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Adani Green Energy (ADANIGREEN) had a P/E of 129.5× on 6 Nov 2026, above the industry P/E of 45.8×, and the shares are 13% below their 52-week high. It earns ROCE of 6.3% and ROE of 7.3%, and sales and net profit grew 17% and 19% a year over 3 years. Debt is 3.75× equity. It is a large-cap company with a market cap of ₹2.3 lakh crore, the largest of 18 Utilities (Renewable) companies by market cap; the shares rose 30% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹1,407.80
Day high
₹1,429.00
Day low
₹1,391.30
Prev. close
₹1,414.90
Volume
13.2 L

Health check

1 good · 1 fair · 4 to check
  • ReturnsAhead

    +30.2% over a year, better than 5 of 7 peers.

  • Price tagPricier

    P/E 129.5 vs industry 45.8.

  • GrowthSteady

    Sales +16.6%, profit +19.3% a year over 3 years.

  • ProfitabilityWeak

    ROCE 6.3% vs peer median 5.0%.

  • Balance sheetStretched

    Debt 3.75× equity, interest covered 1.3×, Piotroski 5 of 9.

  • Red flags4 to check

    Return on equity is low at 7.3%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Utilities - Renewable

17 listed peers. Screen the industry

Large cap

₹2.3L Cr, the largest of 18 in its industry.

Moves with the market

Beta 1.08 vs the NIFTY 50: tracks the market closely.

Key metrics

Last 12 months to Sep 2026: sales ₹14,874 Cr · profit ₹1,801 Cr
Market cap
₹2.3L Cr
Large cap
P/E
129.5
Industry 45.8
Price to book
11.46
Peers 3.17
Dividend yield
0.00%
ROE
7.3%
Peers 6.7%
ROCE
6.3%
Peers 5.0%
Debt to equity
3.75
Debt ₹1.2L Cr
EPS (TTM)
₹11.00
Face value ₹10
OPM (TTM)
90.8%
Net margin 12.6%
Sales growth
+46.0%
Latest quarter vs a year ago
Profit growth
+16.3%
Latest quarter vs a year ago
Price to sales
15.77
EV/EBITDA 28.0

Strengths and risks

Strengths

  • Quarterly sales up 46.0% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Return on equity is low at 7.3%.
  • Debt is 3.75× equity.
  • P/E of 129.5 against an industry P/E of 45.8.
  • Interest coverage of only 1.9×.

Derived automatically from reported figures. Not a recommendation.

About Adani Green Energy

Adani Green Energy Limited generates and supplies renewable energy to central and state government entities and government backed corporations in India. The company develops, builds, owns, operates, and maintains power plants through renewable sources, such as solar, wind, and hybrid. It operates solar power plants with an operational capacity of 10,103 megawatts (MW); wind power plants with an operational capacity of 2,140 MW; and hybrid power plants…

Headquarters
Ahmedabad
Employees
976
Sector
Utilities
ISIN
INE364U01010
Website
adanigreenenergy.com

Price range

52 weeks

₹765.00₹1,631.50

Today

₹1,391.30₹1,429.00
Avg volume (3M)
17.9 L
1-year return
plus 30.2%
From 52-week high
minus 12.7%

Analyst consensus

10 analysts
BuyMean target ₹1,515.80 plus 6.4%

Target range, with today’s price

Low ₹980.00High ₹1,800.00

Next results expected around 20 Jan 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Utilities - Renewable

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ADANIGREENAdani Green Energy1,424.10plus 0.65%2,34,574129.530.66.3%90.8%3.7516.6%plus 30.2%
ENRINSiemens Energy India2,809.00minus 1.75%1,00,03467.263.429.2%21.5%0.04–minus 11.9%
NHPCNHPC82.08plus 1.84%82,45019.123.75.8%46.1%1.132.0%minus 4.2%
NTPCGREENNTPC Green Energy82.63minus 1.27%69,627107.340.52.9%87.5%1.92156.2%minus 16.9%
ACMESOLARACME Solar Holdings394.95minus 3.17%27,88334.224.87.0%86.5%3.3016.0%plus 49.0%
SJVNSJVN57.15minus 0.70%22,45922.716.45.0%67.8%2.2514.6%minus 34.1%
CLEANMAXClean Max Enviro Energy Solutions1,259.70minus 1.32%14,81581.421.84.9%55.5%2.3227.1%plus 47.1%
JNPRJuniper Green Energy255.81plus 0.31%14,556135.343.72.8%64.7%2.84–minus 1.8%
Median of 7 peers–−1.27%27,88367.224.85.0%64.7%2.2516.0%−4.2%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26Sep 26
–2,8242,4333,3284,3234,123
–1,055192446338326
3,0421,7692,2412,8823,9853,797
–62.6%92.1%86.6%92.2%92.1%
206–219225232262
1,525–1,6981,6262,0012,119
767–8868851,0261,084
−17–−11−108−2–
939–−1354881,188856
24.7%–27.4%11.5%22.1%22.3%
713–−41397845673
4.26–-0.382.335.054.00

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+16.6%
Profit CAGR 3Y
+19.3%
EPS CAGR 3Y
+21.3%
ROE
7.3%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
7,7759,22011,04712,326
–+18.6%+19.8%+11.6%
2,2311,8732,1421,476
5,5447,3478,90510,850
71.3%79.7%80.6%88.0%
−4981,085540−1,415
2,6354,1894,8375,860
1,3001,9032,4983,372
315−6691051,798
1,4261,6712,2152,001
31.8%24.6%9.7%0.7%
9741,1001,4441,652
–+12.9%+31.3%+14.4%
5.416.208.379.65

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,5841,5841,5841,647
5,7209,05810,55318,318
54,22464,85879,4471,01,440
5,83313,03819,81422,692
67,36188,5381,11,3981,44,097
53,98169,38595,8251,22,843
5,7247,19016,00220,793
–749898
2,6454,1444,5874,073
5,0117,745−5,114−3,710
67,36188,5381,11,3981,44,097

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
7,2657,7138,95710,135
−3,857−21,060−19,827−26,227
−2,97313,95311,47515,615
435606605−477
−3,376−15,773−24,776−26,097
3,889−8,060−15,819−15,962
–––−188

Shareholding pattern

Source: NSE filings
62.4%
promoters
  • Promoters62.43%
  • Public37.57%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202662.43%37.57%0.00
30 Jun 202662.43%37.57%0.00
31 Mar 202662.43%37.57%0.00
31 Dec 202562.43%37.57%0.00
30 Sep 202562.43%37.57%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you