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Azure Power Global Limited

$0.6 -$0.40 (-40.00%)

OTC · 15 Sep 2026 16:40 UTC

Previous Close

$0.6

Day Range

$0.6 - $0.6

Year Range

$0.01$1.5

Market Cap

38.5M

AVG Volume

3.55K

Trailing/Forward PE

-1.18/-

PEG ratio

0.01

Dividend Yield

Next Earnings Date

2026-12-14

Primary Exchange

Other OTC

Revenue (INR)

AZREF Revenue (INR) by year
Period	Revenue (INR)
2024	21.31B
2022	246.09M
2021	11.02B
2020	12.96B
2019	9.93B
2018	7.7B
2017	4.18B
2016	2.63B

Net Income (INR)

AZREF Net Income (INR) by year
Period	Net Income (INR)
2024	-3.35B
2022	-27.87M
2021	-1.45B
2020	-2.27B
2019	78.4M
2018	-827.08M
2017	-1.45B
2016	-748.9M

Operating Income (INR)

AZREF Operating Income (INR) by year
Period	Operating Income (INR)
2024	8.11B
2022	147.83M
2021	4.9B
2020	6.53B
2019	5.61B
2018	3.94B
2017	1.96B
2016	1.07B

EBITDA (INR)

AZREF EBITDA (INR) by year
Period	EBITDA (INR)
2024	13.11B
2022	12.81B
2021	7.71B
2020	8.89B
2019	8.36B
2018	5.75B
2017	3.17B
2016	1.81B

Cash Flows (INR)

AZREF Cash Flows (INR) by year
Period	Cash Flows (INR)
2024	2.95B
2022	-482.36M
2021	-10.05B
2020	-13.16B
2019	-374.42M
2018	1.84B
2017	-1.53B
2016	-3.27B

EPS (INR)

AZREF EPS (INR) by year
Period	EPS (INR)
2024	-52.12
2022	-0.55
2021	-30.15
2020	-53.06
2019	-2.06
2018	-31.95
2017	-61.04
2016	-55.62

Expenses (INR)

AZREF Expenses (INR) by year
Period	Expenses (INR)
2024	6.77B
2022	571.12M
2021	15.86B
2020	19.27B
2019	3.8B
2018	1.19B
2017	2.3B
2016	4.68B

Cash & Debt (INR)

AZREF Cash & Debt (INR) by year
Period	Cash & Debt (INR)
2024	7.47B
2022	298.07M
2021	218.67M
2020	9.79B
2019	10.54B
2018	9.73B
2017	8.76B
2016	3.09B

Debt ratios

AZREF Debt ratios by year
Period	Debt ratios
2024	2.81
2022	0.04
2021	0.04
2020	3.21
2019	3.21

Margins

AZREF Margins by year
Period	Margins
2024	91%
2022	71.31%
2021	91.88%
2020	91.16%
2019	91.25%
2018	91.01%
2017	91.02%
2016	92.74%

Return on Capital

AZREF Return on Capital by year
Period	Return on Capital
2024	-10.2%
2022	-5.34%
2021	-433.37%
2020	-8.34%
2019	0.31%
2018	-6.23%
2017	-10%
2016	-32.62%

Shares Outstanding

AZREF Shares Outstanding by year
Period	Shares Outstanding
2024	64.17M
2022	51.19M
2021	48.19M
2020	47.64M
2019	40.97M
2018	25.98M
2017	25.92M
2016	20.26M

Book Value Per Share (INR)

AZREF Book Value Per Share (INR) by year
Period	Book Value Per Share (INR)
2024	510.96
2022	10.2
2021	6.94
2020	571.3
2019	619.86
2018	511
2017	560.54
2016	113.29

Total Assets (INR)

AZREF Total Assets (INR) by year
Period	Total Assets (INR)
2024	179.94B
2022	2.52B
2021	2.03B
2020	132.4B
2019	108.86B
2018	73.98B
2017	57.49B
2016	30.89B

Employee Count

AZREF Employee Count by year
Period	Employee Count
2023	427
2022	427
2021	471
2020	605
2019	654
2018	539
2017	401

