ADANIGREEN
Adani Green share price & financials
- Price
- ₹1,502.4
- Market cap
- ₹2.3L Cr
- Sector
- Power
- Calls analysed
- 8
Adani Green Q1 FY27
What went well
- Energy sales rose 30% Y-o-Y to 13.7 billion units, demonstrating strong operational performance.
- Revenue from power supply increased 29% Y-o-Y to INR 4,280 crores, reflecting robust growth.
- EBITDA from power supply surged 33% Y-o-Y to INR 4,122 crores, achieving an impressive 94% EBITDA margin.
What to watch
- Curtailment had an impact of 5-7% on overall EBITDA, though management expects it to be resolved by calendar year-end.
What Adani Green does
Adani Green Energy is India's largest renewable-energy independent power producer, developing, owning and operating utility-scale solar, wind, solar-wind hybrid and pumped-storage plants. It sells the electricity generated mainly under long-term, 25-year fixed-tariff power purchase agreements, with a smaller share sold to merchant and commercial-and-industrial buyers. Its assets are spread across 12 resource-rich states and are anchored by the world's largest single-location 30 GW renewable project under development at Khavda, Gujarat.
Segments
- Solar
- Wind
- Solar-Wind Hybrid
- Pumped Storage (PSP)
- Market position
- India's largest renewable energy portfolio
- Operational capacity (as on Dec-25)
- 17.2 GW
- States with RE assets
- 12 resource-rich states
- Flagship project
- World's largest single-location 30 GW RE project at Khavda, Gujarat
- Solar & wind sites secured for future addition
- 23 GW in Gujarat + 10+ GW in Rajasthan
- Pumped-storage sites secured
- 5+ GW
Guidance record · Q1 FY27
what the last two calls moved 17 tracked 2 delivered 3 missed 12 open- FY26 Capacity Addition delivered said Q3 FY25 Promised: 6-8 GW range for FY26 Q1 FY27: Historical target, successfully met in FY26.
- FY25 Capacity Addition missed said Q2 FY25 Promised: 6 GW capacity addition in FY25 Q1 FY27: Historical target, no longer active.
- Total Capacity by 2030 on track said Q4 FY25 Promised: 50 GW total capacity by 2030 Q1 FY27: Company surpassed 20 GW milestone, reiterating commitment to the 50 GW target.
All 17 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 16.6%, net profit up 19.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,005 | 2,340 | 3,073 | 3,800 | 3,008 +0% | 2,618 +12% | 3,502 +14% | 4,431 +17% |
| EBITDA | 2,217 | 1,880 | 2,402 | 3,042 | 2,603 +17% | 2,241 +19% | 2,882 +20% | 3,985 +31% |
| Net profit | 515 | 474 | 383 | 824 | 644 +25% | 5 −99% | 514 +34% | 983 +19% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +33.0% 1Y
1Y: ₹963.35 on 10 Sept 2025 → ₹1,281.3. High ₹1,604.5 (14 Jul 2026), low ₹772.8 (23 Jan 2026).
How the price took the results
close before → close after
- Q1 FY27
- −4.5%
- 22 Jul
- Q4 FY26
- +1.8%
- 24 Apr
- Q3 FY26
- −14.5%
- 23 Jan
- Q2 FY26
- +10.8%
- 29 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 18.4% a year over 3 years, FY23 to FY26. Operating margin widened to 83.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹7.8k Cr | ₹9.2k Cr | ₹11.2k Cr | ₹12.9k Cr |
| Operating profit | ₹4.9k Cr | ₹7.3k Cr | ₹8.9k Cr | ₹10.8k Cr |
| Operating margin | 63.3% | 79.0% | 79.2% | 83.3% |
| Interest | ₹2.9k Cr | ₹5.0k Cr | ₹5.5k Cr | ₹6.5k Cr |
| Depreciation | ₹1.3k Cr | ₹1.9k Cr | ₹2.5k Cr | ₹3.4k Cr |
| Net profit | ₹973 Cr | ₹1.3k Cr | ₹2.0k Cr | ₹2.0k Cr |
| Net margin | 12.5% | 13.7% | 17.8% | 15.4% |
| ROCE | 8.0% | 10.0% | 9.0% | 7.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1.6k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.6k Cr |
| Reserves | ₹636 Cr | ₹1.1k Cr | ₹5.7k Cr | ₹8.3k Cr | ₹17.9k Cr | ₹18.3k Cr |
| Borrowings | ₹24.2k Cr | ₹52.8k Cr | ₹54.2k Cr | ₹64.9k Cr | ₹88.2k Cr | ₹103.5k Cr |
| Other liabilities | ₹2.3k Cr | ₹3.5k Cr | ₹5.4k Cr | ₹13.4k Cr | ₹18.2k Cr | ₹19.5k Cr |
| Total liabilities | ₹28.7k Cr | ₹59.0k Cr | ₹66.9k Cr | ₹88.1k Cr | ₹125.9k Cr | ₹143.0k Cr |
| Fixed assets | ₹16.4k Cr | ₹28.5k Cr | ₹48.3k Cr | ₹62.3k Cr | ₹88.4k Cr | ₹102.1k Cr |
| Capital work in progress | ₹4.5k Cr | ₹19.9k Cr | ₹5.3k Cr | ₹6.4k Cr | ₹16.7k Cr | ₹19.0k Cr |
| Investments | ₹502 Cr | ₹574 Cr | ₹1.1k Cr | ₹1.5k Cr | ₹3.0k Cr | ₹3.0k Cr |
| Other assets | ₹7.3k Cr | ₹10.0k Cr | ₹12.1k Cr | ₹17.9k Cr | ₹17.7k Cr | ₹18.8k Cr |
| Total assets | ₹28.7k Cr | ₹59.0k Cr | ₹66.9k Cr | ₹88.1k Cr | ₹125.9k Cr | ₹143.0k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −2.74 pp while DIIs added +1.96 pp. The shareholder count shrank 19% to 7,99,143.
