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Adani Green Energy Limited
(ADANIGREEN)
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Rating:45Neutral
Price Target:
₹1,346.00
▲(3.14% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily weighed down by financial profile constraints—very high leverage and largely negative free cash flow despite improving operating cash flow and profitability. Technical indicators also reflect weak momentum (below short-term averages with negative MACD and low RSI). Valuation further pressures the score due to the very high P/E.
Positive Factors
Material revenue scale-up
Consistent multi-year top-line scaling demonstrates successful project execution and portfolio buildout. Larger scale improves contracting credibility, spreads fixed costs across more MWh, and supports continued investment in development and operations, strengthening long-term cash generation potential.
Negative Factors
Very high and rising leverage
Extremely elevated and increasing leverage materially raises refinancing, interest-rate and covenant risks. Heavy debt reduces financial flexibility for greenfield projects or distress absorption, making returns sensitive to funding costs and elevating structural risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Material revenue scale-up
Consistent multi-year top-line scaling demonstrates successful project execution and portfolio buildout. Larger scale improves contracting credibility, spreads fixed costs across more MWh, and supports continued investment in development and operations, strengthening long-term cash generation potential.
Read all positive factors
Adani Green Energy Limited (ADANIGREEN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.14T
Dividend YieldN/A
Average Volume (3M)173.60K
Price to Earnings (P/E)121.1
Beta (1Y)1.79
Revenue Growth10.30%
EPS Growth1.33%
CountryIN
Employees976
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)10.75
Shares Outstanding1,647,176,100
10 Day Avg. Volume116,211
30 Day Avg. Volume173,603
Financial Highlights & Ratios
PEG Ratio5.77
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)15.98
Revenue Forecast (FY)₹181.71B
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 develops, builds, owns, operates, and maintains power plants through renewable sou...
How the Company Makes Money
Adani Green Energy Limited primarily makes money by generating renewable electricity (mainly from solar and wind plants) and selling that electricity to customers under contracted offtake arrangements, typically structured as long-term power purch...
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 | 135.59B | 129.28B | 113.51B | 92.44B | 77.91B | 51.43B |
| Gross Profit | 121.89B | 122.20B | 96.31B | 77.88B | 58.42B | 37.18B |
| EBITDA | 125.47B | 114.40B | 89.56B | 72.75B | 54.36B | 34.94B |
| Net Income | 17.84B | 16.52B | 14.44B | 11.00B | 9.74B | 4.89B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.44T | 1.11T | 885.38B | 673.61B | 591.67B |
| Cash, Cash Equivalents and Short-Term Investments | 40.73B | 67.34B | 45.87B | 41.44B | 26.45B | 14.83B |
| Total Debt | 0.00 | 1.01T | 800.40B | 648.58B | 542.23B | 528.32B |
| Total Liabilities | -298.79B | 1.14T | 888.25B | 710.90B | 600.11B | 565.53B |
| Stockholders Equity | 298.79B | 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
Neutral
1305.00
Price Trends
1405.88
Negative
1390.24
Negative
1174.38
Positive
Market Momentum
-31.88
Negative
44.89
Neutral
59.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADANIGREEN, the sentiment is Neutral. The current price of 1305 is below the 20-day moving average (MA) of 1309.12, below the 50-day MA of 1405.88, and above the 200-day MA of 1174.38, indicating a neutral trend. The MACD of -31.88 indicates Negative momentum. The RSI at 44.89 is Neutral, neither overbought nor oversold. The STOCH value of 59.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ADANIGREEN.
Adani Green Energy Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹60.69B | 13.26 | ― | 0.28% | 40.01% | 27.56% | |
57 Neutral | ₹162.03B | 33.21 | ― | ― | 17.10% | -40.71% | |
56 Neutral | ₹295.54B | 42.80 | ― | 0.09% | 47.52% | 55.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹753.23B | 125.63 | ― | ― | 42.12% | 8.54% | |
45 Neutral | ₹2.14T | 121.05 | ― | ― | 10.30% | 1.33% |
* General Sector Average
IN:ADANIGREEN
Adani Green Energy Limited
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Adani Green Energy Limited Corporate Events
Adani Green Files Provisional Q1 FY27 Operational Update with Exchanges
Jul 10, 2026
Adani Green Energy Limited has issued a provisional operational update for the first quarter of fiscal year 2027, covering performance across its renewable energy portfolio. The update pertains to its solar, wind, and hybrid plants, including key ...
Adani Green Energy Adds 150 MW Solar Capacity at Khavda, Nears 20 GW Portfolio
Jun 28, 2026
Adani Green Energy Limited’s wholly-owned stepdown subsidiary, Adani Renewable Energy Eight Limited, has commissioned a 150 MW solar power project at Khavda in Gujarat. The project was brought online after receiving the necessary clearances,...
Adani Green Adds 1,990 MWh Storage and 50 MW Solar at Khavda
May 26, 2026
Adani Green Energy Limited has brought into commercial operation a 1,990 MWh battery energy storage system and a 50 MW solar power project at Khavda in Gujarat through its stepdown subsidiaries. The commissioning raises the company’s total o...
Adani Green commissions world’s largest single-site battery storage system in Gujarat
May 26, 2026
Adani Green Energy has commissioned a 3.37 GWh battery energy storage system at Khavda in Gujarat, billed as the world’s largest single-location deployment outside China and one of the fastest utility-scale projects of its kind, completed in...
Adani Green Energises 150 MW Khavda Solar Project, Lifting Operational Capacity to 19.7 GW
May 10, 2026
Adani Green Energy Limited has operationalised a new 150 MW solar power project at Khavda in Gujarat through its wholly owned stepdown subsidiary, Adani Green Energy Twenty Five C Limited. The commissioning of this plant increases the company̵...
Adani Green Adds New Step-Down Units to Bolster Renewable Project Platform
May 7, 2026
Adani Green Energy Limited has expanded its corporate structure through subsidiary Adani Renewable Energy Sixty Four Limited, which has incorporated two wholly owned step-down subsidiaries, ARE64L Step-One Renewable Energy Limited and ARE64L Step-...
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.