Regardless of the sequential decrease in Current Liabilities, during the fourth quarter 2023, Quick Ratio deteriorated to 0.78 below Azure Power Global Limited's average Quick Ratio.

Within Electric Utilities industry 12 other companies have achieved higher Quick Ratio than Azure Power Global Limited in fourth quarter 2023. While Quick Ratio total ranking in the fourth quarter 2023 has deteriorated compared to the prior quarter from 2318 to 2476.

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AZRE Quick Ratio	(Mar 31 2023) Q4	0 Q3	0 Q2	0 Q1	(Mar 31 2022) Q4
Y / Y Current Liabilities Change	-9.15 %	-9.15 %	-9.15 %	-16.8 %	6.59 %
Y / Y Cash & cash equivalent Change	-16.26 %	-16.26 %	-16.26 %	-16.26 %	36.2 %
Quick Ratio MRQ	0.78	0.78	0.78	1.03	0.85
AZRE's Total Ranking	# 2476	# 2318	# 2448	# 2448	# 2941
Seq. Current Liabilities Change	0 %	0 %	31.63 %	-30.98 %	0 %
Seq. Cash & cash equivalent Change	0 %	0 %	0 %	-16.26 %	0 %

Quick Ratio fourth quarter 2023 Company Ranking
Within:	No.
Electric Utilities Industry	# 13
Utilities Sector	# 21
Overall Market	# 2476

Quick Ratio Statistics
High	Average	Low
2.36	1.21	0.66
(Mar 31 2018)		(Mar 31 2021)

Financial Statements
Azure Power Global Limited's Current Liabilities	$ 319 Millions	Visit AZRE's Balance sheet
Azure Power Global Limited's Cash & cash equivalent	$ 249 Millions	Visit AZRE's Balance sheet
Source of AZRE's Sales		Visit AZRE's Sales by Geography

Cumulative Azure Power Global Limited's Quick Ratio

AZRE's Quick Ratio for the trailling 12 Months

AZRE Quick Ratio	(Mar 31 2023) 12 Months	0 12 Months	0 12 Months	0 12 Months	(Mar 31 2022) 12 Months
Y / Y Current Liabilities TTM Growth	-10.81 %	-6.91 %	-2.89 %	1.27 %	11.26 %
Y / Y Cash & cash equivalent TTM Growth	-16.26 %	-5.95 %	5.95 %	19.82 %	36.2 %
Quick Ratio TTM	0.83	0.85	0.87	0.88	0.89
Total Ranking TTM	# 4898	# 4239	# 4533	# 4547	# 4433
Seq. Current Liabilities TTM Growth	-2.61 %	-2.54 %	-2.48 %	-3.64 %	1.64 %
Seq. Cash & cash equivalent TTM Growth	-4.63 %	-4.43 %	-4.24 %	-4.07 %	7.12 %

Quick ratio ranking by company, industry and sector >> Back to AZRE Financial Strength Comparisons >> Go to Compare AZRE Quick Ratio to its Competitors

On the trailing twelve months basis In spite of the year on year decrease in AZRE's Current Liabilities to $318.80 millions, cumulative Quick Ratio to 0.83 below the AZRE average Quick Ratio.
Quick Ratio is the average cumulative value over the last four quarters.

Among companies operating within Electric Utilities industry 68 other companies have achieved higher Quick Ratio than Azure Power Global Limited. While Quick Ratio total ranking has deteriorated compared to the previous twelve months ending in the third quarter 2023 from 4239 to 4898.

Explain Quick Ratio?
How much Cash & cash equivalents AZRE�s has?
What are AZRE�s Current Liabilities?

TTM Quick Ratio Company Ranking
Within:	No.
Within the Electric Utilities Industry	# 69
Utilities Sector	# 128
Within the Market	# 4898

trailing twelve months Quick Ratio Statistics
High	Average	Low
2.36	1.09	0.66
(Mar 31 2018)		(Mar 31 2021)

Companies with similar Quick Ratio in the quarter ending Mar 31 2023, within Electric Utilities Industry	Quick Ratio	Mar 31 2023 MRQ Cash & cash equivalent	Mar 31 2023 MRQ Current Liabilities
Eco Wave Power Global Ab Publ	2.01	$ 4.281 Millions	$ 2.130 Millions
Kenon Holdings Ltd	1.94	$ 696.838 Millions	$ 358.799 Millions
Clearway Energy Llc	1.62	$ 1,013.000 Millions	$ 626.000 Millions
Clearway Energy Inc	1.59	$ 1,013.000 Millions	$ 638.000 Millions
Ormat Technologies Inc	1.34	$ 522.322 Millions	$ 390.960 Millions
Genie Energy Ltd	1.08	$ 113.674 Millions	$ 104.796 Millions
Heliogen Inc	1.04	$ 39.215 Millions	$ 37.590 Millions
Oklo Inc	0.89	$ 2.898 Millions	$ 3.252 Millions
Azure Power Global Limited	0.78	$ 249.200 Millions	$ 318.800 Millions
Ellomay Capital Ltd	0.77	$ 75.508 Millions	$ 97.971 Millions
Altus Power Inc	0.72	$ 69.450 Millions	$ 96.281 Millions
Enlight Renewable Energy Ltd	0.69	$ 403.805 Millions	$ 583.292 Millions
Idacorp Inc	0.67	$ 357.823 Millions	$ 532.570 Millions
Via Renewables Inc	0.63	$ 54.753 Millions	$ 87.577 Millions
Energy Co Of Parana	0.61	$ 1,070.578 Millions	$ 1,768.792 Millions
Sunnova Energy International Inc	0.40	$ 210.884 Millions	$ 527.950 Millions
Otter Tail Corporation	0.40	$ 104.080 Millions	$ 262.464 Millions
Vistra Corp	0.30	$ 2,437.000 Millions	$ 8,162.000 Millions
Axia Energia S a	0.27	$ 2,530.959 Millions	$ 9,395.394 Millions
Xplr Infrastructure Lp	0.24	$ 238.000 Millions	$ 983.000 Millions
Public Service Enterprise Group Incorporated	0.22	$ 1,205.000 Millions	$ 5,448.000 Millions
Centerpoint Energy Inc	0.21	$ 662.000 Millions	$ 3,150.000 Millions
Ppl Corporation	0.19	$ 460.000 Millions	$ 2,480.000 Millions
Oge Energy Corp	0.18	$ 307.000 Millions	$ 1,665.900 Millions
Dominion Energy Inc	0.16	$ 1,945.000 Millions	$ 12,021.000 Millions
Consolidated Edison Inc	0.16	$ 771.000 Millions	$ 4,781.000 Millions

Date modified: 2026-09-08T15:11:13+00:00

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