Adani Green Energy Ltd
Adani Green Energy Ltd (ADANIGREEN)

Adani Green Energy Ltd (ADANIGREEN)

₹2323.851.69%

Key Stats

₹2305
Day's Price Range
₹2378
₹1106
52-Week Price Range
₹3050
1 Month Return-0.2 %
3 Month Return27.23 %
1 Year Return105.67 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 9
985.29
EPS
Rank 9
₹2.37
BVPS
Rank 9
₹7.61
Dividend Yield
Rank 7
ROE
Rank 10
-4.18%
Price To Book Ratio
Rank 9
306.85
Debt To Asset
Rank 1
0.92

Company Information

Adani Green Energy Limited is among the largest renewable energy businesses in India with a current project portfolio of 20434 MW. The Adani Group has been promoted by the visionary industrialist Mr. Gautam Adani in 1988 as a commodity trading business the flagship company being Adani Enterprises Limited previously Adani Exports Limited. Headquartered in Ahmedabad India Adani Group comprises the largest and fastestgrowing portfolio of diversified businesses in India with interests in Logistics seaports airports logistics shipping and rail Power Generation Transmission Distribution Integrated Resource Management Renewable Energy Gas Infrastructure Agro commodities edible oil food products cold storage and grain silos Solar Manufacturing Real Estate Public Transport Infrastructure Defence Aerospace Mining Services Copper Petrochemicals Data Centre and other sectors. Apart from this it establishes builds develops operates and maintains utility scale grid connected solar power wind power hybrid projects and solar parks.The Company has expanded its presence across 11 Indian States with the help of longterm Power Purchase Agreements PPAs with Central and State Government entities. It has 5410 MW operational projects and 15024 MW under construction. Presently the Company has installed capacity of 12 MW at Lahori to augment renewable power supply in Madhya Pradesh. It sells power generated from 12 MW wind power project under long term Power Purchase Agreement PPA and is engaged in renewable power generation and purchase/ sale of other ancillary goods. Adani Green Energy was incorporated on 23 January 2015 as a subsidiary of Adani Enterprises Limited AEL with an objective of dealing in any kind of power or electrical energy using coal lignite petroleum products or any other substances wind energy solar energy renewable energy wave energy tidal energy hydro energy thermal energy or any other form of energy and any products or byproducts derived from any such business of energy and to set up power plants wind turbines power stations hydel power station solar energy systems renewable energy systems or any other facility to generate power. The first accounting period of the company was from 23 January 2015 to 31 March 2016. The paid up share capital of the company increased from Rs. 5 lacs to Rs. 160 crore during the period under review. During the period under review Adani Green Energy signed contract with Inox Wind Limited for setting up of wind power project of 20 MW capacity at Lahori Madhya Pradesh. Out of this 12 MW capacity has achieved commercial operation as on 31 March 2016. The company also won 50 MW Solar Power bid in the state of Jharkhand from JREDA under Jharkhand State Solar Power Policy 2015.During the period under review Adani Green Energys subsidiary company Adani Renewable Energy Park Limited entered into Joint Venture Agreement with Government of Rajasthan and formed a Joint Venture Company under the name Adani Renewable Energy Park Rajasthan Limited with equity ratio of 50:50.During the year ended 31 March 2017 Adani Properties Private Limited transferred 93631650 Equity Shares of Rs. 10/ each held by it in Adani Green Energy to Universal Trade and Investments Limited.On 20 December 2017 Adani Green Energy disposed off 50000 Equity Shares of Zemira Renewable Energy Limited Zemira erstwhile known as Adani Wind Energy AP Limited constituting 100 of paidup share capital of Zemira. Accordingly Zemira ceased to be subsidiary of the company.On 22 March 2018 Adani Green Energy acquired 49 of Equity Shares of Kodangal Solar Parks Private Limited KSPPL. Accordingly KSPPL became a joint venture of the company.The National Company Law Tribunal bench at Ahmedabad had vide its order dated 16 February 2018 sanctioned the Scheme of Arrangement among Adani Enterprises Limited AEL and Adani Green Energy Limited AGEL and their respective shareholders and creditors the Scheme. The Scheme with effect from 1 April 2018 inter alia provides for transfer and vesting of Renewable Power Undertaking of AEL to AGEL. As per the Scheme 100 investment of AEL into Equity Shares of Prayatna Developers Private Limited PDPL was transferred to AGEL with effect from the appointed date i.e. 1 April 2018. Accordingly PDPL became whollyowned subsidiary of AGEL with effect from 1 April 2018.The company had 15 direct and indirect subsidiaries and 1 joint venture as on 31 March 2018. Upon the Scheme of Arrangement among Adani Enterprises Limited and Adani Green Energy Limited and their respective shareholders and creditors coming into effect from 01 April 2018 the Company had issued 