Adani Green Energy Limited (AGEL), India's largest renewable energy company, has reported a robust financial performance for the first quarter, with significant growth in revenue and net profit.

Strong Financial Performance

The company reported Q1 revenue of 38.00 billion rupees, representing a significant 33% increase from 28.56 billion rupees in the same period last year. AGEL's consolidated net profit rose by 13% year-over-year to 7.13 billion rupees for the quarter ended June 30, up from 6.29 billion rupees in the same period last year. This growth was primarily driven by a significant expansion in operational capacity and improved plant performance.

Revenue and Operational Highlights

AGEL's revenue from power supply saw a substantial increase of 31% year-over-year, reaching 33.12 billion rupees. The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to 30.40 billion rupees from 23.80 billion rupees year-over-year. However, the EBITDA margin declined to 80.05% compared to 85.15% in the previous year's corresponding quarter.

Capacity Expansion and Energy Sales

The company's operational renewable energy capacity expanded by 45% year-over-year to 15,816 MW, marking significant progress towards its 2030 target of 50 GW. This expansion contributed to a 42% increase in energy sales, which reached 10,479 million units during the quarter.

World's Largest Renewable Energy Plant

Adani Green Energy is developing a massive 30 GW renewable energy plant at Khavda in Gujarat, spread over an area of 538 sq km. The company has already achieved an operational capacity of 5.6 GW at this site and is on track to reach the full 30 GW capacity by 2029.

ESG Leadership

Adani Green Energy continues to demonstrate leadership in Environmental, Social, and Governance (ESG) practices. The company now ranks first in the FTSE Russell ESG score in the Alternative Electricity subsector globally. It also won recognition at the Reuters Global Energy Transition Awards.

Management Commentary

Ashish Khanna, CEO of Adani Green Energy, stated, "During Q1, we added 1.6 GW of greenfield renewable energy capacity, bringing our total increase to 4.9 GW over the past year—an achievement unmatched in India's transition toward clean energy. Our investments in the massive RE development at Khavda in Gujarat as well as other resource-rich sites are delivering results both in terms of superior operational performance and industry-best EBITDA margins."

Future Outlook

AGEL remains committed to achieving its 2030 target of 50 GW renewable energy capacity, including at least 5 GW of hydro pumped storage along with battery storage. The company's focus on advanced technologies and operational excellence positions it well for continued growth in India's renewable energy sector.

As Adani Green Energy continues to expand its capacity and improve its financial performance, it is playing a crucial role in India's transition to clean energy and contributing significantly to the country's renewable energy goals.

Adani Green Energy Ltd (AGEL), a leading player in India's renewable energy sector, has made a significant move to strengthen its promoter group's position. The company has allocated more than 1.15 crore equity shares following the conversion of warrants by a promoter group entity, marking a notable shift in its shareholding structure.

Warrant Conversion Details

According to the company's latest regulatory filing, Ardour Investment Holding Ltd, a member of AGEL's promoter group, has exercised and converted 1,15,76,193 convertible warrants into an equal number of equity shares. This conversion represents the final tranche of a larger warrant issue that was initially announced on January 25, 2024.

Financial Implications

The conversion price for these warrants was set at Rs. 1,480.75 per share, with Rs. 370.19 (25% of the issue price) paid at the time of warrant allotment. Ardour has now paid the remaining 75%, amounting to Rs. 1,110.56 per warrant, to complete the conversion process. This transaction has resulted in a significant capital infusion for AGEL, with the total amount raised from this final tranche reaching approximately Rs. 1,285.60 crore.

Impact on Shareholding

The share allocation has had a notable impact on AGEL's shareholding structure:

As evident from the table, the promoter group's stake in AGEL has increased from 62.17% to 62.43% following this allocation.

Corporate Governance and Compliance

The Management Committee of AGEL's Board of Directors approved this allotment during a meeting held on July 17, 2025. The company has emphasized that the entire process has been carried out in compliance with the provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018.

Equity Structure Post-Allocation

Following this allocation, AGEL's equity structure stands as follows:

The newly allotted shares will rank pari passu with the existing equity shares of the company in all respects, including dividend payments and voting rights.

This strategic move by Adani Green Energy Ltd not only strengthens the promoter group's position but also injects substantial capital into the company. As India continues to push for increased renewable energy capacity, AGEL's enhanced financial position could potentially support its growth and expansion plans in the green energy sector.