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Adani Green Energy

₹1715.3 -8.2 | 0.5%

Market Cap ₹271701 Cr.

Stock P/E 247.0

P/B 44.7

Current Price ₹1715.3

Book Value ₹ 38.3

Face Value 10

52W High ₹2173.7

Dividend Yield 0%

52W Low ₹ 816

Adani Green Energy Research see more...

Overview Inc. Year: 2015Industry: Power Generation/Distribution

Adani Green Energy Ltd generates and elements renewable energy to important and state authorities entities, and government backed corporations in India. The company builds, owns, and operates power plants thru renewable sources, including solar, wind, and hybrid; and gives different ancillary offerings. It operates solar power plants with an operational capability of 3,023 megawatts (MW); and wind electricity plants with an operational potential of 497 MW. The enterprise was included in 2015 and is based in Ahmedabad, India. Adani Green Energy Ltd was formerly a subsidiary of Adani Enterprises Limited.

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Adani Green Energy Share Price

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Adani Green Energy Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 1400 1461 1635 1584 1971 2587 2176 2220 2311 2527
Other Income 210 126 66 100 285 696 388 369 364 296
Total Income 1610 1587 1701 1684 2256 3283 2564 2589 2675 2823
Total Expenditure 496 489 687 718 1118 629 255 521 645 693
Operating Profit 1114 1098 1014 966 1138 2654 2309 2068 2030 2130
Interest 813 667 458 498 617 1338 1393 1165 1242 1206
Depreciation 260 274 280 298 330 392 451 474 481 497
Exceptional Income / Expenses 0 -15 0 0 -69 -125 -50 -16 -100 -80
Profit Before Tax 41 142 276 170 122 799 415 413 207 347
Provision for Tax -7 21 59 24 63 307 142 119 68 82
Profit After Tax 48 121 217 146 59 492 273 294 139 265
Adjustments 1 0 -3 3 44 16 49 78 117 -115
Profit After Adjustments 49 121 214 149 103 508 322 372 256 150
Adjusted Earnings Per Share 0.3 0.8 1.4 0.9 0.7 3.2 2 2.3 1.6 0.9

Adani Green Energy Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 28 502 1480 2058 2549 3124 5133 7776 9220 9234
Other Income 7 144 51 113 394 630 444 1369 1240 1417
Total Income 34 645 1531 2171 2943 3754 5577 9145 10460 10651
Total Expenditure 14 98 647 533 1099 889 1623 2845 1923 2114
Operating Profit 20 547 885 1638 1844 2865 3954 6300 8537 8537
Interest 39 397 552 1161 1309 2108 2617 3439 5006 5006
Depreciation 6 333 543 1062 394 486 849 1300 1903 1903
Exceptional Income / Expenses 0 0 0 0 -191 -84 64 -194 -246 -246
Profit Before Tax -24 -184 -210 -585 -50 193 553 1426 1671 1382
Provision for Tax 0 -138 -73 -113 11 11 64 453 411 411
Profit After Tax -24 -46 -137 -471 -61 182 489 973 1260 971
Adjustments -0 -0 -0 -2 38 28 0 1 -160 129
Profit After Adjustments -24 -47 -138 -474 -23 210 489 974 1100 1100
Adjusted Earnings Per Share -1.5 -0.4 -1 -3 -0.1 1.3 3.1 6.1 6.9 6.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 19% 43% 35% 0%
Operating Profit CAGR 36% 44% 39% 0%
PAT CAGR 29% 91% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 73% 20% 106% NA%
ROE Average 21% 32% 22% 3%
ROCE Average 10% 9% 9% 7%

Adani Green Energy Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 136 1203 1341 840 763 861 1190 5880 8410
Minority's Interest 0 0 0 -1 -46 -74 0 46 7614
Borrowings 3541 3663 8373 11041 14203 21085 44141 50056 41927
Other Non-Current Liabilities 409 -134 -231 -298 139 501 1342 2477 3321
Total Current Liabilities 1465 1290 5979 2699 3016 5797 11513 7941 26388
Total Liabilities 5551 6022 15463 14282 18075 28301 58605 66902 88086
Fixed Assets 2775 4341 9120 10388 12554 16429 28452 48336 62284
Other Non-Current Assets 2123 477 2612 1820 2938 7883 24026 10758 11939
Total Current Assets 653 1204 3731 2074 2562 3548 5506 7213 13306
Total Assets 5551 6022 15463 14282 18075 28301 58605 66902 88086

