2 reasons why Adani Green Energy shares are in focus today; target price

Adani Green Energy shares are in focus on Tuesday after the company issued a clarification on the US Securities and Exchange Commission’s motion for service by alternative methods and informed stock exchanges about the operationalisation of a 50 MW solar power project at Khavda in Gujarat. 

Adani Green said counsel for Gautam Adani and Sagar Adani are in discussions with the SEC on procedural matters regarding the SEC’s motion and the concerned court has been requested not to decide the SEC’s Motion pending the filing of an application. 

"As mentioned earlier, the company is not a party to these civil proceedings, and no charges have been brought against the company," Adani Green said.

In another filing, Adani Green noted the company is not a party to the proceedings, and no charges have been brought against it. "Further, as clarified in our intimation to the stock exchanges dated November 27, 2024 (1:16:32hrs), the Defendants have not been charged with violation/(s) of the United States Foreign Corrupt Practices Act i.e. there are no charges of bribery or corruption against the Defendants. The SEC proceedings are civil in nature," Adani Green said.

Adani Green concluded the media report does not have any adverse impact on the business or operations of the company.

Power project
Meanwhile, Adani Green Energy Twenty Six A Limited (AGE26AL), a wholly-owned stepdown subsidiary of Adani Green Energy Limited operationalised solar power project of 50 MW at Khavda, Gujarat. With commissioning of this plant, Adani Green said its total operational renewable generation capacity has increased to 17,287.2 MW. "Based on the relevant clearances, it was decided at 10.49 a.m. on January 25, 2026 to operationalise this plant and commence power generation from January 25, 2026," it said.

Adani Green target price
Emkay Global has rolled forward its earnings estimates to December 2026, cutting its target price by 10 per cent for Adani Green Energy to Rs 1,350 from Rs 1,500 earlier, valuing the stock at 12 times EV/Ebitda against 13 times earlier. It retained 'Buy' on the stock.  

The brokerage largely retained its FY27-28E earnings, but lowered FY26 Ebitda by 14 per cent, factoring in the 9MFY26 run-rate and curtailment challenges.

On Q3 earnings, Emkay Global said AGEL faced curtailment issues in Q3FY26 due to seasonality, but the situation is expected to improve in Q4.

"AGEL’s consolidated Q3FY26 Ebitda rose 19 per cent YoY to Rs 2,240 crore, led by 49 per cent YoY uptick in operational capacity to 17.2GW. YoY power sales growth was slower at 35 per cent, as CUFs (especially wind CUF) were hit by seasonality, besides lower grid availability due to curtailment in solar," It said.

The stock settled at Rs 772.10 on Friday, down 15 per cent.