Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Adani Green Energy Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,598 | 2,162 | 2,220 | 2,311 | 2,527 | 2,794 | 3,005 | 2,340 | 3,073 | 3,800 | 3,008 | 2,618 | 3,502 |
| Expenses + | 334 | 81 | 521 | 645 | 693 | 415 | 788 | 460 | 671 | 758 | 405 | 377 | 620 |
| Operating Profit | 2,264 | 2,081 | 1,699 | 1,666 | 1,834 | 2,379 | 2,217 | 1,880 | 2,402 | 3,042 | 2,603 | 2,241 | 2,882 |
| OPM % | 87% | 96% | 77% | 72% | 73% | 85% | 74% | 80% | 78% | 80% | 87% | 86% | 82% |
| Other Income + | 265 | 178 | 353 | 264 | 234 | 271 | 294 | 280 | 39 | 189 | 158 | 208 | 117 |
| Interest | 1,338 | 1,393 | 1,165 | 1,242 | 1,224 | 1,426 | 1,448 | 1,251 | 1,368 | 1,525 | 1,635 | 1,698 | 1,626 |
| Depreciation | 392 | 451 | 474 | 481 | 497 | 596 | 621 | 618 | 663 | 767 | 834 | 886 | 885 |
| Profit before tax | 799 | 415 | 413 | 207 | 347 | 628 | 442 | 291 | 410 | 939 | 292 | -135 | 488 |
| Tax % | 38% | 34% | 29% | 33% | 24% | 28% | 6% | -37% | 29% | 25% | -81% | -27% | 11% |
| Net Profit + | 507 | 323 | 371 | 256 | 310 | 629 | 515 | 474 | 383 | 824 | 644 | 5 | 514 |
| EPS in Rs | 3.21 | 2.03 | 2.35 | 1.62 | 0.95 | 2.82 | 1.74 | 3.11 | 1.45 | 4.39 | 3.54 | -0.25 | 2.41 |
Financials of Adani Green Energy Ltd
Annual income statement trend
| Mar 2016 15m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 28 | 502 | 1,480 | 2,058 | 2,549 | 3,124 | 5,133 | 7,776 | 9,220 | 11,212 | 12,928 |
| Expenses + | 14 | 98 | 637 | 532 | 1,099 | 883 | 1,621 | 2,806 | 1,881 | 2,323 | 2,160 |
| Operating Profit | 13 | 403 | 843 | 1,526 | 1,450 | 2,241 | 3,512 | 4,970 | 7,339 | 8,889 | 10,768 |
| OPM % | 48% | 80% | 57% | 74% | 57% | 72% | 68% | 64% | 80% | 79% | 83% |
| Other Income + | 7 | 80 | 42 | 73 | -111 | 391 | 507 | 667 | 1,323 | 1,316 | 672 |
| Interest | 23 | 334 | 552 | 1,121 | 995 | 1,953 | 2,617 | 2,911 | 5,088 | 5,492 | 6,484 |
| Depreciation | 6 | 333 | 543 | 1,062 | 394 | 486 | 849 | 1,300 | 1,903 | 2,498 | 3,372 |
| Profit before tax | -9 | -184 | -210 | -585 | -50 | 193 | 553 | 1,426 | 1,671 | 2,215 | 1,584 |
| Tax % | 3% | -75% | -35% | -19% | 22% | 6% | 12% | 32% | 25% | 10% | 1% |
| Net Profit + | -9 | -47 | -138 | -475 | -68 | 182 | 489 | 973 | 1,260 | 2,001 | 1,987 |
| EPS in Rs | -0.58 | -0.37 | -1.00 | -3.03 | -0.15 | 1.34 | 3.13 | 6.15 | 6.94 | 9.12 | 10.03 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Adani Green Energy Ltd
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 160 | 1,274 | 1,564 | 1,564 | 1,564 | 1,564 | 1,564 | 1,584 | 1,584 | 1,584 | 1,647 |
| Reserves | -9 | -71 | -223 | 369 | 792 | 636 | 1,050 | 5,720 | 9,058 | 10,553 | 18,318 |
| Borrowings + | 4,132 | 4,347 | 9,864 | 11,142 | 14,867 | 24,209 | 52,832 | 54,223 | 64,858 | 80,040 | 103,545 |
| Other Liabilities + | 1,286 | 610 | 4,503 | 1,582 | 1,201 | 2,283 | 3,508 | 5,382 | 12,586 | 18,587 | 20,587 |
| Total Liabilities | 5,569 | 6,160 | 15,709 | 14,658 | 18,424 | 28,692 | 58,954 | 66,909 | 88,086 | 110,764 | 144,097 |
| Fixed Assets + | 2,781 | 4,341 | 9,120 | 10,388 | 12,554 | 16,429 | 28,452 | 48,336 | 62,284 | 79,914 | 102,153 |
| CWIP | 1,962 | 267 | 1,725 | 743 | 1,208 | 4,452 | 19,899 | 5,291 | 6,427 | 14,480 | 19,016 |
| Investments | 7 | 26 | 87 | 77 | 477 | 502 | 574 | 1,149 | 1,515 | 2,743 | 2,983 |
| Other Assets + | 819 | 1,525 | 4,777 | 3,449 | 4,185 | 7,309 | 10,029 | 12,133 | 17,860 | 13,627 | 19,945 |
| Total Assets | 5,569 | 6,160 | 15,709 | 14,658 | 18,424 | 28,692 | 58,954 | 66,909 | 88,086 | 110,764 | 144,097 |
Financials of Adani Green Energy Ltd
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 28 | 649 | 1,625 | 1,965 | 1,601 | 3,127 | 7,265 | 7,713 | 8,364 | 10,135 | |
| Cash from Investing Activity + | -1,511 | -4,428 | -2,666 | -3,743 | -9,137 | -18,730 | -3,857 | -21,060 | -19,828 | -26,227 | |
| Cash from Financing Activity + | 1,559 | 3,942 | 1,045 | 2,161 | 7,083 | 15,986 | -2,973 | 13,953 | 12,068 | 15,615 | |
| Net Cash Flow | 76 | 162 | 3 | 383 | -453 | 383 | 435 | 606 | 604 | -477 | |
| Free Cash Flow | -889 | -3,763 | -1,244 | -1,431 | -4,529 | -11,728 | 3,927 | -7,987 | -16,397 | -15,774 | |
| CFO/OP | 7% | 78% | 108% | 137% | 72% | 90% | 146% | 106% | 97% | 95% |
Financials of Adani Green Energy Ltd
Working capital efficiency and return ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 850 | 245 | 209 | 134 | 106 | 175 | 129 | 104 | 53 | 50 | 60 |
| Inventory Days | 383 | ||||||||||
| Days Payable | 455 | ||||||||||
| Cash Conversion Cycle | 850 | 245 | 209 | 63 | 106 | 175 | 129 | 104 | 53 | 50 | 60 |
| Working Capital Days | -12,275 | -218 | -678 | -182 | -193 | -407 | -576 | -175 | -905 | -436 | -323 |
| ROCE % | 2% | 4% | 4% | 8% | 10% | 8% | 8% | 10% | 9% | 7% |