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Adani Green Energy

₹968.7 -7.5 | 0.8%

Market Cap ₹153445 Cr.

Stock P/E 157.5

P/B 26.1

Current Price ₹968.7

Book Value ₹ 37.1

Face Value 10

52W High ₹2574.1

Dividend Yield 0%

52W Low ₹ 439.4

Adani Green Energy Research see more...

Overview Inc. Year: Industry: Power Generation/Distribution

Adani Green Energy Ltd generates and elements renewable energy to important and state authorities entities, and government backed corporations in India. The company builds, owns, and operates power plants thru renewable sources, including solar, wind, and hybrid; and gives different ancillary offerings. It operates solar power plants with an operational capability of 3,023 megawatts (MW); and wind electricity plants with an operational potential of 497 MW. The enterprise was included in 2015 and is based in Ahmedabad, India. Adani Green Energy Ltd was formerly a subsidiary of Adani Enterprises Limited.

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Adani Green Energy Share Price

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Adani Green Energy Quarterly Results

#(Fig in Cr.) Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
Net Sales 749 986 977 1295 1400 1461 1635 1586 1973 2598
Other Income 158 101 102 116 210 126 66 100 285 390
Total Income 906 1087 1079 1411 1610 1587 1701 1686 2258 2988
Total Expenditure 343 365 223 525 496 489 687 720 1120 334
Operating Profit 563 722 856 886 1114 1098 1014 966 1138 2654
Interest 407 476 524 613 813 667 458 498 617 1338
Depreciation 124 133 151 164 260 274 280 298 330 392
Exceptional Income / Expenses 0 -13 80 0 0 -15 0 0 -69 -125
Profit Before Tax 31 100 261 109 41 142 276 170 122 799
Provision for Tax -10 -4 42 9 -7 21 59 24 63 307
Profit After Tax 41 104 219 100 48 121 217 146 59 492
Adjustments 2 1 0 0 1 0 -3 3 44 16
Profit After Adjustments 44 105 219 100 49 121 214 149 103 508
Adjusted Earnings Per Share 0.3 0.7 1.4 0.6 0.3 0.8 1.4 0.9 0.7 3.2

Adani Green Energy Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Net Sales 28 502 1480 2058 2549 3124 5133 7792
Other Income 7 144 51 113 394 630 444 841
Total Income 34 645 1531 2171 2943 3754 5577 8633
Total Expenditure 14 98 647 533 1099 889 1623 2861
Operating Profit 20 547 885 1638 1844 2865 3954 5772
Interest 39 397 552 1161 1309 2108 2617 2911
Depreciation 6 333 543 1062 394 486 849 1300
Exceptional Income / Expenses 0 0 0 0 -191 -84 64 -194
Profit Before Tax -24 -184 -210 -585 -50 193 553 1367
Provision for Tax 0 -138 -73 -113 11 11 64 453
Profit After Tax -24 -46 -137 -471 -61 182 489 914
Adjustments -0 -0 -0 -2 38 28 0 60
Profit After Adjustments -24 -47 -138 -474 -23 210 489 974
Adjusted Earnings Per Share -1.5 -0.4 -1 -3 -0.1 1.3 3.1 6.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 64% 36% 59% 0%
Operating Profit CAGR 38% 34% 49% 0%
PAT CAGR 169% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -47% 46% NA% NA%
ROE Average 48% 21% 1% -3%
ROCE Average 8% 9% 7% 6%

Adani Green Energy Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Shareholder's Funds 136 1203 1341 840 763 861 1190
Minority's Interest 0 0 0 -1 -46 -74 0
Borrowings 3541 3663 8373 11041 14203 21085 44141
Other Non-Current Liabilities 409 -134 -231 -298 139 501 1342
Total Current Liabilities 1465 1290 5979 2699 3016 5797 11513
Total Liabilities 5551 6022 15463 14282 18075 28301 58605
Fixed Assets 2775 4341 9120 10388 12554 16429 28452
Other Non-Current Assets 2123 477 2612 1820 2938 7883 23965
Total Current Assets 653 1204 3731 2074 2562 3548 5567
Total Assets 5551 6022 15463 14282 18075 28301 58605

