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Adani Green Energy Ltd.

PowerPower Generation/Distribution

www.adanigreenenergy.com BSE: 541450NSE: ADANIGREEN

₹1,192.50BSE4.50%

23 Oct, 11:48 AM

₹1,192.50

₹2.06L Cr

109.69

9.52

14.36%

₹1,248.75

₹1,190.10

₹1,631.35

₹767.00

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Price Performance

Peer Comparison

Name
ADANI POWER ADANIPOWER	177.60	25.02	3,42,496.18	0.00	4,866.60	47.24%	18,901.89	33.97%	17.79
NTPC LTD NTPC	295.30	10.54	2,86,342.55	2.98	6,896.44	12.90%	50,740.96	7.81%	8.52
POWER GRID POWERGRID	243.50	14.49	2,26,469.70	3.63	3,598.42	-0.89%	11,496.72	2.68%	9.74
Adani Green Energy Ltd. ADANIGREEN	1,192.50	109.69	2,05,567.58	0.00	747.00	15.99%	4,258.00	41.56%	9.90
ADANIENSOL ADANIENSOL	1,222.70	42.65	1,49,530.64	0.00	1,363.92	144.82%	10,075.54	52.76%	9.71
TATA POWER TATAPOWER	342.75	29.24	1,09,520.26	0.71	1,400.86	10.98%	19,051.26	5.63%	11.63
JSW ENERGY JSWENERGY	445.25	43.26	81,635.82	0.43	532.70	-36.27%	5,207.13	1.24%	8.50
NHPC NHPC	70.02	19.13	70,335.33	2.23	1,178.09	4.15%	3,808.31	18.50%	6.16

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	2,794.00	3,005.00	2,340.00	3,073.00	3,800.00	3,008.00	2,618.00	3,502.00	4,431.00	4,258.00
Expenses	415.00	788.00	460.00	671.00	758.00	405.00	377.00	620.00	446.00	461.00
	2,379.00	2,217.00	1,880.00	2,402.00	3,042.00	2,603.00	2,241.00	2,882.00	3,985.00	3,797.00
	85.15%	73.78%	80.34%	78.16%	80.05%	86.54%	85.60%	82.30%	89.93%	89.17%
	271.00	294.00	280.00	39.00	189.00	158.00	208.00	117.00	230.00	262.00
Interest	1,426.00	1,448.00	1,251.00	1,368.00	1,525.00	1,635.00	1,698.00	1,626.00	2,001.00	2,119.00
	596.00	621.00	618.00	663.00	767.00	834.00	886.00	885.00	1,026.00	1,084.00
	808.00	541.00	365.00	501.00	1,056.00	407.00	-32.00	570.00	1,246.00	938.00
	22.15%	4.81%	-29.86%	23.55%	21.97%	-58.23%	115.63%	9.82%	21.11%	20.36%
	446.00	276.00	492.00	230.00	713.00	583.00	-41.00	397.00	845.00	673.00
	2.82	1.74	3.11	1.45	4.39	3.54	-0.25	2.41	5.13	4.09

