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Last Updated on: 30 May, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 541450 | NSE: ADANIGREEN

Fundamental Analysis of Adani Green Energy Ltd

Basic Stock Data of Adani Green Energy Ltd

Last Updated: May 28, 2024, 8:31 pm

Market Cap 3,09,092 Cr.
Current Price 1,951
High / Low2,019/816
Stock P/E188
Book Value 50.1
Dividend Yield0.00 %
ROCE7.81 %
ROE22.8 %
Face Value 10.0
PEG Ratio3.15

Competitors of Adani Green Energy Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
India Power Corporation Ltd 1,728 Cr. 17.828.0/9.75119 10.40.28 %3.77 %1.14 % 1.00
SJVN Ltd 56,923 Cr. 145170/35.363.7 36.51.22 %9.27 %10.3 % 10.0
Adani Power Ltd 2,47,616 Cr. 642646/18510.6 1050.00 %15.8 %44.8 % 10.0
KKV Agro Powers Ltd 70.3 Cr. 1,2401,365/54356.7 3820.40 %12.2 %5.89 % 10.0
NHPC Ltd 1,02,911 Cr. 102116/42.828.4 38.51.81 %7.37 %9.59 % 10.0
Industry Average81,849.66 Cr429.3655.68114.480.74%9.68%14.34%8.20

Adani Green Energy Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales7499869771,2951,4001,4611,6351,5841,9712,5982,1622,2202,311
Expenses1423602235253574896877181,11833481521645
Operating Profit6076267547701,0439729488668532,2642,0811,6991,666
OPM %81%63%77%59%74%67%58%55%43%87%96%77%72%
Other Income94831821157111166100216265178353264
Interest5454765246138136674584986171,3381,3931,1651,242
Depreciation124133151164260274280298330392451474481
Profit before tax3110026110841142276170122799415413207
Tax %-33%-4%16%7%-17%15%21%14%52%38%34%29%33%
Net Profit4110421910049121214149103507323371256
EPS in Rs0.280.671.400.640.310.771.350.940.653.212.032.351.62

Last Updated: May 7, 2024, 11:20 pm

Adani Green Energy Ltd Quarterly Chart

Adani Green Energy Ltd Profit & Loss

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales5021,4802,0582,5493,1245,1337,7928,953
Expenses986375321,0998831,6212,8222,056
Operating Profit4038431,5261,4502,2413,5124,9706,897
OPM %80%57%74%57%72%68%64%77%
Other Income804273-1113915076671,012
Interest3345521,1219951,9532,6172,9114,513
Depreciation3335431,0623944868491,3001,647
Profit before tax-184-210-585-501935531,4261,749
Tax %75%35%19%-22%6%12%32%
Net Profit-47-138-475-681824899731,304
EPS in Rs-0.37-1.00-3.03-0.151.343.136.158.24
Dividend Payout %0%0%0%0%0%0%0%

Adani Green Energy Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-193.62%-244.20%85.68%367.65%168.68%98.98%
Change in YoY Net Profit Growth (%)0.00%-50.59%329.89%281.96%-198.97%-69.70%

Adani Green Energy Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:35%
3 Years:43%
TTM:18%
Compounded Profit Growth
10 Years:%
5 Years:36%
3 Years:67%
TTM:10%
Stock Price CAGR
10 Years:%
5 Years:114%
3 Years:15%
1 Year:100%
Return on Equity
10 Years:%
5 Years:15%
3 Years:18%
Last Year:15%

Last Updated: May 23, 2024, 3:11 pm

Adani Green Energy Ltd Balance Sheet

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital1,2741,5641,5641,5641,5641,5641,5841,584
Reserves-71-2233697926361,0505,7206,349
Borrowings4,3479,86411,14214,86724,20952,83254,22357,378
Other Liabilities6104,5031,5821,2012,2833,5085,3826,168
Total Liabilities6,16015,70914,65818,42428,69258,95466,90971,479
Fixed Assets4,3419,12010,38812,55416,42928,45248,33649,501
CWIP2671,7257431,2084,45219,8995,2916,480
Investments2687774775025741,1491,840
Other Assets1,5254,7773,4494,1857,30910,02912,13313,658
Total Assets6,16015,70914,65818,42428,69258,95466,90971,479

