Azure Power Global Ratios and Metrics

Market cap in millions USD. Fiscal year is April - March.

Millions USD. Fiscal year is Apr - Mar.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Apr '26 Apr 21, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021	2020 - 2016
Market Capitalization	80	90	83	160	1,068	1,310	Upgrade
Market Cap Growth	150.00%	7.69%	-47.79%	-85.04%	-18.48%	79.70%	Upgrade
Enterprise Value	1,428	1,529	1,582	1,704	2,612	2,580	Upgrade
PS Ratio	0.33	0.37	0.33	0.63	4.42	6.29	Upgrade
PB Ratio	0.22	0.25	0.21	0.37	2.05	3.92	Upgrade
P/FCF Ratio	1.02	1.14	2.36	6.55	-	-	Upgrade
P/OCF Ratio	0.95	1.07	2.08	1.65	17.63	19.25	Upgrade
EV/Sales Ratio	5.94	6.36	6.19	6.74	10.81	12.39	Upgrade
EV/EBITDA Ratio	9.68	10.78	10.06	9.84	13.46	17.12	Upgrade
EV/EBIT Ratio	16.39	17.55	15.70	13.82	18.00	24.25	Upgrade
EV/FCF Ratio	18.07	19.35	44.67	69.82	-	-	Upgrade
Debt / Equity Ratio	4.01	4.01	3.87	3.80	3.35	4.38	Upgrade
Debt / EBITDA Ratio	9.80	9.80	9.32	9.20	8.74	9.28	Upgrade
Debt / FCF Ratio	18.31	18.31	42.98	67.44	-	-	Upgrade
Net Debt / Equity Ratio	3.73	3.73	3.64	3.45	2.88	3.93	Upgrade
Net Debt / EBITDA Ratio	9.49	9.49	9.10	8.61	7.73	8.71	Upgrade
Net Debt / FCF Ratio	17.02	17.02	40.45	61.09	-3.14	-6.89	Upgrade
Quick Ratio	0.68	0.68	0.22	0.71	0.94	0.68	Upgrade
Current Ratio	1.46	1.46	0.50	1.06	1.15	1.10	Upgrade
Asset Turnover	0.12	0.12	0.12	0.11	0.11	0.11	Upgrade
Return on Equity (ROE)	-9.81%	-9.81%	-9.96%	-6.18%	-6.64%	-16.26%	Upgrade
Return on Assets (ROA)	2.63%	2.63%	2.83%	3.32%	4.06%	3.46%	Upgrade
Return on Capital Employed (ROCE)	4.80%	4.80%	6.70%	6.20%	6.70%	6.30%	Upgrade
Earnings Yield	-45.68%	-40.79%	-48.13%	-17.42%	-2.60%	-4.39%	Upgrade
FCF Yield	98.52%	87.96%	42.45%	15.28%	-44.77%	-14.54%	Upgrade
Buyback Yield / Dilution	-	-	-	-26.12%	-6.04%	-11.46%	Upgrade

Source: S&P Capital IQ. Utility template. Financial Sources.