Adani Green Energy Ltd logo

Adani Green Energy Ltd

ADANIGREEN NSE

Key Fundamentals

LargecapPower GenerationPower
Market Cap
2.3L Cr
Volatility
Moderate
P/E Ratio
126.72
EBITDA
₹11,659 Cr
Return on Equity
6.65%
Debt to Equity
5.19
Book Value
₹117.11
EPS
₹8.71
52W High
₹1,631.5
52W Low
₹765

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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43 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

1
  • Company's median sales growth is 31.4% of last 10 years

Weaknesses

6
  • Stock is trading at 11.3 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 has a low return on equity of 13.4% over last 3 years.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
11.25% ↘
Net Income Growth
-0.70% ↘
Cash Flow Change
21.17% ↗
ROE
-24.94% ↘
ROCE
-15.95% ↘
EBITDA Margin (Avg.)
3.90% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk high

Adani Green Energy Ltd commands a market cap of ₹2,29,188 Cr with a PE of 106.3x and PB of 11.83x, reflecting elevated valuations for a renewable energy platform that has compounded sales at 33% CAGR over 5 years but delivers an ROE of only 11-13%. The company pays no dividend and carries a low interest coverage ratio, while its profit growth has decelerated to 4% on a TTM basis.

Bull Case 7
  • Exceptional long-term revenue growth with 10-year compounded sales CAGR of 85%, demonstrating strong capacity addition and execution over a decade
  • 5-year compounded sales CAGR of 33% indicates sustained top-line momentum well above typical power sector peers
  • 5-year compounded profit CAGR of 44% shows the business has scaled profitability alongside revenue growth
  • Median sales growth of 31.4% over last 10 years reflects consistent project commissioning and capacity ramp-up
  • Stock has delivered 42% return over the past 1 year, indicating strong market confidence in the growth trajectory
  • 3-year compounded profit CAGR of 17% demonstrates continued earnings expansion despite a maturing base
  • 5-year ROE average of 15% shows the company has historically generated reasonable returns on shareholder equity at scale
Bear Case 8
  • PE ratio of 106.3x is extremely elevated, pricing in significant future growth and leaving minimal margin of safety
  • PB ratio of 11.83x means investors pay nearly 12 times book value, making the stock vulnerable to de-rating if growth slows
  • TTM profit growth has decelerated sharply to just 4%, down from 17% over 3 years and 44% over 5 years
  • Zero dividend yield despite reporting repeated profits suggests cash is being retained without direct shareholder return
  • Low interest coverage ratio indicates high debt servicing burden relative to operating earnings, raising financial risk
  • 3-year ROE of only 13.4% is modest for a stock trading at 11.83x book value, implying a significant valuation-return disconnect
  • Potential capitalization of interest costs may be flattering reported profitability, masking the true cost structure
  • Apparently low tax rate raises questions about sustainability of reported earnings if tax benefits normalize

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 4
  • Operational capacity up 27% YoY Jul 10

    Operational capacity rose 27% YoY to 20,142 MW in Q1 FY27, with energy sales up 30% to 13,657 million units.

  • FY26 EBITDA up 23%, 5.1 GW added Jul 22

    FY26 EBITDA rose 23% YoY to ₹10,865 crore driven by 5.1 GW greenfield capacity addition. Operational capacity grew 35% to 19.3 GW.

  • Q1FY27 profit rises 19% YoY Jul 26

    Consolidated net profit for Q1FY27 came in at ₹983 crore, up 19% YoY, supported by capacity additions and higher energy sales.

  • 500 MW pumped hydro this year Jul 22

    Plans to complete a 500 MW pumped hydro storage project in Andhra Pradesh this year to enhance grid stability and peak-demand dispatch.

Neutral 3
  • 17M share block trade recorded Aug 3

    A block trade of 17 million shares was executed outside the regular order book, signalling significant institutional-level activity.

  • B+ ESG rating assigned for FY26 Aug 1

    SES ESG Research assigned a score of 71.2 (Grade B+) for FY26, indicating medium ESG risk under SEBI regulations.

  • Sell-side analyst meet in Mumbai Jul 28

    Company scheduled physical meetings with sell-side analysts in Mumbai on August 3, 2026, disclosed under SEBI Regulation 30.

TL;DR: Adani Green is executing strongly on capacity growth, with operational MW up 27% YoY and profits rising 19-23% across quarterly and annual periods. No material headwinds emerged in this period. The 500 MW pumped hydro project and continued greenfield additions provide visibility on forward growth, though execution at scale and leverage remain areas to watch.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,162
2,220
2,311
2,527
2,794
3,005
2,340
3,073
3,800
3,008
2,618
3,502
4,431
Expenses
81
521
645
693
415
788
460
671
758
405
377
620
446
Operating Profit
2,081
1,699
1,666
1,834
2,379
2,217
1,880
2,402
3,042
2,603
2,241
2,882
3,985
OPM %
96%
77%
72%
73%
85%
74%
80%
78%
80%
87%
86%
82%
90%
Other Income
178
353
264
234
271
294
280
39
189
158
208
117
230
Interest
1,393
1,165
1,242
1,224
1,426
1,448
1,251
1,368
1,525
1,635
1,698
1,626
2,001
Depreciation
451
474
481
497
596
621
618
663
767
834
886
885
1,026
PBT
415
413
207
347
628
442
291
410
939
292
-135
488
1,188
Tax %
34%
29%
33%
24%
28%
6%
-37%
29%
25%
-81%
-27%
11%
22%
Net Profit
323
371
256
310
629
515
474
383
824
644
5
514
983
EPS in Rs
2.03
2.35
1.62
0.95
2.82
1.74
3.11
1.45
4.39
3.54
-0.25
2.41
5.13
Figures in ₹ Crores

Profit & Loss

  Mar 2016 15mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
28
502
1,480
2,058
2,549
3,124
5,133
7,792
9,220
11,212
12,928
13,559
Expenses
14
98
637
532
1,099
883
1,621
2,822
1,902
2,323
2,143
1,848
Operating Profit
13
403
843
1,526
1,450
2,241
3,512
4,970
7,318
8,889
10,785
11,711
OPM %
48%
80%
57%
74%
57%
72%
68%
64%
79%
79%
83%
86%
Other Income
7
80
42
73
-111
385
507
667
1,262
1,316
1,072
713
Interest
23
334
552
1,121
995
1,953
2,617
2,911
5,006
5,492
6,484
6,960
Depreciation
6
333
543
1,062
394
486
849
1,300
1,903
2,498
3,372
3,631
PBT
-9
-184
-210
-585
-50
187
553
1,426
1,671
2,215
2,001
1,833
Tax %
3%
-75%
-35%
-19%
22%
6%
12%
32%
25%
10%
1%
—
Net Profit
-9
-47
-138
-475
-68
182
489
973
1,260
2,001
1,987
2,146
EPS in Rs
-0.58
-0.37
-1
-3.03
-0.15
1.34
3.13
6.15
6.94
9.12
10.03
10.83
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
160
1,274
1,564
1,564
1,564
1,564
1,564
1,584
1,584
1,584
1,647
Reserves
-9
-71
-223
369
792
636
1,050
5,720
8,250
10,553
18,318
Borrowings
4,132
4,347
9,864
11,142
14,867
24,209
52,832
54,223
64,858
80,040
1,03,545
Other Liabilities
1,286
610
4,503
1,582
1,201
2,283
3,508
5,382
13,394
18,587
19,478
Total Liabilities
5,569
6,160
15,709
14,658
18,424
28,692
58,954
66,909
88,086
1,10,764
1,42,988
Fixed Assets
2,781
4,341
9,120
10,388
12,554
16,429
28,452
48,336
62,284
79,914
1,02,138
CWIP
1,962
267
1,725
743
1,208
4,452
19,899
5,291
6,427
14,480
19,031
Investments
7
26
87
77
477
502
574
1,149
1,515
2,743
2,983
Other Assets
819
1,525
4,777
3,449
4,185
7,309
10,029
12,133
17,860
13,627
18,836
Total Assets
5,569
6,160
15,709
14,658
18,424
28,692
58,954
66,909
88,086
1,10,764
1,42,988
Figures in ₹ Crores

