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Adani Green Energy Ltd.
ADANIGREENLarge CapNSEBSE
Utilities · Power
₹1,214.90down 96.10down 7.33 percentas of 31 Aug 2026
Book value ₹112.28
Key metrics
- Market Cap
- 2,00,617.82 ₹ cr
- P/E
- 129.81 x
- P/B
- 10.82 x
- ROE
- 8.54%
- ROCE
- 8.18%
- Debt to Equity
- 0.59 x
- Net Margin
- 19.75%
- Dividend Yield
- —
- Revenue Growth (YoY)
- 16.61%
Observations
Mechanical observations generated from stored data, not analysis or opinion. Each one names the threshold that produced it — the ROCE check below uses 20%, a fixed default rather than a value tailored to this company.
- ROCE below 20% in each of the last 3 financial years (2023-2024, 2024-2025, 2025-2026).
- Revenue grew year-on-year in each of the last 3 years.
- Net margin declined year-on-year in 2 of the last 3 years.
- Promoter holding 62.4% (pledge data not available).
- Debt-to-equity 0.59 — above the Power median of 0.47.
ADANIGREEN
₹1,214.90down 7.33 percent
EOD Synced: 31 Aug 2026 18:30 ISTOverview & Live Price Chart
Executive Investment Verdict & Quality Synthesis
Autonomous V2Multi-dimensional quantitative synthesis across capital efficiency, forensic accounting, intrinsic valuation, and ownership governance.
Factual Quantitative Consensus
1. Capital Efficiency & MoatCapital Intensive
5.80%ROCE
ROE: 8.27%·P/B: 10.82x
2. Forensic Health & SolvencyPiotroski 6/9 · Adequate Health
6/9Piotroski Score
Altman: 0.2 (Distress Zone)
3. Valuation & DCF Spread+131.0% Margin of Safety
₹2,807DCF Fair Value
CMP: ₹1,214.9
4. Ownership & GovernanceClean Promoter Holding
62.43%Promoter Stake
Pledged: 0.0%·Inst: 15.33%
Institutional Factor Scores
QVGM Factor Grade Matrix
Institutional Multi-Factor Profile (QVGM)
Composite 0–100 percentile ranks normalized across all 500 universe constituents
Rank #13 of 19 in UtilitiesQVGM 42/100
Quality (Q)36
ROE, ROCE, Margins & Cash Conversion
Value (V)18
P/E, P/B, EV/EBITDA vs Sector Benchmarks
Growth (G)64
3Y Sales & EPS Compounded Growth
Momentum (M)54
Relative Strength & Trend Position
TheScreener Radar™ 5-Pillar Quantitative Scorecard
Holistic quantitative radar evaluating fundamental quality, valuation multiples, balance sheet health, growth, and price momentum
Sector Rank:Rank #13 of 19 in Utilities
Valuation
Weak18/100
P/E Ratio:129.81x
P/B Ratio:10.82x
Dividend Yield:0.00%
P/E, P/B, EV/EBITDA & Dividend Yield relative to 5Y medians and sector
Growth
Moderate64/100
3Y Sales CAGR:—
3Y PAT CAGR:—
Quarterly YoY:+12.4%
3-Year Compounded Sales & Net Profit Growth trajectory
Profitability
Weak36/100
ROE:8.3%
ROCE:5.8%
OPM %:—
Return on Equity (ROE), ROCE & Operating Margin efficiency
Solvency & Health
Moderate67/100
Piotroski F-Score:6/9
Altman Z-Score:0.21
Debt / Equity:0.00
Balance Sheet strength, Altman Z-Score & Piotroski F-Score checklist
Momentum
Moderate54/100
1Y Return:—
RSI (14):54.2
From 52W High:—
1-Year Relative Strength vs NIFTY 500, RSI-14 & 52W High distance
Quantitative Drivers & Growth Analysis
52-week corridor, deep valuation multiples, compounded CAGR trajectory, and institutional flow shifts
52-Week Low₹772.80
From 52W High-24.28%
52-Week High₹1,604.50
Valuation MultiplesCash Flow & Yield
PEG Ratio7.23
Earnings Yield9.49%
Price / FCF—
FCF Yield-3.92%
Payout Ratio—
Net-Net Ratio-113.46
Solvency & SafetyPiotroski & Altman
Piotroski F-Score6/9
Altman Z-Score0.21
Graham Number₹539.75
1Y Flow & Margin ShiftsTrailing 12M
FII Stake:▲ +0.74%
DII Stake:▲ +0.27%
OPM Margin:▲ +1.55%
Net Margin:▼ 0.10%
Compounded Annual Growth Rate (CAGR Matrix)
Historical Fundamental Trajectory| Metric | QoQ Shift | YoY Shift | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Revenue Growth | ▲ +26.53% | ▲ +16.61% | 15.31% | 18.38% | 32.85% |
| Net Profit Growth | ▲ +112.85% | ▲ +18.51% | 14.40% | 19.30% | 51.06% |
| EPS Growth | ▲ +39.39% | ▲ +16.59% | 16.15% | 17.96% | 46.61% |
Intrinsic Valuation Models & DCF Sensitivity
Institutional DCF & Intrinsic Valuation Studio — ADANIGREEN
2-Stage Discounted Cash Flow, Reverse DCF Implied Growth, and Benjamin Graham & Peter Lynch valuation benchmarks.
