Adani Green Energy Ltd logo

Adani Green Energy Ltd

ADANIGREEN NSE

Key Fundamentals

LargecapPower GenerationPower
Market Cap
2.2L Cr
Volatility
Moderate
P/E Ratio
122.28
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 11.0 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 4d ago
AI opinion · based on fundamentals
Risk high

Adani Green Energy Ltd commands a market cap of ₹2,18,251 Cr with a PE of 102.4x and PB of 11.4x, reflecting premium growth expectations. The company has delivered strong 10-year sales CAGR of 85% and profit CAGR of 70%, but carries high leverage, pays no dividend, and has seen recent deceleration in growth with TTM sales growth at 11% and profit growth at just 4%.

Bull Case 7
  • Exceptional long-term revenue expansion with 10-year compounded sales growth of 85%, demonstrating sustained capacity addition in renewable energy
  • 10-year compounded profit growth of 70% shows the company has been able to scale profitability alongside revenue growth
  • Median sales growth of 31.4% over the last 10 years indicates consistent double-digit topline momentum
  • 5-year compounded sales growth of 33% and profit growth of 44% indicate profit is scaling faster than revenue, suggesting improving operating leverage
  • Stock has delivered 44% return over the past 1 year, reflecting strong market confidence in the renewable energy thesis
  • 3-year ROE of 13% and 5-year ROE of 15% show the company generates reasonable returns on equity despite heavy capital expenditure
  • Market cap of ₹2,18,251 Cr positions the company as one of India's largest pure-play renewable energy platforms, providing scale advantages in project execution and financing
Bear Case 8
  • PE ratio of 102.4x is extremely elevated, requiring sustained high growth for many years to justify current valuation
  • Price-to-book of 11.0x is very high, indicating the stock trades at a steep premium to its asset base
  • TTM sales growth has decelerated sharply to 11% from the 5-year CAGR of 33%, signaling a potential slowdown in capacity addition or tariff pressure
  • TTM profit growth of just 4% is a significant deceleration from the 5-year profit CAGR of 44%, raising questions about margin sustainability
  • Zero dividend yield despite reporting repeated profits suggests all cash is being reinvested or consumed by debt servicing, with no near-term shareholder returns
  • Low interest coverage ratio indicates heavy debt servicing burden relative to operating earnings, posing refinancing risk in a rising rate environment
  • Last year ROE declined to 11% from the 5-year average of 15%, showing diminishing return efficiency as the equity base expands
  • Potential capitalization of interest costs may be flattering reported profitability, masking the true cost of the company's debt-heavy expansion model

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

AI News Digest

Anthropic anthropic claude-opus-4.6 15h ago
Positives 4
  • FY26 EBITDA up 23% YoY Jul 22

    Adani Green reported FY26 EBITDA of ₹10,865 crore, up 23% YoY, driven by 5.1 GW greenfield capacity addition. Operational capacity grew 35% to 19.3 GW.

  • Q1FY27 profit rises 19% Jul 26

    Consolidated net profit of ₹983 crore for Q1FY27, up 19% YoY, supported by significant 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, enhancing grid stability and expanding its renewable portfolio.

  • ESG rating B+ for FY26 Aug 1

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

Neutral 4
  • 17M share block trade Aug 3

    A block trade of 17 million shares was executed outside the regular order book, signalling large-scale institutional activity without clear directional bias.

  • EGM scheduled for Sep 3 Aug 11

    EGM to be held on September 3, 2026 via VC/OAVM. Remote e-voting opens August 30 for shareholders.

  • Investor meets in Mumbai Aug 7

    Physical one-on-one and group meetings with investors and analysts scheduled in Mumbai on August 13 and 17 at Emkay and Motilal Oswal conferences.

  • Sell-side analyst meet Aug 3 Jul 28

    Physical meetings with sell-side analysts held in Mumbai on August 3, 2026 as per SEBI Regulation 30 disclosure.

TL;DR: Adani Green is delivering strong operational and financial momentum with 35% capacity growth to 19.3 GW and double-digit profit expansion in both FY26 and Q1FY27. No material headwinds emerged in recent news flow. The 500 MW pumped hydro project and continued greenfield additions provide near-term growth visibility. The trend remains firmly positive as long as execution on capacity targets continues.

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 ₹218217.90 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 122.28. 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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