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
Operating Income	5,133.00	7,776.00	9,220.00	11,212.00	12,928.00
Operating Income (Net)	5,133.00	7,776.00	9,220.00	11,212.00	12,928.00
EXPENDITURE :
Power Generation & Distribution Cost	1,286.00	1,756.00	1,191.00	1,445.00	710.00
Employee Cost	34.00	40.00	77.00	128.00	150.00
Operating Expenses	177.00	266.00	361.00	425.00	564.00
General and Administration Expenses	105.00	133.00	191.00	222.00	576.00
Selling and Distribution Expenses		2.00	11.00	19.00	23.00
Miscellaneous Expenses	21.00	648.00	71.00	96.00	137.00
	1,623.00	2,845.00	1,902.00	2,335.00	2,160.00
Operating Profit (Excl OI)	3,510.00	4,931.00	7,318.00	8,877.00	10,768.00
	444.00	1,369.00	1,301.00	1,493.00	2,832.00
	3,954.00	6,300.00	8,619.00	10,370.00	13,600.00
Interest	2,617.00	3,439.00	5,088.00	5,775.00	8,425.00
PBDT	1,337.00	2,861.00	3,531.00	4,595.00	5,175.00
	849.00	1,300.00	1,903.00	2,498.00	3,372.00
Profit Before Taxation & Exceptional Items	488.00	1,561.00	1,628.00	2,097.00	1,803.00
Exceptional Income / Expenses	64.00	-194.00	-246.00	-326.00	-219.00
	553.00	1,426.00	1,671.00	2,215.00	2,001.00
Provision for Tax	64.00	453.00	411.00	214.00	14.00
	489.00	973.00	1,260.00	2,001.00	1,987.00
Extra items		0.00	0.00	0.00	0.00
Minority Interest		1.00	-160.00	-557.00	-335.00
Consolidated Net Profit	489.00	974.00	1,100.00	1,444.00	1,652.00
Profit Balance B/F	-718.00	-313.00	582.00	1,592.00	3,031.00
Appropriations	-229.00	661.00	1,682.00	3,036.00	4,683.00
	3.13	6.15	6.94	9.12	10.03
Adjusted EPS	3.13	6.15	6.94	9.12	10.03

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	1,564.00	1,584.00	1,584.00	1,584.00	1,647.00
Share Warrants & Outstandings			2,338.00	2,338.00
Total Reserves	-374.00	4,296.00	5,296.00	6,791.00	17,643.00
Reserve excluding Revaluation Reserve	-374.00	4,296.00	5,296.00	6,791.00	17,643.00
	1,190.00	5,880.00	9,218.00	10,713.00	19,290.00
Minority Interest		46.00	6,806.00	10,437.00	9,914.00
Secured Loans	35,639.00	43,196.00	35,999.00	62,633.00	87,642.00
Unsecured Loans	8,502.00	6,860.00	5,928.00	6,154.00	930.00
Deferred Tax Assets / Liabilities	-349.00	-7.00	437.00	496.00	359.00
Other Long Term Liabilities	1,577.00	2,268.00	2,601.00	3,077.00	4,271.00
Long Term Provisions	114.00	216.00	283.00	367.00	432.00
Total Non-Current Liabilities	45,483.00	52,533.00	45,248.00	72,727.00	93,634.00
Trade Payables	145.00	391.00	316.00	395.00	407.00
Other Current Liabilities	3,176.00	5,460.00	20,967.00	9,431.00	9,645.00
Short Term Borrowings	8,184.00	1,988.00	4,946.00	6,880.00	9,892.00
Short Term Provisions	8.00	102.00	159.00	182.00	206.00
Total Current Liabilities	11,513.00	7,941.00	26,388.00	16,888.00	20,150.00
Total Liabilities	58,605.00	66,902.00	88,086.00	1,10,765.00	1,42,988.00
Gross Block	32,105.00	53,261.00	69,064.00	89,190.00	1,14,778.00
Less: Accumulated Depreciation	3,653.00	4,925.00	6,780.00	9,276.00	12,640.00
Net Block	28,452.00	48,336.00	62,284.00	79,914.00	1,02,138.00
Capital Work in Progress	19,899.00	5,291.00	6,423.00	14,479.00	19,016.00
Non Current Investments	73.00	131.00	494.00	939.00	1,356.00
Long Term Investment	73.00	131.00	494.00	939.00	1,356.00
Long Term Loans & Advances	3,122.00	3,724.00	4,066.00	6,064.00	7,523.00
Other Non Current Assets	932.00	1,612.00	952.00	784.00	1,479.00
Total Non-Current Assets	52,478.00	59,094.00	74,223.00	1,02,181.00	1,31,527.00
Currents Investments	501.00	1,018.00	1,021.00	1,804.00	1,627.00
Inventories	17.00	52.00	291.00	101.00	136.00
Sundry Debtors	1,809.00	2,206.00	1,342.00	1,540.00	2,129.00
Cash and Bank	1,593.00	1,984.00	8,764.00	3,332.00	2,766.00
Other Current Assets	455.00	1,384.00	1,060.00	479.00	2,211.00
Short Term Loans and Advances	1,131.00	569.00	828.00	1,328.00	2,592.00
Total Current Assets	5,506.00	7,213.00	13,306.00	8,584.00	11,461.00
Net Current Assets (Including Current Investments)	-6,007.00	-728.00	-13,082.00	-8,304.00	-8,689.00
Total Assets	58,605.00	66,902.00	88,086.00	1,10,765.00	1,42,988.00
Contingent Liabilities	178.00	111.00	98.00	147.00	150.00
Total Debt	53,612.00	54,271.00	64,484.00	79,493.00	1,01,153.00
	7.61	37.12	43.43	52.87	117.12
Adjusted Book Value	7.61	37.12	43.43	52.87	117.12

