Vedanta Power Ltd(VEDPOWER)

NSE: VEDPOWERBSE: 544781

₹ 28.28-4.27%refreshed 23 Oct, 03:52 pm ISTMarket cap: ₹ 11,059 crNext results: 29 Oct 2026Website: www.vedantapower.comUpdated: 24 Oct 2026

About

Vedanta Power Limited is a thermal power generation company operating coal-fired plants across Punjab, Odisha, and Chhattisgarh, with a total installed base serving state discoms under long-term PPAs. In Q1 FY27, the company sold 5,224 million units of power, with revenue rising 31% year-on-year to Rs. 2,607 Cr. In H1 FY27, power sales reached 10,817 million units, up 32% year-on-year.^[1][2]

Power plants and installed capacity

Talwandi Sabo Thermal Power Plant (TSTP) in Punjab is one of the company's primary assets, operating under a long-term PPA with Punjab discom.^[1]
Meenakshi Energy Limited (MEL) operates in Andhra Pradesh/Tamil Nadu and sold 1,470 MU in Q2 FY27, up 111% year-on-year from 695 MU in Q2 FY26.^[2]
Jharsuguda Thermal Plant in Odisha sold 873 MU in Q2 FY27, up 186% year-on-year, with plant availability improving to 98% in Q2 FY27.^[2]
Sakti Thermal Power Plant in Chhattisgarh is the newest asset; Unit 1 (~600 MW) suffered a boiler incident on April 14, 2026, and sold 464 MU in Q1 FY27 vs. 1,087 MU in Q4 FY26.^[1]

Key operating metrics

Power sales volume: 5,224 MU in Q1 FY27 (+38% YoY); H1 FY27 total of 10,817 MU (+32% YoY vs. 8,217 MU in H1 FY26).^[1][2]
Power realisation: Rs. 5.0/kWh in Q1 FY27; power cost: Rs. 4.4/kWh in Q1 FY27.^[1]
Plant Availability Factor (PAF) in Q1 FY27: TSTP 86% (up from 77% QoQ), MEL 78%, Jharsuguda 94%.^[1]
Coal linkage coverage: 85% in Q1 FY27. Ash utilisation: 86% in Q1 FY27, with a FY27 target of 100%.^[1]
Biomass co-firing at TSTP: 7.92% in Q1 FY27. Specific fresh water consumption: 1.39 m³/MWh in Q1 FY27 (-17% YoY).^[1]

PPA mix and customers

74% of power sales are secured under long-term or medium-term PPAs as of Q1 FY27, with key offtakers in Punjab, Odisha, and Tamil Nadu (500 MW contract).^[1]
A new 100 MW PPA contract was recently secured with Kerala, adding to the existing long-term offtake base.^[1]

Expansion and capex

Sakti Unit 1 revival (600 MW) was 26% complete as of Q1 FY27, with planned restart targeted by Q2 FY27.^[1]
Sakti Unit 2 (~600 MW) commissioning is on track for Q4 FY27.^[1]
Remaining unspent capex of Rs. 1,745 Cr is earmarked for the Sakti expansion programme.^[1]
Long-term capacity target is ~12 GW via organic growth at Sakti over a 3 - 5 year horizon, with a vision of 11,980 MW total capacity by FY33 (not yet board-approved).^[1]
Company is evaluating acquisition of a coal block as part of a captive coal strategy, based on commercial benefit.^[1]

Recent developments

Credit ratings upgraded in Q1 FY27: CRISIL AA+ (CE)/AA- and ICRA AA-/A1+, up from A+/A1; both agencies removed the company from watch.^[1]
Company raised Rs. 300 Cr in commercial paper at 8.25% in Q1 FY27, reflecting the improved credit standing.^[1]
TSTP ash revenues more than doubled year-on-year from Rs. 3.37 Cr in Q1 FY26 to Rs. 8.74 Cr in Q1 FY27.^[1]
MEL is transitioning from imported coal to 100% domestic coal to improve margins and reduce geopolitical supply risk; no completion date stated.^[1]
Q2 FY27 power sales of 5,593 MU reported on October 3, 2026, a 26% increase year-on-year from 4,433 MU in Q2 FY26.^[2]

Market Cap

₹11,059 Cr

High / Low

₹52 / 29

Stock P/E

-6.9

Price / Book

6.1

Book Value

₹5

EPS

₹-4.4

No. of Shares

391.04 Cr

ROCE

8.2%

ROE

-88.4%

OPM

11.6%

Debt / Equity

3.01

Sales

₹5,453 Cr

Net Profit

₹-1,713 Cr

Promoter holding

56.4%

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