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Not investment advice. Data and computed figures, for information only.

Adani Green Energy Ltd

NSE: ADANIGREENF&O
₹1,307.10
−₹11.30 (−0.86%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹2,06,852 Cr
CMP
₹1,307.10
52-wk High / Low
₹1,632 / 765
P/E
107.0
P/B
10.4
Book Value
₹121.0
Div Yield
0.00%
ROCE
7.0%
ROE
11.4%
Face Value
₹10
D/E
5.19

Price+22.8% over 1Y

āagman read

Computed by āagman
Derived from 11 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹165
√(22.5 × EPS × book value per share)
ROIC
6.0%
vs 5.8% sector median
Cash flow to profit
5.10
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+988
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
11.4%
ROE × earnings retention ratio
ROE stability
3.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.01FII +0.23DII +0.74
Latest quarter vs the previous one
Cash-accrual divergence
−6.4%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.1x)
+Promoter holding rose by 5.2pp over the last year
Watch-outs
−Latest ROCE of 7% trails the sector median of 9%
−Borrowings are up 2405.9% since FY2016 (4132 to 103545)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,1622,2202,3112,5272,7943,0052,3403,0733,8003,0082,6183,5024,431
Expenses81521645693415788460671758405377620446
Operating Profit2,0811,6991,6661,8342,3792,2171,8802,4023,0422,6032,2412,8823,985
OPM %96.3%76.5%72.1%72.6%85.1%73.8%80.3%78.2%80.1%86.5%85.6%82.3%89.9%
Other Income17835326423427129428039189158208117230
Interest1,3931,1651,2421,2241,4261,4481,2511,3681,5251,6351,6981,6262,001
Depreciation4514744814975966216186637678348868851,026
Profit before tax415413207347628442291410939292−1354881,188
Net Profit3233712563106295154743838246445514983
EPS (₹)2.032.351.620.952.821.743.111.454.393.54−0.252.415.13

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 11 years + TTM
Mar 2016Mar 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 %46.4%80.3%57.0%74.1%56.9%71.7%68.4%63.8%79.4%79.3%83.4%86.4%
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
Net Profit−9−47−138−475−681824899731,2602,0011,9872,146
EPS (₹)−0.58−0.37−1.00−3.03−0.151.343.136.156.949.1210.0310.83

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital1601,2741,5641,5641,5641,5641,5641,5841,5841,5841,647—
Reserves−9−71−2233697926361,0505,7208,25010,55318,318—
Borrowings4,1324,3479,86411,14214,86724,20952,83254,22364,85880,0401,03,545—
Other Liabilities1,2866104,5031,5821,2012,2833,5085,38213,39418,58719,478—
Total Liabilities5,5696,16015,70914,65818,42428,69258,95466,90988,0861,10,7641,42,988—
Fixed Assets2,7814,3419,12010,38812,55416,42928,45248,33662,28479,9141,02,138—
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 Assets5,5696,16015,70914,65818,42428,69258,95466,90988,0861,10,7641,42,988—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity—286491,6251,9651,6013,0607,2657,7138,36410,135
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 Activity—1,5593,9421,0452,1617,08315,986−2,97313,95312,06815,615
Net Cash Flow—761623383−453383435606604−477

Ratios

As of 31 Mar 2026
11 periods
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—2.04.04.08.010.08.08.010.09.07.0
ROE %——————————11.4
EPS (₹)−0.58−0.37−1.00−3.03−0.151.343.136.156.949.1210.03
Book Value (₹)——————————121.0
Face Value (₹)——————————10
P/E——————————107.0
Div Yield %——————————0.00
NPM %−25.7−8.1−9.1−22.3−2.85.28.711.512.016.014.2
OPM %48.080.057.074.057.072.068.064.079.079.083.0
D/E27.363.617.365.766.3111.0020.217.426.606.595.19
P/B——————————10.4

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+85.0%
5 years+33.0%
3 years+18.0%
TTM+11.0%
Compounded profit growth
10 years+70.0%
5 years+44.0%
3 years+17.0%
TTM+4.0%
Stock price CAGR
5 years+1.0%
3 years+10.0%
Last year+18.0%
Return on equity
10 years12.0%
5 years15.0%
3 years13.0%
Last year11.0%

Shareholding pattern

As of 31 Dec 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters86.50%86.50%86.50%74.92%56.29%61.27%57.26%56.37%60.93%62.44%62.43%
FIIs10.26%10.26%10.26%21.14%21.47%16.53%17.13%18.15%12.45%11.10%11.33%
DIIs0.24%0.24%0.24%0.20%0.30%0.79%1.45%1.55%2.40%4.56%5.30%
Government———————————
Public3.00%3.00%3.00%3.75%21.94%21.41%24.16%23.93%24.22%21.92%20.94%
No. of shareholders83,55283,55283,55294,0981,66,3862,28,4697,46,2946,68,5869,95,7009,30,9707,86,178
Change since Jun 2023 (pp)
Promoters −24.07FIIs +1.07DIIs +5.06Public +17.94

Documents

As of 11 Oct 2026
Announcements
Provisional Operational Update: H1 FY27Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBoard Meeting Intimation for Consideration And Approval Of Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationDisclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTJul 2026RecordingApr 2026TranscriptApr 2026TranscriptApr 2026PPTApr 2026RecordingJan 2026TranscriptJan 2026PPTNov 2025TranscriptNov 2025PPTNov 2025Recording

Corporate actions

Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman