ADANIGREEN

🏗️ Projects, Strategy & Expansion

🚀 Recent Performance & Key Metrics In FY25, AGEL reported strong growth: revenue from power supply up ~23-30% year-on-year, EBITDA similarly up, and cash profits rising by ~22%. The company’s operational renewable energy (RE) capacity is growing fast. As of Q1 FY26, it stood around 15.8 GW, up roughly 45% YoY. Energy sales for Q1 FY26 increased ~42% YoY. The EBITDA margin is very healthy, over 90%. Net profit in Q1 FY26 saw a major jump (~60% YoY), and revenue from power supply also rose ~31%. 🏗️ Projects, Strategy & Expansion AGEL added ~1.6 GW greenfield capacity in Q1 FY26, and ~4.9 GW over the past year. Major additions include solar + wind hybrid projects especially in resource-rich regions like Khavda (Gujarat), Rajasthan, Andhra Pradesh. It is developing a massive renewable energy park in Khavda (Gujarat). The goal is ~30 GW capacity by 2029 for Khavda. The company increased its clean energy addition target for FY26 to ~5 GW with planned capex of about ₹31,000+ crore (approx USD 3.6-4 B) to support this expansion. ⚠️ Risks / Challenges Regulatory / Policy Issues: One recent concern is a deal with Andhra Pradesh, where the State is demanding a waiver for interstate transmission fees for a 7,000 MW solar supply deal. If not resolved favorably, that could affect the cost structure and viability of the contract. Legal / Reputational Exposure: There have been allegations/charges related to senior figures (outside the core company management in many cases) involving bribery or fraud. The company has denied irregularities and says internal reviews haven’t flagged non-compliance. But such charges do add to risk, especially for investor sentiment.