Adani Green Energy Ltd.

NSE: ADANIGREEN · Power Generation

52W Range₹765 ₹1,632

Snapshot

Unlock Adani Green Energy Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Adani Green Energy Limited is a renewable energy company that develops, owns, and operates solar, wind, and hybrid power plants. It supplies electricity to central and state government entities and government-backed corporations across India.

Business Model

The company generates revenue by selling renewable energy through long-term power purchase agreements with government-backed entities. It focuses on scaling its operational capacity through the construction and management of large-scale solar and wind infrastructure.

  • Operational Solar Capacity:4,763 MW
  • Operational Wind Capacity:647 MW

Growth Outlook

Growth is driven by the aggressive expansion of renewable energy capacity to meet India's increasing power demand and decarbonisation targets. The company continues to invest in hybrid projects to optimise energy generation and grid stability.

Key Risks

  • Regulatory and Policy Risk. Changes in government renewable energy policies or tariff structures could adversely impact the company's long-term revenue stability.
  • Counterparty Credit Risk. The company's reliance on state-owned distribution companies for payments exposes it to potential delays in receivables and liquidity constraints.
  • Execution and Operational Risk. Delays in project commissioning or technical underperformance of solar and wind assets could hinder capacity expansion targets.
  • Financing Risk. High capital expenditure requirements for renewable projects make the company sensitive to interest rate fluctuations and debt refinancing conditions.

Price

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Key Metrics

REVENUE

₹13,226 Cr

TTM · consolidated

+16.8%YoY

NET PROFIT

₹2,811 Cr

TTM · consolidated

+40.5%YoY

EPS

₹13.91

TTM · consolidated

+66.2%YoY

RETURN ON EQUITY

30.9%

TTM · consolidated

+11.7 ppYoY

RETURN ON CAPITAL EMPLOYED

12.6%

TTM · consolidated

+2.8 ppYoY

P/E

111.0x

Q4 FY26 · consolidated

111.0 vs -96.3x5Y avg

EV/EBITDA

19.1x

Q4 FY26 · consolidated

19.1 vs 165.0x5Y avg

EBITDA MARGIN

100.4%

TTM · consolidated

+14.7 ppYoY

NET PROFIT MARGIN

0.2%

Q3 FY26 · consolidated

-19.8 ppYoY

DEBT TO EQUITY

4.4x

Q3 FY26 · consolidated

-1.80xYoY

Peers · Power Generation

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Adani Green Energy Ltd.ADANIGREEN
1,38,033110.9819.1516.8%100.4%30.9%12.6%+48.6%
JSW Energy Ltd.JSWENERGY
85,45742.3515.5160.9%58.4%9.8%9.2%+2.2%
NTPC Green Energy Ltd.NTPCGREEN
82,114152.5440.5692.8%2.8%3.5%-16.9%
NHPC Ltd.NHPC
76,59321.0420.5211.9%54.3%10.5%4.5%-10.9%
NLC India Ltd.NLCINDIA
36,01711.3310.4814.5%37.5%19.4%8.5%+26.1%
SJVN Ltd.SJVN
26,51042.9816.5147.4%78.3%4.5%6.0%-29.3%

As of Q4 FY26

Financials