Adani Green Energy Limited (IN:ADANIGREEN)
:ADANIGREEN
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Adani Green Energy Limited
(ADANIGREEN)
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Rating:59Neutral
Price Target:
₹892.00
▼(-14.13% Downside)
Action:ReiteratedDate:02/04/26
The score is primarily supported by strong financial growth and profitability, but is held back by high leverage and negative free cash flow, with technical indicators showing weak momentum and valuation looking expensive due to the very high P/E.
Positive Factors
Revenue growth & high gross margins
Sustained top-line expansion and an ~87% gross margin indicate the business is scaling while preserving core project economics. This underpins durable cash generation from generation assets and supports reinvestment or debt servicing as capacity comes online over the medium term.
Negative Factors
High leverage
Very high leverage and a low equity ratio constrain financial flexibility and elevate refinancing and interest-rate risk. Persistent reliance on debt to fund growth can amplify stress if cash flows or funding conditions deteriorate, making capital structure a structural vulnerability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & high gross margins
Sustained top-line expansion and an ~87% gross margin indicate the business is scaling while preserving core project economics. This underpins durable cash generation from generation assets and supports reinvestment or debt servicing as capacity comes online over the medium term.
Read all positive factors
Adani Green Energy Limited (ADANIGREEN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.37T
Dividend YieldN/A
Average Volume (3M)469.76K
Price to Earnings (P/E)―
Beta (1Y)1.60
Revenue Growth14.16%
EPS Growth75.34%
CountryIN
Employees1,597
SectorEnergy
Sector Strength52
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.20
Shares Outstanding1,647,176,100
10 Day Avg. Volume144,487
30 Day Avg. Volume469,764
Financial Highlights & Ratios
PEG Ratio3.14
Price to Book (P/B)13.07
Price to Sales (P/S)13.97
P/FCF Ratio-9.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)13.47
Revenue Forecast (FY)₹138.65B
Adani Green Energy Limited Business Overview & Revenue Model
Company Description
Adani Green Energy Limited generates and supplies renewable energy to central and state government entities, and government backed corporations in India. The company builds, owns, and operates power plants through renewable sources, such as solar,...
How the Company Makes Money
Adani Green Energy Limited primarily makes money by generating electricity from its renewable energy plants (mainly solar and wind) and selling that power to customers under long-term contracts. Its core revenue stream is the sale of energy under ...
Adani Green Energy Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 122.70B | 113.51B | 92.44B | 77.91B | 51.43B | 31.29B |
| Gross Profit | 100.08B | 96.31B | 77.88B | 58.42B | 37.18B | 24.16B |
| EBITDA | 97.58B | 89.56B | 72.75B | 54.36B | 34.94B | 22.44B |
| Net Income | 20.18B | 14.44B | 11.00B | 9.74B | 4.89B | 2.10B |
Balance Sheet | ||||||
| Total Assets | 1.26T | 1.11T | 885.38B | 673.61B | 591.67B | 287.21B |
| Cash, Cash Equivalents and Short-Term Investments | 60.65B | 45.87B | 41.44B | 26.45B | 14.83B | 6.70B |
| Total Debt | 888.28B | 800.40B | 648.58B | 542.23B | 528.32B | 242.09B |
| Total Liabilities | 967.93B | 888.25B | 710.90B | 600.11B | 565.53B | 265.95B |
| Stockholders Equity | 188.49B | 121.37B | 98.34B | 73.04B | 26.14B | 22.00B |
Cash Flow | ||||||
| Free Cash Flow | -79.21B | -164.12B | -80.60B | 38.89B | -117.32B | -45.42B |
| Operating Cash Flow | 43.76B | 83.64B | 77.13B | 72.65B | 30.60B | 16.01B |
| Investing Cash Flow | -125.93B | -198.27B | -210.60B | -38.57B | -192.81B | -91.37B |
| Financing Cash Flow | 88.60B | 120.68B | 139.53B | -29.73B | 159.86B | 70.83B |
Adani Green Energy Limited Technical Analysis
Negative
1038.80
Price Trends
908.93
Negative
972.40
Negative
986.89
Negative
Market Momentum
-24.85
Positive
42.89
Neutral
31.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADANIGREEN, the sentiment is Negative. The current price of 1038.8 is above the 20-day moving average (MA) of 876.97, above the 50-day MA of 908.93, and above the 200-day MA of 986.89, indicating a bearish trend. The MACD of -24.85 indicates Positive momentum. The RSI at 42.89 is Neutral, neither overbought nor oversold. The STOCH value of 31.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ADANIGREEN.
