Adani Green Q1 FY23 Results: Growth in Revenues Amid High Capacity Utilization
Adani Green reported its Q1FY23 earnings on Tuesday, the topline increased, but the bottom line dropped. Post the result announcement, the Adani Green share price has fallen slightly. However, in 2022, Adani Green delivered nearly 62% of returns to investors.
Adani Green Q1 FY23 Results: Key Highlights
- Revenue: Rs 1,701 crore, up 67% YoY
- Profit: Rs 214 crore, down 2% YoY
- CUF: Solar portfolio CUF)improved by 150 bps YoY to 26.5%
Let us look at Adani Green's Q1 numbers in detail:
Adani Green Q1 Results: Revenues Rise
For Q1FY23, the company reported a total income of Rs 1,701 crore, up 67% year-on-year. In the year-ago period, the company had reported revenue of Rs 1,079 crore.
Adani Green Q1 FY23 Results: Net Profit
Adani Green reported a net profit of Rs 214 crore for the June quarter. In the same period last fiscal, the company reported a net profit of Rs 219 crore. The profits were down due to higher expenses. The expenses for Q1 stood at Rs 1,425 crore compared to Rs 898 crore in the preceding fiscal.
Adani Green Q1 FY23 Results: Update on Power Supply Segment
Revenue from Power Supply increased to Rs 1,328 crore, up 57% year-on-year. EBITDA from power supply increased by 60% year on year to Rs 1,265 crore with a consistent EBITDA margin of 92%. Cash Profit increases to Rs 680 crore, up 48% over the preceding fiscal.
Adani Green Q1 Results: CUF Improved
Solar portfolio Capacity Utilisation Factor (CUF) improved by 150 bps year on year to 26.5%. Wind portfolio CUF improves by 850 bps year on year to 47.0%, the highest ever reported wind CUF. High Solar-Wind Hybrid portfolio CUF for Q1FY23 stood at 43.4%.
Adani Green Q1 FY23 Results: Target Share Price
Ventura: The firm has a target price for Adani Green's share of Rs 2814 by end of 2023. In Bull's case, the firm has assumed a terminal growth of 4%, which will result in a target price of Rs 3,629 per share. In the Bear case, the firm has assumed a terminal growth of 1%, which will result in a price target of Rs 1,982 per share. On Thursday, Adani Green Share's price closed at Rs 2188.
Is it good to buy Adani Green?
Adani Green has given excellent returns to investors. In the last year, the stock has increased by over 145% and in the last five years, it has given returns of 7329%. Adani Green stock is trading at a very high valuation. Investors should consult a financial advisor before investing in Adani Green.
What is the PE ratio of Adani Green?
Adani Green has a PE ratio of 9179.26, which is very high compared to industry and otherwise.
How to invest in Adani Green?
You can invest in Adani Green by purchasing its shares on NSE or BSE through your stock broker.