Adani Green Energy Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: May 15, 2025, 10:13 pm

Market Cap	1,53,295 Cr.
Current Price	968
High / Low	2,174/758
Stock P/E	92.9
Book Value	76.6
Dividend Yield	0.00 %
ROCE	8.21 %
ROE	15.0 %
Face Value	10.0
PEG Ratio	1.99

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Adani Green Energy Ltd

Competitors of Adani Green Energy Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Muzali Arts Ltd	5.80 Cr.	0.98	/		2.03	0.00 %	8.46 %	8.74 %	1.00
IND Renewable Energy Ltd	17.4 Cr.	12.5	21.2/9.80		18.7	0.00 %	0.07 %	0.34 %	10.0
GMR Power & Urban Infra Ltd	8,639 Cr.	121	169/62.4		11.1	0.00 %	11.4 %	%	5.00
Gita Renewable Energy Ltd	49.5 Cr.	120	202/101		32.2	0.00 %	2.71 %	1.91 %	10.0
SJVN Ltd	38,638 Cr.	98.4	160/80.5	42.2	37.2	1.83 %	4.99 %	5.90 %	10.0
Industry Average	57,567.55 Cr	190.83		69.83	88.57	0.69%	7.73%	7.31%	8.08

All Competitor Stocks of Adani Green Energy Ltd

Quarterly Result

Metric	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	977	1,295	1,400	1,461	1,635	1,584	1,971	2,598	2,162	2,220	2,311	2,527	2,835
Expenses	223	525	357	489	687	718	1,118	334	81	521	645	676	415
Operating Profit	754	770	1,043	972	948	866	853	2,264	2,081	1,699	1,666	1,851	2,420
OPM %	77%	59%	74%	67%	58%	55%	43%	87%	96%	77%	72%	73%	85%
Other Income	182	115	71	111	66	100	216	265	178	353	264	199	241
Interest	524	613	813	667	458	498	617	1,338	1,393	1,165	1,242	1,206	1,440
Depreciation	151	164	260	274	280	298	330	392	451	474	481	497	593
Profit before tax	261	108	41	142	276	170	122	799	415	413	207	347	628
Tax %	16%	7%	-17%	15%	21%	14%	52%	38%	34%	29%	33%	24%	28%
Net Profit	219	100	49	121	214	149	103	507	323	371	256	310	629
EPS in Rs	1.40	0.64	0.31	0.77	1.35	0.94	0.65	3.21	2.03	2.35	1.62	0.95	2.82

Last Updated: Unknown

Below is a detailed analysis of the quarterly data for Adani Green Energy Ltd based on the most recent figures (Jun 2024) and their trends compared to the previous period:

For Sales, as of Jun 2024, the value is 2,835.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,527.00 Cr. (Mar 2024) to 2,835.00 Cr., marking an increase of 308.00 Cr..
For Expenses, as of Jun 2024, the value is 415.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 676.00 Cr. (Mar 2024) to 415.00 Cr., marking a decrease of 261.00 Cr..
For Operating Profit, as of Jun 2024, the value is 2,420.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,851.00 Cr. (Mar 2024) to 2,420.00 Cr., marking an increase of 569.00 Cr..
For OPM %, as of Jun 2024, the value is 85.00%. The value appears strong and on an upward trend. It has increased from 73.00% (Mar 2024) to 85.00%, marking an increase of 12.00%.
For Other Income, as of Jun 2024, the value is 241.00 Cr.. The value appears strong and on an upward trend. It has increased from 199.00 Cr. (Mar 2024) to 241.00 Cr., marking an increase of 42.00 Cr..
For Interest, as of Jun 2024, the value is 1,440.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,206.00 Cr. (Mar 2024) to 1,440.00 Cr., marking an increase of 234.00 Cr..
For Depreciation, as of Jun 2024, the value is 593.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 497.00 Cr. (Mar 2024) to 593.00 Cr., marking an increase of 96.00 Cr..
For Profit before tax, as of Jun 2024, the value is 628.00 Cr.. The value appears strong and on an upward trend. It has increased from 347.00 Cr. (Mar 2024) to 628.00 Cr., marking an increase of 281.00 Cr..
For Tax %, as of Jun 2024, the value is 28.00%. The value appears to be increasing, which may not be favorable. It has increased from 24.00% (Mar 2024) to 28.00%, marking an increase of 4.00%.
For Net Profit, as of Jun 2024, the value is 629.00 Cr.. The value appears strong and on an upward trend. It has increased from 310.00 Cr. (Mar 2024) to 629.00 Cr., marking an increase of 319.00 Cr..
For EPS in Rs, as of Jun 2024, the value is 2.82. The value appears strong and on an upward trend. It has increased from 0.95 (Mar 2024) to 2.82, marking an increase of 1.87.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 3, 2025, 3:21 pm