DCF Intrinsic Fair Value
₹2,888.1
Verdict:Undervalued (+137.7%)
Benjamin Graham Number
₹178.8
-85.3% vs CMPPeter Lynch Fair Value
₹58.6
-95.2% vs CMPReverse DCF Implied Growth
-20.0% CAGR
Modest Expectations (High Margin of Safety)Valuation Spectrum PositioningCMP: ₹1,214.9
₹0 (Distress)CMP: ₹1,215DCF: ₹2,888Graham: ₹179
Scenario Calibration & Sensitivity Levers
Tune Discount Rate (WACC), 5-Year Growth, and Terminal Value to model bear, base, and bull cases.
Discount Rate (WACC)11.5%
Cost of Capital Hurdle
5-Year FCF Growth CAGR6.0%
Assumed stage-1 cash flow expansionTerminal Growth Rate4.5%
Long-term perpetual GDP growth rate5-Year Projected Cash Flow Schedule (₹ Cr)
| Projection Period | Growth Rate | Projected FCF | Discount Factor | Present Value |
|---|---|---|---|---|
| Year 1 | 6% | ₹38,406 | 0.8969 | ₹34,445 |
| Year 2 | 6% | ₹40,710 | 0.8044 | ₹32,746 |
| Year 3 | 6% | ₹43,153 | 0.7214 | ₹31,130 |
| Year 4 | 6% | ₹45,742 | 0.6470 | ₹29,595 |
| Year 5 | 6% | ₹48,487 | 0.5803 | ₹28,135 |
2D Sensitivity Matrix (WACC vs Terminal Growth Rate)
Click any cell to apply WACC & terminal growth scenario. Values in ₹ / share.| WACC \ g(Terminal) | 3.0% | 4.0% | 4.5% | 5.0% | 6.0% |
|---|---|---|---|---|---|
| 10.0% | ₹3066 +152% | ₹3544 +192% | ₹3849 +217% | ₹4215 +247% | ₹5220 +330% |
| 11.0% | ₹2600 +114% | ₹2946 +142% | ₹3159 +160% | ₹3408 +180% | ₹4054 +234% |
| 11.5% | ₹2408 +98% | ₹2707 +123% | ₹2888 +138% | ₹3097 +155% | ₹3630 +199% |
| 12.0% | ₹2238 +84% | ₹2497 +106% | ₹2653 +118% | ₹2831 +133% | ₹3277 +170% |
| 13.0% | ₹1948 +60% | ₹2149 +77% | ₹2267 +87% | ₹2399 +97% | ₹2722 +124% |
Discounted cash flow (DCF) and valuation models are quantitative projections based on user-supplied assumptions — not a forecast, not a guarantee of future performance, and not SEBI-registered investment advice. Actual financial performance and stock price movements may differ materially.
New to intrinsic valuation models? Learn how Discounted Cash Flow and Terminal Growth rates work.Read DCF Academy Guide →
Valuation history
P/E129.81current
ReportedComputed, approximate
P/B10.82current
ReportedComputed, approximate
The dashed line is computed from historical close price divided by the most recently reported annual EPS or book value — not IndianAPI's own figure, which only ever gives a single current reading with no history behind it. Real results are typically disclosed several weeks after the fiscal year ends, so a computed point right around a year transition can lag what the market actually knew that day. The solid line is the real reported figure.
EV/EBITDA is not shown — there is no verified source for it in our data feed, and estimating it would misrepresent an estimate as a reported figure.
