Adani Green Energy Ltd

Adani Green Energy Ltd

₹ 1,356 -0.67%
08 May - close price
About

Adani Green Energy Limited, incorporated in 2015, is a holding company of several subsidiaries carrying business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities. [1]

Key Points

Part of Adani Group
The company is a part of the Adani Group, a leading Indian conglomerate with 9 publicly listed firms across sectors like energy & utility, transport & logistics, materials, metal & mining, etc. As of FY25, the promoter group owned about a 61% stake in the company. [1]

  • Market Cap 2,23,341 Cr.
  • Current Price 1,356
  • High / Low 1,378 / 765
  • Stock P/E 277
  • Book Value 90.4
  • Dividend Yield 0.00 %
  • ROCE 5.94 %
  • ROE 6.98 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 25.5% CAGR over last 5 years
  • Debtor days have improved from 69.4 to 52.8 days.

Cons

  • Stock is trading at 15.0 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Company has a low return on equity of 4.19% over last 3 years.
  • Earnings include an other income of Rs.918 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,632 691 1,917 2,089 7,304 3,343 3,887 5,922 6,461 4,789 3,947 3,355 6,249
1,531 697 1,922 2,000 7,177 3,215 3,583 5,147 6,157 4,584 3,526 3,210 6,080
Operating Profit 101 -6 -5 89 127 128 304 775 304 205 421 145 169
OPM % 6% -1% -0% 4% 2% 4% 8% 13% 5% 4% 11% 4% 3%
67 133 141 415 166 299 273 239 253 196 251 281 190
Interest 409 310 364 377 470 482 474 426 368 342 318 317 355
Depreciation 3 3 13 4 10 20 13 15 18 23 23 27 30
Profit before tax -244 -186 -241 123 -187 -75 90 573 171 36 331 82 -26
Tax % -2% 10% 7% 8% 4% 19% -10% 3% 51% 6% -44% 0% -150%
-240 -205 -259 113 -195 -89 99 557 83 34 475 82 13
EPS in Rs -1.52 -1.29 -1.64 0.71 -1.23 -0.56 0.62 3.52 0.52 0.21 2.88 0.50 0.08
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0 10 1,719 318 1,247 2,473 10,672 7,629 12,001 19,613 18,340
0 30 1,697 363 1,288 2,444 10,550 7,772 11,767 18,078 17,400
Operating Profit -0 -20 21 -45 -41 29 122 -143 234 1,535 940
OPM % -203% 1% -14% -3% 1% 1% -2% 2% 8% 5%
0 8 67 303 333 656 530 713 826 1,037 918
Interest 1 27 131 288 214 258 775 892 1,521 1,749 1,332
Depreciation 0 10 9 8 3 4 7 11 30 61 103
Profit before tax -1 -49 -52 -39 75 423 -130 -333 -491 762 423
Tax % 0% 0% -11% -11% -79% 14% -55% -2% 11% 14% -43%
-1 -49 -46 -35 134 364 -58 -328 -546 654 604
EPS in Rs -0.06 -0.39 -0.34 -0.22 0.86 2.33 -0.37 -2.07 -3.45 4.13 3.67
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 49%
3 Years: 34%
TTM: -6%
Compounded Profit Growth
10 Years: 98%
5 Years: 25%
3 Years: 72%
TTM: 9%
Stock Price CAGR
10 Years: %
5 Years: 4%
3 Years: 15%
1 Year: 54%
Return on Equity
10 Years: 2%
5 Years: 2%
3 Years: 4%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 160 1,274 1,564 1,564 1,564 1,564 1,564 1,584 1,584 1,584 1,647
Reserves -1 -50 -120 594 624 906 705 4,072 5,914 6,628 13,243
65 549 3,487 2,363 2,062 5,310 17,289 13,591 22,922 20,244 22,558
52 8 396 890 2,145 6,517 8,405 9,417 10,963 13,411 14,507
Total Liabilities 276 1,781 5,327 5,412 6,395 14,297 27,963 28,664 41,383 41,867 51,955
87 78 69 62 62 67 74 614 877 1,501 3,399
CWIP 0 1 0 1 1 1 8 385 217 669 939
Investments 165 1,354 1,530 2,030 682 2,920 17,839 20,755 22,995 23,747 28,995
24 349 3,728 3,319 5,650 11,309 10,042 6,910 17,294 15,950 18,622
Total Assets 276 1,781 5,327 5,412 6,395 14,297 27,963 28,664 41,383 41,867 51,955

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0 -24 -663 534 1,490 -718 1,455 5,003 -2,482 1 2,700
-224 -1,541 -2,242 185 -896 -2,274 -12,488 -2,491 -7,393 4,539 -7,461
225 1,571 2,937 -649 -503 2,807 11,028 -2,013 9,754 -4,303 4,266
Net Cash Flow 0 6 31 71 91 -185 -5 499 -121 237 -495
Free Cash Flow -55 -55 -679 518 1,487 -728 1,436 4,595 -2,692 -1,410 1,220
CFO/OP -77% 114% -3,078% -1,196% -3,659% -2,483% 1,195% -3,493% -1,042% 2% 286%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 189 189 361 27 377 31 53 74 82 53
Inventory Days 145 152
Days Payable 60 76
Cash Conversion Cycle 189 189 361 27 377 31 139 74 82 129
Working Capital Days 7,202 395 1,872 275 -537 -62 -127 -356 -121 -172
ROCE % -2% 2% 5% 7% 9% 4% 3% 5% 9% 6%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2030 (P)
Operational Capacity
MW AC

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Solar CUF
%
Volume of Energy Sold
Million Units (MU)
Wind CUF
%
Target Operational Capacity (BHAG)
GW

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
56.27% 56.26% 56.37% 56.37% 57.51% 60.93% 60.93% 60.93% 61.91% 62.44% 62.44% 62.44%
18.25% 18.16% 18.03% 18.15% 16.91% 15.16% 13.68% 12.45% 11.58% 11.29% 11.42% 11.10%
1.47% 1.49% 1.50% 1.55% 1.46% 1.45% 1.73% 2.40% 2.86% 2.98% 4.31% 4.56%
24.00% 24.09% 24.10% 23.93% 24.11% 22.45% 23.64% 24.22% 23.64% 23.30% 21.84% 21.92%
No. of Shareholders 6,92,3406,76,2716,93,0646,68,5867,42,5796,28,4259,00,7709,95,7009,89,8219,77,4839,35,7169,30,970

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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