Adani Green Energy (ADANIGREEN) Q4 25/26 Fixed Income earnings summary

Executive summary

• Achieved record energy sales of 37.6 billion units in FY 2026, a 34% year-over-year increase, driven by significant greenfield capacity additions and strong plant performance.

• Added 5.1 GW of new capacity, bringing total operational capacity to 19.3 GW, marking the highest greenfield annual capacity expansion globally outside China.

• Khavda project advanced with 9.4 GW of solar, wind, and hybrid assets operational and 1.4 GWh of battery storage added, making it one of the world's largest single-location battery projects.

• Recognized for ESG leadership, including Energy Intelligence Top 100 Green Utilities and ESG 1+ rating from CareEdge with a score of 87.3.

Financial highlights

• Revenue from power supply rose 22% year-over-year to INR 11,602 crore.

• EBITDA increased by 23% to INR 10,865 crore, with an EBITDA margin of 91.2%.

Outlook and guidance

• Plans to add 2.5 GW to 5 GW of solar and wind capacity in FY 2027, aligned with available transmission evacuation capacity.

• Targeting an additional 10 GWh of battery storage at Khavda and 500 MW of pumped storage in the coming fiscal year.

• Reaffirmed commitment to reach 50 GW total capacity by 2030.