| Date | P/E | P/B |
|---|---|---|
| 31 Aug 2026 | 129.81 | 10.82 |
Analyst Consensus, Price Targets & Forecasts
Analyst Consensus & Recommendations
Aggregated institutional equity research ratings · 31 Aug 2026
Buy(1.91 / 5)
Strong Buy:4
Buy:6
Hold:0
Sell:0
Strong Sell:1
Coverage: 11 contributing analystsScale: 1 (Strong Buy) – 5 (Strong Sell)
Ratings shown are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Risk Profile & Volatility
Statistical return volatility classification · 31 Aug 2026
Balanced risk
Low RiskModerate RiskHigh Risk
Annualised Standard Deviation:40.25%
Analyst Price Targets
12-month forward price consensus · 31 Aug 2026
Upside: +29.23%
Mean Target₹1,570.00vs CMP ₹1,214.90
High Target₹1,800.00+48.2% max upside
Low Target₹980.00-19.3% downside
Median Target₹1,650.0011 estimates
Low: ₹980.00Mean: ₹1,570.00High: ₹1,800.00
Mean Target Current Price (₹1,214.90)
Price targets are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Forward Financial Forecasts & Consensus Estimates
Institutional broker consensus estimates and forward earnings trajectory
FY2024EConsensus
Mean Estimate
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Low:—
High:—
FY2024EConsensus
Mean Estimate
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FY2024EConsensus
Mean Estimate
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FY2024EConsensus
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FY2025EConsensus
Mean Estimate
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FY2025EConsensus
Mean Estimate
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FY2025EConsensus
Mean Estimate
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FY2025EConsensus
Mean Estimate
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FY2026EConsensus
Mean Estimate
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FY2026EConsensus
Mean Estimate
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FY2026EConsensus
Mean Estimate
—
Low:—
High:—
FY2026E1 Analysts
Mean Estimate
₹3.93
Low:—
High:—
FY2027E1 Analysts
Mean Estimate
₹3.27
Low:₹3.00
High:₹3.00
FY2027E1 Analysts
Mean Estimate
₹2.96
Low:—
High:—
FY2027E1 Analysts
Mean Estimate
₹2.64
Low:₹2.00
High:₹2.00
FY2027E1 Analysts
Mean Estimate
₹0.24
Low:—
High:—
FY2028E1 Analysts
Mean Estimate
₹5.22
Low:₹5.00
High:₹5.00
FY2028E1 Analysts
Mean Estimate
₹7.66
Low:₹7.00
High:₹7.00
FY2028E1 Analysts
Mean Estimate
₹3.98
Low:₹3.00
High:₹3.00
FY2028E1 Analysts
Mean Estimate
₹2.04
Low:₹2.00
High:₹2.00
| Period / Fiscal Year | Consensus Mean | Bull Case (High) | Bear Case (Low) | Brokers |
|---|---|---|---|---|
| FY2024 Forecast | — | — | — | — |
| FY2024 Forecast | — | — | — | — |
| FY2024 Forecast | — | — | — | — |
| FY2024 Forecast | — | — | — | — |
| FY2025 Forecast | — | — | — | — |
| FY2025 Forecast | — | — | — | — |
| FY2025 Forecast | — | — | — | — |
| FY2025 Forecast | — | — | — | — |
| FY2026 Forecast | — | — | — | — |
| FY2026 Forecast | — | — | — | — |
| FY2026 Forecast | — | — | — | — |
| FY2026 Forecast | ₹3.93 | — | — | 1 |
| FY2027 Forecast | ₹3.27 | ₹3.00 | ₹3.00 | 1 |
| FY2027 Forecast | ₹2.96 | — | — | 1 |
| FY2027 Forecast | ₹2.64 | ₹2.00 | ₹2.00 | 1 |
| FY2027 Forecast | ₹0.24 | — | — | 1 |
| FY2028 Forecast | ₹5.22 | ₹5.00 | ₹5.00 | 1 |
| FY2028 Forecast | ₹7.66 | ₹7.00 | ₹7.00 | 1 |
| FY2028 Forecast | ₹3.98 | ₹3.00 | ₹3.00 | 1 |
| FY2028 Forecast | ₹2.04 | ₹2.00 | ₹2.00 | 1 |
Third-party broker forecasts compiled from institutional research houses, not IndiScreener's proprietary estimates. Provided strictly for analytical benchmarking and does not constitute investment advice.
90-Day Earnings Revision Drift & Consensus Trajectory
Strong UpgradesTracking consensus forward EPS and revenue estimate drift across 34 institutional brokerages covering Adani Green Energy Ltd. (ADANIGREEN).
Consensus Target Price
₹1,720.00+18.60%
CMP: ₹1,450.00Brokerage Ratings Split
26 Buy/6 Hold/2 Sell
34 Analysts TrackingLast 30-Day Upgrades
+8 Upgrades
Upward EPS RevisionsLast 30-Day Downgrades
1 Downgrades
Estimate Cuts| Period | Current Consensus EPS | 30 Days Ago | 60 Days Ago | 90 Days Ago | 90D Revision Drift | Consensus Rev (Cr) | Target Price |
|---|---|---|---|---|---|---|---|
| Q2 FY26 | ₹16.40 | ₹16.10 | ₹15.80 | ₹15.20 | ▲ +7.89% | ₹41,200 Cr | ₹1,680.00 |
| Q3 FY26 | ₹17.20 | ₹16.80 | ₹16.30 | ₹15.90 | ▲ +8.18% | ₹42,800 Cr | ₹1,710.00 |
| FY26E | ₹68.50 | ₹66.80 | ₹64.90 | ₹63.20 | ▲ +8.39% | ₹1,68,500 Cr | ₹1,720.00 |
| FY27E | ₹79.40 | ₹77.20 | ₹75.00 | ₹73.10 | ▲ +8.62% | ₹1,91,200 Cr | ₹1,950.00 |
Institutional Alpha Context:Academic research shows that companies experiencing consecutive positive earnings estimate revisions (trailing 90-day consensus EPS change > +5%) exhibit significant post-earnings announcement drift (PEAD) and forward price momentum.
Forensic Accounting Audit & Solvency Risk
Accounting Health & Governance Quality Radar
Algorithmic accounting analysis across balance sheet solvency, cash conversion efficiency, and ownership stability.
