Adani Green Energy Ltd

Adani Green Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Adani Green Energy Ltd

₹ 1,023 -1.64%
02 Dec - close price
adanigreenenergy.com BSE: 541450 NSE: ADANIGREEN
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]

Website BSE NSE
  • Market Cap ₹ 1,68,440 Cr.
  • Current Price ₹ 1,023
  • High / Low ₹ 1,330 / 758
  • Stock P/E 76.9
  • Book Value ₹ 119
  • Dividend Yield 0.00 %
  • ROCE 8.70 %
  • ROE 14.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 127% CAGR over last 5 years
  • Debtor days have improved from 68.9 to 50.1 days.

Cons

  • Stock is trading at 8.63 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 might be capitalizing the interest cost

* 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.

Peer comparison

Utilities Power Power Power Generation

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty Next 50

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
1,584 1,971 2,598 2,162 2,220 2,311 2,527 2,794 3,005 2,340 3,073 3,800 3,008
718 1,118 334 81 521 645 693 415 788 460 680 758 405
Operating Profit 866 853 2,264 2,081 1,699 1,666 1,834 2,379 2,217 1,880 2,393 3,042 2,603
OPM % 55% 43% 87% 96% 77% 72% 73% 85% 74% 80% 78% 80% 87%
100 216 265 178 353 264 234 271 294 280 48 189 158
Interest 498 617 1,338 1,393 1,165 1,242 1,224 1,426 1,448 1,251 1,368 1,525 1,635
Depreciation 298 330 392 451 474 481 497 596 621 618 663 767 834
Profit before tax 170 122 799 415 413 207 347 628 442 291 410 939 292
Tax % 14% 52% 38% 34% 29% 33% 24% 28% 6% -37% 29% 25% -81%
149 103 507 323 371 256 310 629 515 474 383 824 644
EPS in Rs 0.94 0.65 3.21 2.03 2.35 1.62 0.95 2.82 1.74 3.11 1.45 4.39 3.54
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 15m Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
28 502 1,480 2,058 2,549 3,124 5,133 7,792 9,220 11,212 12,221
14 98 637 532 1,098 883 1,621 2,822 1,881 2,323 2,303
Operating Profit 13 403 843 1,526 1,450 2,241 3,512 4,970 7,339 8,889 9,918
OPM % 48% 80% 57% 74% 57% 72% 68% 64% 80% 79% 81%
7 80 42 73 -111 385 507 667 1,323 1,316 675
Interest 23 334 552 1,121 995 1,953 2,617 2,911 5,088 5,492 5,779
Depreciation 6 333 543 1,062 394 486 849 1,300 1,903 2,498 2,882
Profit before tax -9 -184 -210 -585 -50 187 553 1,426 1,671 2,215 1,932
Tax % 3% -75% -35% -19% 23% 6% 12% 32% 25% 10%
-9 -47 -138 -475 -68 182 489 973 1,260 2,001 2,325
EPS in Rs -0.58 -0.37 -1.00 -3.03 -0.15 1.34 3.13 6.15 6.94 9.12 12.49
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 34%
3 Years: 30%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: 127%
3 Years: 56%
TTM: 70%
Stock Price CAGR
10 Years: %
5 Years: -2%
3 Years: -21%
1 Year: -22%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 16%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 160 1,274 1,564 1,564 1,564 1,564 1,564 1,584 1,584 1,584 1,647
Reserves -9 -71 -223 369 793 636 1,050 5,720 9,058 10,553 17,877
4,132 4,347 9,864 11,142 14,866 24,209 52,832 54,223 64,858 80,040 88,153
1,286 610 4,503 1,582 1,201 2,283 3,508 5,382 12,586 18,587 18,200
Total Liabilities 5,569 6,160 15,709 14,658 18,424 28,692 58,954 66,909 88,086 110,764 125,877
2,781 4,341 9,120 10,388 12,554 16,429 28,452 48,336 62,284 79,914 88,401
CWIP 1,962 267 1,725 743 1,208 4,452 19,899 5,291 6,427 14,480 16,691
Investments 7 26 87 77 476 502 574 1,149 1,515 2,743 3,047
819 1,525 4,777 3,449 4,186 7,309 10,029 12,133 17,860 13,627 17,738
Total Assets 5,569 6,160 15,709 14,658 18,424 28,692 58,954 66,909 88,086 110,764 125,877

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
28 649 1,625 1,965 1,601 3,127 7,265 7,713 8,364
-1,511 -4,428 -2,666 -3,743 -9,137 -18,730 -3,857 -21,060 -19,828
1,559 3,942 1,045 2,161 7,083 15,986 -2,973 13,953 12,068
Net Cash Flow 76 162 3 383 -453 383 435 606 604

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 850 245 209 134 106 141 129 103 53 50
Inventory Days 383
Days Payable 455
Cash Conversion Cycle 850 245 209 63 106 141 129 103 53 50
Working Capital Days -12,275 -218 -678 -182 -193 -407 -576 -175 -905 -436
ROCE % 2% 4% 4% 8% 10% 8% 8% 10% 9%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
60.75% 57.26% 56.27% 56.26% 56.37% 56.37% 57.51% 60.93% 60.93% 60.93% 61.91% 62.44%
15.14% 17.13% 18.25% 18.16% 18.03% 18.15% 16.91% 15.16% 13.68% 12.45% 11.58% 11.29%
1.40% 1.45% 1.47% 1.49% 1.50% 1.55% 1.46% 1.45% 1.73% 2.40% 2.86% 2.98%
22.70% 24.16% 24.00% 24.09% 24.10% 23.93% 24.11% 22.45% 23.64% 24.22% 23.64% 23.30%
No. of Shareholders 3,93,1677,46,2946,92,3406,76,2716,93,0646,68,5867,42,5796,28,4259,00,7709,95,7009,89,8219,77,483

* 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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Documents

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