Free Cash Flow Yield

AZREF Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	80.2%
Sep 26	43.75%
Sep 26	48.66%
Aug 26	48.21%
Aug 26	48.05%
Aug 26	48.18%
Aug 26	48.29%
Jul 26	48.2%
Jul 26	47.62%
Jul 26	47.76%
Jul 26	48.21%
Jul 26	48.2%
Jun 26	48.75%
Jun 26	48.74%
Jun 26	48.34%
Jun 26	48.43%
May 26	48.4%
May 26	48.05%
May 26	47.91%
May 26	48.67%
May 26	48.46%
Apr 26	39.04%
Apr 26	49.66%
Apr 26	49.41%
Apr 26	49.44%
Mar 26	48.52%
Mar 26	49.09%
Mar 26	49.71%
Mar 26	49.53%
Feb 26	36.34%
Feb 26	50.7%
Feb 26	50.8%
Feb 26	50.77%
Jan 26	50.17%
Jan 26	50.17%
Jan 26	50.71%
Jan 26	50.96%
Jan 26	51.1%
Dec 25	51.23%
Dec 25	171.13%
Dec 25	203.1%
Dec 25	51.14%
Nov 25	36.76%
Nov 25	51.32%
Nov 25	51.87%
Nov 25	51.87%
Oct 25	51.82%
Oct 25	52.37%
Oct 25	52.27%
Oct 25	51.81%
Oct 25	51.83%
Sep 25	51.87%
Sep 25	348%
Sep 25	52.09%
Sep 25	43.47%
Aug 25	237.14%
Aug 25	263.3%
Aug 25	350.33%
Aug 25	350.52%
Aug 25	70.29%
Jul 25	132.94%
Jul 25	106.76%
Jul 25	107.2%
Jul 25	107.68%
Jun 25	107.63%
Jun 25	106.23%
Jun 25	106.81%
Jun 25	107.25%
May 25	107.57%
May 25	107.98%
May 25	71.65%
May 25	59.7%
May 25	108.64%
Apr 25	107.6%
Apr 25	59.78%
Apr 25	59.37%
Apr 25	44.74%
Mar 25	59.61%
Mar 25	42.68%
Mar 25	58.66%
Mar 25	58.54%
Feb 25	52.49%
Feb 25	37.89%
Feb 25	52.95%
Feb 25	69.76%
Jan 25	105.96%
Jan 25	71.03%
Jan 25	68.48%
Jan 25	213.02%
Jan 25	356.86%
Dec 24	143.32%
Dec 24	72.09%
Dec 24	108.33%
Dec 24	108.57%
Nov 24	155.33%
Nov 24	72.6%
Nov 24	72.63%
Nov 24	72.65%
Nov 24	69.23%
Oct 24	84.11%

Price to Sales

AZREF Price to Sales by year
Period	Price to Sales
Sep 26	0.17
Sep 26	0.32
Sep 26	0.28
Aug 26	0.29
Aug 26	0.29
Aug 26	0.29
Aug 26	0.29
Jul 26	0.29
Jul 26	0.29
Jul 26	0.29
Jul 26	0.29
Jul 26	0.29
Jun 26	0.28
Jun 26	0.28
Jun 26	0.29
Jun 26	0.29
May 26	0.29
May 26	0.29
May 26	0.29
May 26	0.28
May 26	0.29
Apr 26	0.35
Apr 26	0.28
Apr 26	0.28
Apr 26	0.28
Mar 26	0.29
Mar 26	0.28
Mar 26	0.28
Mar 26	0.28
Feb 26	0.38
Feb 26	0.27
Feb 26	0.27
Feb 26	0.27
Jan 26	0.28
Jan 26	0.28
Jan 26	0.27
Jan 26	0.27
Jan 26	0.27
Dec 25	0.27
Dec 25	0.08
Dec 25	0.07
Dec 25	0.27
Nov 25	0.38
Nov 25	0.27
Nov 25	0.27
Nov 25	0.27
Oct 25	0.27
Oct 25	0.26
Oct 25	0.26
Oct 25	0.27
Oct 25	0.27
Sep 25	0.27
Sep 25	0.04
Sep 25	0.27
Sep 25	0.32
Aug 25	0.06
Aug 25	0.05
Aug 25	0.04
Aug 25	0.04
Aug 25	0.2
Jul 25	0.1
Jul 25	0.13
Jul 25	0.13
Jul 25	0.13
Jun 25	0.13
Jun 25	0.13
Jun 25	0.13
Jun 25	0.13
May 25	0.13
May 25	0.13
May 25	0.19
May 25	0.23
May 25	0.13
Apr 25	0.13
Apr 25	0.23
Apr 25	0.23
Apr 25	0.31
Mar 25	0.23
Mar 25	0.32
Mar 25	0.24
Mar 25	0.24
Feb 25	0.26
Feb 25	0.37
Feb 25	0.26
Feb 25	0.2
Jan 25	0.13
Jan 25	0.19
Jan 25	0.2
Jan 25	0.06
Jan 25	0.04
Dec 24	0.1
Dec 24	0.19
Dec 24	0.13
Dec 24	0.13
Nov 24	0.09
Nov 24	0.19
Nov 24	0.19
Nov 24	0.19
Nov 24	0.2
Oct 24	0.16

