Adani Green Energy Ltd

ADANIGREEN

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Market Cap

₹ 1,72,492 Cr

P/E

76.72

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Performance

UNDER PERFORMER

Valuation

OVERVALUED

Growth

EXCEPTIONAL

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

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Price

PE Ratio

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Overview

Detailed Summary

Adani Green Energy Limited is a leading renewable energy company focusing on solar and wind power projects with a substantial and growing portfolio of 21,953 MW.

The company increased its renewable energy capacity by 49% year-on-year to 16.7 gigawatts, highlighting its robustness in project execution.

Adani Green Energy is advancing a significant renewable plant in Khavda, Gujarat, underscoring its strategic expansion in solar and wind energy projects.

In H1 FY26, Adani Green Energy reported an impressive 39% year-on-year rise in energy sales, aided by new capacity additions and operational excellence.

The firm maintains world-leading financial metrics with an EBITDA margin at 92%, showcasing efficient operations and a strong financial foundation.

Sector

Power Generation & Distribution

Industry

Power Generation And Supply

Market Cap

1,72,492 Cr

Volatility

High Risk

P/E Ratio

76.7

Industry P/E

23.6

PEG Ratio

2.0

P/B Ratio

8.8

52W High

1,210.00

52W Low

758.00

Sales CAGR

21.61%

29.75%

34.49%

10Y

—

Profit CAGR

58.81%

59.95%

—

10Y

—

ROE

TTM

11.51%

7.43%

8.09%

10Y

6.11%

ROCE

TTM

7.33%

8.70%

8.41%

10Y

7.85%

Technicals

‌

Forecasts

No. of Analysts

14

1Y Price Target

1279.08 ▲ 24.39%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
POWERGRID	262.30	2,43,955 Cr	16.05	2.47	3.43	15.37	11.01	5.46
ADANIGREEN	1043.50	1,72,492 Cr	76.72	8.83	0.00	11.51	7.33	1.53
ADANIENSOL	1016.00	1,22,050 Cr	54.13	5.22	0.00	9.64	8.99	2.95
TATAPOWER	381.60	1,21,934 Cr	30.19	3.24	0.59	10.75	9.31	3.05
ENRIN	2946.75	1,04,940 Cr	95.39	23.95	0.14	25.11	31.50	11.53
JSWENERGY	486.30	84,994 Cr	41.99	2.92	0.41	6.95	6.52	1.96
NHPC	77.24	77,588 Cr	24.44	1.88	2.47	7.69	6.46	3.23

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	2,162	2,220	2,311	2,527	2,835	3,055	2,365	3,073	3,800	3,008
Expenses	81	521	645	676	392	850	764	671	758	405
Operating Profit	2,081	1,699	1,666	1,851	2,443	2,205	1,601	2,402	3,042	2,603
OPM %	96.25	76.53	72.09	73.25	86.17	72.18	67.70	78.16	80.05	86.54
Other Income	178	353	264	199	219	224	249	39	189	158
Interest	1,393	1,165	1,242	1,206	1,440	1,369	944	1,368	1,525	1,635
Depreciation	451	474	481	497	593	618	615	663	767	834
Profit Before Tax	415	413	207	347	629	442	291	410	939	292
Tax %	34.22	28.81	32.85	23.63	28.62	5.88	-37.46	28.78	24.71	-81.16
Net Profit	273	294	139	265	449	416	400	292	707	529
EPS in Rs	1.78	2.09	1.37	0.73	2.53	1.48	2.81	1.21	4.20	3.44

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Dec 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	502	1,480	2,058	2,549	3,124	5,133	7,776	9,220	11,212	12,293
Expenses	98	647	533	1,098	889	1,623	2,845	1,923	2,335	3,043
Operating Profit	403	834	1,525	1,450	2,235	3,510	4,931	7,297	8,877	9,250
OPM %	80.37	56.31	74.12	56.90	71.54	68.38	63.41	79.14	79.17	75.25
Other Income	80	51	73	-111	397	509	706	1,283	1,328	701
Interest	334	552	1,121	995	1,953	2,617	2,911	5,006	5,492	5,206
Depreciation	333	543	1,062	394	486	849	1,300	1,903	2,498	2,663
Profit Before Tax	-184	-210	-585	-50	193	553	1,426	1,671	2,215	2,082
Tax %	74.86	34.59	19.36	-22.83	5.70	11.57	31.77	24.60	9.66	12.82
Net Profit	-46	-137	-471	-61	182	489	973	1,260	2,001	1,815
EPS in Rs	—	-0.69	-3.38	-0.70	0.65	2.30	5.20	5.96	8.03	11.66
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Dec 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1,274	1,274	1,564	1,564	1,564	1,564	1,564	1,584	1,584	1,584
Reserves	-71	-71	-223	369	793	636	1,050	5,720	8,250	10,553
Borrowings	4,298	4,298	9,724	10,690	14,080	24,209	52,832	54,223	64,858	80,040
Other Liabilities	659	659	4,643	2,034	1,989	2,312	3,721	5,834	13,846	19,221
Total Liabilities	6,160	6,160	15,709	14,658	18,425	28,721	59,167	67,361	88,538	1,11,398
Fixed Assets	4,341	4,341	9,120	10,388	12,554	16,429	28,452	48,336	62,284	79,914
CWIP	267	267	1,725	743	1,208	4,452	19,899	5,291	6,427	14,480
Investments	26	26	87	77	476	502	574	1,149	1,515	2,743
Other Assets	1,525	1,525	4,777	3,450	4,187	7,338	10,242	12,585	18,312	14,261
Total Assets	6,160	6,160	15,709	14,658	18,425	28,721	59,167	67,361	88,538	1,11,398

