Adani Green Energy

₹968.7 -7.5 | 0.8%

WEBSITE BSE:541450 NSE : ADANIGREEN 09 Jun, 13:11

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

Edit Ratio

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.

Adani Green Energy Share Price

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Price

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Peer Comparison

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

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	117.17	88.04	89.88	94.06	95.83	95.83	95.83	96.23	96.23	90.71
FII	35.63	33.57	31.78	27.89	25.95	25.85	25.2	24.15	23.98	27.14
DII	0.49	0.48	0.47	0.49	0.97	1.24	1.55	2.01	2.22	2.29
Public	3.1	34.31	34.27	33.96	33.65	33.48	35.82	36.01	35.97	38.27
Others	0	0	0	0	0	0	0	0	0	0
Total	156.4	156.4	156.4	156.4	156.4	156.4	158.4	158.4	158.4	158.4

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.