Cash Flow

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
28
649
1,625
1,965
1,601
3,060
7,265
7,713
8,364
10,135
Investing
—
-1,511
-4,428
-2,666
-3,743
-9,137
-18,663
-3,857
-21,060
-19,828
-26,227
Financing
—
1,559
3,942
1,045
2,161
7,083
15,986
-2,973
13,953
12,068
15,615
Net Cash Flow
—
76
162
3
383
-453
383
435
606
604
-477
Free Cash Flow
—
-889
-3,763
-1,244
-1,431
-4,529
-11,728
3,927
-7,987
-16,397
-15,857
CFO/OP
—
7
78
108
137
72
88
146
106
97
95
Figures in ₹ Crores

Ratios

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
850
245
209
134
106
141
129
103
53
50
60
Inventory Days
—
—
—
383
—
—
—
—
—
—
—
Days Payable
—
—
—
455
—
—
—
—
—
—
—
Cash Conversion Cycle
850
245
209
63
106
141
129
103
53
50
60
Working Capital Days
-12,275
-218
-678
-182
-193
-407
-572
-175
-905
-436
-369
ROCE %
—
2%
4%
4%
8%
10%
8%
8%
10%
9%
7%

Shareholding Pattern

As of Jun 2026
Promoters 62.43%
Others 17.97%
FIIs 11.84%
DIIs 4.82%
Public 2.94%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
56.29%
57.47%
60.14%
61.27%
61.27%
60.50%
60.75%
60.75%
57.26%
56.27%
56.26%
56.37%
56.37%
57.52%
60.94%
60.94%
60.94%
61.91%
62.43%
62.43%
62.43%
62.43%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
18.16%
0.00%
18.15%
16.91%
15.15%
13.68%
12.45%
11.58%
11.29%
11.42%
11.10%
11.84%
DIIs
0.30%
0.30%
0.31%
0.62%
0.79%
0.98%
1.27%
1.40%
1.44%
1.47%
1.49%
1.50%
1.55%
1.47%
1.45%
1.72%
2.40%
2.86%
2.98%
4.31%
4.56%
4.82%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
1.66%
1.58%
1.38%
1.24%
1.18%
1.36%
1.43%
1.44%
2.78%
2.59%
2.62%
2.58%
2.42%
2.55%
2.16%
3.36%
3.77%
3.82%
3.73%
3.75%
3.80%
2.94%
Others
41.75%
40.65%
38.17%
36.86%
36.76%
37.16%
36.56%
36.40%
38.52%
39.67%
21.46%
39.55%
21.51%
21.56%
20.30%
20.30%
20.45%
19.82%
19.57%
18.09%
18.11%
17.97%
No. of Shareholders
0
1,64,787
2,30,977
2,21,025
1,89,612
2,28,469
3,71,764
3,85,297
3,93,167
6,92,340
6,76,271
6,93,064
6,68,586
7,42,579
6,28,425
9,00,770
9,95,700
9,89,821
9,77,483
9,35,716
9,30,970
7,99,143

Documents

1
Concall - Jul 2026 Jul 2026
2
Concall - Sep 2021 Sep 2021
3
Concall - Sep 2021 Sep 2021
4
Concall - Sep 2021 Sep 2021
5
Concall - Sep 2021 Sep 2021

Frequently Asked Questions about Adani Green Energy Ltd

What does Adani Green Energy Ltd do?
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]
Where is Adani Green Energy Ltd (ADANIGREEN) listed?
Adani Green Energy Ltd is listed on the Indian stock exchanges. It is listed on NSE: ADANIGREEN and BSE: 541450. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Adani Green Energy Ltd belong to?
Adani Green Energy Ltd operates in the Power sector within the Power Generation industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Adani Green Energy Ltd?
Adani Green Energy Ltd has a market capitalisation of approximately ₹225729.02 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Adani Green Energy Ltd?
The Price-to-Earnings (PE) ratio of Adani Green Energy Ltd is 126.72. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Adani Green Energy Ltd?
Over the past 52 weeks, Adani Green Energy Ltd has traded between a low of ₹765 and a high of ₹1,631.5. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Adani Green Energy Ltd?
Adani Green Energy Ltd has a Return on Equity (ROE) of 6.65%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Adani Green Energy Ltd on Tapetide?
On Tapetide, you can view Adani Green Energy Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website adanigreenenergy.com
CEO Mr. Saurabh Shah
Employees 1,247
Listed 2018-06-18
Face Value ₹ 10
Issued Size 1,64,71,76,155

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