EV/EBITDA

AZREF EV/EBITDA by year
Period	EV/EBITDA
Sep 26	9.38
Sep 26	9.62
Sep 26	9.57
Aug 26	9.57
Aug 26	9.57
Aug 26	9.57
Aug 26	9.57
Jul 26	9.57
Jul 26	9.58
Jul 26	9.58
Jul 26	9.57
Jul 26	9.57
Jun 26	9.57
Jun 26	9.57
Jun 26	9.57
Jun 26	9.57
May 26	9.57
May 26	9.57
May 26	9.57
May 26	9.57
May 26	9.57
Apr 26	9.68
Apr 26	9.56
Apr 26	9.56
Apr 26	9.56
Mar 26	9.57
Mar 26	9.56
Mar 26	9.56
Mar 26	9.56
Feb 26	9.72
Feb 26	9.55
Feb 26	9.55
Feb 26	9.55
Jan 26	9.55
Jan 26	9.55
Jan 26	9.55
Jan 26	9.55
Jan 26	9.54
Dec 25	9.54
Dec 25	9.24
Dec 25	9.21
Dec 25	9.54
Nov 25	9.72
Nov 25	9.54
Nov 25	9.54
Nov 25	9.54
Oct 25	9.54
Oct 25	9.53
Oct 25	9.53
Oct 25	9.54
Oct 25	9.54
Sep 25	9.54
Sep 25	9.17
Sep 25	9.54
Sep 25	9.62
Aug 25	9.2
Aug 25	9.19
Aug 25	9.17
Aug 25	9.17
Aug 25	9.42
Jul 25	9.27
Jul 25	9.31
Jul 25	9.31
Jul 25	9.31
Jun 25	9.31
Jun 25	9.32
Jun 25	9.31
Jun 25	9.31
May 25	9.31
May 25	9.31
May 25	9.42
May 25	9.48
May 25	9.31
Apr 25	9.31
Apr 25	9.48
Apr 25	9.48
Apr 25	9.61
Mar 25	9.48
Mar 25	9.63
Mar 25	9.49
Mar 25	9.49
Feb 25	9.53
Feb 25	9.7
Feb 25	9.53
Feb 25	9.43
Jan 25	9.32
Jan 25	9.42
Jan 25	9.43
Jan 25	9.21
Jan 25	9.17
Dec 24	9.26
Dec 24	9.42
Dec 24	9.31
Dec 24	9.31
Nov 24	9.25
Nov 24	9.41
Nov 24	9.41
Nov 24	9.41
Nov 24	9.43
Oct 24	9.37