Adani Green Energy Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | ₹851.67B | 50.05 | ― | 0.41% | 39.71% | 1.33% | |
60 Neutral | ₹559.56B | 40.55 | ― | ― | 74.67% | 229.31% | |
59 Neutral | ₹1.37T | -1,019.54 | ― | ― | 14.16% | 75.34% | |
43 Neutral | ₹36.93B | -446.21 | ― | ― | 112.24% | -474.43% |
* Energy Sector Average
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Adani Green Energy Limited Corporate Events
Adani Green Energizes 510 MW at Khavda, Nears 18 GW Capacity
Mar 23, 2026
Adani Green Energy Limited has brought 510.1 MW of new renewable power projects into operation at Khavda in Gujarat through several stepdown subsidiaries, spanning solar, wind, and hybrid configurations. This expansion includes multiple special pu...
Adani Green Reiterates It Is Not Involved in U.S. SEC Case Against Adani Group Promoters
Jan 31, 2026
Adani Green Energy Limited has clarified that a recent procedural order issued by a U.S. court in connection with the U.S. Securities and Exchange Commission’s civil case against Gautam Adani and Sagar Adani does not involve the company itse...
Adani Green Reiterates It Is Not Party to US SEC Case Against Its Directors
Jan 30, 2026
Adani Green Energy Limited has clarified that it is not a party to a civil case filed by the U.S. Securities and Exchange Commission in the Eastern District of New York against its directors Gautam Adani and Sagar Adani, and that no charges have b...
Adani Group Wins Landmark Japanese Credit Ratings from JCR
Jan 30, 2026
Japan Credit Rating Agency has initiated long-term foreign currency credit ratings on three key Adani Group entities, assigning Adani Green Energy Limited and Adani Energy Solutions Limited a BBB+ rating with a stable outlook, in line with India&#...
Adani Green Energy Plans US Investor Roadshow and Conference Meetings in February 2026
Jan 28, 2026
Adani Green Energy Limited has notified the stock exchanges that it will hold a series of interactions with investors and analysts in the United States in early February 2026. The company plans a non-deal roadshow across 2–6 February 2026 an...
Adani Green Energy Adds 50 MW Khavda Solar Plant, Lifts Capacity to 17,287 MW
Jan 25, 2026
Adani Green Energy Limited announced that its wholly owned step-down subsidiary, Adani Green Energy Twenty Six A Limited, has operationalized a 50 MW solar power project at Khavda in Gujarat. With the commissioning of this plant, the company’...
Adani Green Reiterates It Is Not Party to SEC-Linked Civil Proceedings
Jan 24, 2026
Adani Green Energy Limited has issued an update clarifying the status of civil proceedings involving U.S. Securities and Exchange Commission (SEC) actions related to Gautam Adani and Sagar Adani. The company states that counsel for the two individ...
Adani Green Says SEC Civil Case Against Directors Has No Impact on Its Operations
Jan 23, 2026
Adani Green Energy Limited has clarified that it is not a party to the civil proceedings initiated by the U.S. Securities and Exchange Commission in the Eastern District of New York against its directors Gautam Adani and Sagar Adani, which were th...
Adani Green Says SEC Civil Case Against Directors Has No Impact on Its Operations
Jan 23, 2026
Adani Green Energy Limited has clarified to Indian stock exchanges that a recent media report on a United States Securities and Exchange Commission civil case relates to proceedings against two of its directors, Gautam Adani and Sagar Adani, and n...
Adani Green Files SEBI Regulation 74(5) Demat Compliance Certificate for December Quarter
Jan 5, 2026
Adani Green Energy Limited has submitted to BSE and NSE a confirmation certificate from its registrar and share transfer agent, MUFG Intime India Private Limited, under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018...
Adani Green Brings 307 MW Khavda Projects Online, Lifts Capacity to 17.2 GW
Dec 31, 2025
Adani Green Energy Limited has operationalized 307.4 MW of new renewable power projects at Khavda, Gujarat, through several stepdown subsidiaries spanning solar, wind and hybrid configurations. With these plants commissioned and set to begin power...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.