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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 quarter
Period	Revenue (INR)
24 Q4	5.05B
24 Q3	5.05B
24 Q2	5.6B
24 Q1	5.6B
23 Q4	5.19B
23 Q3	5.19B
23 Q2	5.18B
22 Q4	66.92M
22 Q3	59.77M
22 Q2	59.2M

Net Income (INR)

AZREF Net Income (INR) by quarter
Period	Net Income (INR)
24 Q4	-1.16B
24 Q3	-1.16B
24 Q2	-508.5M
24 Q1	-508.5M
23 Q4	-35.5M
23 Q3	-35.5M
23 Q2	-1.11B
22 Q4	-25.11M
22 Q3	-7.91M
22 Q2	-4.22M

Operating Income (INR)

AZREF Operating Income (INR) by quarter
Period	Operating Income (INR)
24 Q4	1.61B
24 Q3	1.61B
24 Q2	2.28B
24 Q1	2.62B
23 Q4	2.6B
23 Q3	2.6B
23 Q2	2.23B
22 Q4	31.05M
22 Q3	40.03M
22 Q2	38.13M

EBITDA (INR)

AZREF EBITDA (INR) by quarter
Period	EBITDA (INR)
24 Q4	2.76B
24 Q3	2.76B
24 Q2	3.79B
24 Q1	3.79B
23 Q4	3.76B
23 Q3	3.76B
23 Q2	3.35B
22 Q4	1.71B
22 Q3	3.8B
22 Q2	3.69B

Cash Flows (INR)

AZREF Cash Flows (INR) by quarter
Period	Cash Flows (INR)
24 Q4	-49M
24 Q3	-49M
24 Q2	1.52B
24 Q1	1.52B
23 Q4	1.45B
23 Q3	1.45B
23 Q2	-450M
22 Q4	-220.48M
22 Q3	-123.66M
22 Q2	-47.56M

EPS (INR)

AZREF EPS (INR) by quarter
Period	EPS (INR)
24 Q4	-18.14
24 Q3	-18.14
24 Q2	-7.92
24 Q1	-7.92
23 Q4	-0.55
23 Q3	-0.55
23 Q2	-17.25
22 Q4	-0.49
22 Q3	-0.16
22 Q2	-0.09

Expenses (INR)

AZREF Expenses (INR) by quarter
Period	Expenses (INR)
24 Q4	1.77B
24 Q3	1.77B
24 Q2	1.61B
24 Q1	1.61B
23 Q4	1.73B
23 Q3	1.73B
23 Q2	3.64B
22 Q4	251.49M
22 Q3	145.94M
22 Q2	64.77M

Cash & Debt (INR)

AZREF Cash & Debt (INR) by quarter
Period	Cash & Debt (INR)
24 Q4	7.47B
24 Q3	7.47B
24 Q2	8.31B
24 Q1	8.31B
23 Q4	12.73B
23 Q3	12.73B
22 Q4	298.07M
22 Q3	180.09M
22 Q2	259.92M
22 Q1	232.07M

Debt ratios

AZREF Debt ratios by quarter
Period	Debt ratios
24 Q4	9.1
24 Q3	8.46
24 Q2	7.98
24 Q1	8.46
23 Q4	9.73
23 Q3	9.41
22 Q4	0.11
22 Q3	0.13
22 Q2	0.14
22 Q1	0.17

Margins

AZREF Margins by quarter
Period	Margins
24 Q4	90%
24 Q3	90%
24 Q2	91.9%
24 Q1	91.9%
23 Q4	90.64%
23 Q3	90.64%
23 Q2	91.77%
22 Q4	68.98%
22 Q3	70.47%
22 Q2	72.3%

Return on Capital

AZREF Return on Capital by quarter
Period	Return on Capital
24 Q4	-3.55%
24 Q3	-3.55%
24 Q2	-1.46%
24 Q1	-1.46%
23 Q4	-0.1%
23 Q3	-0.1%
22 Q4	-4.81%
22 Q3	-2.47%
22 Q2	-1.29%
22 Q1	2.79%

Shares Outstanding

AZREF Shares Outstanding by quarter
Period	Shares Outstanding
24 Q4	64.17M
24 Q3	64.17M
24 Q2	64.16M
24 Q1	64.16M
23 Q4	63.96M
23 Q3	63.96M
23 Q2	64.17M
22 Q4	51.19M
22 Q3	48.25M
22 Q2	49.55M

Book Value Per Share (INR)

AZREF Book Value Per Share (INR) by quarter
Period	Book Value Per Share (INR)
24 Q4	510.96
24 Q3	510.96
24 Q2	543.86
24 Q1	543.86
23 Q4	555.55
23 Q3	555.55
22 Q4	10.2
22 Q3	6.63
22 Q2	6.61
22 Q1	6.96

Total Assets (INR)

AZREF Total Assets (INR) by quarter
Period	Total Assets (INR)
24 Q4	179.94B
24 Q3	179.94B
24 Q2	188.06B
24 Q1	188.06B
23 Q4	190.54B
23 Q3	190.54B
22 Q4	2.52B
22 Q3	2.23B
22 Q2	2.16B
22 Q1	2.13B

Employee Count

AZREF Employee Count by quarter
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 quarter
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 quarter
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 quarter
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 quarter
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 quarter
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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