Azure Power Global Limited (AZREF)

Azure Power Global Balance Sheet

Financials in millions INR. Fiscal year is April - March.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Cash & Equivalents	8,670	7,469	12,724	18,796	11,107
Short-Term Investments	3	-	7	6	-
Accounts Receivable	4,636	4,623	5,713	6,041	4,887
Other Receivables	352	309	221	98	305
Inventory	8	13	13	-	-
Prepaid Expenses	111	169	255	157	150
Restricted Cash	9,192	8,271	7,764	3,784	4,881
Other Current Assets	6,282	6,697	1,154	1,797	5,036
Total Current Assets	29,254	27,551	27,851	30,679	26,366
Property, Plant & Equipment	134,770	141,073	147,985	148,797	113,061
Other Intangible Assets	10	9	1	8	29
Long-Term Investments	457	457	457	96	7
Long-Term Deferred Tax Assets	2,352	1,766	1,137	1,920	1,748
Long-Term Deferred Charges	273	289	305	322	141
Long-Term Accounts Receivable	3,555	3,942	4,185	253	223
Other Long-Term Assets	2,947	4,850	8,615	8,544	6,890
Total Assets	173,618	179,937	190,536	190,619	148,465
Accounts Payable	1,092	1,429	1,504	3,573	4,294
Accrued Expenses	455	1,235	1,267	2,149	1,759
Short-Term Debt	-	10,451	7,840	7,036	8,943
Current Portion of Long-Term Debt	10,498	35,515	9,414	9,209	4,658
Current Unearned Revenue	308	313	308	230	110
Current Portion of Leases	324	316	292	300	283
Current Income Taxes Payable	52	183	386	181	46
Other Current Liabilities	7,317	6,112	5,188	3,936	3,970
Total Current Liabilities	20,046	55,554	26,199	26,614	24,063
Long-Term Debt	109,306	77,031	114,191	112,542	89,922
Long-Term Leases	3,482	3,469	3,408	3,534	3,359
Long-Term Unearned Revenue	6,197	6,518	6,688	5,417	2,353
Pension & Post-Retirement Benefits	42	44	39	53	46
Long-Term Deferred Tax Liabilities	2,405	3,285	3,338	1,936	2,046
Other Long-Term Liabilities	1,344	1,250	1,138	947	2,224
Total Liabilities	142,822	147,151	155,001	151,043	124,013
Common Stock	3	3	3	3	2
Additional Paid-In Capital	56,724	56,741	56,743	56,726	38,004
Retained Earnings	-24,073	-20,942	-17,597	-15,312	-12,786
Comprehensive Income & Other	-2,061	-3,583	-4,239	-2,503	-972
Total Common Equity	30,593	32,219	34,910	38,914	24,248
Minority Interest	203	567	625	662	204
Shareholders' Equity	30,796	32,786	35,535	39,576	24,452
Total Liabilities & Equity	173,618	179,937	190,536	190,619	148,465
Total Debt	123,610	126,782	135,145	132,621	107,165
Net Cash (Debt)	-114,937	-119,313	-122,414	-113,819	-96,058
Net Cash Per Share	-1791.23	-1859.43	-1907.76	-2237.17	-2002.06
Filing Date Shares Outstanding	64.17	64.17	64.17	50.88	48.2
Total Common Shares Outstanding	64.17	64.17	64.17	50.88	48.2
Working Capital	9,208	-28,003	1,652	4,065	2,303
Book Value Per Share	476.78	502.12	544.05	764.87	503.11
Tangible Book Value	30,583	32,210	34,909	38,906	24,219
Tangible Book Value Per Share	476.62	501.98	544.04	764.72	502.51
Land	4,240	4,262	3,748	3,224	3,193
Machinery	150,534	149,689	150,978	135,903	101,550
Construction In Progress	723	3,146	5,723	17,316	10,610

Updated Jul 23, 2024. Source: S&P Global Market Intelligence. Utility template. Financial Sources.