Clean Governance & Solvency
Financial Strengths & Catalysts
4 Factors- •Company has demonstrated healthy revenue growth of 18.4% CAGR over 3 years.
- •Net profit has grown at an impressive 19.3% CAGR over 3 years.
- •Strong cash generation: Operating Cash Flow is 613.5% of reported Net Profit.
- •High promoter holding of 62.4% with zero encumbrance / pledge.
Risk Factors & Watchouts
3 Watchouts- •Return on Equity (ROE) is currently modest at 8.3%.
- •Company has elevated financial leverage with Debt-to-Equity of 5.08x.
- •Stock is trading at an elevated valuation multiple of 129.8x P/E.
Forensic Accounting & Health Audit
Piotroski F-Score, Altman Z-Score Distress Model & Beneish Earnings Manipulation Checks
Piotroski F-Score6 / 9
● Moderate (Neutral)
Altman Z-Score0.21
● Distress Zone
Elevated risk of financial distress / debt servicing difficulty.
Beneish M-Score-2.74
● Low Risk (Clean Accounting)
Cash flows closely match reported earnings with conservative accruals.
Learn how Piotroski F-Score (9 criteria) and Altman Z-Score detect earnings manipulation and bankruptcy risk.Read Forensic Guide →
10-Year Financial Statements & DuPont ROE
Financial Statements
consolidated · amounts in ₹ Crores
Accounting Flow:
Wall Street Cash Flow & Free Cash Flow (FCF) Cascade
FY26 (2025-2026)3-Stage institutional flow from reported earnings to owner Free Cash Flow and capital allocation
FCF Conversion Rate (FCF / PAT)
-966.2%Low Cash Conversion
Measures how much reported accounting profit turns into real liquid cash.
Free Cash Flow Margin
-123.5%of Gross Revenue
Liquid cash retained per ₹100 of top-line revenue generated.
CapEx Reinvestment Rate
257.5%of Operating Cash
Portion of operating cash reinvested in future capacity and maintenance.
Reported Net Profit (PAT)₹1,652 CrInflow
1,652
+ D&A Non-Cash Charge₹3,372 CrAdd-back
3,372
Working Capital Adjustment₹5,111 Cr+ Cash
5,111
= Operating Cash Flow (CFO)₹10,135 CrOperating Cash
10,135
- Capital Expenditures (CapEx)-₹26,097 CrReinvestment
26,097
= Free Cash Flow (FCF)-₹15,962 CrFree Cash Flow
15,962
- Dividends & Debt Repayment-₹363 CrCapital Return
363
= Net Change in Cash-₹16,325 CrNet Balance
16,325
Multi-Year Historical FCF vs Reported PAT Trajectory:
Free Cash Flow (FCF) Reported Net Profit (PAT)
| Metric | 2015-201631 Mar 2016 | 2016-201731 Mar 2017 | 2017-201831 Mar 2018 | 2018-201931 Mar 2019 | 2019-202031 Mar 2020 | 2020-202131 Mar 2021 | 2021-202231 Mar 2022 | 2022-202331 Mar 2023 | 2023-202431 Mar 2024 | 2024-202531 Mar 2025 | 2025-202631 Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | ₹6,464.00 | ₹2,548.63 | ₹3,124.00 | ₹5,133.00 | ₹7,792.00 | ₹9,220.00 | ₹11,212.00 | ₹12,928.00 |
| Operating profit | — | — | — | ₹1,292.80 | ₹864.57 | ₹1,671.00 | ₹2,727.00 | ₹4,035.00 | ₹5,190.00 | ₹6,065.00 | ₹7,194.00 |
| OPM | — | — | — | 20.00% | 33.92% | 53.49% | 53.13% | 51.78% | 56.29% | 54.09% | 55.65% |
| Net profit | — | — | — | ₹826.00 | ₹-23.23 | ₹210.00 | ₹489.00 | ₹973.00 | ₹1,100.00 | ₹1,444.00 | ₹1,652.00 |
| EPS | — | — | — | 5.03 | 0.93 | 1.73 | 2.79 | 7.14 | 7.26 | 10.09 | 11.72 |
| Net margin | — | — | — | 12.78% | -0.91% | 6.72% | 9.53% | 12.49% | 11.93% | 12.88% | 12.78% |
| ROE | — | — | — | 21.12% | -0.99% | 9.55% | 18.71% | 13.32% | 11.19% | 11.90% | 8.27% |
| ROCE | — | 2.00% | 4.00% | 24.91% | 5.61% | 7.33% | 5.77% | 6.85% | 8.41% | 6.42% | 5.80% |
| Debt / equity | — | — | — | 0.33 | 6.31 | 11.00 | 20.21 | 7.42 | 6.60 | 6.59 | 5.08 |
Compounded growth (CAGR)
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Revenue | 15.31% | 18.38% | 32.85% | — |
| Net profit | 14.40% | 19.30% | 51.06% | — |
| EPS | 16.15% | 17.96% | 46.61% | — |
Each column only appears when 11 real reported years actually support it — never extrapolated from fewer.
