India · Delayed Price · Currency is INR Adani Green Energy Earnings Call Transcripts
Fiscal Year 2026
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Energy sales grew 34% year-over-year to 37.6 billion units, with 5.1 GW new capacity added and revenue up 22%. Plans include 2.5–5 GW new capacity and 10 GWh battery storage in FY 2027, targeting 50 GW by 2030.
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Energy sales grew 34% year-on-year, with 5.1 GW capacity added and EBITDA up 23%. FY 2027 will see over 10 GWh of battery storage and 4.5–5 GW new capacity, with most additions tied to long-term PPAs. Transmission constraints and curtailment risks are being mitigated by rapid battery deployment.
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Energy sales grew 37% and capacity rose 48% year-over-year, with strong EBITDA margins and major battery storage projects underway. Grid constraints and commodity volatility impacted revenue, but expansion and CapEx plans remain robust.
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Energy sales rose 39% and renewable capacity expanded 49% year-over-year in H1 FY26, with 2.4 GW added and strong financials including 26% revenue and 25% EBITDA growth. CapEx guidance remains INR 30,000–35,000 crore annually, and grid constraints had limited impact.
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Q1 FY26 saw record capacity additions and energy sales, with revenue and EBITDA up 31% year-over-year. Strong operational execution, robust pipeline, and disciplined capital management support the 50 GW 2030 target, despite minor transmission and market volatility.
Fiscal Year 2025
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Record FY25 performance with 3,309 MW added, 28% YoY energy sales growth, and INR 8,818 crore EBITDA. Fully funded for 5 GW FY26 expansion and on track for 50 GW by 2030, with strong capital management and advanced storage projects underway.
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Operational and financial performance remained robust with 23% growth in energy sales and 18% higher EBITDA year-over-year. Capacity additions are on track, with 5 GW targeted for FY25 and a strong focus on battery storage and long-term PPAs.
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Revenue, EBITDA, and energy sales grew 20% year-over-year, driven by 2.9 GW capacity addition and strong execution. FY25 targets 6 GW new capacity, with robust capital management and major new PPAs, including a 5 GW solar award and a Google data center deal.
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Revenue and EBITDA grew over 20% year-over-year, driven by capacity additions and strong operational performance. Merchant and C&I sales are rising, with a focus on wind and pre-COD sales, while borrowing costs are declining and no equity raise is planned.