Adani Green Energy Ltd

₹ 1,224 2.94%
31 Jan - 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

Adani Group
The co. belongs to the Adani Group, a diversified industrial conglomerate in India with a combined market capitalisation of ~USD 206 Billion in April 2022, comprising seven publicly traded companies. [1]

Website BSE NSE
  • Market Cap ₹ 193,870 Cr.
  • Current Price ₹ 1,224
  • High / Low ₹ 3,050 / 1,074
  • Stock P/E 356
  • Book Value ₹ 33.7
  • Dividend Yield 0.00 %
  • ROCE 7.86 %
  • ROE 42.4 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 41.5% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.3%

Cons

  • Stock is trading at 36.3 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -14.2%
  • Working capital days have increased from 51.5 days to 106 days

* 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

Sector: Power Generation & Distribution Industry: Power Generation And Supply

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
688 504 696 778 612 749 986 977 1,295 1,400 1,461 1,635 1,586
307 153 472 198 108 142 360 223 525 357 489 687 720
Operating Profit 382 351 224 580 504 607 626 754 770 1,043 972 948 866
OPM % 55% 70% 32% 75% 82% 81% 63% 77% 59% 74% 67% 58% 55%
24 -55 4 29 106 94 83 182 115 71 111 66 100
Interest 268 363 70 448 484 545 476 524 613 813 667 458 498
Depreciation -63 102 108 110 119 124 133 151 164 260 274 280 298
Profit before tax 200 -169 50 51 7 31 100 261 108 41 142 276 170
Tax % 49% 24% -28% 61% -86% -33% -4% 16% 7% -17% 15% 21% 14%
Net Profit 102 -128 56 22 17 41 104 219 100 49 121 214 149
EPS in Rs 0.64 -0.79 0.62 0.29 0.12 0.28 0.67 1.40 0.64 0.31 0.77 1.35 0.94
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
502 1,480 2,058 2,549 3,124 5,133 6,082
98 637 532 1,099 883 1,621 2,253
Operating Profit 403 843 1,526 1,450 2,241 3,512 3,829
OPM % 80% 57% 74% 57% 72% 68% 63%
80 42 73 -111 391 507 348
Interest 334 552 1,121 995 1,953 2,617 2,436
Depreciation 333 543 1,062 394 486 849 1,112
Profit before tax -184 -210 -585 -50 193 553 629
Tax % 75% 35% 19% -22% 6% 12%
Net Profit -47 -138 -475 -68 182 489 533
EPS in Rs -0.37 -1.00 -3.03 -0.15 1.34 3.13 3.37
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 59%
3 Years: 36%
TTM: 52%
Compounded Profit Growth
10 Years: %
5 Years: 41%
3 Years: 43%
TTM: 33%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 87%
1 Year: -36%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 28%
Last Year: 42%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
1,274 1,564 1,564 1,564 1,564 1,564 3,008
Reserves -71 -223 -724 -801 -703 -374 3,751
4,347 9,864 11,142 14,867 24,209 52,832 52,041
610 4,503 2,675 2,794 3,622 4,932 3,641
Total Liabilities 6,160 15,709 14,658 18,424 28,692 58,954 62,441
4,341 9,120 10,388 12,554 16,429 28,452 30,480
CWIP 267 1,725 743 1,208 4,452 19,899 19,927
Investments 26 87 77 477 502 574 841
1,525 4,777 3,449 4,185 7,309 10,029 11,193
Total Assets 6,160 15,709 14,658 18,424 28,692 58,954 62,441

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
28 649 1,625 1,965 1,601 3,060
-1,511 -4,428 -2,666 -3,743 -9,137 -18,663
1,559 3,942 1,045 2,161 7,083 15,986
Net Cash Flow 76 162 3 383 -453 383

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 245 209 134 106 175 129
Inventory Days 383
Days Payable 455
Cash Conversion Cycle 245 209 63 106 175 129
Working Capital Days 244 -345 -51 -30 79 106
ROCE % 4% 5% 8% 11% 8%

Shareholding Pattern

Numbers in percentages

3 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
74.92 74.92 74.92 74.92 56.29 57.47 60.14 61.27 61.27 60.50 60.75 60.75
21.14 21.52 22.43 22.78 21.47 20.32 17.83 16.59 16.53 15.91 15.25 15.14
0.20 0.19 0.27 0.32 0.30 0.30 0.32 0.62 0.79 0.98 1.26 1.40
3.75 3.38 2.39 1.99 21.94 21.91 21.71 21.51 21.41 22.61 22.74 22.70

* 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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