MarketFriction

Adani Green Energy Ltd

NSE ADANIGREEN · BSE 541450 · Power Generation
₹1,276.10 -0.15%
NSE close2026-10-01
52 week range765.00 - 1,631.50
Market cap₹2,07,544 Cr.
P/E107
Nifty Next 50Nifty 100Nifty 200Nifty 500Nifty EnergyNifty InfrastructureNifty Commodities No price band Delivery 66.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,2202,3112,5272,7943,0052,3403,0733,8003,0082,6183,5024,431
Expenses521645693415788460671758405377620446
Operating Profit1,6991,6661,8342,3792,2171,8802,4023,0422,6032,2412,8823,985
OPM %77%72%73%85%74%80%78%80%87%86%82%90%
Other Income35326423427129428039189158208117230
Interest1,1651,2421,2241,4261,4481,2511,3681,5251,6351,6981,6262,001
Depreciation4744814975966216186637678348868851,026
Profit before tax413207347628442291410939292-1354881,188
Tax %29%33%24%28%6%-37%29%25%-81%-27%11%22%
Net Profit3712563106295154743838246445514983
EPS in Rs2.351.620.952.821.743.111.454.393.54-0.252.415.13
Mar 2016 15mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales285021,4802,0582,5493,1245,1337,7929,22011,21212,92813,559
Expenses14986375321,0998831,6212,8221,9022,3232,1431,848
Operating Profit134038431,5261,4502,2413,5124,9707,3188,88910,78511,711
OPM %48%80%57%74%57%72%68%64%79%79%83%86%
Other Income7804273-1113855076671,2621,3161,072713
Interest233345521,1219951,9532,6172,9115,0065,4926,4846,960
Depreciation63335431,0623944868491,3001,9032,4983,3723,631
Profit before tax-9-184-210-585-501875531,4261,6712,2152,0011,833
Tax %3%-75%-35%-19%22%6%12%32%25%10%1%
Net Profit-9-47-138-475-681824899731,2602,0011,9872,146
EPS in Rs-0.58-0.37-1.00-3.03-0.151.343.136.156.949.1210.0310.83
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth85%33%18%11%
Compounded Profit Growth70%44%17%4%
Stock Price CAGR%2%8%23%
Return on Equity12%15%13%11%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1601,2741,5641,5641,5641,5641,5641,5841,5841,5841,647
Reserves-9-71-2233697926361,0505,7208,25010,55318,318
Borrowings4,1324,3479,86411,14214,86724,20952,83254,22364,85880,040103,545
Other Liabilities1,2866104,5031,5821,2012,2833,5085,38213,39418,58719,478
Total Liabilities5,5696,16015,70914,65818,42428,69258,95466,90988,086110,764142,988
Fixed Assets2,7814,3419,12010,38812,55416,42928,45248,33662,28479,914102,138
CWIP1,9622671,7257431,2084,45219,8995,2916,42714,48019,031
Investments72687774775025741,1491,5152,7432,983
Other Assets8191,5254,7773,4494,1857,30910,02912,13317,86013,62718,836
Total Assets5,5696,16015,70914,65818,42428,69258,95466,90988,086110,764142,988
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity286491,6251,9651,6013,0607,2657,7138,36410,135
Cash from Investing Activity-1,511-4,428-2,666-3,743-9,137-18,663-3,857-21,060-19,828-26,227
Cash from Financing Activity1,5593,9421,0452,1617,08315,986-2,97313,95312,06815,615
Net Cash Flow761623383-453383435606604-477
Free Cash Flow-889-3,763-1,244-1,431-4,529-11,7283,927-7,987-16,397-15,857
CFO/OP7%78%108%137%72%88%146%106%97%95%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days850245209134106141129103535060
Inventory Days383
Days Payable455
Cash Conversion Cycle85024520963106141129103535060
Working Capital Days-12,275-218-678-182-193-407-572-175-905-436-369
ROCE %2%4%4%8%10%8%8%10%9%7%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters56.26%56.37%56.37%57.51%60.93%60.93%60.93%61.91%62.44%62.44%62.44%62.43%
FIIs18.16%18.03%18.15%16.91%15.16%13.68%12.45%11.58%11.29%11.42%11.10%11.84%
DIIs1.49%1.50%1.55%1.46%1.45%1.73%2.40%2.86%2.98%4.31%4.56%4.82%
Public24.09%24.10%23.93%24.11%22.45%23.64%24.22%23.64%23.30%21.84%21.92%20.90%
No. of Shareholders6,76,2716,93,0646,68,5867,42,5796,28,4259,00,7709,95,7009,89,8219,77,4839,35,7169,30,9707,99,143

