IIFL initiates coverage on Adani Power with target price at Rs 240, estimates EBITDA to quadruple by FY33-35E

July 7, 2026

IIFL initiated coverage on Adani Power with a ‘Buy’ rating and Rs 240 target price. The brokerage forecasts EBITDA to quadruple by FY33-35E due to growth pipeline. Adani Power is building significant new coal capacity, expanding its operational base. Free cash flow from operations is expected to rise substantially after portfolio buildout. The company also plans future ventures into nuclear and hydro power generation.

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