Adani Green Energy Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 0 9 88 251 254 637 184 567 1002
Cash Flow from Operating Activities -98 28 649 1625 1965 1601 3127 7265 7713
Cash Flow from Investing Activities -4197 -1510 -4428 -2666 -3743 -9225 -19348 -3857 -21060
Cash Flow from Financing Activities 4304 1559 3942 1045 2161 7083 15986 -2973 13953
Net Cash Inflow / Outflow 9 77 162 3 383 -541 -235 435 606
Closing Cash & Cash Equivalent 9 85 251 254 637 184 567 1002 1608

Adani Green Energy Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) -1.53 -0.37 -1 -3.03 -0.15 1.34 3.13 6.15 6.94
CEPS(Rs) -1.17 2.25 2.95 3.78 2.13 4.27 8.56 14.35 19.97
DPS(Rs) 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 8.47 9.44 8.38 5.37 4.88 5.51 7.61 37.12 38.33
Core EBITDA Margin(%) 48.27 80.37 56.31 74.12 56.89 71.54 68.38 63.41 79.14
EBIT Margin(%) 52.06 42.57 23.08 28.01 49.39 73.66 61.76 62.56 72.42
Pre Tax Margin(%) -87.76 -36.66 -14.2 -28.41 -1.96 6.18 10.77 18.34 18.12
PAT Margin (%) -88.67 -9.22 -9.29 -22.91 -2.39 5.83 9.53 12.51 13.67
Cash Profit Margin (%) -67.67 57.22 27.39 28.69 13.06 21.38 26.07 29.23 34.31
ROA(%) -0.44 -0.8 -1.28 -3.17 -0.38 0.78 1.13 1.55 1.63
ROE(%) -18.07 -6.91 -11.67 -47.29 -7.61 22.41 47.68 27.52 21.08
ROCE(%) 0.34 4.35 4.08 4.75 8.41 10.72 7.84 8.46 10.04
Receivable days 849.79 145.79 146.06 142.43 107.24 130.51 117.44 94.23 70.23
Inventory Days 5296.57 145.93 208.7 162.12 17.17 7.77 1.64 1.62 6.79
Payable days 0 0 0 365.9 3229.73 577.92 0 0 0
PER(x) 0 0 0 0 0 822.45 611.97 143.41 264.09
Price/Book(x) 0 0 0 6.94 31.5 200.6 251.48 23.76 47.84
Dividend Yield(%) 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 151.5 10.83 7.29 8.6 15.47 63.03 68.43 24.69 37.55
EV/Core EBITDA(x) 207.38 9.94 12.19 10.8 21.38 68.73 88.84 30.47 40.56
Net Sales Growth(%) 0 1716.95 195.08 39.03 23.86 22.56 64.31 51.49 18.57
EBIT Growth(%) 0 1385.75 59.99 68.74 118.4 82.76 37.77 53.47 37.25
PAT Growth(%) 0 -88.85 -197.36 -242.95 87.06 398.36 168.68 98.98 29.5
EPS Growth(%) 0 76.06 -172.6 -203.4 95.15 1012.78 132.86 96.67 12.94
Debt/Equity(x) 30.47 3.61 7.35 14.57 21.08 29.28 45.05 9.23 10.62
Current Ratio(x) 0.45 0.93 0.62 0.77 0.85 0.61 0.48 0.91 0.5
Quick Ratio(x) 0.17 0.93 0.34 0.72 0.81 0.61 0.48 0.9 0.49
Interest Cover(x) 0.37 0.54 0.62 0.5 0.96 1.09 1.21 1.41 1.33
Total Debt/Mcap(x) 0 0 0 2.1 0.67 0.15 0.18 0.39 0.22

Adani Green Energy Shareholding Pattern

# Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
Promoter 61.27 60.5 60.75 60.75 57.26 56.27 56.26 56.37 56.37 57.52
FII 16.53 15.91 15.25 15.14 17.13 18.26 18.16 18.03 18.15 16.91
DII 0.79 0.98 1.27 1.4 1.44 1.47 1.49 1.5 1.55 1.47
Public 21.41 22.61 22.73 22.71 24.16 24 24.08 24.1 23.93 24.11
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 32%
  • Company has reduced debt.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend.
  • Stock is trading at 44.7 times its book value.

* 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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