Adani Green Energy Limited (IN:ADANIGREEN)
:ADANIGREEN
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Adani Green Energy Limited
(ADANIGREEN)
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Rating:57Neutral
Price Target:
₹1,278.00
▲(23.03% Upside)
Action:ReiteratedDate:04/25/26
The score is held back primarily by high leverage and negative free cash flow despite improving operating cash flow. Technicals are strong but appear overextended, while valuation is expensive (high P/E) with no dividend support.
Positive Factors
Scaled revenue and rising net income
Material multi-year revenue scaling with positive, rising net income demonstrates the company has moved beyond early-stage growth and into a larger, maturing operating base. That scale supports bargaining power with suppliers, spreads fixed costs across more output and underpins longer-term reinvestment capacity.
Negative Factors
High and rising leverage
Very high and rising debt levels materially elevate refinancing, interest-rate and covenant risk. With debt rising year-on-year, capital structure flexibility is constrained; adverse rate cycles or funding stress could force costly refinancing, asset sales or dilution to maintain growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Scaled revenue and rising net income
Material multi-year revenue scaling with positive, rising net income demonstrates the company has moved beyond early-stage growth and into a larger, maturing operating base. That scale supports bargaining power with suppliers, spreads fixed costs across more output and underpins longer-term reinvestment capacity.
Read all positive factors
Adani Green Energy Limited (ADANIGREEN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.03T
Dividend YieldN/A
Average Volume (3M)469.76K
Price to Earnings (P/E)91.4
Beta (1Y)1.79
Revenue Growth14.13%
EPS Growth9.79%
CountryIN
Employees1,597
SectorEnergy
Sector Strength52
IndustryRenewable Utilities
Share Statistics
EPS (TTM)1.60
Shares Outstanding1,647,176,100
10 Day Avg. Volume144,487
30 Day Avg. Volume469,764
Financial Highlights & Ratios
PEG Ratio5.83
Price to Book (P/B)7.31
Price to Sales (P/S)11.28
P/FCF Ratio-9.14
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)21.03
Revenue Forecast (FY)₹180.38B
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
76
Positive
Balance Sheet
42
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 122.70B | 129.28B | 113.51B | 92.44B | 77.91B | 51.43B |
| Gross Profit | 100.08B | 122.20B | 96.31B | 77.88B | 58.42B | 37.18B |
| EBITDA | 97.58B | 114.40B | 89.56B | 72.75B | 54.36B | 34.94B |
| Net Income | 20.18B | 16.52B | 14.44B | 11.00B | 9.74B | 4.89B |
Balance Sheet | ||||||
| Total Assets | 1.26T | 1.44T | 1.11T | 885.38B | 673.61B | 591.67B |
| Cash, Cash Equivalents and Short-Term Investments | 60.65B | 67.34B | 45.87B | 41.44B | 26.45B | 14.83B |
| Total Debt | 888.28B | 1.01T | 800.40B | 648.58B | 542.23B | 528.32B |
| Total Liabilities | 967.93B | 1.14T | 888.25B | 710.90B | 600.11B | 565.53B |
| Stockholders Equity | 188.49B | 199.65B | 121.37B | 98.34B | 73.04B | 26.14B |
Cash Flow | ||||||
| Free Cash Flow | -79.21B | -159.62B | -164.12B | -80.60B | 38.89B | -117.32B |
| Operating Cash Flow | 43.76B | 101.35B | 83.64B | 77.13B | 72.65B | 30.60B |
| Investing Cash Flow | -125.93B | -262.27B | -198.27B | -210.60B | -38.57B | -192.81B |
| Financing Cash Flow | 88.60B | 156.15B | 120.68B | 139.53B | -29.73B | 159.86B |
Adani Green Energy Limited Technical Analysis
Positive
1038.80
Price Trends
935.86
Positive
959.58
Positive
986.11
Positive
Market Momentum
57.66
Negative
76.69
Negative
93.88
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADANIGREEN, the sentiment is Positive. The current price of 1038.8 is above the 20-day moving average (MA) of 938.24, above the 50-day MA of 935.86, and above the 200-day MA of 986.11, indicating a bullish trend. The MACD of 57.66 indicates Negative momentum. The RSI at 76.69 is Negative, neither overbought nor oversold. The STOCH value of 93.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | ₹957.90B | 50.05 | ― | 0.41% | 55.52% | 18.59% | |
64 Neutral | ₹739.12B | 40.55 | ― | ― | 61.67% | 181.53% | |
57 Neutral | ₹2.03T | 91.41 | ― | ― | 14.13% | 9.79% | |
47 Neutral | ₹49.89B | -11.24 | ― | ― | 19.77% | -479.97% |
* Energy Sector Average
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Adani Green Energy Limited Corporate Events
Adani Green Energy Activates 292 MW Khavda Solar Project, Lifts Operational Capacity
Apr 22, 2026
Adani Green Energy Limited’s wholly owned step-down subsidiary, Adani Green Energy Twenty Six A Limited, has operationalised a 292 MW solar power project at Khavda in Gujarat, with power generation commencing from April 23, 2026. With this c...
Adani Green Says It Faces No Charges as SEC Case Against Directors Seeks New Timeline
Apr 18, 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 against its directors Gautam Adani and Sagar Adani in the U.S. District Court for the Eastern District of New York...
Adani Green Energy Receives 87.3 ESG Rating from Care ESG Ratings
Apr 11, 2026
Adani Green Energy Limited has disclosed that Care ESG Ratings Limited has assigned the company an ESG score of 87.3, reflecting an external assessment of its performance on environmental, social, and governance parameters. The rating disclosure u...
Adani Green Adds 360.5 MW Renewables, 1,376 MWh Storage to India Portfolio
Apr 1, 2026
Adani Green Energy Limited has commercially operationalized 360.5 MW of new renewable energy projects across Bandha in Rajasthan and Khavda in Gujarat, alongside 1,376 MWh of battery energy storage systems at Khavda. With these additions becoming ...
Adani Green Sets Global Greenfield Record With 5 GW Boost in FY26
Apr 1, 2026
Adani Green Energy Limited has achieved a record annual greenfield capacity addition of over 5 GW in FY26, taking its operational renewable portfolio to 19.3 GW and marking the highest such expansion globally outside China. The build-out, spanning...
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’...
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.