Adani Green Energy Limited has informed the Exchange about Transcript
ADANIGREEN · price
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Adani Green Energy reported a strong H1 FY26 with energy sales up 39% YoY at 19.6 billion units and operating renewable capacity rising 49% YoY to 16.7 GW after adding 2.4 GW in the half (74% of full FY25 additions). Revenue from power supply grew 26% to INR 6,088 crores, EBITDA rose 25% to INR 5,651 crores at a best-in-class 92% margin, and cash profits surged 17% to INR 3,094 crores. Management reaffirmed the 5 GW addition target for FY26 and the 50 GW by 2030 goal, with capex guided at INR 30,000–35,000 crores per year over the next 2-3 years. The CFO outlined net debt/run-rate EBITDA at 4.4x (operational) and 5.1x including under-construction, expected to stay at 4-5x for 2-3 years and then fall sharply from FY29 onward. The company has 27 GW in PPAs, 4+ GW in LOAs awaiting conversion, 4.8 GW of pre-COD/infirm power, and its first pumped storage project (Chitravathi, 500 MW) is 57% physically complete at a cost of ~INR 2,600 crores.
Robust capacity additions, industry-leading 92% EBITDA margins, and a clear 50 GW-by-2030 roadmap are positive for the growth story, while sustained leverage of 4-5x and heavy capex may keep near-term return ratios under watch. The expected sharp deleveraging from FY29 onwards, as new capacity starts contributing to EBITDA, is a key long-term positive for shareholders.