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Adani Green Energy Overview

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...Read More

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Adani Green Energy Key Financials

Market Cap ₹185686 Cr.

Stock P/E 92.8

P/B 9.6

Current Price ₹1127.3

Book Value ₹ 117.9

Face Value 10

52W High ₹1179.2

Dividend Yield 0%

52W Low ₹ 767

Adani Green Energy Share Price

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Volume
Price

Adani Green Energy Quarterly Price

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Adani Green Energy Peer Comparison

Adani Green Energy Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 2220 2311 2562 2794 3005 2340 3064 3800 3008 2618
Other Income 369 364 279 318 391 296 223 206 241 219
Total Income 2589 2675 2841 3112 3396 2636 3287 4006 3249 2837
Total Expenditure 521 645 693 415 788 460 680 758 405 377
Operating Profit 2068 2030 2148 2697 2608 2176 2607 3248 2844 2460
Interest 1165 1242 1224 1426 1448 1251 1368 1525 1635 1698
Depreciation 474 481 497 596 621 618 663 767 834 886
Exceptional Income / Expenses -16 -100 -80 -47 -97 -16 -166 -17 -83 -11
Profit Before Tax 413 207 347 628 442 291 410 939 292 -135
Provision for Tax 119 68 82 179 26 -109 118 232 -237 -37
Profit After Tax 294 139 265 449 416 400 292 707 529 -98
Adjustments 78 117 -115 -3 -140 92 -62 6 54 57
Profit After Adjustments 372 256 150 446 276 492 230 713 583 -41
Adjusted Earnings Per Share 2.3 1.6 0.9 2.8 1.7 3.1 1.5 4.4 3.5 -0.2

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 Mar 2025 TTM
Net Sales 28 502 1480 2058 2549 3124 5133 7776 9220 11212 12490
Other Income 7 144 51 113 394 630 444 1369 1301 1493 889
Total Income 34 645 1531 2171 2943 3754 5577 9145 10521 12705 13379
Total Expenditure 14 98 647 533 1099 889 1623 2845 1902 2335 2220
Operating Profit 20 547 885 1638 1844 2865 3954 6300 8619 10370 11159
Interest 39 397 552 1161 1309 2108 2617 3439 5088 5775 6226
Depreciation 6 333 543 1062 394 486 849 1300 1903 2498 3150
Exceptional Income / Expenses 0 0 0 0 -191 -84 64 -194 -246 -326 -277
Profit Before Tax -24 -184 -210 -585 -50 193 553 1426 1671 2215 1506
Provision for Tax 0 -138 -73 -113 11 11 64 453 411 214 76
Profit After Tax -24 -46 -137 -471 -61 182 489 973 1260 2001 1430
Adjustments -0 -0 -0 -2 38 28 0 1 -160 -557 55
Profit After Adjustments -24 -47 -138 -474 -23 210 489 974 1100 1444 1485
Adjusted Earnings Per Share -1.5 -0.4 -1 -3 -0.1 1.3 3.1 6.1 6.9 9.1 9.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 22% 30% 34% 0%
Operating Profit CAGR 20% 38% 41% 0%
PAT CAGR 59% 60% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 19% 5% 1% NA%
ROE Average 26% 25% 29% 5%
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 Mar 2025
Shareholder's Funds 136 1203 1341 840 763 861 1190 5880 9218 10713
Minority's Interest 0 0 0 -1 -46 -74 0 46 6806 10437
Borrowings 3541 3663 8373 11041 14203 21085 44141 50056 41927 68787
Other Non-Current Liabilities 409 -134 -231 -298 139 501 1342 2477 3321 3940
Total Current Liabilities 1465 1290 5979 2699 3016 5797 11513 7941 26388 16888
Total Liabilities 5551 6022 15463 14282 18075 28301 58605 66902 88086 110765
Fixed Assets 2775 4341 9120 10388 12554 16429 28452 48336 62284 79915
Other Non-Current Assets 2123 477 2612 1820 2938 7883 24026 10758 11939 22228
Total Current Assets 653 1204 3731 2074 2562 3548 5506 7213 13306 8622
Total Assets 5551 6022 15463 14282 18075 28301 58605 66902 88086 110765