761 Equity Shares of Rs 10/ each to shareholders of Adani Enterprises Limited against every 1000 Equity Shares held by them. Accordingly 649689000 Equity Shares held by Adani Enterprises Limited in the Company alongwith its nominees were cancelled and 836955473 Equity Shares were issued by the Company on 08 April 2018.The Equity Shares of the company got listed on BSE Limited Mumbai and the National Stock Exchange of India Limited Mumbai on 18 June 2018.The Company had 39 direct and indirect subsidiaries and 1 Joint Venture as on 31 March 2019.The Company has entered into a Joint Venture Agreement dated 03 April 2020 with Total Solar Singapore Pte Ltd Total to record the terms and conditions for i regulating the operation and management of the JV Company ii governing the relationship between the Company and Total iii certain rights and obligations of the Company and Total in relation to the JV Company. The JV Company owns 2148 MW operational Solar Power Project. The Company and Total both own 50 shareholding of the JV Company.The Company refinanced its 648 MW Kamuthi Solar PV project from Power Finance Corporation in FY 201920 refinancing its operational solar portfolio.The company had 74 direct and indirect subsidiaries and 1 Joint Venture as on 31 March 2020. The company added 925 MW operational capacity in FY21 despite pandemic. In FY21 AGEL commissioned 100 MW solar plant in Rajasthan 250 MW solar plant in Gujarat 125 MW solar plant in Uttar Pradesh and 100 MW wind plant in Gujarat.In FY21 AGEL completed acquisition of 205 MW solar plants from Essel Group 75 MW solar plants from Sterling Wilson 50 MW solar plants from SkyPower Global 20 MW solar plant from Hindustan Power projects.In FY21 AGEL received Letters of Award for 8900 MW renewable projects. This includes i 8000 MW solar projects from Solar Energy Corporation of India ii 600 MW SolarWind Hybrid project from Solar Energy Corporation of India and iii 300 MW wind project from Solar Energy Corporation of India.During the FY 2021 the company is ranked as the Largest Developer of Solar Power in the world by US based Mercom Capital.The company had 116 direct and indirect subsidiaries associates and 1 Joint Venture as on 31 March 2021.In FY21 It acquired 23.5 stake in Indias leading airports Mumbai airport.The company signed definitive agreements for 100 acquisition of SB Energy Holdings Limited in FY21. In December 2021 Company signed the worlds largest renewables power purchase agreement for 4.67GW capacity as part of the recordbreaking 8GW solar generation in SECIs first manufacturinglinked solar tender. It engaged in the largest acquisition in Indias renewable energy space when it acquired SB Energys 5 GW portfolio for USD 3.5 billion. It enhanced the availability of probable project land parcels to 200000 hectares as of now. As of March 31 2022 Company operated 5.4 GW of renewable assets and was implementing 15 GW projects creating a lockedin portfolio of 20.4 GW.In FY22 Company invested in Indias largest BiFacial Trackerbased solar project it was the first to use string inverters enhancing energy stability. It commissioned Indias first hybrid energy park which reconciles solar and wind renewable energy infrastructure within the same location strengthening Return on Land and empowering to generate power through all 24 hours. It increased the largest energy generation capacity of 3 GW It signed 6 GW of power purchase agreements out of 8 GW of manufacturinglinked solar projects the worlds largest PPA. It mobilized US 750 million through a bond issuance for setting a global benchmark. It acquired of Softbanks 5 GW renewable energy portfolio. It commenced operations of Bravus mine in Australia. It took over operations of the Guwahati Jaipur and Thiruvananthapuram airports and acquired of MIAL and NMIAL. During FY 202122 it acquired the 4.9 GW of renewable portfolio of Softbank and Bharti Group. This acquisition helped leapfrog its aggregate capacity empowering AGEL to achieve 25 GW capacity target for 2025 ahead of schedule. It commissioned the Khavda Land project and tied up to accommodate 15 GW renewable projects in Khavda Gujarat. The Company also secured land needs for its 45 GW ambition by 2030. It acquired Mumbai and Navi Mumbai airports. The Adani Wilmar Limited IPO subscribed 17x. Its combined Group market capitalisation exceeded USD 200 billion. It added 1940 MW operational capacity in FY 202122 greenfieldcommissioning 200 MW and inorganic addition 1740 MW. It forged longterm contracts with Bloomberg Tier1 rated solar equipment manufacturers and wind turbine generators reconciling customized solutions and timely project completion. It signed the worlds largest PPA with SECI to supply 6 GW of renewable energy.During fiscal 2022 4763 MW of operational solar projects operated at a capacity utilization factor CUF of 23.8 and a plant availability of 99.6. Besides 647 MW of operational wind projects operated at a CUF of 30.8 and a plant availability of 96.5.
OrganisationAdani Green Energy Ltd
HeadquartersAhmedabad
IndustryPower Generation & Distribution