Adani Green Energy Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Opening Cash & Cash Equivalents 0 9 88 251 254 637 184
Cash Flow from Operating Activities -98 28 649 1625 1965 1601 3060
Cash Flow from Investing Activities -4197 -1510 -4428 -2666 -3743 -9225 -19281
Cash Flow from Financing Activities 4304 1559 3942 1045 2161 7083 15986
Net Cash Inflow / Outflow 9 77 162 3 383 -541 -235
Closing Cash & Cash Equivalent 9 85 251 254 637 184 567

Adani Green Energy Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Earnings Per Share (Rs) -1.53 -0.37 -1 -3.03 -0.15 1.34 3.13
CEPS(Rs) -1.17 2.25 2.95 3.78 2.13 4.27 8.55
DPS(Rs) 0 0 0 0 0 0 0
Book NAV/Share(Rs) 8.47 9.44 8.38 5.37 4.88 5.51 7.61
Core EBITDA Margin(%) 48.27 80.37 56.31 74.12 56.89 71.54 68.38
EBIT Margin(%) 52.06 42.57 23.08 28.01 49.39 73.66 61.76
Pre Tax Margin(%) -87.76 -36.66 -14.2 -28.41 -1.96 6.18 10.77
PAT Margin (%) -88.67 -9.22 -9.29 -22.91 -2.39 5.83 9.53
Cash Profit Margin (%) -67.67 57.22 27.39 28.69 13.06 21.38 26.07
ROA(%) -0.44 -0.8 -1.28 -3.17 -0.38 0.78 1.13
ROE(%) -18.07 -6.91 -11.67 -47.29 -7.61 22.41 47.68
ROCE(%) 0.34 4.35 4.08 4.75 8.41 10.72 7.84
Receivable days 849.79 145.79 146.06 142.43 107.24 130.51 117.44
Inventory Days 5296.57 145.93 208.7 162.12 17.17 7.77 1.64
Payable days 0 0 0 365.9 3229.73 577.92 0
PER(x) 0 0 0 0 0 822.45 611.97
Price/Book(x) 0 0 0 6.94 31.5 200.6 251.48
Dividend Yield(%) 0 0 0 0 0 0 0
EV/Net Sales(x) 151.5 10.83 7.29 8.6 15.47 63.03 68.43
EV/Core EBITDA(x) 207.38 9.94 12.19 10.8 21.38 68.73 88.84
Net Sales Growth(%) 0 1716.95 195.08 39.03 23.86 22.56 64.31
EBIT Growth(%) 0 1385.75 59.99 68.74 118.4 82.76 37.77
PAT Growth(%) 0 -88.85 -197.36 -242.95 87.06 398.36 168.68
EPS Growth(%) 0 76.06 -172.6 -203.4 95.15 1012.78 132.86
Debt/Equity(x) 30.47 3.61 7.35 14.57 21.08 29.28 45.05
Current Ratio(x) 0.45 0.93 0.62 0.77 0.85 0.61 0.48
Quick Ratio(x) 0.17 0.93 0.34 0.72 0.81 0.61 0.48
Interest Cover(x) 0.37 0.54 0.62 0.5 0.96 1.09 1.21
Total Debt/Mcap(x) 0 0 0 2.1 0.67 0.15 0.18

Adani Green Energy Shareholding Pattern

# Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
Promoter 74.92 56.29 57.47 60.14 61.27 61.27 60.5 60.75 60.75 57.26
FII 22.78 21.47 20.32 17.83 16.59 16.53 15.91 15.25 15.14 17.13
DII 0.32 0.3 0.3 0.31 0.62 0.79 0.98 1.27 1.4 1.44
Public 1.99 21.94 21.91 21.71 21.51 21.41 22.61 22.73 22.71 24.16
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 21%
  • Debtor days have improved from 577.92 to 0days.

Cons

  • Stock is trading at 26.1 times its book value.
  • The company has delivered a poor profit growth of 0% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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