Azure Power (AZREF) - Market capitalization

Market cap: NZ$0.11 Billion

As of December 2025 Azure Power has a market cap of NZ$0.11 Billion. This makes Azure Power the world's 9642th most valuable company by market cap according to our data. The market capitalization, commonly called market cap, is the total market value of a publicly traded company's outstanding shares and is commonly used to measure how much a company is worth.

Market cap history of Azure Power from 2016 to 2025

End of year Market Cap

Year	Marketcap	Change
2025	NZ$0.11 B	388.12%
2024	NZ$22.75 M	-82.06%
2023	NZ$0.12 B	-70.88%
2022	NZ$0.43 B	-66.09%
2021	NZ$1.28 B	-52.81%
2020	NZ$2.72 B	205.89%
2019	NZ$0.88 B	61.09%
2018	NZ$0.55 B	6.31%
2017	NZ$0.51 B	-18.31%
2016	NZ$0.63 B

End of Day market cap according to different sources

On Dec 5th, 2025 the market cap of Azure Power was reported to be:

Market capitalization for similar companies or competitors

Name	Marketcap	Market cap differencediff.	Country
PNM Resources PNM	NZ$6.52 B	5,771.72%	🇺🇸 USA
Pinnacle West Capital PNW	NZ$18.26 B	16,346.47%	🇺🇸 USA

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company.
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

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Market capitalization of Azure Power (AZREF)

Market cap: NZ$0.11 Billion