Adani Green Energy: Why this Adani stock is in focus today
Earlier this month, Adani Green, along with its various stepdown subsidiaries, operationalised an aggregate 200 MW power projects at Khavda, Gujarat.
- Dec 31, 2025,
- Updated Dec 31, 2025 9:14 AM IST
Shares of Adani Green Energy Ltd (AGEL) are in focus on Wednesday after the Adani group company, through its various stepdown subsidiaries, operationalised an aggregate 307.4 MW power projects at Khavda, Gujarat. With commissioning of these plants, AGEL’s total operational renewable generation capacity has increased to 17,237.2 MW.
"Based on the relevant clearances, it was decided at 7.47 a.m. on December 31, 2025 to operationalise these plants and commence power generation from January 01, 2026," Adani Green said in a stock exchange filing.
Adani Green shares are down 3.48 per cent in 2025 so far. Earlier this month, Adani Green via its various stepdown subsidiaries, operationalised an aggregate 200 MW power projects at Khavda, Gujarat.
Given AGEL's strong execution track record, synergies with other group businesses (transmission, distribution, and infrastructure), inventory of 2.5 lakh acres of high-quality RE sites, use of cutting-edge technologies and predictable cash flows, the Adani Green's 50GW ambition by FY30 is achievable, JM Financial said in a note last month.
During the last 3 years, the company’s revenue, Ebitda and PAT has grown at a CAGR of 30 per cent, 36 per cent and 57 per cent, respectively. Ebitda margin improved to 79 per cent and moderation in net debt to Ebidta to 7.4 in FY25. JM Financial sees revenue to grow at 29 per cent, Ebitda at 32 per cent and PAT at 41 per cent, compounded annually, during FY25-28. It sees Ebitda margin at 83 per cent.
At the end of September quarter, Adani Green Energy's RE capacity addition was healthy at 2.4GW H1FY26, keeping its targets of 5GW addition in FY26 and 50GW by 2030 on track, anlaysts noted. The operational capacity at Khavda had reached 7.1 GW, with Khavda and Rajasthan remaining the company’s key sites.
AGEL has 27GW of signed PPAs and 4GW of LOAs, with several LOAs converted into PPAs over the past 6-9 months. For the September quarter, AGEL's consolidated Ebitda rose 17 per cent YoY, led by 49 per cent YoY uptick in operational capacity to 16.7GW. H1FY26 capex stood at Rs 12,300 crore, with FY26 and FY27 capex target at Rs 30,000 and 30,000-35,000 crore. The management reaffirmed its FY26 capacity addition guidance of 5GW, with 2.4GW already added in H1. Target of 30GW by FY30 was intact.
Shares of Adani Green Energy Ltd (AGEL) are in focus on Wednesday after the Adani group company, through its various stepdown subsidiaries, operationalised an aggregate 307.4 MW power projects at Khavda, Gujarat. With commissioning of these plants, AGEL’s total operational renewable generation capacity has increased to 17,237.2 MW.
"Based on the relevant clearances, it was decided at 7.47 a.m. on December 31, 2025 to operationalise these plants and commence power generation from January 01, 2026," Adani Green said in a stock exchange filing.
Adani Green shares are down 3.48 per cent in 2025 so far. Earlier this month, Adani Green via its various stepdown subsidiaries, operationalised an aggregate 200 MW power projects at Khavda, Gujarat.
Given AGEL's strong execution track record, synergies with other group businesses (transmission, distribution, and infrastructure), inventory of 2.5 lakh acres of high-quality RE sites, use of cutting-edge technologies and predictable cash flows, the Adani Green's 50GW ambition by FY30 is achievable, JM Financial said in a note last month.
During the last 3 years, the company’s revenue, Ebitda and PAT has grown at a CAGR of 30 per cent, 36 per cent and 57 per cent, respectively. Ebitda margin improved to 79 per cent and moderation in net debt to Ebidta to 7.4 in FY25. JM Financial sees revenue to grow at 29 per cent, Ebitda at 32 per cent and PAT at 41 per cent, compounded annually, during FY25-28. It sees Ebitda margin at 83 per cent.
At the end of September quarter, Adani Green Energy's RE capacity addition was healthy at 2.4GW H1FY26, keeping its targets of 5GW addition in FY26 and 50GW by 2030 on track, anlaysts noted. The operational capacity at Khavda had reached 7.1 GW, with Khavda and Rajasthan remaining the company’s key sites.
AGEL has 27GW of signed PPAs and 4GW of LOAs, with several LOAs converted into PPAs over the past 6-9 months. For the September quarter, AGEL's consolidated Ebitda rose 17 per cent YoY, led by 49 per cent YoY uptick in operational capacity to 16.7GW. H1FY26 capex stood at Rs 12,300 crore, with FY26 and FY27 capex target at Rs 30,000 and 30,000-35,000 crore. The management reaffirmed its FY26 capacity addition guidance of 5GW, with 2.4GW already added in H1. Target of 30GW by FY30 was intact.