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 Mar 2025
Opening Cash & Cash Equivalents 0 9 88 251 254 637 184 567 1002 1608
Cash Flow from Operating Activities -98 28 649 1625 1965 1601 3127 7265 7713 8364
Cash Flow from Investing Activities -4197 -1510 -4428 -2666 -3743 -9225 -19348 -3857 -21060 -19827
Cash Flow from Financing Activities 4304 1559 3942 1045 2161 7083 15986 -2973 13953 12068
Net Cash Inflow / Outflow 9 77 162 3 383 -541 -235 435 606 605
Closing Cash & Cash Equivalent 9 85 251 254 637 184 567 1002 1608 2212

Adani Green Energy Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -1.53 -0.37 -1 -3.03 -0.15 1.34 3.13 6.15 6.94 9.12
CEPS(Rs) -1.17 2.25 2.95 3.78 2.13 4.27 8.56 14.35 19.97 28.4
DPS(Rs) 0 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 43.43 52.87
Core EBITDA Margin(%) 48.27 80.37 56.31 74.12 56.89 71.54 68.38 63.41 79.37 79.17
EBIT Margin(%) 52.06 42.57 23.08 28.01 49.39 73.66 61.76 62.56 73.31 71.26
Pre Tax Margin(%) -87.76 -36.66 -14.2 -28.41 -1.96 6.18 10.77 18.34 18.12 19.76
PAT Margin (%) -88.67 -9.22 -9.29 -22.91 -2.39 5.83 9.53 12.51 13.67 17.85
Cash Profit Margin (%) -67.67 57.22 27.39 28.69 13.06 21.38 26.07 29.23 34.31 40.13
ROA(%) -0.44 -0.8 -1.28 -3.17 -0.38 0.78 1.13 1.55 1.63 2.01
ROE(%) -18.07 -6.91 -11.67 -47.29 -7.61 22.41 47.68 27.52 19.75 26.23
ROCE(%) 0.34 4.35 4.08 4.75 8.41 10.72 7.84 8.46 10.1 9.75
Receivable days 849.79 145.79 146.06 142.43 107.24 130.51 117.44 94.23 70.23 46.91
Inventory Days 5296.57 145.93 208.7 162.12 17.17 7.77 1.64 1.62 6.79 6.38
Payable days 0 0 0 365.9 3229.73 577.92 0 0 0 0
PER(x) 0 0 0 0 0 822.45 611.97 143.41 264.09 104.11
Price/Book(x) 0 0 0 6.94 31.5 200.6 251.48 23.76 42.22 17.95
Dividend Yield(%) 0 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 20.2
EV/Core EBITDA(x) 207.38 9.94 12.19 10.8 21.38 68.73 88.84 30.47 40.17 21.84
Net Sales Growth(%) 0 1716.95 195.08 39.03 23.86 22.56 64.31 51.49 18.57 21.61
EBIT Growth(%) 0 1385.75 59.99 68.74 118.4 82.76 37.77 53.47 38.93 18.21
PAT Growth(%) 0 -88.85 -197.36 -242.95 87.06 398.36 168.68 98.98 29.5 58.81
EPS Growth(%) 0 76.06 -172.6 -203.4 95.15 1012.78 132.86 96.67 12.94 31.27
Debt/Equity(x) 30.47 3.61 7.35 14.57 21.08 29.28 45.05 9.23 9.37 9.49
Current Ratio(x) 0.45 0.93 0.62 0.77 0.85 0.61 0.48 0.91 0.5 0.51
Quick Ratio(x) 0.17 0.93 0.34 0.72 0.82 0.61 0.48 0.9 0.49 0.5
Interest Cover(x) 0.37 0.54 0.62 0.5 0.96 1.09 1.21 1.41 1.33 1.38
Total Debt/Mcap(x) 0 0 0 2.1 0.67 0.15 0.18 0.39 0.22 0.53

Adani Green Energy Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 56.37 56.37 57.52 60.94 60.94 60.94 61.91 62.43 62.43 62.43
FII 18.03 18.15 16.91 15.15 13.68 12.45 11.58 11.29 11.42 11.1
DII 1.5 1.55 1.47 1.45 1.72 2.4 2.86 2.98 4.31 4.56
Public 24.1 23.93 24.11 22.46 23.66 24.22 23.64 23.3 21.84 21.91
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Adani Green Energy News

Adani Green Energy Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 25%

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend.
  • Stock is trading at 9.6 times its book value.
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