Adani Green Energy (ADANIGREEN) Q2 26/27 earnings summary

Executive summary

• H1 FY27 operational capacity reached 20,763 MW, up 24% YoY; energy sales rose 32% to 25,747 MU.

• H1 power-supply revenue increased 36% to ₹8,299 crore and EBITDA rose 41% to ₹7,957 crore; grid curtailment constrained generation.

Financial highlights

• Q2 power-supply revenue grew 45% YoY to ₹4,019 crore and EBITDA rose 51% to ₹3,835 crore.

• H1 cash profit increased 35% YoY to ₹4,176 crore; Q2 cash profit rose 45% to ₹1,951 crore.

• Consolidated revenue from operations was ₹4,258 crore in Q2 and ₹8,689 crore in H1; consolidated profit was ₹747 crore and ₹1,730 crore, respectively.

• H1 energy sales rose 32% to 25,747 MU, supported by 4,083 MW of greenfield additions.

Outlook and guidance

• FY27 commissioning target remains 4.5–5 GW, conditional on Phase III evacuation availability by Q4.

• FY27 BESS capacity is targeted to exceed 10 GWh; the longer-term target is 50 GWh within five years.

• 2030 plans target 50 GW of renewable capacity, including 5 GW of pumped storage; Khavda development targets 30 GW by 2029.

• The ₹2.4 lakh crore CapEx program through FY2030 remains on track, with focus on renewables, BESS and pumped storage.