Face Value ₹10

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