Fundamentals

Market Cap₹ 2,07,544 Cr.
Current Price₹ 1,260
Stock P/E107
Book Value₹ 121
ROCE7.39 %
ROE11.4 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)11%
Compounded Profit Growth (TTM)4%
Consolidated figures.
Valuation
Market capRs 210,196 Cr
Enterprise valueRs 310,975 Cr
P/E (TTM)117.82x
Price to book10.53x
Price to sales15.50x
EV / EBITDA25.03x
EV / EBIT35.37x
EV / sales22.93x
Price to cash flow20.74x
Earnings yield0.85%
P/E, 3-year average149.60x
P/B, 3-year average16.20x
P/E, 5-year average240.90x
P/B, 5-year average36.45x
Profitability
Operating margin (excl. other income)83.42%
Operating margin (incl. other income)91.72%
EBITDA margin91.63%
Pre-tax margin13.52%
Net profit margin13.16%
Net margin, latest quarter19.07%
ROE10.29%
ROCE7.87%
ROA1.30%
ROE, 3-year average12.09%
ROCE, 3-year average8.97%
ROA, 3-year average1.39%
ROE, 5-year average15.25%
ROCE, 5-year average8.41%
ROA, 5-year average1.37%
ROIC (approx.)7.23%
Tax rate0.70%
Other income / net worth5.37%
Growth
Sales growth (latest year)15.30%
Profit growth (latest year)14.40%
Sales CAGR, 3 years18.38%
Sales CAGR, 5 years32.85%
Profit CAGR, 3 years19.26%
Profit CAGR, 5 years51.06%
Sales growth QoQ26.53%
Profit growth QoQ112.85%
Sales growth YoY (latest quarter)16.61%
Profit growth YoY (latest quarter)18.51%
Per share
EPS (TTM)Rs 10.83
EPS (latest year)Rs 10.03
EPS (latest quarter)Rs 5.13
EPS, 3-year averageRs 8.70
EPS, 5-year averageRs 7.07
Book value per shareRs 121.21
Sales per shareRs 82.32
Cash flow per shareRs 61.53
Free cash flow per shareRs -96.27
Efficiency
Asset turnover0.09x
Fixed asset turnover0.13x
Inventory turnover9.15x
Inventory days40 days
Debtor days60 days
Debtors turnover6.07x
Creditor days455 days
Cash conversion cycle60 days
Working capital days-369 days
Leverage
Total debtRs 103,545 Cr
Cash and bankRs 2,766 Cr
Net debtRs 100,779 Cr
Debt to equity5.19x
Net debt / EBITDA8.11x
Interest coverage1.26x
Current ratio (filing 2026-03-31)0.57x
Quick ratio (filing 2026-03-31)0.56x
Trade payables (filing 2026-03-31)Rs 407 Cr
Owners' fund to total sources13.96%
Debt to assets72.42%
Cash flow
Cash from Operating Activity (latest year)Rs 10,135 Cr
Cash from Investing Activity (latest year)Rs -26,227 Cr
Cash from Financing Activity (latest year)Rs 15,615 Cr
Net Cash Flow (latest year)Rs -477 Cr
Free cash flow (latest year)Rs -15,857 Cr
FCFE (approx.: FCF + change in debt)Rs 7,648 Cr
Cash from ops / profit, 5 years5.45x
Sales to cash flow1.28x
Statement figures
Net sales (TTM)Rs 13,559 Cr
Net sales (latest year)Rs 12,928 Cr