Adani Green Energy Ltd Reserves and Borrowings Chart

Adani Green Energy Ltd Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 286491,6251,9651,6013,1277,265
Cash from Investing Activity -1,511-4,428-2,666-3,743-9,137-18,730-3,857
Cash from Financing Activity 1,5593,9421,0452,1617,08315,986-2,973
Net Cash Flow761623383-453383435

Adani Green Energy Ltd Free Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow399.00834.00-10.00-13.00-22.00-49.00-50.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Adani Green Energy Ltd Free Cash Flow Chart

Adani Green Energy Ltd Financial Efficiency Indicators

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days245209134106175129103
Inventory Days383
Days Payable455
Cash Conversion Cycle24520963106175129103
Working Capital Days244-345-51-307910227
ROCE %4%4%8%10%8%8%

Adani Green Energy Ltd Financial Efficiency Indicators Chart

Adani Green Energy Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters56.29%57.47%60.14%61.27%61.27%60.50%60.75%60.75%57.26%56.27%56.26%56.37%
FIIs21.47%20.32%17.83%16.59%16.53%15.91%15.25%15.14%17.13%18.25%18.16%18.03%
DIIs0.30%0.30%0.32%0.62%0.79%0.98%1.26%1.40%1.45%1.47%1.49%1.50%
Public21.94%21.91%21.71%21.51%21.41%22.61%22.74%22.70%24.16%24.00%24.09%24.10%
No. of Shareholders1,66,3862,30,9772,21,0251,89,6122,28,4693,71,7643,85,2973,93,1677,46,2946,92,3406,76,2716,93,064

Adani Green Energy Ltd Shareholding Pattern Chart

No. of Adani Green Energy Ltd Shareholders

Adani Green Energy Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Nippon India ETF Nifty Next 50 Junior BeES4155831.1942.76
ICICI Prudential Nifty Next 50 Index Fund3805111.1939.15
UTI Nifty Next 50 Index Fund3155891.1932.47
Quant Flexi Cap Fund2800001.1728.81
SBI Nifty Next 50 ETF2064641.1921.24
UTI Nifty Next 50 Exchange Traded Fund1728471.1917.78
SBI Nifty Next 50 Index Fund643031.196.62
Quant Teck Fund500002.535.14
HDFC NIFTY Next 50 Index Fund453471.24.67
ICICI Prudential Nifty Next 50 ETF441621.194.54

Adani Green Energy Ltd ROCE Trend

Adani Green Energy Ltd EPS Trend

Adani Green Energy Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)5.412.410.68-0.74-3.57
Diluted EPS (Rs.)5.412.410.68-0.74-3.57
Cash EPS (Rs.)13.988.554.232.133.77
Book Value[Excl.RevalReserv]/Share (Rs.)37.417.615.034.595.36
Book Value[Incl.RevalReserv]/Share (Rs.)37.417.615.034.595.36
Revenue From Operations / Share (Rs.)49.1932.8219.9716.3013.16
PBDIT / Share (Rs.)36.4425.2817.339.7910.22
PBIT / Share (Rs.)28.2319.8514.227.263.43
PBT / Share (Rs.)8.633.531.20-0.31-3.74
Net Profit / Share (Rs.)5.773.121.13-0.39-3.01
NP After MI And SOA / Share (Rs.)6.153.131.34-0.14-3.03
PBDIT Margin (%)74.0777.0386.7460.0577.67
PBIT Margin (%)57.3960.4971.1944.5826.07
PBT Margin (%)17.5410.755.98-1.95-28.40
Net Profit Margin (%)11.729.505.63-2.40-22.91
NP After MI And SOA Margin (%)12.509.526.72-0.91-23.02
Return on Networth / Equity (%)16.5641.0924.39-3.04-56.41
Return on Capital Employeed (%)7.596.579.757.374.48
Return On Assets (%)1.440.820.73-0.12-3.23
Long Term Debt / Equity (X)8.2735.9022.9316.9911.84
Total Debt / Equity (X)8.9943.8627.2218.4512.73
Asset Turnover Ratio (%)0.170.370.150.110.03
Current Ratio (X)0.920.510.670.850.76
Quick Ratio (X)0.910.510.660.820.71
Interest Coverage Ratio (X)1.981.511.391.541.43
Interest Coverage Ratio (Post Tax) (X)1.381.161.131.130.57
Enterprise Value (Cr.)190594.04349850.76195058.5237370.0616153.73
EV / Net Operating Revenue (X)24.4668.1662.4414.667.85
EV / EBITDA (X)33.0288.4871.9824.4110.11
MarketCap / Net Operating Revenue (X)17.9358.3055.299.432.83
Price / BV (X)23.76251.50200.6031.496.94
Price / Net Operating Revenue (X)17.9358.3055.299.432.83
EarningsYield0.010.000.000.00-0.08

