Mumbai, July 7 -- Adani Power's long-term earnings potential, industry-leading execution capabilities and rapidly expanding cash flow profile position it as one of India's most compelling conventional power generation stories, according to a report by IIFL Capital.

The brokerage believes the market is underappreciating the company's ability to create value through disciplined capital allocation, counter-cyclical investments and a large expansion pipeline that is expected to more than double its operating capacity over the coming years.

Adani Power is India's largest private thermal power producer with an operational capacity of 18.2 GW and a 23.7 GW under-construction pipeline. According to IIFL, this growth pipeline, supported by compl...