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	502	1,480	2,058	2,549	3,124	5,133	7,776	9,220	11,212
Expenses	98	637	532	1,098	883	1,621	2,806	1,902	2,335
Operating Profit	403	843	1,526	1,450	2,241	3,512	4,970	7,318	8,877
OPM %	80%	57%	74%	57%	72%	68%	64%	79%	79%
Other Income	80	42	73	-111	391	507	667	1,262	884
Interest	334	552	1,121	995	1,953	2,617	2,911	5,006	5,492
Depreciation	333	543	1,062	394	486	849	1,300	1,903	2,498
Profit before tax	-184	-210	-585	-50	193	553	1,426	1,671	1,771
Tax %	-75%	-35%	-19%	23%	6%	12%	32%	25%	12%
Net Profit	-47	-138	-475	-68	182	489	973	1,260	2,001
EPS in Rs	-0.37	-1.00	-3.03	-0.15	1.34	3.13	6.15	6.94	9.12
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-193.62%	-244.20%	85.68%	367.65%	168.68%	98.98%	29.50%	58.81%
Change in YoY Net Profit Growth (%)	0.00%	-50.59%	329.89%	281.96%	-198.97%	-69.70%	-69.48%	29.31%

Adani Green Energy Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	34%
3 Years:	30%
TTM:	22%

Compounded Profit Growth
10 Years:	%
5 Years:	127%
3 Years:	56%
TTM:	31%

Stock Price CAGR
10 Years:	%
5 Years:	35%
3 Years:	-24%
1 Year:	-45%

Return on Equity
10 Years:	%
5 Years:	16%
3 Years:	17%
Last Year:	15%

Last Updated: Unknown

Balance Sheet

Last Updated: May 13, 2025, 3:57 pm

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1,274	1,564	1,564	1,564	1,564	1,564	1,584	1,584	1,584
Reserves	-71	-223	369	793	636	1,050	5,720	8,250	10,553
Borrowings	4,347	9,864	11,142	14,866	24,209	52,832	54,223	64,858	80,040
Other Liabilities	610	4,503	1,582	1,201	2,283	3,508	5,382	13,394	19,221
Total Liabilities	6,160	15,709	14,658	18,424	28,692	58,954	66,909	88,086	111,398
Fixed Assets	4,341	9,120	10,388	12,554	16,429	28,452	48,336	62,284	79,915
CWIP	267	1,725	743	1,208	4,452	19,899	5,291	6,427	14,479
Investments	26	87	77	476	502	574	1,149	1,515	2,743
Other Assets	1,525	4,777	3,449	4,186	7,309	10,029	12,133	17,860	14,261
Total Assets	6,160	15,709	14,658	18,424	28,692	58,954	66,909	88,086	111,398

