Adani Green Energy Limited (ADANIGREEN) AI Stock Analysis

• Market Cap: ₹1.76T
• Dividend Yield: N/A
• Average Volume (3M): 469.76K
• Price to Earnings (P/E): 87.0
• Beta (1Y): 1.94
• Revenue Growth: 14.16%
• EPS Growth: 75.34%
• Country: IN
• Employees: 1,597
• Sector: Energy
• Sector Strength: 52
• Industry: Renewable Utilities
• EPS (TTM): 3.90
• Shares Outstanding: 1,617,068,500
• 10 Day Avg. Volume: 144,487
• 30 Day Avg. Volume: 469,764
• PEG Ratio: 3.14
• Price to Book (P/B): 13.07
• Price to Sales (P/S): 13.97
• P/FCF Ratio: -9.66
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,139.00
• Price Target Upside: 15.03% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: ₹1,040.00 ▲(5.03% Upside)

Adani Green Energy Limited's overall stock score is primarily influenced by its strong financial performance, despite high leverage and negative free cash flow. The technical analysis indicates bearish momentum, which negatively impacts the score. The high P/E ratio suggests overvaluation, further weighing down the overall score.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust market demand and effective business expansion, supporting long-term sustainability and competitiveness.

Gross Profit Margin

High gross profit margins reflect efficient cost management and strong pricing power, enhancing profitability and competitive positioning.

Operating Cash Flow

Consistent positive operating cash flow indicates strong cash generation ability, supporting ongoing operations and strategic investments.

Negative Factors

High Leverage

Significant leverage poses financial stability risks, potentially limiting flexibility and increasing vulnerability to interest rate changes.

Negative Free Cash Flow

Negative free cash flow due to capital investments could lead to liquidity challenges, impacting the ability to fund future growth without additional financing.

EBIT Margin Volatility

Volatility in EBIT margin may indicate challenges in maintaining operational efficiency, affecting profitability and financial predictability.

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, wind, and hybrid. As of March 31, 2022, it operated solar power plants with an operational capacity of 4,763 megawatts (MW); and wind power plants with an operational capacity of 647 MW. The company was incorporated in 2015 and is based in Ahmedabad, India.

How the Company Makes Money

Adani Green Energy Limited generates revenue primarily through the sale of electricity produced from its renewable energy projects, including solar and wind farms. The company enters into Power Purchase Agreements (PPAs) with various state and central government entities, as well as private corporations, ensuring a steady income stream for the electricity generated. Additionally, ADANIGREEN benefits from various government incentives and subsidies aimed at promoting renewable energy in India. The company is also involved in the development of energy storage solutions and green hydrogen projects, which are emerging as potential future revenue streams. Strategic partnerships with technology providers and financial institutions further enhance its operational capabilities and financial stability.

Adani Green Energy Limited Financial Statement Overview

Summary

Adani Green Energy Limited shows strong revenue and income growth with high gross profit margins. However, the high leverage and negative free cash flow due to capital investments present potential risks. The company effectively manages operating cash flows, but reliance on debt financing could pose stability challenges.

Income Statement

Adani Green Energy Limited demonstrates strong revenue growth, with revenues increasing from 25.5 billion in 2020 to 112.1 billion in 2025, highlighting a robust expansion trajectory. The gross profit margin remains consistently high, reaching approximately 87.1% in 2025, indicating strong cost management. The net profit margin improved significantly, rising from 8.3% in 2021 to 12.9% in 2025. However, EBIT margin has shown some volatility, decreasing from 83.3% in 2024 to 56.9% in 2025. Overall, the company shows strong growth and profitability but with some margin fluctuations.

Balance Sheet

The company's balance sheet reflects a high debt-to-equity ratio of 6.6 in 2025, indicating significant leverage. Despite this, return on equity improved from 16.1% in 2024 to 11.9% in 2025, suggesting better efficiency in generating profits from equity. The equity ratio is relatively low at 10.9%, suggesting a heavy reliance on debt financing. While the company is expanding its asset base, the high leverage poses a risk to financial stability.

Cash Flow

The cash flow statement indicates that the operating cash flow has been consistently positive, reaching 83.6 billion in 2025. However, the free cash flow remains negative due to high capital expenditures, recording -164.1 billion in 2025. The operating cash flow to net income ratio is strong, reflecting the company's ability to convert income into cash. Nevertheless, the continuous negative free cash flow due to capital investments suggests potential liquidity challenges, despite strong operating cash generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	123.17B	113.51B	92.44B	77.91B	51.43B	31.29B
Gross Profit	103.95B	96.31B	77.88B	58.42B	37.18B	24.16B
EBITDA	92.57B	89.56B	72.75B	54.36B	34.94B	22.44B
Net Income	17.11B	14.44B	11.00B	9.74B	4.89B	2.10B
Balance Sheet
Total Assets	0.00	1.11T	885.38B	673.61B	591.67B	287.21B
Cash, Cash Equivalents and Short-Term Investments	45.87B	45.87B	41.44B	26.45B	14.83B	6.70B
Total Debt	0.00	800.40B	648.58B	542.23B	528.32B	242.09B
Total Liabilities	-225.73B	888.25B	710.90B	600.11B	565.53B	265.95B
Stockholders Equity	225.73B	121.37B	98.34B	73.04B	26.14B	22.00B
Cash Flow
Free Cash Flow	0.00	-164.12B	-80.60B	38.89B	-117.32B	-45.42B
Operating Cash Flow	0.00	83.64B	77.13B	72.65B	30.60B	16.01B
Investing Cash Flow	0.00	-198.27B	-210.60B	-38.57B	-192.81B	-91.37B
Financing Cash Flow	0.00	120.68B	139.53B	-29.73B	159.86B	70.83B

Adani Green Energy Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 990.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 990.15 is below the 20-day moving average (MA) of 1034.67, below the 50-day MA of 1048.61, and above the 200-day MA of 980.07, indicating a neutral trend. The MACD of -15.16 indicates Positive momentum. The RSI at 37.78 is Neutral, neither overbought nor oversold. The STOCH value of 15.63 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
SUZLON	64 Neutral	₹822.59B	25.88	―	―	74.67%	229.31%
JSWENERGY	63 Neutral	₹922.38B	45.53	―	0.44%	39.71%	1.33%
ADANIGREEN	56 Neutral	₹1.76T	86.97	―	―	14.16%	75.34%
SWANENERGY	53 Neutral	₹142.65B	22.45	―	0.02%	-0.93%	64.17%
SWSOLAR	43 Neutral	₹54.81B	-14.77	―	―	112.24%	-474.43%

Adani Green Energy Limited Corporate Events

Adani Green Energy Boosts ESG Score, Enhancing Sustainability Credentials

Adani Green Energy Limited announced an improvement in its ESG (Environmental, Social, and Governance) score, as assessed by S&P Global, rising from 74/100 in the previous year to 77/100 in 2025. This enhancement in the ESG rating underscores the company’s ongoing commitment to sustainability and may positively influence its reputation and attractiveness to environmentally-conscious investors.

Adani Green Energy’s ESG Rating Improves to 94%

Adani Green Energy Limited has received an updated ESG rating from CSR HUB, which has increased from 90% to 94%. This improvement in the ESG rating reflects positively on the company’s commitment to environmental, social, and governance standards, potentially enhancing its reputation and attractiveness to investors and stakeholders.

Adani Green Energy Expands Renewable Capacity with New Projects

Adani Green Energy Limited has announced the operationalization of 200 MW power projects in Khavda, Gujarat, through its subsidiaries. This development increases the company’s total operational renewable generation capacity to 16,929.8 MW, marking a significant step in its growth strategy and reinforcing its position in the renewable energy market.

Adani Green Energy Unveils New Renewable Projects in Investor Presentation

Adani Green Energy Limited has released an investor presentation detailing its latest developments and projects, including solar-wind hybrid plants in Jaisalmer, Rajasthan, and a renewable energy plant in Khavda, Gujarat. This announcement highlights the company’s ongoing commitment to expanding its renewable energy portfolio, which is crucial for maintaining its competitive position in the industry and meeting the growing demand for sustainable energy solutions.

Adani Green Energy Secures 500 MW Energy Storage Contract

Adani Green Energy Limited announced that its subsidiary, Adani Saur Urja (KA) Limited, has received a Letter of Award from Assam Power Distribution Company Limited for a 500 MW energy storage capacity from a Pumped Hydro Storage plant. This award, secured through competitive bidding, signifies a significant step in expanding Adani Green’s renewable energy portfolio, with a fixed tariff set for 40 years, potentially enhancing its market position and long-term revenue stability.

Adani Green Energy Secures 60 MW Solar-Wind Hybrid Power Agreement

Adani Green Energy Limited has announced that its subsidiaries, Adani Solar Energy Jodhpur Six Limited and Adani Renewable Energy Forty One Limited, have entered into Power Consumption Agreements to supply 60 MW of solar-wind hybrid power to a commercial and industrial customer. This power will be sourced from a 50 MW solar power plant in Baap, Rajasthan, and a 52 MW wind power plant in Khavda, Gujarat. This agreement underscores Adani Green Energy’s strategic focus on expanding its renewable energy footprint and catering to the growing demand for sustainable energy solutions in the commercial and industrial sectors.

Adani Green Energy Schedules Investor Calls to Discuss Financial Performance

Adani Green Energy Limited has scheduled post-results conference calls with investors to discuss its financial performance for the quarter and half-year ending September 30, 2025. These calls, organized by Emkay Global Group and Standard Chartered Bank, aim to engage equity and fixed income investors and analysts, reflecting the company’s commitment to transparency and stakeholder engagement.

Adani Green Energy to Engage with Investors at Nomura Conference

Adani Green Energy Limited has announced its participation in an upcoming investor and analyst interaction at the Nomura Credit Conference on October 17, 2025. This engagement is part of the company’s ongoing efforts to maintain transparency and communication with stakeholders, potentially impacting investor confidence and market perception.

Adani Green Energy Expands Renewable Capacity with New Projects

Adani Green Energy Limited has announced the commissioning of a 50 MW solar power project and a 31.2 MW wind power project in Khavda, Gujarat, through its subsidiary Adani Hybrid Energy Jaisalmer Five Limited. This development increases the company’s total operational renewable generation capacity to 16,679.80 MW, reinforcing its position as a major player in the renewable energy industry.

Adani Green Energy Expands Renewable Capacity with New Projects

Adani Green Energy Limited has announced the operationalization of 87.5 MW of power projects in Khavda, Gujarat, through its subsidiaries. This development increases the company’s total operational renewable generation capacity to 16,078 MW, marking a significant step in its expansion strategy and reinforcing its position in the renewable energy sector.