Adani Green Energy Ltd.

•

adanigreenenergy.comBSE: 541450NSE: ADANIGREEN

Market Cap₹ 2,11,168 Cr.

Current Price

High / Low₹ 1,632 / 765

Stock P/E118.4

Book Value₹ 123

Price to Book6.89

Dividend Yield0.00 %

ROCE9.9 %

ROE14.4 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Renewable Power Generation & Other Related Ancillary Activities: 85.9% • Sale of Goods/ Equipments & Related Services: 14.1%

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Company has delivered good profit growth of 61.3% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 20.1%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 32.9% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 5.11x)

CONS

Company has a high debt-to-equity of 5.24x
A large part of profit comes from other income (141.5% of PBT)
Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of 9.9%
Interest coverage is weak at 1.2x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY NEXT 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT NIFTY200MOMENTM30 NIFTY TOTAL MKT

S.No.	Name
1.	ADANIPOWER	209.85	28.39	404689.32	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	333.30	11.64	323189.88	2.70	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	269.10	15.74	250279.25	3.34	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1282.00	118.37	211167.98	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1373.75	57.55	168003.37	0.00	12365.60	2194.43	97110.80	1324.06	9.71	31.27
6.	TATAPOWER	365.00	30.19	116629.89	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	525.45	48.97	96340.35	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.30	20.19	76643.62	2.11	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	86.90	120.64	73224.80	0.00	304.84	38.26	1106.86	62.72	3.73	91.95
10.	TORNTPOWER	1298.20	28.15	65416.76	1.54	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	264.25	11.42	36641.87	1.46	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	ACMESOLAR	401.85	47.07	28405.75	0.05	235.33	79.88	857.50	67.81	9.23	85.63

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,162	2,205	2,311	2,562	2,794	2,983	2,340	3,051	3,800	2,824	2,618	3,328	4,431
	241	521	645	693	415	788	460	671	758	405	377	620	3,473
Operating Profit	1,921	1,684	1,666	1,869	2,379	2,195	1,880	2,380	3,042	2,419	2,241	2,708	958
OPM %	88.85%	76.37%	72.09%	72.95%	85.15%	73.58%	80.34%	78.01%	80.05%	85.66%	85.60%	81.37%	21.62%
	338	353	264	199	271	294	280	39	189	158	208	117	234
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
Profit before Tax	415	413	207	347	628	442	291	410	939	292	-135	488	1,246
Tax %	34.22%	28.81%	32.85%	23.63%	28.50%	5.88%	-37.46%	28.78%	24.71%	-81.16%	27.41%	11.48%	21.11%
Net Profit	0	0	0	0	629	515	474	383	824	644	50	514	983
	1.85	2.17	1.42	0.76	2.63	1.56	2.92	1.26	4.26	3.44	-0.38	2.33	5.05

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	502	1,480	2,058	2,549	3,124	5,133	7,776	9,220	11,212	12,928	13,201
	98	647	533	1,099	889	1,623	2,845	1,902	2,335	2,160	4,875
Operating Profit	403	834	1,525	1,450	2,235	3,510	4,931	7,318	8,877	10,768	8,326
OPM %	80.37%	56.31%	74.12%	56.89%	71.54%	68.38%	63.41%	79.37%	79.17%	83.29%	63.07%
	144	51	113	203	546	508	1,175	1,055	1,167	2,613	717
Interest	397	552	1,161	1,309	2,108	2,617	3,439	5,088	5,775	8,425	6,960
Depreciation	333	543	1,062	394	486	849	1,300	1,903	2,498	3,372	3,631
Profit before Tax	-184	-210	-585	-50	193	553	1,426	1,671	2,215	2,001	1,891
Tax %	74.86%	34.59%	19.36%	-22.00%	5.70%	11.57%	31.77%	24.60%	9.66%	0.70%	2.38%
Net Profit	-46	-137	-471	-61	182	489	973	1,260	2,001	1,987	1,846
EPS	-0.67	-0.88	-3.57	-0.74	0.68	2.41	5.41	6.94	9.12	10.03	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 85%
5 Years:: 33%
3 Years:: 18%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 51%
3 Years:: 19%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 1%
3 Years:: 8%
1 Year:: 31%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 27%
3 Years:: 20%
Last Year:: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1,274	1,377	1,564	1,564	1,564	1,564	1,584	1,584	1,584	1,647
Minority Interest	0	0	-1	-46	-74	0	46	6,806	10,437	9,914
	-71	-223	-724	-801	-703	-374	4,296	5,296	6,791	17,643
	4,347	9,870	12,304	16,558	26,084	55,190	56,540	55,878	78,899	1,02,915
Trade Payables	8	98	161	175	129	145	391	316	395	407
	465	4,340	977	625	1,301	2,080	4,045	18,206	12,659	10,462
Total Liabilities	6,022	15,463	14,282	18,075	28,301	58,605	66,902	88,086	1,10,765	1,42,988
	4,341	9,120	10,388	12,554	16,429	28,452	48,336	62,284	79,914	1,02,138
Capital Work in Progress	267	1,725	743	1,208	4,452	19,899	5,291	6,423	14,479	19,016
	26	87	77	477	502	574	1,149	1,515	2,743	2,983
	0	1,692	136	104	29	17	52	291	101	136
	0	0	0	0	0	0	0	1,342	1,540	2,129
Cash & Bank	187	457	361	695	1,019	1,593	1,984	8,764	3,332	2,766
	1,200	2,382	2,576	3,037	5,870	8,070	10,090	7,467	8,656	13,820
Total Assets	6,022	15,463	14,282	18,075	28,301	58,605	66,902	88,086	1,10,765	1,42,988

