Adani Green Energy Q2 Profit Soars 25%, Shares Jump

Stock Performance

Shares of Adani Green Energy Ltd (AGEL) jumped 4% to an intraday high of ₹1,041.80 apiece after the renewable energy giant announced a robust performance for the September quarter of FY26. At 9:50 AM, the stock was trading at ₹1,041.80 on the NSE, up 3.74% from the previous close, reflecting investor confidence in the company’s solid financial momentum.

Strong Profit Growth Despite Revenue Dip

Adani Green Energy reported a 25.05% year-on-year rise in consolidated net profit to ₹644 crore for the July–September quarter of FY26, compared to ₹515 crore in the same period last year. However, the firm’s total income declined by 4.3% YoY to ₹3,249 crore, contrasting with ₹3,996 crore in Q2 FY25. Despite the revenue contraction, strong operational performance and margin expansion contributed to higher profitability.

Margin Expansion and Operating Efficiency

The company’s EBITDA rose 9% to ₹2,844 crore in Q2 FY26 from ₹2,608 crore a year earlier. EBITDA margins expanded to 87.5%, a significant improvement over 76.8% in the corresponding quarter last year, underscoring improved cost management and efficiency gains. Revenue from power supply climbed to ₹2,776 crore, up from ₹2,308 crore in Q2 FY25, driven by higher capacity utilization and stable energy offtake.

Operational Highlights: Capacity and Growth

As of September 30, 2025, Adani Green’s operational capacity expanded by 49% to 16.7 GW, keeping the company on track toward its 50 GW target. Energy sales surged 39% year-on-year to 19,569 million units, compared with 14,128 million units a year earlier. The company’s energy mix included contributions from hybrid, wind, and solar sources, showcasing its diversified renewable portfolio.

During the first half of FY26, AGEL added 2,437 MW of greenfield capacity—equivalent to 74% of the total capacity added in FY25. Over the past year, it commissioned 5,496 MW of new capacity, including 4,200 MW of solar power (2,900 MW in Khavda, Gujarat; 1,050 MW in Rajasthan; 250 MW in Andhra Pradesh), 491 MW of wind power, and 805 MW of hybrid solar–wind capacity in Khavda.

Management Commentary: Commitment to Sustainable Expansion

According to the company, growth in revenue, EBITDA, and cash profit was fueled by the addition of 5.5 GW of greenfield capacity, adoption of advanced renewable energy technologies, and the commissioning of projects in resource-rich regions such as Khavda, Gujarat, and Rajasthan.

Ashish Khanna, CEO of Adani Green Energy, stated, “Having already added 2.4 GW of renewable capacity in H1 FY26, we are on course to achieve 5 GW capacity addition this fiscal and advance toward our 50 GW goal by 2030. Our ongoing 30 GW RE plant development at Khavda marks a key milestone in India’s renewable energy journey.”

He further added, “With an operational capacity of 16.7 GW, we continue to be India’s largest renewable energy company. We produced 19.6 billion units of clean energy—enough to power an entire country like Croatia for a year. We are steadily integrating digital technologies and innovation to boost efficiency, project delivery, and safety.”

About Adani Green Energy

Adani Green Energy Ltd (AGEL) is one of India’s largest renewable energy developers, owning and operating utility-scale solar, wind, hybrid, and energy storage systems. With an operational portfolio of over 16.7 GW across 12 states, the company continues to spearhead India’s clean energy transition and contribute to global sustainability goals.

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Sorit Chaudhary

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