Below is a detailed analysis of the balance sheet data for Adani Green Energy Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Equity Capital, as of Mar 2025, the value is 1,584.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 1,584.00 Cr..
For Reserves, as of Mar 2025, the value is 10,553.00 Cr.. The value appears strong and on an upward trend. It has increased from 8,250.00 Cr. (Mar 2024) to 10,553.00 Cr., marking an increase of 2,303.00 Cr..
For Borrowings, as of Mar 2025, the value is 80,040.00 Cr.. The value appears to be increasing, which may not be favorable. However, Borrowings exceed Reserves, which may signal higher financial risk. It has increased from 64,858.00 Cr. (Mar 2024) to 80,040.00 Cr., marking an increase of 15,182.00 Cr..
For Other Liabilities, as of Mar 2025, the value is 19,221.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 13,394.00 Cr. (Mar 2024) to 19,221.00 Cr., marking an increase of 5,827.00 Cr..
For Total Liabilities, as of Mar 2025, the value is 111,398.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 88,086.00 Cr. (Mar 2024) to 111,398.00 Cr., marking an increase of 23,312.00 Cr..
For Fixed Assets, as of Mar 2025, the value is 79,915.00 Cr.. The value appears strong and on an upward trend. It has increased from 62,284.00 Cr. (Mar 2024) to 79,915.00 Cr., marking an increase of 17,631.00 Cr..
For CWIP, as of Mar 2025, the value is 14,479.00 Cr.. The value appears strong and on an upward trend. It has increased from 6,427.00 Cr. (Mar 2024) to 14,479.00 Cr., marking an increase of 8,052.00 Cr..
For Investments, as of Mar 2025, the value is 2,743.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,515.00 Cr. (Mar 2024) to 2,743.00 Cr., marking an increase of 1,228.00 Cr..
For Other Assets, as of Mar 2025, the value is 14,261.00 Cr.. The value appears to be declining and may need further review. It has decreased from 17,860.00 Cr. (Mar 2024) to 14,261.00 Cr., marking a decrease of 3,599.00 Cr..
For Total Assets, as of Mar 2025, the value is 111,398.00 Cr.. The value appears strong and on an upward trend. It has increased from 88,086.00 Cr. (Mar 2024) to 111,398.00 Cr., marking an increase of 23,312.00 Cr..

However, the Borrowings (80,040.00 Cr.) are higher than the Reserves (₹10,553.00 Cr.), which may signal higher financial risk.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	28	649	1,625	1,965	1,601	3,127	7,265	7,713	8,364
Cash from Investing Activity +	-1,511	-4,428	-2,666	-3,743	-9,137	-18,730	-3,857	-21,060	-19,827
Cash from Financing Activity +	1,559	3,942	1,045	2,161	7,083	15,986	-2,973	13,953	12,068
Net Cash Flow	76	162	3	383	-453	383	435	606	605

Free Cash Flow

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	399.00	834.00	-10.00	-13.00	-22.00	-49.00	-50.00	-57.00	-72.00

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.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	245	209	134	106	175	129	104	53
Inventory Days			383
Days Payable			455
Cash Conversion Cycle	245	209	63	106	175	129	104	53
Working Capital Days	244	-345	-51	-30	79	102	27	-7
ROCE %		4%	4%	8%	10%	8%	8%	10%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	60.14%	61.27%	61.27%	60.50%	60.75%	60.75%	57.26%	56.27%	56.26%	56.37%	56.37%	57.51%
FIIs	17.83%	16.59%	16.53%	15.91%	15.25%	15.14%	17.13%	18.25%	18.16%	18.03%	18.15%	16.91%
DIIs	0.32%	0.62%	0.79%	0.98%	1.26%	1.40%	1.45%	1.47%	1.49%	1.50%	1.55%	1.46%
Public	21.71%	21.51%	21.41%	22.61%	22.74%	22.70%	24.16%	24.00%	24.09%	24.10%	23.93%	24.11%
No. of Shareholders	2,21,025	1,89,612	2,28,469	3,71,764	3,85,297	3,93,167	7,46,294	6,92,340	6,76,271	6,93,064	6,68,586	7,42,579

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India ETF Nifty Next 50 Junior BeES	383,422	1.52	64.01	383,422	2025-04-22 15:57:00	0%
ICICI Prudential Nifty Next 50 Index Fund	353,385	1.52	59	353,385	2025-04-22 15:57:00	0%
UTI Nifty Next 50 Index Fund	286,175	1.52	47.78	286,175	2025-04-22 15:57:00	0%
Quant Flexi Cap Fund	280,000	1.32	46.74	280,000	2025-04-22 15:57:00	0%
SBI Nifty Next 50 ETF	190,054	1.52	31.73	190,054	2025-04-22 15:57:00	0%
Quant Focused Fund	165,000	4.2	27.55	165,000	2025-04-22 15:57:00	0%
UTI Nifty Next 50 Exchange Traded Fund	151,943	1.52	25.37	151,943	2025-04-22 15:57:00	0%
Quant Large Cap Fund	90,000	2.81	15.03	90,000	2025-04-22 15:57:00	0%
SBI Nifty Next 50 Index Fund	60,863	1.52	10.16	60,863	2025-04-22 15:57:00	0%
HDFC NIFTY Next 50 Index Fund	41,736	1.52	6.97	41,736	2025-04-22 15:57:00	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	6.21	5.41	2.41	0.68	-0.74
Diluted EPS (Rs.)	6.20	5.41	2.41	0.68	-0.74
Cash EPS (Rs.)	18.14	13.98	8.55	4.23	2.13
Book Value[Excl.RevalReserv]/Share (Rs.)	101.16	37.41	7.61	5.03	4.59
Book Value[Incl.RevalReserv]/Share (Rs.)	101.16	37.41	7.61	5.03	4.59
Revenue From Operations / Share (Rs.)	58.21	49.19	32.82	19.97	16.30
PBDIT / Share (Rs.)	53.90	36.44	25.28	17.33	9.79
PBIT / Share (Rs.)	41.88	28.23	19.85	14.22	7.26
PBT / Share (Rs.)	8.72	8.63	3.53	1.20	-0.31
Net Profit / Share (Rs.)	6.13	5.77	3.12	1.13	-0.39
NP After MI And SOA / Share (Rs.)	6.94	6.15	3.13	1.34	-0.14
PBDIT Margin (%)	92.59	74.07	77.03	86.74	60.05
PBIT Margin (%)	71.95	57.39	60.49	71.19	44.58
PBT Margin (%)	14.98	17.54	10.75	5.98	-1.95
Net Profit Margin (%)	10.53	11.72	9.50	5.63	-2.40
NP After MI And SOA Margin (%)	11.93	12.50	9.52	6.72	-0.91
Return on Networth / Equity (%)	13.07	16.56	41.09	24.39	-3.04
Return on Capital Employeed (%)	10.74	7.59	6.57	9.75	7.37
Return On Assets (%)	1.24	1.44	0.82	0.73	-0.12
Long Term Debt / Equity (X)	4.82	8.27	35.90	22.93	16.99
Total Debt / Equity (X)	7.50	8.99	43.86	27.22	18.45
Asset Turnover Ratio (%)	0.11	0.17	0.37	0.15	0.11
Current Ratio (X)	0.51	0.92	0.51	0.67	0.85
Quick Ratio (X)	0.50	0.91	0.51	0.66	0.82
Interest Coverage Ratio (X)	1.71	1.98	1.51	1.39	1.54
Interest Coverage Ratio (Post Tax) (X)	1.24	1.38	1.16	1.13	1.13
Enterprise Value (Cr.)	352407.68	190594.04	349850.76	195058.52	37370.06
EV / Net Operating Revenue (X)	38.22	24.46	68.16	62.44	14.66
EV / EBITDA (X)	41.28	33.02	88.48	71.98	24.41
MarketCap / Net Operating Revenue (X)	31.51	17.93	58.30	55.29	9.43
Price / BV (X)	34.54	23.76	251.50	200.60	31.49
Price / Net Operating Revenue (X)	31.51	17.93	58.30	55.29	9.43
EarningsYield	0.00	0.01	0.00	0.00	0.00

After reviewing the key financial ratios for Adani Green Energy Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 6.21. This value is within the healthy range. It has increased from 5.41 (Mar 23) to 6.21, marking an increase of 0.80.
For Diluted EPS (Rs.), as of Mar 24, the value is 6.20. This value is within the healthy range. It has increased from 5.41 (Mar 23) to 6.20, marking an increase of 0.79.
For Cash EPS (Rs.), as of Mar 24, the value is 18.14. This value is within the healthy range. It has increased from 13.98 (Mar 23) to 18.14, marking an increase of 4.16.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 101.16. It has increased from 37.41 (Mar 23) to 101.16, marking an increase of 63.75.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 101.16. It has increased from 37.41 (Mar 23) to 101.16, marking an increase of 63.75.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 58.21. It has increased from 49.19 (Mar 23) to 58.21, marking an increase of 9.02.
For PBDIT / Share (Rs.), as of Mar 24, the value is 53.90. This value is within the healthy range. It has increased from 36.44 (Mar 23) to 53.90, marking an increase of 17.46.
For PBIT / Share (Rs.), as of Mar 24, the value is 41.88. This value is within the healthy range. It has increased from 28.23 (Mar 23) to 41.88, marking an increase of 13.65.
For PBT / Share (Rs.), as of Mar 24, the value is 8.72. This value is within the healthy range. It has increased from 8.63 (Mar 23) to 8.72, marking an increase of 0.09.
For Net Profit / Share (Rs.), as of Mar 24, the value is 6.13. This value is within the healthy range. It has increased from 5.77 (Mar 23) to 6.13, marking an increase of 0.36.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 6.94. This value is within the healthy range. It has increased from 6.15 (Mar 23) to 6.94, marking an increase of 0.79.
For PBDIT Margin (%), as of Mar 24, the value is 92.59. This value is within the healthy range. It has increased from 74.07 (Mar 23) to 92.59, marking an increase of 18.52.
For PBIT Margin (%), as of Mar 24, the value is 71.95. This value exceeds the healthy maximum of 20. It has increased from 57.39 (Mar 23) to 71.95, marking an increase of 14.56.
For PBT Margin (%), as of Mar 24, the value is 14.98. This value is within the healthy range. It has decreased from 17.54 (Mar 23) to 14.98, marking a decrease of 2.56.
For Net Profit Margin (%), as of Mar 24, the value is 10.53. This value exceeds the healthy maximum of 10. It has decreased from 11.72 (Mar 23) to 10.53, marking a decrease of 1.19.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 11.93. This value is within the healthy range. It has decreased from 12.50 (Mar 23) to 11.93, marking a decrease of 0.57.
For Return on Networth / Equity (%), as of Mar 24, the value is 13.07. This value is below the healthy minimum of 15. It has decreased from 16.56 (Mar 23) to 13.07, marking a decrease of 3.49.
For Return on Capital Employeed (%), as of Mar 24, the value is 10.74. This value is within the healthy range. It has increased from 7.59 (Mar 23) to 10.74, marking an increase of 3.15.
For Return On Assets (%), as of Mar 24, the value is 1.24. This value is below the healthy minimum of 5. It has decreased from 1.44 (Mar 23) to 1.24, marking a decrease of 0.20.
For Long Term Debt / Equity (X), as of Mar 24, the value is 4.82. This value exceeds the healthy maximum of 1. It has decreased from 8.27 (Mar 23) to 4.82, marking a decrease of 3.45.
For Total Debt / Equity (X), as of Mar 24, the value is 7.50. This value exceeds the healthy maximum of 1. It has decreased from 8.99 (Mar 23) to 7.50, marking a decrease of 1.49.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.11. It has decreased from 0.17 (Mar 23) to 0.11, marking a decrease of 0.06.
For Current Ratio (X), as of Mar 24, the value is 0.51. This value is below the healthy minimum of 1.5. It has decreased from 0.92 (Mar 23) to 0.51, marking a decrease of 0.41.
For Quick Ratio (X), as of Mar 24, the value is 0.50. This value is below the healthy minimum of 1. It has decreased from 0.91 (Mar 23) to 0.50, marking a decrease of 0.41.
For Interest Coverage Ratio (X), as of Mar 24, the value is 1.71. This value is below the healthy minimum of 3. It has decreased from 1.98 (Mar 23) to 1.71, marking a decrease of 0.27.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 1.24. This value is below the healthy minimum of 3. It has decreased from 1.38 (Mar 23) to 1.24, marking a decrease of 0.14.
For Enterprise Value (Cr.), as of Mar 24, the value is 352,407.68. It has increased from 190,594.04 (Mar 23) to 352,407.68, marking an increase of 161,813.64.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 38.22. This value exceeds the healthy maximum of 3. It has increased from 24.46 (Mar 23) to 38.22, marking an increase of 13.76.
For EV / EBITDA (X), as of Mar 24, the value is 41.28. This value exceeds the healthy maximum of 15. It has increased from 33.02 (Mar 23) to 41.28, marking an increase of 8.26.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 31.51. This value exceeds the healthy maximum of 3. It has increased from 17.93 (Mar 23) to 31.51, marking an increase of 13.58.
For Price / BV (X), as of Mar 24, the value is 34.54. This value exceeds the healthy maximum of 3. It has increased from 23.76 (Mar 23) to 34.54, marking an increase of 10.78.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 31.51. This value exceeds the healthy maximum of 3. It has increased from 17.93 (Mar 23) to 31.51, marking an increase of 13.58.
For EarningsYield, as of Mar 24, the value is 0.00. This value is below the healthy minimum of 5. It has decreased from 0.01 (Mar 23) to 0.00, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Adani Green Energy Ltd as of May 16, 2025 is: 871.02

