Adani Green Energy Ltd
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]
- Market Cap ₹ 1,67,160 Cr.
- Current Price ₹ 1,030
- High / Low ₹ 2,092 / 758
- Stock P/E 100
- Book Value ₹ 76.6
- Dividend Yield 0.00 %
- ROCE 8.70 %
- ROE 14.6 %
- Face Value ₹ 10.0
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 13.4 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
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Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
502 | 1,480 | 2,058 | 2,549 | 3,124 | 5,133 | 7,776 | 9,220 | 11,212 | |
98 | 637 | 532 | 1,098 | 883 | 1,621 | 2,806 | 1,881 | 2,323 | |
Operating Profit | 403 | 843 | 1,526 | 1,450 | 2,241 | 3,512 | 4,970 | 7,339 | 8,889 |
OPM % | 80% | 57% | 74% | 57% | 72% | 68% | 64% | 80% | 79% |
80 | 42 | 73 | -111 | 391 | 507 | 667 | 1,323 | 1,316 | |
Interest | 334 | 552 | 1,121 | 995 | 1,953 | 2,617 | 2,911 | 5,088 | 5,492 |
Depreciation | 333 | 543 | 1,062 | 394 | 486 | 849 | 1,300 | 1,903 | 2,498 |
Profit before tax | -184 | -210 | -585 | -50 | 193 | 553 | 1,426 | 1,671 | 2,215 |
Tax % | -75% | -35% | -19% | 23% | 6% | 12% | 32% | 25% | 10% |
-47 | -138 | -475 | -68 | 182 | 489 | 973 | 1,260 | 2,001 | |
EPS in Rs | -0.37 | -1.00 | -3.03 | -0.15 | 1.34 | 3.13 | 6.15 | 6.94 | 9.12 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 34% |
3 Years: | 30% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 127% |
3 Years: | 56% |
TTM: | 32% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 24% |
3 Years: | -21% |
1 Year: | -40% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | 16% |
Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 1,274 | 1,564 | 1,564 | 1,564 | 1,564 | 1,564 | 1,584 | 1,584 | 1,584 |
Reserves | -71 | -223 | 369 | 793 | 636 | 1,050 | 5,720 | 9,058 | 10,553 |
4,347 | 9,864 | 11,142 | 14,866 | 24,209 | 52,832 | 54,223 | 64,858 | 80,040 | |
610 | 4,503 | 1,582 | 1,201 | 2,283 | 3,508 | 5,382 | 12,586 | 18,587 | |
Total Liabilities | 6,160 | 15,709 | 14,658 | 18,424 | 28,692 | 58,954 | 66,909 | 88,086 | 110,764 |
4,341 | 9,120 | 10,388 | 12,554 | 16,429 | 28,452 | 48,336 | 62,284 | 79,914 | |
CWIP | 267 | 1,725 | 743 | 1,208 | 4,452 | 19,899 | 5,291 | 6,427 | 14,480 |
Investments | 26 | 87 | 77 | 476 | 502 | 574 | 1,149 | 1,515 | 2,743 |
1,525 | 4,777 | 3,449 | 4,186 | 7,309 | 10,029 | 12,133 | 17,860 | 13,627 | |
Total Assets | 6,160 | 15,709 | 14,658 | 18,424 | 28,692 | 58,954 | 66,909 | 88,086 | 110,764 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
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 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
Debtor Days | 245 | 209 | 134 | 106 | 175 | 129 | 104 | 53 | 50 |
Inventory Days | 383 | ||||||||
Days Payable | 455 | ||||||||
Cash Conversion Cycle | 245 | 209 | 63 | 106 | 175 | 129 | 104 | 53 | 50 |
Working Capital Days | 244 | -345 | -51 | -33 | 79 | 102 | 27 | -7 | -83 |
ROCE % | 4% | 4% | 8% | 10% | 8% | 8% | 10% | 9% |
Documents
Announcements
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Update On ESG Rating By SES
16h - Adani Green's ESG score improved to 71.2 (Grade B+), medium risk, up 3.6 points from last year.
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Allotment Of Shares Upon Conversion Of Warrants - All Warrants Are Now Converted
2d - Promoter Ardour converted 1.16 crore warrants into equity, raising INR 1285.6 crore, increasing promoter holding to 62.43%.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Jul
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Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results (Standalone And Consolidated) For The Quarter Ended June 30, 2025.
16 Jul - Board meeting on July 28 to approve Q1 FY26 results; earnings call on July 29 with Macquarie.
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Allotment Of Shares Upon Conversion Of Warrants
12 Jul - Ardour converted 1.08 crore warrants into equity shares at Rs.1480.75, increasing promoter holding to 62.17%.
Annual reports
Concalls
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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]