Price/Operating Cashflow

AZREF Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	1.1
Sep 26	2.02
Sep 26	1.81
Aug 26	1.83
Aug 26	1.84
Aug 26	1.83
Aug 26	1.83
Jul 26	1.83
Jul 26	1.85
Jul 26	1.85
Jul 26	1.83
Jul 26	1.83
Jun 26	1.81
Jun 26	1.81
Jun 26	1.82
Jun 26	1.82
May 26	1.82
May 26	1.84
May 26	1.84
May 26	1.81
May 26	1.82
Apr 26	2.26
Apr 26	1.78
Apr 26	1.79
Apr 26	1.78
Mar 26	1.82
Mar 26	1.8
Mar 26	1.77
Mar 26	1.78
Feb 26	2.43
Feb 26	1.74
Feb 26	1.74
Feb 26	1.74
Jan 26	1.76
Jan 26	1.76
Jan 26	1.74
Jan 26	1.73
Jan 26	1.73
Dec 25	1.72
Dec 25	0.52
Dec 25	0.43
Dec 25	1.72
Nov 25	2.4
Nov 25	1.72
Nov 25	1.7
Nov 25	1.7
Oct 25	1.7
Oct 25	1.68
Oct 25	1.69
Oct 25	1.7
Oct 25	1.7
Sep 25	1.7
Sep 25	0.25
Sep 25	1.69
Sep 25	2.03
Aug 25	0.37
Aug 25	0.34
Aug 25	0.25
Aug 25	0.25
Aug 25	1.26
Jul 25	0.66
Jul 25	0.83
Jul 25	0.82
Jul 25	0.82
Jun 25	0.82
Jun 25	0.83
Jun 25	0.83
Jun 25	0.82
May 25	0.82
May 25	0.82
May 25	1.23
May 25	1.48
May 25	0.81
Apr 25	0.82
Apr 25	1.48
Apr 25	1.49
Apr 25	1.97
Mar 25	1.48
Mar 25	2.07
Mar 25	1.5
Mar 25	1.51
Feb 25	1.68
Feb 25	2.33
Feb 25	1.67
Feb 25	1.26
Jan 25	0.83
Jan 25	1.24
Jan 25	1.29
Jan 25	0.41
Jan 25	0.25
Dec 24	0.62
Dec 24	1.22
Dec 24	0.81
Dec 24	0.81
Nov 24	0.57
Nov 24	1.22
Nov 24	1.21
Nov 24	1.21
Nov 24	1.27
Oct 24	1.05

Price to Book

AZREF Price to Book by year
Period	Price to Book
Sep 26	0.11
Sep 26	0.21
Sep 26	0.18
Aug 26	0.19
Aug 26	0.19
Aug 26	0.19
Aug 26	0.19
Jul 26	0.19
Jul 26	0.19
Jul 26	0.19
Jul 26	0.19
Jul 26	0.19
Jun 26	0.18
Jun 26	0.18
Jun 26	0.19
Jun 26	0.19
May 26	0.19
May 26	0.19
May 26	0.19
May 26	0.18
May 26	0.19
Apr 26	0.23
Apr 26	0.18
Apr 26	0.18
Apr 26	0.18
Mar 26	0.19
Mar 26	0.18
Mar 26	0.18
Mar 26	0.18
Feb 26	0.25
Feb 26	0.18
Feb 26	0.18
Feb 26	0.18
Jan 26	0.18
Jan 26	0.18
Jan 26	0.18
Jan 26	0.18
Jan 26	0.18
Dec 25	0.18
Dec 25	0.05
Dec 25	0.04
Dec 25	0.18
Nov 25	0.24
Nov 25	0.18
Nov 25	0.17
Nov 25	0.17
Oct 25	0.17
Oct 25	0.17
Oct 25	0.17
Oct 25	0.17
Oct 25	0.17
Sep 25	0.17
Sep 25	0.03
Sep 25	0.17
Sep 25	0.21
Aug 25	0.04
Aug 25	0.03
Aug 25	0.03
Aug 25	0.03
Aug 25	0.13
Jul 25	0.07
Jul 25	0.08
Jul 25	0.08
Jul 25	0.08
Jun 25	0.08
Jun 25	0.08
Jun 25	0.08
Jun 25	0.08
May 25	0.08
May 25	0.08
May 25	0.13
May 25	0.15
May 25	0.08
Apr 25	0.08
Apr 25	0.15
Apr 25	0.15
Apr 25	0.2
Mar 25	0.15
Mar 25	0.21
Mar 25	0.15
Mar 25	0.15
Feb 25	0.17
Feb 25	0.24
Feb 25	0.17
Feb 25	0.13
Jan 25	0.08
Jan 25	0.13
Jan 25	0.13
Jan 25	0.04
Jan 25	0.03
Dec 24	0.06
Dec 24	0.12
Dec 24	0.08
Dec 24	0.08
Nov 24	0.06
Nov 24	0.12
Nov 24	0.12
Nov 24	0.12
Nov 24	0.13
Oct 24	0.11

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Azure Power Global Limited

Video analysis: AZREF

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