Azure Power (AZREF) - Market capitalization

Market cap: €54.78 Million

As of December 2025 Azure Power has a market cap of €54.78 Million. This makes Azure Power the world's 9625th 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	€54.78 M	344.24%
2024	€12.33 M	-83%
2023	€72.55 M	-71.86%
2022	€0.25 B	-66.72%
2021	€0.77 B	-51.49%
2020	€1.59 B	198.48%
2019	€0.53 B	65.17%
2018	€0.32 B	5.32%
2017	€0.30 B	-26.58%
2016	€0.41 B

End of Day market cap according to different sources

On Dec 16th, 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	€3.21 B	5,771.72%	🇺🇸 USA
Pinnacle West Capital PNW	€8.97 B	16,281.19%	🇺🇸 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: €54.78 Million