Balance sheet
| Metric | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | — | — | ₹7,110.40 | ₹18,425.14 | ₹28,721.00 | ₹59,167.00 | ₹67,361.00 | ₹88,538.00 | ₹1.11 L | ₹1.44 L |
| Total liabilities | — | — | — | ₹3,199.68 | ₹16,068.58 | ₹26,521.00 | ₹56,553.00 | ₹60,057.00 | ₹78,704.00 | ₹99,261.00 | ₹1.24 L |
| Total equity | — | — | — | ₹3,910.72 | ₹2,356.56 | ₹2,200.00 | ₹2,614.00 | ₹7,304.00 | ₹9,834.00 | ₹12,137.00 | ₹19,965.00 |
| Total debt | — | — | — | ₹1,279.87 | ₹14,866.18 | ₹24,209.00 | ₹52,832.00 | ₹54,223.00 | ₹64,858.00 | ₹80,040.00 | ₹1.01 L |
| Cash | — | — | — | ₹853.25 | ₹633.80 | ₹115.00 | ₹171.00 | ₹316.00 | ₹1,558.00 | ₹2,071.00 | ₹1,106.00 |
| Current assets | — | — | — | ₹3,199.68 | ₹2,583.35 | ₹3,989.00 | ₹6,188.00 | ₹7,808.00 | ₹13,863.00 | ₹8,622.00 | ₹11,461.00 |
| Current liabilities | — | — | — | ₹1,777.60 | ₹3,015.41 | ₹5,928.00 | ₹11,932.00 | ₹8,443.00 | ₹26,814.00 | ₹16,888.00 | ₹20,150.00 |
| Inventory | — | — | — | ₹646.40 | ₹195.94 | ₹149.00 | ₹291.00 | ₹122.00 | ₹378.00 | ₹154.00 | ₹217.00 |
| Receivables | — | — | — | ₹775.68 | ₹991.41 | ₹1,607.00 | ₹1,972.00 | ₹2,259.00 | ₹1,482.00 | ₹1,750.00 | ₹2,436.00 |
| Payables | — | — | — | ₹581.76 | ₹175.45 | ₹129.00 | ₹145.00 | ₹391.00 | ₹354.00 | ₹395.00 | ₹407.00 |
| Net PP&E | — | — | — | ₹2,844.16 | ₹13,756.49 | ₹20,800.00 | ₹48,268.00 | ₹53,548.00 | ₹68,618.00 | ₹94,302.00 | ₹1.21 L |
| Retained earnings | — | — | — | ₹2,933.04 | ₹-823.59 | ₹-702.00 | ₹-297.00 | ₹599.00 | ₹3,142.00 | ₹5,391.00 | ₹4,518.00 |
Cash flow
| Metric | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | — | ₹1,032.50 | ₹1,965.14 | ₹1,601.00 | ₹3,678.00 | ₹7,265.00 | ₹7,713.00 | ₹8,364.00 | ₹10,135.00 |
| Capital expenditure | — | — | — | ₹387.84 | ₹-3,397.37 | ₹-6,143.00 | ₹-14,792.00 | ₹-3,376.00 | ₹-15,773.00 | ₹-24,776.00 | ₹-26,097.00 |
| Free cash flow | — | — | — | ₹644.66 | ₹-1,432.23 | ₹-4,542.00 | ₹-11,114.00 | ₹3,889.00 | ₹-8,060.00 | ₹-16,412.00 | ₹-15,962.00 |
| OCF / net profit | — | — | — | 1.25 | -84.59 | 7.62 | 7.52 | 7.47 | 7.01 | 5.79 | 6.14 |
| FCF / Capex intensity | — | — | — | 0.06 | 133.30 | 196.64 | 288.17 | 43.33 | 171.07 | 220.98 | 201.86 |
Income statement detail
| Metric | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | — | — | — | ₹2,262.40 | ₹2,066.01 | ₹2,493.00 | ₹3,839.00 | ₹6,028.00 | ₹8,033.00 | ₹9,739.00 | ₹12,182.00 |
| Cost of revenue | — | — | — | ₹4,201.60 | ₹482.62 | ₹631.00 | ₹1,294.00 | ₹1,764.00 | ₹1,187.00 | ₹1,473.00 | ₹746.00 |
| EBITDA | — | — | — | ₹1,422.08 | ₹1,258.88 | ₹2,157.00 | ₹3,576.00 | ₹5,335.00 | ₹7,093.00 | ₹8,563.00 | ₹10,566.00 |
| Income before tax | — | — | — | ₹1,098.58 | ₹-49.89 | ₹187.00 | ₹552.00 | ₹1,367.00 | ₹1,382.00 | ₹1,771.00 | ₹1,584.00 |
| Interest expense | — | — | — | ₹323.20 | ₹894.18 | ₹1,443.00 | ₹2,126.00 | ₹2,683.00 | ₹3,887.00 | ₹4,388.00 | ₹5,544.00 |
| Tax expense | — | — | — | ₹272.58 | ₹-32.89 | ₹27.00 | ₹62.00 | ₹453.00 | ₹411.00 | ₹214.00 | ₹14.00 |
| D&A | — | — | — | ₹258.56 | ₹394.31 | ₹486.00 | ₹849.00 | ₹1,300.00 | ₹1,903.00 | ₹2,498.00 | ₹3,372.00 |
| EBITDA margin | — | — | — | 22.00% | 49.39% | 69.05% | 69.67% | 68.47% | 76.93% | 76.37% | 81.73% |
Financial ratios
| Metric | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | 1.80 | 0.86 | 0.67 | 0.52 | 0.92 | 0.52 | 0.51 | 0.57 |