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Dec 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	28	28	649	1,625	1,965	—	—	7,265	7,713	8,364
Cash from Investing Activity	-1,511	-1,511	-4,428	-2,666	-3,743	0.00	0.00	-3,857	-21,060	-19,828
Cash from Financing Activity	1,559	1,559	3,942	1,045	2,161	—	—	-2,973	13,953	12,068
Net Cash Flow	76	76	162	3.48	383	0.00	0.00	435	606	604

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	60.75%	57.26%	56.27%	56.26%	56.37%	56.37%	57.52%	60.94%	60.94%	60.94%	61.91%	62.43%
FIIs	15.14%	17.13%	18.26%	18.16%	18.03%	18.15%	16.91%	15.15%	13.68%	12.45%	11.58%	11.29%
DIIs	1.40%	1.44%	1.47%	1.49%	1.50%	1.55%	1.47%	1.45%	1.72%	2.40%	2.86%	2.98%
Public	22.71%	24.16%	24.00%	24.08%	24.10%	23.93%	24.11%	22.46%	23.66%	24.22%	23.64%	23.30%
Total Shareholders	3,93,167	7,46,294	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

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 10, 2025	Quant mutual fund	Bulk	Buy	970.00	1,200.00 Cr	1,23,71,134	0.75
Dec 10, 2025	Totalenergies renewables indi...	Bulk	Sell	970.00	2,778.09 Cr	2,86,40,138	1.73
Dec 10, 2025	Amity holdings private limited	Block	Buy	970.00	299.00 Cr	30,82,500	0.18
Dec 10, 2025	Parshva trading	Block	Buy	970.00	34.94 Cr	3,60,200	0.02
Dec 10, 2025	Cohesion mk best ideas sub-trust	Block	Buy	970.00	125.03 Cr	12,89,000	0.07
Dec 10, 2025	Four dimensions securities (i...	Block	Buy	970.00	150.00 Cr	15,46,400	0.09
Dec 10, 2025	Geecee ventures limited	Block	Buy	970.00	25.01 Cr	2,57,800	0.01
Dec 10, 2025	Paresh mohanlal parekh	Block	Buy	970.00	62.47 Cr	6,44,000	0.03
Dec 10, 2025	Sanatan financial advisory se...	Block	Buy	970.00	175.09 Cr	18,05,000	0.10
Dec 10, 2025	Shruti gagan chaturvedi	Block	Buy	970.00	25.03 Cr	2,58,000	0.01

Projection

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Actions

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

4 days ago

TotalEnergies Discloses Share Sale Under SEBI Regulations

TotalEnergies Renewables Indian Ocean Ltd reports the sale of 28,640,138 equity shares of Adani Green Energy Limited as per SEBI (SAST) Regulations 2011.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Showing 1 - 8 of 35

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	2,162	2,220	2,311	2,527	2,835	3,055	2,365	3,073	3,800	3,008
Expenses	81	521	645	676	392	850	764	671	758	405
Operating Profit	2,081	1,699	1,666	1,851	2,443	2,205	1,601	2,402	3,042	2,603
OPM %	96.25	76.53	72.09	73.25	86.17	72.18	67.70	78.16	80.05	86.54
Other Income	178	353	264	199	219	224	249	39	189	158
Interest	1,393	1,165	1,242	1,206	1,440	1,369	944	1,368	1,525	1,635
Depreciation	451	474	481	497	593	618	615	663	767	834
Profit Before Tax	415	413	207	347	629	442	291	410	939	292
Tax %	34.22	28.81	32.85	23.63	28.62	5.88	-37.46	28.78	24.71	-81.16
Net Profit	273	294	139	265	449	416	400	292	707	529
EPS in Rs	1.78	2.09	1.37	0.73	2.53	1.48	2.81	1.21	4.20	3.44