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	29	655	1,654	1,983	1,615	3,147	7,254	7,713	8,957	10,135
Cash from Investing	-1,510	-4,428	-2,666	-3,743	-9,225	-19,348	-3,857	-21,060	-19,827	-26,227
Cash from Financing	1,559	3,942	1,045	2,161	7,083	15,986	-2,973	13,953	11,475	15,615
	77	162	3	383	-541	-235	435	606	605	-477

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60.94	60.94	60.94	61.91	62.43	62.43	62.43	62.43
	15.16	13.68	12.45	11.58	11.29	11.42	11.10	11.84
	1.45	1.73	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
	22.46	23.66	24.22	23.64	23.30	21.84	21.91	20.91

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Adani Green Energy Limited has informed the Exchange about Schedule of meet

2026-09-03

Shareholders meeting

2026-09-03 - Adani Green Energy Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on September 03, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-03

Shareholders meeting

2026-09-03 - Adani Green Energy Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on September 03, 2026

2026-09-01

Updates

2026-09-01 - Adani Green Energy Limited has informed the Exchange regarding 'Operationalisation ofProject'.

2026-08-22

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-22 - Adani Green Energy Limited has informed the Exchange about Schedule of meet

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Adani Green Energy Limited has informed the Exchange about Newspaper Publication for Notice of Extra Ordinary General Meeting

2026-08-11

General Updates

2026-08-11 - Adani Green Energy Limited has informed the Exchange about General Updates

2026-08-11

General Updates

2026-08-11 - Adani Green Energy Limited has informed the Exchange about General Updates

2026-08-10

Shareholders meeting

2026-08-10 - Adani Green Energy Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on September 03, 2026

News

Recent coverage and analyst commentary for ADANIGREEN

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Adani Green Energy Ltd.

