Any current/future new fundraising through debt or equity?

No explicit mention of new fundraising through equity or debt in the transcript. The company discussed capex plans for FY27, including adding 4.5 to 5 GW of solar and wind capacity aligned with evacuation capacity. Battery storage expansion planned to add 10 GWh capacity by end of FY27. No detailed discussion on raising new debt or equity; focus was on funding plans for capex including average cost of debt and maturities, but specifics were not disclosed. Adani Green demonstrated strong financial discipline with good credit ratings (JCR BBB+ with stable outlook). Overall, no direct indication

Any current/future capex/capital investment/strategic investment?

Planning to end FY26 with 10 gigawatt hour battery storage capacity, expanding from current ~3 GWh. Maiden 500 megawatt pump storage project at Chitravathi, Andhra Pradesh, to be completed this fiscal year. Greenfield capacity additions planned at 4.5 to 5.0 gigawatt for solar and wind in FY27, aligned with evacuation capacity. Commitment to achieve 50 gigawatt total renewable capacity by 2030. Continued investment in advanced technologies, digitization, and predictive maintenance. Focus on expanding battery capacity at Khavda with plans to add 10 GWh storage. Strategic alignment of capacity a

Future growth expectations in sales/revenue/volumes?

Adani Green Energy expects continued robust growth aligned with India's energy transition goals. Energy sales surged 34% YoY in FY26, reaching 37.6 billion units, indicating strong demand growth. Revenue from power supply grew 22% YoY to INR 11,602 crores, with EBITDA up 23% to INR 10,865 crores. The company added 5.1 GW of greenfield capacity in FY26 (35% YoY growth), aiming to add 4.5 to 5 GW annually going forward. Battery storage capacity is planned to increase aggressively, targeting 10 gigawatt hours by the end of FY27 at Khavda. Plans include a 500 MW pump storage project in FY27, suppo

Future growth expectations in earnings/operating earnings/profits/EPS?

Adani Green Energy showed strong operational and financial performance in FY26 with a 34% YoY surge in energy sales and a 22% YoY increase in revenue from power supply to INR 11,602 crores. EBITDA grew by 23% to INR 10,865 crores with a margin of 91.2%, indicating high profitability and operating efficiency. The company plans to continue greenfield capacity additions at 4.5-5.0 GW annually in solar and wind, aligned with evacuation capacities, supporting future revenue and earnings growth. Battery storage capacity is expected to expand significantly from current 3 GWh to 10 GWh by year-end, fu

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Adani Green Energy LtdQ1 FY26Power

Adani Green Energy Ltd Q1 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1,525P/E: 125.4Market Cap: ₹2.3L CrSector: Power

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→Adani Green Energy expects continued robust growth aligned with India's energy transition goals.
→Energy sales surged 34% YoY in FY26, reaching 37.6 billion units, indicating strong demand growth.
→Revenue from power supply grew 22% YoY to INR 11,602 crores, with EBITDA up 23% to INR 10,865 crores.
→The company added 5.1 GW of greenfield capacity in FY26 (35% YoY growth), aiming to add 4.5 to 5 GW annually going forward.
→Battery storage capacity is planned to increase aggressively, targeting 10 gigawatt hours by the end of FY27 at Khavda.
→Plans include a 500 MW pump storage project in FY27, supporting operational expansion.
→Overall, AGEL targets 50 GW capacity by 2030, supporting sustained volume, revenue, and sales growth.

Margin guidance

Category 3

→Adani Green Energy showed strong operational and financial performance in FY26 with a 34% YoY surge in energy sales and a 22% YoY increase in revenue from power supply to INR 11,602 crores.
→EBITDA grew by 23% to INR 10,865 crores with a margin of 91.2%, indicating high profitability and operating efficiency.
→The company plans to continue greenfield capacity additions at 4.5-5.0 GW annually in solar and wind, aligned with evacuation capacities, supporting future revenue and earnings growth.
→Battery storage capacity is expected to expand significantly from current 3 GWh to 10 GWh by year-end, further enhancing operating capabilities and potential revenue streams.
→With demonstrated execution capability and sector leadership, Adani Green is on course to achieve 50 GW capacity by 2030, underpinning long-term growth in earnings and profits.
→The stable credit rating equivalent to the sovereign rating supports financial discipline and access to cost-effective funding, enabling sustainable growth.

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Fundraise plans

Yes

→No explicit mention of new fundraising through equity or debt in the transcript.
→The company discussed capex plans for FY27, including adding 4.5 to 5 GW of solar and wind capacity aligned with evacuation capacity.
→Battery storage expansion planned to add 10 GWh capacity by end of FY27.
→No detailed discussion on raising new debt or equity; focus was on funding plans for capex including average cost of debt and maturities, but specifics were not disclosed.
→Adani Green demonstrated strong financial discipline with good credit ratings (JCR BBB+ with stable outlook).
→Overall, no direct indication of new fundraising activities through fresh debt or equity in the call.

Order book

The transcript does not provide explicit details on the current or expected order book/pending orders for Adani Green Energy Limited. However, relevant points related to capacity additions and projects indicate: - Operational portfolio stands at 19.3 GW, powering 8.7 million homes. - Added 5.1 GW capacity in FY26 (35% YoY growth). - Planning to add 4.5 to 5.0 GW of solar and wind capacity in FY27, aligned with evacuation constraints. - Battery storage capacity to increase to 10 GWh by end of FY27 (up from current ~3 GWh). - Maiden 500 MW pump storage project at Chitravathi expected to be completed in FY27. - Khavda project includes 9.4 GW of solar, wind, and hybrid assets operational. These points indicate a strong project pipeline aligned with the company’s goal of 50 GW capacity by 2030, but exact order book size is not disclosed.

Capex plans

Yes

→Planning to end FY26 with 10 gigawatt hour battery storage capacity, expanding from current ~3 GWh.
→Maiden 500 megawatt pump storage project at Chitravathi, Andhra Pradesh, to be completed this fiscal year.
→Greenfield capacity additions planned at 4.5 to 5.0 gigawatt for solar and wind in FY27, aligned with evacuation capacity.
→Commitment to achieve 50 gigawatt total renewable capacity by 2030.
→Continued investment in advanced technologies, digitization, and predictive maintenance.
→Focus on expanding battery capacity at Khavda with plans to add 10 GWh storage.
→Strategic alignment of capacity additions with transmission and market evacuation constraints.

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