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Dec 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	502	1,480	2,058	2,549	3,124	5,133	7,776	9,220	11,212	12,293
Expenses	98	647	533	1,098	889	1,623	2,845	1,923	2,335	3,043
Operating Profit	403	834	1,525	1,450	2,235	3,510	4,931	7,297	8,877	9,250
OPM %	80.37	56.31	74.12	56.90	71.54	68.38	63.41	79.14	79.17	75.25
Other Income	80	51	73	-111	397	509	706	1,283	1,328	701
Interest	334	552	1,121	995	1,953	2,617	2,911	5,006	5,492	5,206
Depreciation	333	543	1,062	394	486	849	1,300	1,903	2,498	2,663
Profit Before Tax	-184	-210	-585	-50	193	553	1,426	1,671	2,215	2,082
Tax %	74.86	34.59	19.36	-22.83	5.70	11.57	31.77	24.60	9.66	12.82
Net Profit	-46	-137	-471	-61	182	489	973	1,260	2,001	1,815
EPS in Rs	—	-0.69	-3.38	-0.70	0.65	2.30	5.20	5.96	8.03	11.66
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Dec 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1,274	1,274	1,564	1,564	1,564	1,564	1,564	1,584	1,584	1,584
Reserves	-71	-71	-223	369	793	636	1,050	5,720	8,250	10,553
Borrowings	4,298	4,298	9,724	10,690	14,080	24,209	52,832	54,223	64,858	80,040
Other Liabilities	659	659	4,643	2,034	1,989	2,312	3,721	5,834	13,846	19,221
Total Liabilities	6,160	6,160	15,709	14,658	18,425	28,721	59,167	67,361	88,538	1,11,398
Fixed Assets	4,341	4,341	9,120	10,388	12,554	16,429	28,452	48,336	62,284	79,914
CWIP	267	267	1,725	743	1,208	4,452	19,899	5,291	6,427	14,480
Investments	26	26	87	77	476	502	574	1,149	1,515	2,743
Other Assets	1,525	1,525	4,777	3,450	4,187	7,338	10,242	12,585	18,312	14,261
Total Assets	6,160	6,160	15,709	14,658	18,425	28,721	59,167	67,361	88,538	1,11,398

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Dec 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	28	28	649	1,625	1,965	—	—	7,265	7,713	8,364
Cash from Investing Activity	-1,511	-1,511	-4,428	-2,666	-3,743	0.00	0.00	-3,857	-21,060	-19,828
Cash from Financing Activity	1,559	1,559	3,942	1,045	2,161	—	—	-2,973	13,953	12,068
Net Cash Flow	76	76	162	3.48	383	0.00	0.00	435	606	604

Overview

Detailed Summary

Adani Green Energy Limited is a leading renewable energy company focusing on solar and wind power projects with a substantial and growing portfolio of 21,953 MW.

The company increased its renewable energy capacity by 49% year-on-year to 16.7 gigawatts, highlighting its robustness in project execution.

Adani Green Energy is advancing a significant renewable plant in Khavda, Gujarat, underscoring its strategic expansion in solar and wind energy projects.

In H1 FY26, Adani Green Energy reported an impressive 39% year-on-year rise in energy sales, aided by new capacity additions and operational excellence.

The firm maintains world-leading financial metrics with an EBITDA margin at 92%, showcasing efficient operations and a strong financial foundation.

Sector

Power Generation & Distribution

Industry

Power Generation And Supply

Market Cap

1,72,492 Cr

Volatility

High Risk

P/E Ratio

76.7

Industry P/E

23.6

PEG Ratio

2.0

P/B Ratio

8.8

52W High

1,210.00

52W Low

758.00

Sales CAGR

21.61%

29.75%

34.49%

10Y

—

Profit CAGR

58.81%

59.95%

—

10Y

—

ROE

TTM

11.51%

7.43%

8.09%

10Y

6.11%

ROCE

TTM

7.33%

8.70%

8.41%

10Y

7.85%

Adanigreen

Adani Green Energy Ltd

ADANIGREEN

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1279.08 ▲ 24.39%

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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Adani Green Energy Ltd

ADANIGREEN

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Financial Statements

AI Powered Summary

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Peers

Price Chart Comparison

Oscillators

Neutral

Overall

Bearish

Moving Averages

Bearish

Overall

Bearish

Announcements

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High