Adani Green Energy Ltd Profitability Ratios (%)

Adani Green Energy Ltd Liquidity Ratios

Adani Green Energy Ltd Liquidity Ratios (%)

Adani Green Energy Ltd Interest Coverage Ratios (%)

Adani Green Energy Ltd Valuation Ratios

Fair Value

Fair Value: ₹2,190.44

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 12.27% compared to the current price ₹1951

Intrinsic Value: ₹3,496.25

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 79.20% compared to the current price ₹1951

Last 5 Year EPS CAGR: 59.61%

*Investments are subject to market risks

Strength and Weakness of Adani Green Energy Ltd Stock

StrengthWeakness
  1. The stock has a low average Working Capital Days of 3.71, which is a positive sign.
  1. The stock has a low average ROCE of 6.00%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 147.14, which may not be favorable.
  3. The company has higher borrowings (28,607.75) compared to reserves (1,827.75), which may suggest financial risk.
  4. The company has not shown consistent growth in sales (66.38) and profit (-35.13).

Should I Buy Adani Green Energy Ltd Share Now?

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Adani Green Energy Ltd:
    1. Net Profit Margin: 11.72%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 7.59% (Industry Average ROCE: 9.68%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ✓ ROE%: 16.56% (Industry Average ROE: 14.34%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 1.38
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.91
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✗ Stock P/E: 188 (Industry average Stock P/E: 55.68)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✗ Total Debt / Equity: 8.99
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Adani Green Energy Ltd

Adani Green Energy Ltd. is a Public Limited Listed company incorporated on 23/01/2015 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L40106GJ2015PLC082007 and registration number is 082007. Currently Company is involved in the business activities of Electric power generation using solar energy. Company’s Total Operating Revenue is Rs. 10672.00 Cr. and Equity Capital is Rs. 1564.00 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionAdani Corporate House, Ahmedabad Gujarat 382421investor.agel@adani.com
http://www.adanigreenenergy.com
Management
NamePosition Held
Mr. Gautam S AdaniChairman
Mr. Vneet S JaainManaging Director & CEO
Mr. Sagar R AdaniExecutive Director
Mr. Rajesh S AdaniDirector
Mr. Dinesh Hasmukhrai KanabarIndependent Director
Mr. Raminder Singh GujralIndependent Director
Mr. Romesh SobtiIndependent Director
Mrs. Ahlem Friga-NoyNominee Director

FAQ

What is the latest fair value of Adani Green Energy Ltd?

The latest fair value of Adani Green Energy Ltd is ₹2190.44.

What is the Market Cap of Adani Green Energy Ltd?

The Market Cap of Adani Green Energy Ltd is 3,09,092 Cr..

What is the current Stock Price of Adani Green Energy Ltd as on 30 May 2024?

The current stock price of Adani Green Energy Ltd as on 30 May 2024 is ₹1,951.

What is the High / Low of Adani Green Energy Ltd stocks in FY 2024?

In FY 2024, the High / Low of Adani Green Energy Ltd stocks is 2,019/816.

What is the Stock P/E of Adani Green Energy Ltd?

The Stock P/E of Adani Green Energy Ltd is 188.

What is the Book Value of Adani Green Energy Ltd?

The Book Value of Adani Green Energy Ltd is 50.1.

What is the Dividend Yield of Adani Green Energy Ltd?

The Dividend Yield of Adani Green Energy Ltd is 0.00 %.

What is the ROCE of Adani Green Energy Ltd?

The ROCE of Adani Green Energy Ltd is 7.81 %.

What is the ROE of Adani Green Energy Ltd?

The ROE of Adani Green Energy Ltd is 22.8 %.

What is the Face Value of Adani Green Energy Ltd?

The Face Value of Adani Green Energy Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Adani Green Energy Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE