Adani Green Energy Ltd

Adani Green Energy Ltd

₹ 993 0.48%
06 Jun 3:38 p.m.
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]

  • Market Cap 1,57,231 Cr.
  • Current Price 993
  • High / Low 2,574 / 439
  • Stock P/E 143
  • Book Value 46.1
  • Dividend Yield 0.00 %
  • ROCE 7.65 %
  • ROE 22.2 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 60.4% CAGR over last 5 years
  • Debtor days have improved from 136 to 103 days.

Cons

  • Stock is trading at 21.5 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -3.49%
  • 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
696 778 612 749 986 977 1,295 1,400 1,461 1,635 1,586 1,973 2,598
472 198 108 142 360 223 525 357 489 687 720 1,120 334
Operating Profit 224 580 504 607 626 754 770 1,043 972 948 866 853 2,264
OPM % 32% 75% 82% 81% 63% 77% 59% 74% 67% 58% 55% 43% 87%
4 29 106 94 83 182 115 71 111 66 100 216 265
Interest 70 448 484 545 476 524 613 813 667 458 498 617 1,338
Depreciation 108 110 119 124 133 151 164 260 274 280 298 330 392
Profit before tax 50 51 7 31 100 261 108 41 142 276 170 122 799
Tax % -28% 61% -86% -33% -4% 16% 7% -17% 15% 21% 14% 52% 38%
Net Profit 56 22 17 41 104 219 100 49 121 214 149 103 507
EPS in Rs 0.62 0.29 0.12 0.28 0.67 1.40 0.64 0.31 0.77 1.35 0.94 0.65 3.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
502 1,480 2,058 2,549 3,124 5,133 7,792
98 637 532 1,099 883 1,621 2,861
Operating Profit 403 843 1,526 1,450 2,241 3,512 4,931
OPM % 80% 57% 74% 57% 72% 68% 63%
80 42 73 -111 391 507 647
Interest 334 552 1,121 995 1,953 2,617 2,911
Depreciation 333 543 1,062 394 486 849 1,300
Profit before tax -184 -210 -585 -50 193 553 1,367
Tax % 75% 35% 19% -22% 6% 12% 33%
Net Profit -47 -138 -475 -68 182 489 973
EPS in Rs -0.37 -1.00 -3.03 -0.15 1.34 3.13 6.14
Dividend Payout % 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 39%
3 Years: 45%
TTM: 52%
Compounded Profit Growth
10 Years: %
5 Years: 60%
3 Years: 190%
TTM: 154%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 51%
1 Year: -45%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 19%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,274 1,564 1,564 1,564 1,564 1,564 1,584
Reserves -71 -223 369 792 636 1,050 5,720
4,347 9,864 11,142 14,867 24,209 52,832 54,223
610 4,503 1,582 1,201 2,283 3,508 5,834
Total Liabilities 6,160 15,709 14,658 18,424 28,692 58,954 67,361
4,341 9,120 10,388 12,554 16,429 28,452 48,336
CWIP 267 1,725 743 1,208 4,452 19,899 5,291
Investments 26 87 77 477 502 574 1,149
1,525 4,777 3,449 4,185 7,309 10,029 12,585
Total Assets 6,160 15,709 14,658 18,424 28,692 58,954 67,361

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
28 649 1,625 1,965 1,601 3,060 7,265
-1,511 -4,428 -2,666 -3,743 -9,137 -18,663 -3,857
1,559 3,942 1,045 2,161 7,083 15,986 -2,973
Net Cash Flow 76 162 3 383 -453 383 435

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 245 209 134 106 175 129 103
Inventory Days 383 11
Days Payable 455 82
Cash Conversion Cycle 245 209 63 106 175 129 33
Working Capital Days 244 -345 -51 -30 79 106 75
ROCE % 4% 4% 8% 10% 8% 8%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
74.92 74.92 74.92 56.29 57.47 60.14 61.27 61.27 60.50 60.75 60.75 57.26
21.52 22.43 22.78 21.47 20.32 17.83 16.59 16.53 15.91 15.25 15.14 17.13
0.19 0.27 0.32 0.30 0.30 0.32 0.62 0.79 0.98 1.26 1.40 1.45
3.38 2.39 1.99 21.94 21.91 21.71 21.51 21.41 22.61 22.74 22.70 24.16

* 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.

Click on the line-items to see the names of individual entities.

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