| Quick ratio | — | — | — | 1.44 | 0.79 | 0.65 | 0.49 | 0.91 | 0.50 | 0.50 | 0.56 |
| Interest coverage | — | — | — | 4.00 | 0.97 | 1.16 | 1.28 | 1.50 | 1.34 | 1.38 | 1.30 |
| Inventory days | — | — | — | 45.00 | 148.19 | 86.19 | 82.08 | 25.24 | 116.23 | 38.16 | 106.17 |
| Receivable days | 850.00 | 245.00 | 209.00 | 35.00 | 141.98 | 187.76 | 140.23 | 105.82 | 58.67 | 56.97 | 68.78 |
| Payable days | — | — | — | 40.00 | 132.69 | 74.62 | 40.90 | 80.90 | 108.85 | 97.88 | 199.14 |
| Cash conversion cycle | 850.00 | 245.00 | 209.00 | 40.00 | 157.48 | 199.33 | 181.41 | 50.16 | 66.05 | -2.75 | -24.19 |
| Working capital days | -12,275.00 | -218.00 | -678.00 | -182.00 | -193.00 | -407.00 | -572.00 | -175.00 | -905.00 | -436.00 | -369.00 |
| Fixed asset turnover | — | — | — | 2.27 | 0.19 | 0.15 | 0.11 | 0.15 | 0.13 | 0.12 | 0.11 |
| ROA | — | — | — | 11.62% | -0.13% | 0.73% | 0.83% | 1.44% | 1.24% | 1.30% | 1.15% |
| ROIC | — | — | — | 19.04% | 1.78% | 5.44% | 4.38% | 4.41% | 4.99% | 5.92% | 5.93% |
| Gross margin | — | — | — | 35.00% | 81.06% | 79.80% | 74.79% | 77.36% | 87.13% | 86.86% | 94.23% |
DuPont 3-Stage ROE Factor Decomposition
Deconstructing Return on Equity into Profitability, Asset Efficiency, and Financial Leverage
Leverage Driven (Elevated Debt Contribution)FY2025-2026
Net marginProfitability
12.78%
Net Profit generated per ₹100 of revenue (Profitability)
×
Asset turnoverEfficiency
0.09
Revenue generated per ₹1 of total assets (Capital Efficiency)
×
Equity multiplierLeverage
7.22
Total assets supported per ₹1 of shareholder equity (Leverage)
=
Implied DuPont ROEFinal Output
8.27%
Reported: 8.27%
5-Year Peer DuPont ROE Factor Matrix
Deconstructing Return on Equity into Profitability (Net Margin) × Efficiency (Asset Turnover) × Leverage (Equity Multiplier)
Leverage-Fueled
Latest Implied ROEFY2025-2026
8.27%
-9.0% vs Sector Median
Primary ROE DriverQuality Grade
Leverage-Fueled
Elevated financial leverage (>3.0x); capital structure amplifies returns
Financial Leverage RiskAssets / Equity
7.22x
⚠️ High Leverage Risk (>3.0x)
5-Year Factor Trajectory & ReconciliationValues in INR • Audited Financial Statements
| Fiscal Period | Net Margin % | × | Asset Turnover | × | Equity Multiplier | = | Implied ROE | Reported ROE | Quality Driver |
|---|---|---|---|---|---|---|---|---|---|
| FY2025-2026Latest | 12.78% | × | 0.09 | × | 7.22x | = | 8.27% | 8.27% | Leverage-Fueled |
| FY2024-2025 | 12.88% | × | 0.10 | × | 9.18x | = | 11.89% | 11.90% | Leverage-Fueled |
| FY2023-2024 | 11.93% | × | 0.10 | × | 9.00x | = | 11.18% | 11.19% | Leverage-Fueled |
| FY2022-2023 | 12.49% | × | 0.12 | × | 9.22x | = | 13.32% | 13.32% | Leverage-Fueled |
| FY2021-2022 | 9.53% | × | 0.09 | × | 22.63x | = | 18.72% | 18.71% | Leverage-Fueled |
DuPont Factor Data reconciled from audited MCA / SEBI balance sheet and income filings.Deep 5-Stage DuPont ROE Breakdown
Explore the 3-Stage DuPont Formula: Net Margin × Asset Turnover × Leverage Multiplier.Read DuPont Guide →
Corporate Actions, Dividends & Capital Changes
Chronological Corporate Actions Registry
Historical stock splits, bonus shares, rights issues, and corporate schemes
No corporate actions or splits have been recorded for this company.
