Stockrabit · Analysts
Questions across 13 calls

Nikhil Nigania

Bernstein

Tata Power Company Limited

Tata Power Company Limited CC-May26.pdf · 2026-05-12
Hi. Thank you. I had just one question. I know the company has taken a stance to not add any new coal-based generation capacity. I wanted to check if there is any change in that view given so many states are coming up with coal-fired power plant tenders?
Got it. Understood. And if I may ask just one more question. I think an earlier question on the use of domestic, the cells you are producing. I understand the use for the rooftop solar segment. But on the utility scale side, most of your tenders are pre the 2025 dates. So, I believe they should not be needing DCR cells. So, anything I'm missing there?

Adani Green Energy Limited

Adani Green Energy Limited CC-Apr26.pdf · 2026-04-24
Good to see the numbers. My first question is on the future growth plans. You, of course, have 2 big PPAs tendering recently including the one in Maharashtra. But beyond that, we don't see Adani Green actively participate in some of the recent renewable tenders. So is the plan beyond that to focus more on the C&I/data center space via Adani Energy Solutions, as you mentioned earlier? Or are there some other plans to build the pipeline beyond that?
Perfect. That's helpful. If you could also clarify, sir, today, Adani Energy mentioned, I think, about 5 gigawatts is what they have signed up on the renewable front, which I'm supposing is with Adani Green. Possible to give some color on what are the commercial terms for that arrangement?

Adani Power Limited

Adani Power Limited CC-Feb26.pdf · 2026-01-29
My first question is on the Bangladesh Power Plant, the Godda power plant. I wanted to clarify now that coal exports are allowed from India, are we allowed to use domestic coal for this plant, a and b, there was some recent press article around the plant. So just wanted to make sure, contractually, there are no termination clauses that are there in the contract and that we are well protected?
I appreciate the detailed answer very helpful and very clear. Second question I had was on this pipeline of 15 gigawatt of ongoing thermal tenders. Could you give some more colo ur on that? I think the colour on Rajasthan helped. Out of the 15, have any of them progress to financial bid submission? Or are they still in the bid invitation stage only?
Adani Power Limited CC-Nov25.pdf · 2025-10-30
Hi. Thank you for taking my question. I just had a couple of questions. Number one, it is interesting to see so many tenders coming for thermal, even from renewable states like Gujarat, who are also doing a lot of battery tenders and battery prices are going low. So wanted management's view on what do you think is driving it? I mean, we understand the need for baseload power. But it is still surprising given states like Gujarat, as you said, have also started reaching out for thermal PPAs. So appreciate your view on that? Given how cheap batteries have become and renewable as well together with batteries. So I was finding it surprising that so many more thermal tenders are coming, even from renewable rich states like Gujarat, which you mentioned, is also looking to do a thermal PPA. So wanted your view on what is driving this strong demand for thermal contracting of late?
Got it. Understood, sir. A related question on that, most of these tenders, are you seeing a need to set up the thermal plant within the state or are they fine being it somewhere else and you get the coal resource allocated to the state?

Adani Energy Solutions Limited

Adani Energy Solutions Limited CC-Sep25.pdf · 2025-10-28
Hi, thank you for taking my question. My first question is on the distribution side. Good to hear an update on the parallel licensee bid. But now that the draft electricity regulatory changes are out, wanted to hear your thoughts on how do you see this sp ace evolve going forward in terms of new opportunity for AESL in distribution?
Got it. Understood. So, in a way, is it fair to assume it could open up opportunities for you to enter new cities without having to deploy your own capex?

Premier Energies Limited

Premier Energies Limited CC-Mar25.pdf · 2025-05-19
I just have a follow-up on the US market. While I understand the focus on the domestic market given the strong realisation and margins here itself, I just want to understand if the proposed anti-dumping duties they have on South-East Asian players goes through Vietnam, Malaysia, etc. Do you think that could open up a big front for Premier as well as a couple of your competitors have been targeting that space and any particular reason why we have not been that exposed to the US market as some of our peers have been?
My second and last question was on the new opportunities being targeted, especially BSS. It's a thought process where that what we have seen happen in solar PV industry with government restricting imports into the country. There is a similar expectation we have playing out in BSS as well. And that's a thought process to be an early mover in that space?

Waaree Energies Limited

Waaree Energies Limited CC-Dec24.pdf · 2025-01-31
Yes. Thank you for taking my question. My question is, earlier we were hearing of issues in getting equipment from China. And, you know, even visa related issues for people to come in from China into India to set up the facilities. If you could share if there has been any update or improvement on these trends.
Understood. Appreciate the answer. The second question I had is, you have a very big order book. Good to see that. But if you could give some color on the order book, is it indexed to some aspect? And how binding is it on the customer if prices move a lot from where they are today? And relatedly, if you could just give us some color on the ongoing module prices in India that you're seeing and ongoing domestic modules with domestic cell prices that you're seeing in India.

NTPC Limited

REC Limited

Indian Energy Exchange Limited