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	552.00	1,367.00	1,382.00	1,771.00	1,584.00
Adjustment	3,020.00	4,204.00	5,964.00	7,275.00	9,328.00
Changes In working Capital	-425.00	1,683.00	417.00	133.00	-634.00
Cash Flow after changes in Working Capital	3,147.00	7,254.00	7,763.00	9,179.00	10,278.00
Cash Flow from Operating Activities	3,127.00	7,265.00	7,713.00	8,957.00	10,135.00
Cash Flow from Investing Activities	-19,348.00	-3,857.00	-21,060.00	-19,827.00	-26,227.00
Cash Flow from Financing Activitie	15,986.00	-2,973.00	13,953.00	11,475.00	15,615.00
Net Cash Inflow / Outflow	-235.00	435.00	606.00	605.00	-477.00
Opening Cash & Cash Equivalents	184.00	567.00	1,002.00	1,608.00	2,212.00
Cash & Cash Equivalent of Subsidiaries under liquidations	618.00			-1.00
Closing Cash & Cash Equivalent	567.00	1,002.00	1,608.00	2,212.00	1,735.00

Ratios

Valuation

109.69

9.52

22.71

14.28

11.38

131.09

Profitability

14.36

9.90

1.57

83.29

15.37

Leverage & Liquidity

5.24

0.57

1.24

Returns

0.00

0.10

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26	Sep '26
	57.52	60.94	60.94	60.94	61.91	62.43	62.43	62.43	62.43	62.43
	18.38	16.60	15.40	14.85	14.44	14.27	15.73	15.66	16.66	16.62
	24.11	22.46	23.66	24.22	23.64	23.30	21.84	21.91	20.91	20.94
	42.48	39.06	39.06	39.06	38.09	37.57	37.57	37.57	37.57	37.57
No. of Shareholders	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	7,86,178

Mutual Funds Invested(178)

Based on each fund's latest monthly portfolio · Sep 2026

A total of 67 active funds hold 3.38% in Adani Green Energy Ltd., contributing to ₹7.11K Cr of holdings

Fund				As of
QU Quant Small Cap Fund - Growth - Direct PlanSmall cap Fund	929.85	2.61	72,75,840	Sep '26
QU Quant ELSS Tax Saver Fund - Growth - Direct PlanEquity - ELSS - Tax Saver Fund	626.70	4.78	49,03,757	Sep '26
HD HDFC Focused Fund - Growth - Direct PlanEquity - Focused Fund	625.78	2.36	48,96,527	Sep '26
SB SBI Arbitrage Fund - Growth - Direct PlanHybrid - Arbitrage Fund	456.94	0.99	35,75,400	Sep '26
KO Kotak Arbitrage Fund - Growth - Direct PlanHybrid - Arbitrage Fund	433.40	0.58	33,91,200	Sep '26
QU Quant Multi Asset Allocation Fund - Growth - Direct PlanHybrid - Multi Asset Allocation	406.55	6.15	31,81,116	Sep '26
IP ICICI Prudential Arbitrage Fund - Growth - Direct PlanHybrid - Arbitrage Fund	345.83	0.97	27,06,000	Sep '26
QU Quant Large Cap Fund - Growth - Direct PlanLarge Cap Fund	311.00	8.48	24,33,485	Sep '26
QU Quant Multi Cap Fund - Growth - Direct PlanMulti Cap Fund	290.06	3.87	22,69,622	Sep '26
QU Quant Flexi Cap Fund - Growth - Direct PlanFlexi Cap Fund	268.20	3.67	20,98,562	Sep '26