Sub-Industry Leaderboard & Peer Comparison
Sub-Industry Peer Leaderboard
Utility-scale solar IPPs, rooftop developers, and solar EPC contractors.
Ranking 5 listed peers for Adani Green Energy Ltd. by key profitability and valuation metrics. Click a column header to re-sort. Colour coding: top third / middle / bottom third.
| # | Company | ROCE % | 3Y Rev CAGR | OPM % | P/E | Mkt Cap |
|---|---|---|---|---|---|---|
| 1 | Adani Power Ltd.ADANIPOWER | — | — | — | 31.9x | ₹3.83L Cr |
| 2 | NTPC Ltd.NTPC | — | — | — | — | ₹3.21L Cr |
| 3 | Power Grid Corporation of India Ltd.POWERGRID | — | — | — | 15.5x | ₹2.48L Cr |
| 4 | Adani Energy Solutions Ltd.ADANIENSOL | — | — | — | 83.2x | ₹1.79L Cr |
| 5 | Tata Power Co. Ltd.TATAPOWER | — | — | — | 30.1x | ₹1.11L Cr |
Sub-industry classification uses a proprietary 3-tier taxonomy (Sector → Industry → Sub-Industry). Metrics are trailing twelve-month (TTM) or most recent available annual data. This leaderboard is for informational and comparative purposes only — not a buy or sell recommendation per SEBI guidelines.
Industry Peer Group & Valuation Spread
Compare valuation multiples and market cap relative to sector competitors
Market Cap2,00,617.82 ₹ cr
Beats 85% of 20 industry peers · median 35,619.45 ₹ cr
P/E129.81 x
Beats 88% of 17 industry peers · median 25.58 x
P/B10.82 x
Beats 94% of 18 industry peers · median 2.25 x
ROE8.54%
Beats 32% of 19 industry peers · median 17.27%
ROCE8.18%
Beats 16% of 19 industry peers · median 15.02%
Debt to Equity0.59 x
Beats 68% of 19 industry peers · median 0.47 x
Net Margin19.75%
Beats 100% of 19 industry peers · median 16.52%
Revenue Growth (YoY)16.61%
Beats 63% of 19 industry peers · median 7.81%
| Company | Market Cap ▼ | P/E | P/B |
|---|---|---|---|
Adani Power Ltd.ADANIPOWER | ₹3.83 L | 31.95 | 6.31 |
NTPC Ltd.NTPC | ₹3.21 L | — | — |
Power Grid Corporation of India Ltd.POWERGRID | ₹2.48 L | 15.47 | 2.45 |
Adani Energy Solutions Ltd.ADANIENSOL | ₹1.79 L | 83.23 | 7.47 |
Tata Power Co. Ltd.TATAPOWER | ₹1.11 L | 30.05 | 2.85 |
Peers are chosen strictly by industry classification. A classification doesn't always describe what a company actually competes in, but gives an objective starting point across the universe.
Regulatory Filings & Market Intelligence
Corporate Filings & Document Vault
SEBI LODR VerifiedAudited Annual Reports, Investor Decks, Earnings Concall Transcripts, and Board Resolutions for Adani Green Energy Ltd. (ADANIGREEN)
Indexed Documents6 Filings
Latest Disclosure31 Jul 2026
Concall Transcript31 Jul 2026
Adani Green Energy Ltd: Transcript of Earnings Conference Call with Institutional Investors
Secretarial Filing31 Jul 2026
Adani Green Energy Ltd: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015
Corporate Action25 May 2026
Adani Green Energy Ltd: Recommendation of Final Dividend for the Financial Year 2025-26
AGM / EGM12 Apr 2026
Adani Green Energy Ltd: Notice of Annual General Meeting and Record Date for Dividend
Press Release06 Apr 2026
Adani Green Energy Ltd: Press Release: Business Updates and New Strategic Initiatives
News
- IndianAPIAdani Power, Adani Enterprises to Adani Energy: Gautam Adani-owned stocks crash up to 8% in trade today; here's why
Adani Group stocks faced significant selling pressure on Monday amidst MSCI index reshuffling. Adani Enterprises dropped over 8%, with all major group companies declining. Broader Indian markets also weakened, reflecting caution among investors before MSCI changes and external economic pressures.
- IndianAPIAvaada Electro cuts IPO size to ₹7,600 crore amid valuation, concentration concerns
The solar manufacturer lowered its target from a potential ₹10,000 crore after prospective investors flagged heavy revenue reliance on its group entity and rising competition in the sector.
- IndianAPIAdani’s new cash cow: A private infra firm buying into group peers
Adani Group’s infrastructure spending boom has turned privately-held Adani Infra into a massive cash generator. The company's growing investments in the group’s listed firms show how wealth created within the conglomerate is being spent across its businesses.
- IndianAPIAdani’s new cash cow: A private infra firm buying into group peers
Adani Group’s infrastructure spending boom has turned privately-held Adani Infra into a massive cash generator. The company's growing investments in the group’s listed firms show how wealth created within the conglomerate is being spent across its businesses.
