- For the first half of the financial year 2024-25 (H1FY25), the company’s net profit soared 65 percent to ₹1,144 crore as against ₹694 crore in the same period last year
NE BUSINESS BUREAU
AHMEDABAD, OCT 22
Adani Green Energy Ltd (AGEL), India’s largest and fastest-growing pure-play renewable energy company, on Tuesday reported its net profit stood at ₹515 crore for the quarter ending 30 September 2024,, up 39 percent year-on-year (YoY) from ₹371 crore in the same year ago period, showcasing significant growth and operational excellence.
Meanwhile, the renewable power firm’s total income increased by 30.4 percent to ₹3,376 crore as against ₹2,589 crore in the same period last year. However, its total expenses also witnessed a 31.3 percent on-year growth to ₹2,837 crore versus ₹2,160 crore in Q2FY24. Furthermore, AGEL has maintained an industry-leading EBITDA margin of 92.2%, underscoring its operational efficiency and commitment to cost management.
For the first half of the financial year 2024-25 (H1FY25), the company’s net profit soared 65 percent to ₹1,144 crore as against ₹694 crore in the same period last year. Moreover, its total income for H1FY25 came in at ₹6,476 crore, up 30 percent from ₹4,979 crore in H1FY24.
FINANCIAL PERFORMANCE – Q2 & H1 FY25:
(Rs. in crore)
| Particulars | Quarterly Performance | Half Yearly Performance | ||||
| Q2 FY24 | Q2 FY25 | % change | H1 FY24 | H1 FY25 | % change | |
| Revenue from Power Supply | 1,984 | 2,309 | 16% | 4,029 | 4,836 | 20% |
| EBITDA from Power Supply 1 | 1,835 | 2,143 | 17% | 3,775 | 4,518 | 20% |
| EBITDA from Power Supply (%) | 91.3% | 91.7% | 92.2% | 92.2% | ||
| Cash Profit 2 | 1,030 | 1,249 | 21% | 2,082 | 2,640 | 27% |
Commenting on the results, Amit Singh, CEO of Adani Green Energy Ltd, stated “Our financial performance continues to be strong, driven by significant greenfield capacity additions and robust operational efficiency. Entering the C&I space by signing our first contract underscores our commitment to decarbonizing industries, with plans to expand our merchant and C&I exposure to 15% by 2030. Our growth is driven by a robust capital management plan with utmost credit discipline. Having delivered the intended capacity growth, we completely redeemed the USD 750 mn Holdco bond in line with our commitment, resulting in systematic deleveraging.”
He further said “We remain focused on best-in-class sustainability and governance practices, and the reaffirmation of our top rankings by global ESG rating agencies only strengthens our resolve to deliver sustainable and industry-leading growth. Adani Green is well on track to achieve its 2030 RE capacity target of 50 GW, including at least 5 GW of energy storage.”
The company’s operational capacity grew significantly by 34% YoY, reaching 11,184 megawatts (MW). This expansion was driven by substantial greenfield additions, including 2,000 MW of solar capacity and 250 MW of wind capacity in Khavda, along with 418 MW of solar capacity in Rajasthan and 200 MW of wind capacity in Gujarat.
In line with this operational growth, AGEL achieved a remarkable 20% YoY increase in energy sales, totalling 14,128 million units. This surge in sales was largely attributed to the company’s robust capacity additions and strong operational performance, reflecting AGEL’s effective resource planning, engineering, and supply chain management strategies. The company’s cash profits also witnessed a notable rise, increasing by 27% YoY to reach ₹2,640 crores, further highlighting its financial strength.
On the financial front, AGEL has taken significant steps towards deleveraging by fully redeeming a USD 750 million Holdco bond, further strengthening its balance sheet and financial position.
