Adani Green Energy Ltd

About [ edit ]

Adani Green Energy is a holding company of several subsidiaries carrying business of renewable power generation within the Group. The Company is primarily involved in renewable power generation and other ancillary activities.

  • Market Cap 183,506 Cr.
  • Current Price 1,172
  • High / Low 1,220 / 112
  • Stock P/E 625
  • Book Value 13.8
  • Dividend Yield 0.00 %
  • ROCE 8.23 %
  • ROE 3.41 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 149.87 to 106.03 days.

Cons

  • Stock is trading at 85.02 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -18.15% for last 3 years.
  • Company might be capitalizing the interest cost
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
406 472 449 456 681 661 688 504 696 779 612 749
148 184 252 -112 209 167 307 153 472 199 108 142
Operating Profit 258 288 196 568 472 494 382 351 224 580 504 607
OPM % 64% 61% 44% 125% 69% 75% 55% 70% 32% 74% 82% 81%
Other Income 11 10 10 15 38 -84 24 -55 4 29 106 94
Interest 174 171 198 455 297 293 268 363 70 448 483 545
Depreciation 166 227 271 270 293 248 -63 102 108 110 119 124
Profit before tax -71 -99 -263 -142 -80 -131 200 -169 50 51 8 31
Tax % 39% 25% 28% 15% -10% 25% 49% 24% -28% 61% -77% -33%
Net Profit -43 -74 -188 -118 -94 -96 100 -124 96 45 19 44
EPS in Rs -0.31 -0.47 -1.20 -0.75 -0.60 -0.61 0.64 -0.79 0.62 0.29 0.12 0.28
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
502 1,480 2,058 2,549 2,835
98 637 532 1,098 921
Operating Profit 403 843 1,526 1,450 1,914
OPM % 80% 57% 74% 57% 68%
Other Income 80 42 73 -111 234
Interest 334 552 1,121 995 1,546
Depreciation 333 543 1,062 394 462
Profit before tax -184 -210 -585 -50 140
Tax % 75% 35% 19% -23%
Net Profit -47 -138 -474 -23 204
EPS in Rs -0.37 -1.00 -3.03 -0.15 1.31
Dividend Payout % 0% 0% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:72%
TTM:12%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:31%
TTM:726%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:709%
Return on Equity
10 Years:%
5 Years:%
3 Years:-18%
Last Year:3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
1,274 1,564 1,564 1,564 2,813
Reserves -71 -223 -724 -801 -658
Borrowings 4,347 9,864 11,142 14,866 19,747
610 4,503 2,675 2,794 2,821
Total Liabilities 6,160 15,709 14,658 18,424 24,724
4,341 9,120 10,388 12,554 14,079
CWIP 267 1,725 743 1,208 1,986
Investments 26 87 77 476 342
1,525 4,777 3,449 4,186 8,317
Total Assets 6,160 15,709 14,658 18,424 24,724

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020
28 649 1,625 1,965
-1,511 -4,428 -2,666 -3,743
1,559 3,942 1,045 2,161
Net Cash Flow 76 162 3 383

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 4% 5% 8%
Debtor Days 245 209 134 106
Inventory Turnover 0.00 0.14 0.18

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
86.58 86.58 86.50 86.50 74.92 74.92 74.92 74.92 74.92 74.92 74.92
10.90 10.88 10.40 10.26 20.34 20.32 20.80 21.14 21.52 22.43 22.78
0.28 0.28 0.28 0.24 0.28 0.31 0.30 0.20 0.19 0.27 0.32
2.24 2.26 2.82 3.00 4.46 4.45 3.99 3.75 3.38 2.39 1.99

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