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Name

ADANIPOWER

209.85

28.39

404689.32

0.00

4866.60

47.24

18901.89

33.97

17.79

42.67

NTPC

333.30

11.64

323189.88

2.70

6896.44

-88.71

50740.96

7.81

8.52

33.23

POWERGRID

269.10

15.74

250279.25

3.34

3598.42

-0.89

11496.72

2.68

9.74

82.97

ADANIGREEN

1282.00

118.37

211167.98

0.00

983.00

19.30

4431.00

16.61

9.90

91.24

ADANIENSOL

1373.75

57.55

168003.37

0.00

12365.60

2194.43

97110.80

1324.06

9.71

31.27

TATAPOWER

365.00

30.19

116629.89

0.68

1400.86

10.98

19051.26

5.63

11.63

21.53

JSWENERGY

525.45

48.97

96340.35

0.38

532.70

-36.27

5207.13

1.24

8.50

55.22

NHPC

76.30

20.19

76643.62

2.11

1178.09

4.15

3808.31

18.50

6.16

61.80

NTPCGREEN

86.90

120.64

73224.80

0.00

304.84

38.26

1106.86

62.72

3.73

91.95

TORNTPOWER

1298.20

28.15

65416.76

1.54

661.85

-10.75

8124.15

2.75

14.37

18.93

NLCINDIA

264.25

11.42

36641.87

1.46

436.33

-48.01

4716.75

23.29

11.27

32.83

ACMESOLAR

401.85

47.07

28405.75

0.05

235.33

79.88

857.50

67.81

9.23

85.63

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

2,162

2,205

2,311

2,562

2,794

2,983

2,340

3,051

3,800

2,824

2,618

3,328

4,431

241

521

645

693

415

788

460

671

758

405

377

620

3,473

Operating Profit

1,921

1,684

1,666

1,869

2,379

2,195

1,880

2,380

3,042

2,419

2,241

2,708

958

OPM %

88.85%

76.37%

72.09%

72.95%

85.15%

73.58%

80.34%

78.01%

80.05%

85.66%

85.60%

81.37%

21.62%

338

353

264

199

271

294

280

189

158

208

117

234

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

Profit before Tax

415

413

207

347

628

442

291

410

939

292

-135

488

1,246

Tax %

34.22%

28.81%

32.85%

23.63%

28.50%

5.88%

-37.46%

28.78%

24.71%

-81.16%

27.41%

11.48%

21.11%

Net Profit

629

515

474

383

824

644

514

983

1.85

2.17

1.42

0.76

2.63

1.56

2.92

1.26

4.26

3.44

-0.38

2.33

5.05

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

502

1,480

2,058

2,549

3,124

5,133

7,776

9,220

11,212

12,928

13,201

647

533

1,099

889

1,623

2,845

1,902

2,335

2,160

4,875

Operating Profit

403

834

1,525

1,450

2,235

3,510

4,931

7,318

8,877

10,768

8,326

OPM %

80.37%

56.31%

74.12%

56.89%

71.54%

68.38%

63.41%

79.37%

79.17%

83.29%

63.07%

144

113

203

546

508

1,175

1,055

1,167

2,613

717

Interest

397

552

1,161

1,309

2,108

2,617

3,439

5,088

5,775

8,425

6,960

Depreciation

333

543

1,062

394

486

849

1,300

1,903

2,498

3,372

3,631

Profit before Tax

-184

-210

-585

-50

193

553

1,426

1,671

2,215

2,001

1,891

Tax %

74.86%

34.59%

19.36%

-22.00%

5.70%

11.57%

31.77%

24.60%

9.66%

0.70%

2.38%

Net Profit

-46

-137

-471

-61

182

489

973

1,260

2,001

1,987

1,846

EPS

-0.67

-0.88

-3.57

-0.74

0.68

2.41

5.41

6.94

9.12

10.03

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,274

1,377

1,564

1,584

1,647

Minority Interest

-1

-46

-74

6,806

10,437

9,914

-71

-223

-724

-801

-703

-374

4,296

5,296

6,791

17,643

4,347

9,870

12,304

16,558

26,084

55,190

56,540

55,878

78,899

1,02,915

Trade Payables

161

175

129

145

391

316

395

407

465

4,340

977

625

1,301

2,080

4,045

18,206

12,659

10,462

Total Liabilities

6,022

15,463

14,282

18,075

28,301

58,605

66,902

88,086

1,10,765

1,42,988

4,341

9,120

10,388

12,554

16,429

28,452

48,336

62,284

79,914

1,02,138

Capital Work in Progress

267

1,725

743

1,208

4,452

19,899

5,291

6,423

14,479

19,016

477

502

574

1,149

1,515

2,743

2,983

1,692

136

104

291

101

136

1,342

1,540

2,129

Cash & Bank

187

457

361

695

1,019

1,593

1,984

8,764

3,332

2,766

1,200

2,382

2,576

3,037

5,870

8,070

10,090

7,467

8,656

13,820

Total Assets

6,022

15,463

14,282

18,075

28,301

58,605

66,902

88,086

1,10,765

1,42,988

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

655

1,654

1,983

1,615

3,147

7,254

7,713

8,957

10,135

Cash from Investing

-1,510

-4,428

-2,666

-3,743

-9,225

-19,348

-3,857

-21,060

-19,827

-26,227

Cash from Financing

1,559

3,942

1,045

2,161

7,083

15,986

-2,973

13,953

11,475

15,615

162

383

-541

-235

435

606

605

-477

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

60.94

61.91

62.43

15.16

13.68

12.45

11.58

11.29

11.42

11.10

11.84

1.45

1.73

2.40

2.86

2.98

4.31

4.56

4.82

Government

0.00

22.46

23.66

24.22

23.64

23.30

21.84

21.91

20.91

Adani Green Energy Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Adani Green Energy Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI