Company Profile

Adani Green Energy has reported results for fourth quarter (Q4) and year ended March 31, 2024.

The company has reported net loss at Rs 195 crore for the quarter under review as compared to net loss of Rs 240 crore for the same quarter in the previous year. However, total income of the company reported over 4- fold jump at Rs 7505 crore for Q4FY24 as compared Rs 1766 crore for the corresponding quarter previous year.

On consolidated basis, the company has reported 38.86% fall in its net profit at Rs 310 crore for fourth quarter ended March 31, 2024 as compared to Rs 507 crore for the same quarter in the previous year. Total income of the company decreased by 5.74% at Rs 2806 crore for Q4FY24 as compared Rs 2977 crore for the corresponding quarter previous year. 

For the year ended March 31, 2024, the company has reported net loss at Rs 546 crore as compared to net loss of Rs 328 crore for the previous year.  However, total income of the company increased by 53.06% at Rs 12871 crore for year under review as compared to Rs 8409 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the company has reported 29.49% rise in its net profit at Rs 1260 crore as compared to Rs 973 crore for the previous year. Total income of the company increased by 21.38% at Rs 10460 crore for year under review as compared to Rs 8617 crore for year ended March 31, 2023.

Adani Green Energy (AGEL) has secured $400 million for financing its under-construction 750 MW solar projects in Rajasthan and Gujarat by a consortium of five leading international banks. It will provide financing for projects that are expected to come online from November 2024 onwards. 

One of the projects is being developed in Rajasthan with 500 MW capacity and has a long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI). The second one, with 250 MW capacity, is a standalone merchant power project being implemented at the world’s largest RE cluster at Khavda in Gujarat. With confidence in the evolving merchant energy market, AGEL is diversifying revenue streams, along with traditional PPAs, to enhance project revenue and position itself favorable for sustained value creation. Following AGEL’s lead, banks are becoming more comfortable with financing merchant projects with the transaction marking a sentiment shift in the international banking market. 

The $400 million construction facility along with the funding solutions also provides the syndicated guarantee-backed assurance program in sync with AGEL’s procurement strategy. The transaction paves the way for a sustainable debt structure, developed as part of AGEL’s capital management plan, for financing merchant exposure. It marks a milestone for the Indian RE sector as it steers the industry’s transition to the next phase of market integration, with the commitment to deliver the low-cost green electrons through promotion of merchant market projects with right financing structure demonstrating overall trust and competitiveness for the Indian renewable energy sector to drive clean energy transition and decarbonisation. 

Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.

Adani Green Energy is currently trading at Rs. 1798.20, up by 11.00 points or 0.62% from its previous closing of Rs. 1787.20 on the BSE.

The scrip opened at Rs. 1789.10 and has touched a high and low of Rs. 1818.45 and Rs. 1785.00 respectively. So far 22817 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2016.00 on 27-Feb-2024 and a 52 week low of Rs. 816.00 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 1836.40 and Rs. 1760.00 respectively. The current market cap of the company is Rs. 284333.83 crore.

The promoters holding in the company stood at 56.37%, while Institutions and Non-Institutions held 19.70% and 23.93% respectively.

Adani Green Energy (AGEL) has secured $400 million for financing its under-construction 750 MW solar projects in Rajasthan and Gujarat by a consortium of five leading international banks. It will provide financing for projects that are expected to come online from November 2024 onwards. 

One of the projects is being developed in Rajasthan with 500 MW capacity and has a long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI). The second one, with 250 MW capacity, is a standalone merchant power project being implemented at the world’s largest RE cluster at Khavda in Gujarat. With confidence in the evolving merchant energy market, AGEL is diversifying revenue streams, along with traditional PPAs, to enhance project revenue and position itself favorable for sustained value creation. Following AGEL’s lead, banks are becoming more comfortable with financing merchant projects with the transaction marking a sentiment shift in the international banking market. 

The $400 million construction facility along with the funding solutions also provides the syndicated guarantee-backed assurance program in sync with AGEL’s procurement strategy. The transaction paves the way for a sustainable debt structure, developed as part of AGEL’s capital management plan, for financing merchant exposure. It marks a milestone for the Indian RE sector as it steers the industry’s transition to the next phase of market integration, with the commitment to deliver the low-cost green electrons through promotion of merchant market projects with right financing structure demonstrating overall trust and competitiveness for the Indian renewable energy sector to drive clean energy transition and decarbonisation. 

Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Adani Green Energy has informed that provisional operational update of the Company for the FY 2023-24 is attached.

Adani Green Energy (AGEL) has surpassed 10,000 megawatts (MW) of operational portfolio, delivering reliable, affordable, and clean power to the national grid. AGEL’s operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity. The milestone is a testament to AGEL and its development partners firmly moving towards the goal of 45,000 GW renewable energy by 2030.

AGEL’s 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually. AGEL is setting a precedent for how innovative technology, execution capabilities, digitization, a robust supply chain network, and long-term infrastructure financing, combined with sustainable practices, can drive the clean energy transition and decarbonization on a giga scale.

Adani Green Energy builds, owns and operates power plants powered by renewable sources of energy like solar and wind.