Corporate Actions

Showing: All

Date	Type	Details
2026-10-12	Board Meeting	Quarterly Results
2026-07-01	Board Meeting	Quarterly Results
2026-04-24	AGM	Inter alia, approved:- 1. The Board, on the recommendation of the Nomination and Remuneration Committee and subject to the approval of shareholders, approved reappointment of the Independent Directors as below: a. Mr. Romesh Sobti (DIN: 00031034) as an Independent Director (NonExecutive) of the Company, for a second term, w.e.f. September 20, 2026. b. Mrs. Neera Saggi (DIN: 00501029) as an Independent Director (NonExecutive) of the Company, for a second term, w.e.f. September 07, 2026. c. Dr. Anup Shah (DIN: 00293207) as an Independent Director (Non-Executive) of the Company, for a second term, w.e.f. September 07, 2026. 2. The Board, on the recommendation of the Audit Committee, recommended to the shareholders the appointment/ re-appointment of the Joint Statutory Auditors of the Company as below: a. Appointment of M/s. Shah Dhandharia & Co. LLP, Chartered Accountants (Firm Registration No.: 118707W/W100724) as one of the Joint Statutory Auditors of the Company, to hold office from the conclusion of the 11th Annual General Meeting until the conclusion of the 16th Annual General Meeting of the Company to be held in the year 2031. b. Re-appointment of M/s. S R B C LLP, Chartered Accountants (Firm Registration No.: 324982E/E300003) as one of the Joint Statutory Auditors of the Company, to hold office from the conclusion of the 11th Annual General Meeting until the conclusion of the 16th Annual General Meeting of the Company to be held in the year 2031. 3. Pursuant to Regulation 30 of SEBI (Listing and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ), we wish to inform you that the Board, on recommendation of the Audit Committee, approved the appointment of M/s. T. R. Chadha & Co. LLP, Chartered Accountants as the new Internal Auditor of the Company, in place of Mr. Tejas Shah, who ceases to be the Internal Auditor due to organizational restructuring. 4. The Board, on the recommendation of the Nomination and Remuneration Committee, approved the following changes in the Senior Management Personnel of the Company: a. Mr. Raj Kumar Jain, existing Head Business Development, is to be transitioned to a new role within Adani Group. b. Mr. Lokesh Kumar Jeengar has been appointed as Head - Business Development & Strategy. 4. The Board has also approved the proposal to convene 11th Annual General Meeting ( AGM ) of the Company on Thursday, June 25, 2026 at 10.00 a.m. through Video Conferencing / Other Audio Visual Means in accordance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India. The Notice of the AGM shall be intimated separately.

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)

No insider trading data available.

Sector Overview

PowerPower Generation/Distribution

Adani Green Energy Ltd. operates in the Power sector under the Power Generation/Distribution industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

11 members across the board and senior leadership

Pragnesh S Darji

Company Secretary & Compliance Officer

—

Gautam S Adani

Chairman

—

Rajesh S Adani

Promoter & Non-Executive Director

—

Sagar R Adani

Executive Director

₹9.00 Cr

Mar '26

Vneet S Jaain

Managing Director

₹18.35 Cr

Mar '26

Sangkaran Ratnam

Nominee Director

—

Raminder Singh Gujral