Sales (latest quarter)Rs 4,431 Cr
Operating profit excl. other income (latest year)Rs 10,785 Cr
Operating profit (latest quarter)Rs 3,985 Cr
Other income (TTM)Rs 713 Cr
EBITDA (TTM)Rs 12,424 Cr
PBDT (TTM)Rs 5,464 Cr
Profit before tax (TTM)Rs 1,833 Cr
Tax (latest year)Rs 14 Cr
Net profit (TTM)Rs 1,784 Cr
Net profit (latest year)Rs 1,652 Cr
Net profit (latest quarter)Rs 845 Cr
Depreciation (TTM)Rs 3,631 Cr
Depreciation (latest quarter)Rs 1,026 Cr
Interest (TTM)Rs 6,960 Cr
Cost of goods sold (latest year)Rs 1,245 Cr
Total expenditure (latest year)Rs 2,143 Cr
Total income (latest year)Rs 14,000 Cr
Share capitalRs 1,647 Cr
ReservesRs 18,318 Cr
Shareholders' fundsRs 19,965 Cr
Total assetsRs 142,988 Cr
Net blockRs 102,138 Cr
Capital work in progressRs 19,031 Cr
InvestmentsRs 2,983 Cr
ReceivablesRs 2,129 Cr
InventoryRs 136 Cr
Other liabilitiesRs 19,478 Cr
Shares outstanding (crore)164.72
Ownership
Promoter holding62.43% (+0.52 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 117.8 is at the 33th percentile of its own 3.8-year range (median 154.2, low 69.6, high 329.3).
P/B 10.53 is at the 18th percentile (median 21.33).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodADANIGREENNifty 50Difference
1 week-0.3%-2.8% +2.5 pts
1 month+0.9%-6.8% +7.7 pts
3 months-18.0%-7.6% -10.4 pts
6 months+58.1%+0.4% +57.7 pts
1 year+18.2%-9.9% +28.1 pts
2 years-37.2%-13.6% -23.6 pts
3 years+29.3%+14.2% +15.1 pts
5 years+10.9%+27.9% -17.0 pts
141 mutual fund schemes hold about ₹7,869 Cr. Over three months 23 bought more and 25 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Quant Small Cap Fund2.49%884 -9%
Kotak Arbitrage Fund(M0.88%666 +53%
Quant ELSS Tax Saver Fund4.43%596 +3%
HDFC Focused Fund2.11%595 +100%
SBI Arbitrage Fund0.96%454 +15%
Quant Multi Asset Allocation Fund5.92%386 -9%
ICICI Pru Arbitrage Fund1.00%350 +30%
Quant Large Cap Fund8.10%291 +3%
Quant Multi Cap Fund3.57%276 -0%
Quant Flexi Cap Fund3.46%255 -10%
Quant Infrastructure Fund7.64%242 +1%
Tata Arbitrage Fund0.89%222 -4%
Quant Large & Mid Cap Fund5.69%198 -2%
Quant Aggressive Hybrid Fund7.66%165 -1%
ICICI Pru Nifty Next 50 Index Fund1.60%162 -4%
UTI Nifty200 Momentum 30 Index Fund1.85%156 -2%
Quant Value Fund7.54%147 -2%
Quant Quantamental Fund8.15%133 +1%
UTI Nifty Next 50 Index Fund1.60%121 -4%
Quant Momentum Fund7.42%100 -9%
Nippon India Arbitrage Fund0.48%84 -3%
Nippon India Arbitrage Fund(M0.48%81 -3%
Quant Business Cycle Fund8.14%81 +2%
Quant Dynamic Asset Allocation Fund8.58%73 +11%
Quant Focused Fund8.32%71 +6%

