Adani Green Energy

₹1684.2 -26.3 | 1.5%

WEBSITE BSE:541450 NSE : ADANIGREEN 22 Oct, 16:01

Market Cap ₹266783 Cr.

Stock P/E 218.0

P/B 40.9

Current Price ₹1684.2

Book Value ₹ 41.2

Face Value 10

52W High ₹2173.7

Dividend Yield 0%

52W Low ₹ 816

Edit Ratio

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.

Adani Green Energy Share Price

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Peer Comparison

Adani Green Energy Quarterly Results

#(Fig in Cr.)	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Net Sales	1461	1635	1584	1971	2587	2162	2220	2311	2527	2834
Other Income	126	66	100	285	696	388	369	364	296	288
Total Income	1587	1701	1684	2256	3283	2550	2589	2675	2823	3122
Total Expenditure	489	687	718	1118	629	241	521	645	693	414
Operating Profit	1098	1014	966	1138	2654	2309	2068	2030	2130	2708
Interest	667	458	498	617	1338	1393	1165	1242	1206	1440
Depreciation	274	280	298	330	392	451	474	481	497	593
Exceptional Income / Expenses	-15	0	0	-69	-125	-50	-16	-100	-80	-47
Profit Before Tax	142	276	170	122	799	415	413	207	347	628
Provision for Tax	21	59	24	63	307	142	119	68	82	179
Profit After Tax	121	217	146	59	492	273	294	139	265	449
Adjustments	0	-3	3	44	16	49	78	117	-115	-3
Profit After Adjustments	121	214	149	103	508	322	372	256	150	446
Adjusted Earnings Per Share	0.8	1.4	0.9	0.7	3.2	2	2.3	1.6	0.9	2.8

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	9892
Other Income	7	144	51	113	394	630	444	1369	1240	1317
Total Income	34	645	1531	2171	2943	3754	5577	9145	10460	11209
Total Expenditure	14	98	647	533	1099	889	1623	2845	1923	2273
Operating Profit	20	547	885	1638	1844	2865	3954	6300	8537	8936
Interest	39	397	552	1161	1309	2108	2617	3439	5006	5053
Depreciation	6	333	543	1062	394	486	849	1300	1903	2045
Exceptional Income / Expenses	0	0	0	0	-191	-84	64	-194	-246	-243
Profit Before Tax	-24	-184	-210	-585	-50	193	553	1426	1671	1595
Provision for Tax	0	-138	-73	-113	11	11	64	453	411	448
Profit After Tax	-24	-46	-137	-471	-61	182	489	973	1260	1147
Adjustments	-0	-0	-0	-2	38	28	0	1	-160	77
Profit After Adjustments	-24	-47	-138	-474	-23	210	489	974	1100	1224
Adjusted Earnings Per Share	-1.5	-0.4	-1	-3	-0.1	1.3	3.1	6.1	6.9	7.6

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	91%	12%	81%	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

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	60.5	60.75	60.75	57.26	56.27	56.26	56.37	56.37	57.52	60.94
FII	15.91	15.25	15.14	17.13	18.26	18.16	18.03	18.15	16.91	15.15
DII	0.98	1.27	1.4	1.44	1.47	1.49	1.5	1.55	1.47	1.45
Public	22.61	22.73	22.71	24.16	24	24.08	24.1	23.93	24.11	22.46
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	95.83	96.23	96.23	90.71	89.14	89.12	89.3	89.3	91.11	96.53
FII	25.2	24.15	23.98	27.14	28.92	28.77	28.56	28.75	26.78	24
DII	1.55	2.01	2.22	2.29	2.32	2.36	2.38	2.45	2.32	2.3
Public	35.82	36.01	35.97	38.27	38.02	38.15	38.17	37.9	38.19	35.57
Others	0	0	0	0	0	0	0	0	0	0
Total	158.4	158.4	158.4	158.4	158.4	158.4	158.4	158.4	158.4	158.4

Pros

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

Cons

Though the company is reporting repeated profits, it is not paying out dividend.
Stock is trading at 40.9 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.