- IndianAPITop Gainers & Losers on 23 July: SRF, IndusInd Bank, Adani Green Energy, HFCL, CarTrade Tech among top losers
Dalal Street saw continued declines, with major indices closing lower for the fourth session. Escalating Middle East tensions and rising crude oil prices contributed to fragile market sentiment, while private sector banks struggled and the Nifty 50 fell to 23,869.
- IndianAPITop Gainers & Losers on 23 July: SRF, IndusInd Bank, Adani Green Energy, HFCL, CarTrade Tech among top losers
Dalal Street saw continued declines, with major indices closing lower for the fourth session. Escalating Middle East tensions and rising crude oil prices contributed to fragile market sentiment, while private sector banks struggled and the Nifty 50 fell to 23,869.
- IndianAPIAdani Green share price falls 5% despite strong Q1 results - Should you buy the Adani Group stock?
Despite a strong quarterly performance, shares of Adani Green fell 5%. The company reported a 19% net profit increase in Q1 FY27 to ₹845 crore, driven by operational growth and improved margins, but concerns over structural changes affect market perception.
- IndianAPIAdani Green share price falls 5% despite strong Q1 results - Should you buy the Adani Group stock?
Despite a strong quarterly performance, shares of Adani Green fell 5%. The company reported a 19% net profit increase in Q1 FY27 to ₹845 crore, driven by operational growth and improved margins, but concerns over structural changes affect market perception.
- IndianAPIStocks to watch: Infosys, IndiGo, BPCL among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 23,887 mark, down over 101 points from the previous close of Nifty futures.
- IndianAPIStocks to watch: Infosys, IndiGo, BPCL among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 23,887 mark, down over 101 points from the previous close of Nifty futures.
- IndianAPIAdani Green Q1 profit rises about 20% as clean energy capacity crosses 20 GW
To reduce the uncertainty in its earnings, the renewable energy arm of the Adani Group signed a pact with the power distribution arm of the group, Adani Energy Solutions Ltd, to supply 4 GW power.
- IndianAPIAdani Green Q1 profit rises about 20% as clean energy capacity crosses 20 GW
To reduce the uncertainty in its earnings, the renewable energy arm of the Adani Group signed a pact with the power distribution arm of the group, Adani Energy Solutions Ltd, to supply 4 GW power.
- IndianAPIQ1 results 2026: Eternal to Adani Power among companies to declare Q1 results today; full list here
Q1 results 2026: Eternal, Adani Power, Nestle India, Adani Green Energy, BPCL, JSW Energy, Dr Reddy's Laboratories, HPCL, IndusInd Bank are among the companies to declare their Q1 results FY27 today.
- IndianAPIQ1 results 2026: Eternal to Adani Power among companies to declare Q1 results today; full list here
Q1 results 2026: Eternal, Adani Power, Nestle India, Adani Green Energy, BPCL, JSW Energy, Dr Reddy's Laboratories, HPCL, IndusInd Bank are among the companies to declare their Q1 results FY27 today.
- IndianAPIStocks to watch: Eternal, Nestle, Indian Hotels among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,108 mark, down over 72 points from the previous close of Nifty futures.
- IndianAPIStocks to watch: Eternal, Nestle, Indian Hotels among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,108 mark, down over 72 points from the previous close of Nifty futures.
- IndianAPIMSCI India August Review: Groww, Adani Green, Adani Energy among likely additions; Astral, SBI Cards face exclusion risk
MSCI India Standard Index rebalancing is scheduled to be announced on August 12 after market hours, which could see as many as 12 inclusions and three exclusions. This is estimated to lead to potential passive inflows of around $2.3 billion. The changes will take effect from August 31.
- IndianAPIMSCI India August Review: Groww, Adani Green, Adani Energy among likely additions; Astral, SBI Cards face exclusion risk
MSCI India Standard Index rebalancing is scheduled to be announced on August 12 after market hours, which could see as many as 12 inclusions and three exclusions. This is estimated to lead to potential passive inflows of around $2.3 billion. The changes will take effect from August 31.
- IndianAPIStock market today: Gift Nifty hints muted start; seven day trading stocks to buy on Wednesday, 15 July
The Indian stock market is expected to open subdued due to mixed global cues and ongoing geopolitical tensions. The Sensex fell 561.46 points, while the Nifty 50 decreased by 158.95 points. Traders remain cautious amidst elevated oil prices and fresh US-Iran hostilities.
- IndianAPIStock market today: Gift Nifty hints muted start; seven day trading stocks to buy on Wednesday, 15 July
The Indian stock market is expected to open subdued due to mixed global cues and ongoing geopolitical tensions. The Sensex fell 561.46 points, while the Nifty 50 decreased by 158.95 points. Traders remain cautious amidst elevated oil prices and fresh US-Iran hostilities.
For informational and educational purposes only. Not investment advice. Data may be delayed or incomplete. Consult a SEBI-registered investment adviser before making investment decisions.