Red flags

F-score 4 of 8
explainLow interest cover Interest cover 1.3x in 2026
lookProfit leans on other income Other income was 54% of pre-tax profit in 2026
lookRegulator order or action Regulator order or action 2026-09-22: Adani Green Energy Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2022-09-26SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy500,000Rs 111.16 CrMarket Purchase
2022-09-23SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy500,000Rs 117.24 CrMarket Purchase
2022-09-22SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy500,000Rs 117.36 CrMarket Purchase
2022-09-21SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy600,000Rs 141.68 CrMarket Purchase
2022-09-20SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy500,000Rs 120.79 CrMarket Purchase
2022-09-19SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy500,000Rs 117.30 CrMarket Purchase
2022-09-16SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy500,000Rs 116.25 CrMarket Purchase
2022-09-15SPITZE TRADE AND INVESTMENT LIMITEPromoter Groupbuy400,000Rs 93.33 CrMarket Purchase
2022-08-23Gelt bery Trade and Investment LtdPromoter Groupbuy100Rs 0.02 CrMarket Purchase
2021-11-02INFINITE TRADE AND INVESTMENT LIMIPromoter Groupbuy800,000Rs 92.69 CrMarket Purchase
2021-11-01INFINITE TRADE AND INVESTMENT LIMIPromoter Groupbuy750,000Rs 87.59 CrMarket Purchase
2021-09-30INFINITE TRADE AND INVESTMENT LIMIPromoter Groupbuy802,000Rs 91.60 CrMarket Purchase
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹4,431 Cr +16.6% vs Jun 2025. Net profit ₹983 Cr +19.3%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-06-14Annual General Meeting
2023-07-11Annual General Meeting
2022-07-18Annual General Meeting
2021-07-02 Annual General Meeting
2020-06-16 Annual General Meeting
2019-07-29 Annual General Meeting
2018-07-27 Annual General Meeting
DateTypeWhat it says
2026-10-01UpdatesOperationalization of Projects.
2026-09-22Regulatory actionAction(s) taken or orders passed
2026-09-09Concall / analyst meetSchedule of meet
2026-09-03Shareholder meetingVoting results.
2026-09-03Shareholder meetingProceedings of Extraordinary General Meeting held on September 03, 2026
2026-09-01UpdatesOperationalisation ofProject.
2026-08-22Concall / analyst meetSchedule of meet
2026-08-11General UpdatesGeneral Updates
2026-08-11General UpdatesGeneral Updates
2026-08-10Shareholder meetingNotice of Extraordinary General Meeting to be held on September 03, 2026
2026-08-07Concall / analyst meetSchedule of meet
2026-08-01General UpdatesESG Rating
2026-07-28Concall / analyst meetSchedule of meet
2026-07-27Concall / analyst meetTranscript
2026-07-23Concall / analyst meetLink of Recording
2026-07-22Change in ManagementChange in Senior Management Personnel - Chief People Officer
2026-07-22General UpdatesPresentation on operational & financial highlights for the quarter ended June 30, 2026
2026-07-22Board meeting outcomeAdani Green Energy Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-13Concall / analyst meetSchedule of meet
2026-07-10UpdatesProvisional operational update: Q1 FY27.
2026-07-10General UpdatesESG Rating
2026-07-08UpdatesESG Rating - Crisil.
2026-07-01UpdatesChange in Senior Management Personnel Chief People Officer.
2026-07-01UpdatesOperationalization of Projects.
2026-06-28UpdatesOperationalisation of Project.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.87
Max pain (expiry 2026-10-27)1,300
Largest call open interest at1,300
Largest put open interest at1,300
Implied volatility, at the money33.7%
Underlying at snapshot1,276.10
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,298
2026-09-291,755
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
High low price variation greater than 100perc in previous 6 monthsScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Adani Green Energy Ltd?

Adani Green Energy Ltd (ADANIGREEN) has a market capitalisation of Rs 2,07,544 Cr. at the 2026-10-01 close.

What is the P/E ratio of Adani Green Energy Ltd?

Adani Green Energy Ltd trades at a P/E of 107 on trailing twelve-month profit, at the 2026-10-01 close.

What were Adani Green Energy Ltd's latest quarterly results?

In the Jun 2026 quarter, Adani Green Energy Ltd sales was Rs 4,431 Cr (+16.6% vs Jun 2025) and net profit was Rs 983 Cr.

What is the 52-week high and low of Adani Green Energy Ltd?

The 52-week high is Rs 1,631.50 and the 52-week low is Rs 765.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03