Companies: 10,795·Total market cap: $144.5T
Azure Power Global Limited

Azure Power Global Limited

AZREFOTCUtilities● Active
$0.97
$-0.03(-3.00%)
Market Cap$62241369
P/E Ratio—
52W High$1.5
52W Low$0.01
Cash on HandFinancialsRevenue

Azure Power Global Limited (AZREF) Cash on Hand — Cash & Short-Term Investments

Cash & cash equivalents plus short-term investments from the balance sheet, YoY change, and net cash vs debt context.

AZREF · cash on hand · updated Mar 31, 2025

Core cash position

Cash & Short-Term Investments (CCE + ST Investments)
$8.67B▲ +16.1% vs prior year
FY · as of Mar 31, 2025 · Reported in INR
Cash & Cash Equiv. (CCE)
$8.67B
cashAndCashEquivalents
Short-Term Investments
$3.0M
shortTermInvestments
YoY Change vs Prior Year
+16.1%
vs prior fiscal year
Latest Quarter
$7.47B
Q1 2024
Data Scope & Methodology

Cash on Hand = Cash & Cash Equivalents (CCE) + Short-Term Investments, as reported on the balance sheet (10-K/10-Q). Also referred to as cash reserves or cash position. Not free cash flow.

Source: FMP /balance-sheet-statement · SEC 10-K / 10-Q · Reported in INR

Source: FMP /balance-sheet-statement · SEC 10-K / 10-Q · USDUpdated: March 31, 2025

Net cash vs debt

Cash & ST Investments$8.67BCash on Hand
Total Debt$123.61BTotal Debt
Net Cash / Net Debt−$114.94BNet Debt Position
Cash vs Debt Ratio
Cash 7%Debt 93%

Azure Power Global Limited carries a net debt position of $114.94B. Total debt ($123.61B) exceeds cash on hand ($8.67B). Azure Power Global Limited cash vs debt ratio: 7% cash / 93% debt.

Net Cash = Cash & ST Investments − Total Debt$8.67B − $123.61B = −$114.94B

Cash on hand history

YoY Increase
YoY Decrease
Latest Year
AZREF annual cash on hand history · Cash & Short-Term Investments · Source: FMP /balance-sheet-statement

Annual cash on hand by year

DateCash & ST InvestmentsYoY Change
Mar 31, 2025Latest$8.67B+16.1%
Mar 31, 2024$7.47B-41.3%
Mar 31, 2023$12.73B-32.3%
Mar 31, 2022$18.80B+69.3%
Mar 31, 2021$11.11B+13.4%
AZREF cash on hand annual historical data · Cash & Short-Term Investments per balance sheet (10-K/10-Q) · Reported in USD · Source: FMP /balance-sheet-statement

Utilities Sector Cash Reserves Comparison

#CompanyCash & ST Inv.Cash/MCap
#1
GE Vernova Inc.
GE Vernova Inc.
GEV
$8.85B3.5%
#2
Azure Power Global Limited
Azure Power Global LimitedYOU
AZREF
$8.67B13934.5%
#3
NextEra Energy, Inc.
NextEra Energy, Inc.
NEE
$2.81B1.6%#4
The Southern Company
The Southern Company
SO
$1.64B1.6%#5
Duke Energy Corporation
Duke Energy Corporation
DUK
$245.0M0.3%
Utilities sector cash reserves · Source: FMP /balance-sheet-statement + /profile · Sorted by Cash desccompanies with most cash on hand →

About cash on hand & methodology

Azure Power Global Limited (AZREF) cash on hand as of March 31, 2025 is $8.67B, comprising $8.67B in cash and cash equivalents (CCE) plus $3.0M in short-term investments — reported as Azure Power Global Limited cash and short-term investments on the balance sheet (10-K filing). Also referred to as Azure Power Global Limited cash reserves or cash position.

Azure Power Global Limited annual cash on hand history shows increased +16.1% in 2025: increased +16.1% in 2025. Azure Power Global Limited cash reserves in 2025 reflect the company's capital allocation strategy.

Azure Power Global Limited carries total debt of $123.61B against cash of $8.67B, resulting in a net debt position of -$114.94B. For the full balance sheet, see the Financials → Balance Sheet tab.

Figures tie to SEC 10-K/10-Q balance sheet disclosures and FMP /balance-sheet-statement where noted.
Financial statementsFree cash flowNet incomeRevenueMarket capP/E ratioEarningsPrice history

Frequently asked questions

AZREF cash on hand · 5 questions

As of March 31, 2025, Azure Power Global Limited (AZREF) has $8.67B in cash on hand — defined as cash and short-term investments on the balance sheet. This includes $8.67B in cash and cash equivalents (CCE) plus $3,000,000 in short-term investments. Latest quarter (March 31, 2024): $7.47B. Data sourced from the annual 10-K filing via FMP.

AZREF cash on handAZREF cash reservesAZREF cash 2025how much cash does AZREF have

▸ Source: FMP /balance-sheet-statement · US GAAP · Azure Power Global Limited · Azure Power Global Limited SEC 10-K & 10-Q filings · US GAAP · Last updated: March 31, 2025