Adani Green Energy shares gain 4% ahead of Q1 earnings; check details

Shares of Adani Green Energy Ltd rose over 4% ahead of the Adani Group firm’s June quarter earnings set to be announced today. Adani Green Energy stock zoomed 4.22% to Rs 1,137.85 against the previous close of Rs 1091.75 on BSE. Market cap of the firm climbed to Rs 1.76 lakh crore. Total 0.44 lakh shares changed hands amounting to a turnover of Rs 1.76 lakh crore.   

The Adani Green Energy stock opened higher at Rs 1114.65 on BSE today. Adani Green Energy shares have lost 48.82 per cent in a year and fallen 41.25 percent since the beginning of this year. The large-cap stock hit a 52-week high of Rs 2574.05 on August 23, 2022 and a 52-week low of Rs 439.35 on February 28, 2023. 

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In terms of technicals, the relative strength index (RSI) of Adani Green Energy stands at 68.6, signaling neither the stock is overbought nor oversold. The stock has been highly volatile with its beta at 1.2 in the last one year. Adani Green shares are trading higher than the 5 day, 20 day, 50 day, 100 day, 150 day moving averages but lower than the 200 day moving averages.    

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In the fourth quarter of last fiscal, the firm reported a 319% rise in consolidated net profit at Rs 507 crore mainly on the back of higher revenues. It reported consolidated net profit of Rs 121 crore in the year-ago period. The Adani firm's total income rose 88% to Rs 2,988 crore in Q4FY23 as compared to Rs 1,587 crore in Q4FY22.  

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In FY23, the firm reported an EBITDA of Rs 5,538 crore, up by 57% YoY, due to "robust growth in revenues, EBITDA and cash profit". 

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The sale of energy, according to the company rose 58% YoY to 14,880 mn units in FY23 primarily backed by strong capacity addition, analytics driven O&M enabling high plant availability and deployment of latest renewable technologies. 

Rolling out its Q1 updates for the current fiscal, the Adani group firm told bourses that its sale of energy increased 70 per cent YoY at 6,023 million units compared with 3,550 million units in the corresponding quarter last year. The operational capacity jumped 43 per cent to 8,316 MW YoY, with the addition of 1,750 MW solar–wind Hybrid, 212 MW solar and 554 MW wind power plants, the Gautam Adani-led company said. 

Adani Green Energy said its solar portfolio capacity utilisation factor (CUF) at stood at 26.9 per cent for the quarter with 40 basis points (bps) improvement YoY, backed by 99.7 per cent plant availability. Adani Green Energy said its wind portfolio CUF stood at 38.7 per cent with 830 basis points reduction YoY. The reduction was primarily due to relatively lower wind speed, which was higher last year, Adani Green Energy said. 

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