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RPOWER - Fundamental Analysis: Financial Health & Valuation

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Rating: 1.7

Last Updated Time : 02 Feb 26, 01:19 pm

Fundamental Rating: 1.7

Stock Code RPOWER Market Cap 11,270 Cr. Current Price 27.3 ₹ High / Low 76.5 ₹
Book Value 23.6 ₹ Dividend Yield 0.00 % ROCE -0.18 % ROE -0.99 %
Face Value 10.0 ₹ DMA 50 34.5 ₹ DMA 200 41.5 ₹ Chg in FII Hold 0.16 %
Chg in DII Hold -0.70 % PAT Qtr -0.67 Cr. PAT Prev Qtr 4.73 Cr. RSI 31.1
MACD -2.21 Volume 2,39,08,073 Avg Vol 1Wk 5,54,36,546 Low price 26.8 ₹
High price 76.5 ₹ Debt to equity 0.62 52w Index 0.87 % Qtr Profit Var -309 %
EPS -0.24 ₹ Industry PE 25.6

📊 Core Financials

  • Revenue & Profitability: Quarterly PAT at -₹0.67 Cr, down from ₹4.73 Cr, showing continued losses. EPS at -₹0.24 reflects negative earnings.
  • Margins: ROE at -0.99% and ROCE at -0.18% highlight poor efficiency and negative returns.
  • Debt Ratios: Debt-to-equity at 0.62 indicates moderate leverage, but losses make debt sustainability a concern.
  • Cash Flows: Weak profitability suggests stressed cash flows despite moderate debt levels.

💹 Valuation Indicators

  • P/E Ratio: Not meaningful due to negative earnings.
  • P/B Ratio: Current price ₹27.3 vs. book value ₹23.6 → ~1.16x, fairly aligned with assets.
  • PEG Ratio: Not applicable due to negative earnings growth.
  • Intrinsic Value: Persistent losses erode intrinsic worth, limiting valuation appeal.

🏢 Business Model & Competitive Advantage

  • Reliance Power operates in power generation across thermal, hydro, and renewable projects.
  • Competitive advantage lies in asset base and diversified energy portfolio.
  • However, weak profitability, high project risks, and declining investor confidence undermine overall health.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Risky accumulation only near ₹26 – ₹28, close to current lows.
  • Long-Term Holding: High-risk investment; suitable only for speculative investors betting on turnaround. Conservative investors should avoid until profitability stabilizes.

✅ Positive

  • Debt-to-equity ratio of 0.62 is moderate compared to peers.
  • Stock trading near book value (~1.16x).
  • FII holding increased (+0.16%), showing marginal foreign investor interest.

⚠️ Limitation

  • Negative ROE (-0.99%) and ROCE (-0.18%).
  • Persistent losses with EPS at -₹0.24.
  • No dividend yield, reducing investor appeal.

📉 Company Negative News

  • Quarterly PAT declined to -₹0.67 Cr from ₹4.73 Cr.
  • DII holding decreased (-0.70%), showing reduced domestic institutional confidence.
  • Profit variation of -309% highlights severe instability.

📈 Company Positive News

  • FII holding increased (+0.16%).
  • Stock trading close to 52-week low may attract speculative interest.

🏭 Industry

  • Power sector trades at industry PE of 25.6, but RPOWER’s losses make P/E irrelevant.
  • Sector growth supported by renewable energy expansion, though company-specific risks dominate.

🔎 Conclusion

  • Reliance Power is asset-backed but financially weak, with persistent losses and negative return metrics.
  • Valuation appears cheap relative to book value, but profitability concerns make it a speculative bet.
  • Best avoided by conservative investors; speculative entry possible near ₹26 – ₹28 if turnaround prospects improve.

I can also prepare a comparative HTML snapshot of RPOWER versus NTPC to highlight how a profitable power generator differs in valuation and financial health.

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