# Azure Power Global Limited (AZREF)

> Utilities · IN · Reports in INR

Fundamental indicators from Sponda, adjusted for inflation.

[HTML version](https://sponda.capital/en/AZREF/fundamentals)

## Annual figures

| Year | Revenue (M) | Net Inc. (M) | FCF (M) | Debt (M) | Equity (M) |
| --- | --- | --- | --- | --- | --- |
| 2024 | ₹ 21.97B | ₹ -3.45B | ₹ 3.04B | ₹ 126.78B | ₹ 32.22B |
| 2023 | ₹ 16.61B | ₹ -1.26B | ₹ 2.62B | ₹ 135.15B | ₹ 34.91B |
| 2022 | ₹ 275.57M | ₹ -31.21M | ₹ -540.14M | ₹ 1.75B | ₹ 513.55M |
| 2021 | ₹ 13.02B | ₹ -1.71B | ₹ -11.88B | ₹ 1.47B | ₹ 331.65M |
| 2020 | ₹ 16.16B | ₹ -2.83B | ₹ -16.41B | ₹ 93.71B | ₹ 27.02B |
| 2019 | ₹ 12.83B | ₹ 101.37M | ₹ -484.13M | ₹ 71.77B | ₹ 25.13B |
| 2018 | ₹ 10.92B | ₹ -1.17B | ₹ 2.61B | ₹ 53.94B | ₹ 12.12B |
| 2017 | ₹ 6.24B | ₹ -2.17B | ₹ -2.29B | ₹ 35.16B | ₹ 13.22B |
| 2016 | ₹ 4.07B | ₹ -1.16B | ₹ -5.08B | ₹ 24.09B | ₹ 2.30B |
| 2015 | ₹ 985.27M | ₹ -470.82M | ₹ -7.10B | ₹ 17.73B | ₹ 242.79M |

Columns not available in this view: annualPriceMultiples, dividends. They require live market data and are shown on the HTML page instead.

## Leverage and liquidity

| Indicator | Value |
| --- | --- |
| Gross Debt / Eq | 3.94 |
| Liabilities / Eq | 4.57 |
| Current Ratio | 0.50 |

## Other views

- [Metrics](https://sponda.capital/en/AZREF.md)
- [Charts](https://sponda.capital/en/AZREF/charts.md)
- [Compare](https://sponda.capital/en/AZREF/compare.md)
- [Indicator definitions](https://sponda.capital/en/screener.md)

Data as of 2026-08-29.