- Promoters
- 62.4%
- FIIs
- 11.8%
- DIIs
- 4.8%
- Public
- 20.9%
Since Jun 2025
- Public −2.74 pp
- DIIs +1.96 pp
- Promoters +0.52 pp
How it drifted, 12 quarters
Over this window FIIs fell from 18.2% to 11.8% — −6.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 56.3%, FIIs 18.2%, DIIs 1.5%, Public 24.1%.Dec '23: Promoters 56.4%, FIIs 18.0%, DIIs 1.5%, Public 24.1%.Mar '24: Promoters 56.4%, FIIs 18.1%, DIIs 1.6%, Public 23.9%.Jun '24: Promoters 57.5%, FIIs 16.9%, DIIs 1.5%, Public 24.1%.Sep '24: Promoters 60.9%, FIIs 15.2%, DIIs 1.4%, Public 22.4%.Dec '24: Promoters 60.9%, FIIs 13.7%, DIIs 1.7%, Public 23.6%.Mar '25: Promoters 60.9%, FIIs 12.4%, DIIs 2.4%, Public 24.2%.Jun '25: Promoters 61.9%, FIIs 11.6%, DIIs 2.9%, Public 23.6%.Sep '25: Promoters 62.4%, FIIs 11.3%, DIIs 3.0%, Public 23.3%.Dec '25: Promoters 62.4%, FIIs 11.4%, DIIs 4.3%, Public 21.8%.Mar '26: Promoters 62.4%, FIIs 11.1%, DIIs 4.6%, Public 21.9%.Jun '26: Promoters 62.4%, FIIs 11.8%, DIIs 4.8%, Public 20.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Adani Infra (India) Limited newly disclosed 1.31% held
- Quant Mutual Fund - Quant Small Cap Fund Mutual fund +0.20 pp 1.99% held
- Pranav Vinod Adani newly disclosed 0.00% held
- Sagar Rajeshbhai Adani newly disclosed 0.00% held
- Jeet Gautam Adani newly disclosed 0.00% held
- Karan Gautam Adani newly disclosed 0.00% held
The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Adani Green above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Adani Trading Services Llp | 28.80% | unchanged |
| Gautambhai Shantilal Adani and Rajeshbhai Shantilal Adani (on behalf of S.B. Adani Family Trust) | 19.96% | unchanged |
| Totalenergies Renewables Indian Ocean Ltd | 13.84% | unchanged |
| Ardour Investment Holding Ltd | 5.04% | −1.31 pp |
| Spitze Trade And Investment Limited | 4.93% | unchanged |
| Totalenergies Solar Wind Indian Ocean Ltd | 3.41% | unchanged |
| Inq Holding Llc FPI fund | 2.59% | unchanged |
| Goldman Sachs Trust Ii - Goldman Sachs Gqg Partners International Opportunities Fund Global fund house | 2.24% | −0.46 pp |
| Quant Mutual Fund - Quant Small Cap Fund Mutual fund | 1.99% | +0.20 pp |
| Gqg Partners Emerging Markets Equity Fund Global fund house | 1.58% | −0.26 pp |
| Hibiscus Trade And Investment Ltd | 1.57% | unchanged |
| Adani Infra (India) Limited | 1.31% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in ADANIGREEN
Filings to Aug 2026
0 new, 7 added, 4 trimmed, 0 sold out — net +4.60 L shares (+6.7%).
- Held by funds
- ₹906 Cr
- 13 schemes
- Biggest holder
- SBI Arbitrage Fund
- ₹454 Cr · 1.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Arbitrage Fund SBI Mutual Fund | ₹454 Cr | +4.49 L | Dec '24 |
| Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund | ₹144 Cr | +0.38 L | Oct '20 |
| Nippon India Arbitrage Fund Nippon India Mutual Fund | ₹84 Cr | −0.25 L | Apr '25 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹56 Cr | −0.15 L | Mar '25 |
| SBI Nifty Next 50 ETF SBI Mutual Fund | ₹49 Cr | +0.01 L | Aug '21 |
| SBI Equity Savings Fund SBI Mutual Fund | ₹49 Cr | held | Feb '25 |
| SBI Nifty Next 50 Index Fund SBI Mutual Fund | ₹38 Cr | +0.13 L | Aug '21 |
| HDFC Infrastructure Fund HDFC Mutual Fund | ₹23 Cr | held | Jun '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
7 added, 4 trimmed — net +4.60 L shares (+6.7%)
- Funds are sitting on
- +35%
- vs est. average cost
- Held by funds
- ₹906 Cr
- 13 schemes · ≈ 0.48% of the company
- Biggest holder
- SBI Arbitrage Fund
- ₹454 Cr · 1.0% of that fund
- Longest holder
- Nippon India ETF Nifty Next 50 Junior BeES
- 5y 11m · since Oct '20
Shares held by these funds +966%
Aug '23 69.00 L shares Jul '26
All earnings calls (8)
Read the Q1 FY27 call →Learn to analyse Adani Green
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