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.

As of May 16, 2025, Adani Green Energy Ltd is Overvalued by 10.02% compared to the current share price 968.00

Default values used*: Default value of 15% for ROE is used

Intrinsic Value of Adani Green Energy Ltd as of May 16, 2025 is: 1,278.22

Calculation basis:

Intrinsic 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 intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of May 16, 2025, Adani Green Energy Ltd is Undervalued by 32.05% compared to the current share price 968.00

Default values used*: Default value of 15% for ROE is used

Last 5 Year EPS CAGR: 46.75%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of 2.38, which is a positive sign.	The stock has a low average ROCE of 6.50%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 135.50, which may not be favorable. The company has higher borrowings (35,153.44) compared to reserves (3,008.56), which may suggest financial risk. The company has not shown consistent growth in sales (60.22) and profit (-31.11).

Stock Analysis

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: 10.53%
  - 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: 10.74% (Industry Average ROCE: 7.73%)
  - 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%: 13.07% (Industry Average ROE: 7.31%)
  - 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): 1.24
  - 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: 0.5
  - 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: 92.9 (Industry average Stock P/E: 69.83)
  - 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: 7.5
  - 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 - Qualitative Analysis

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. 19613.00 Cr. and Equity Capital is Rs. 1584.00 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Power - Generation/Distribution	Adani Corporate House, Ahmedabad Gujarat 382421	investor.agel@adani.com http://www.adanigreenenergy.com

Management
Name	Position Held
Mr. Gautam S Adani	Chairman
Mr. Vneet S Jaain	Managing Director
Mr. Sagar R Adani	Executive Director
Mr. Sangkaran Ratnam	Non Exe. & Nominee Director
Mr. Dinesh Hasmukhrai Kanabar	Ind. Non-Executive Director
Mr. Raminder Singh Gujral	Ind. Non-Executive Director
Mr. Romesh Sobti	Ind. Non-Executive Director
Mrs. Neera Saggi	Ind. Non-Executive Director
Dr. Anup Shah	Ind. Non-Executive Director
Mr. Rajesh S Adani	Director

FAQ

What is the intrinsic value of Adani Green Energy Ltd?

Adani Green Energy Ltd's intrinsic value (as of 15 May 2025) is ₹871.02 — 10.02% lower the current market price of 968.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 1,53,295 Cr. market cap, FY2025-2026 high/low of ₹2,174/758, reserves of 10,553 Cr, and liabilities of 111,398 Cr.

What is the Market Cap of Adani Green Energy Ltd?

The Market Cap of Adani Green Energy Ltd is 1,53,295 Cr..

What is the current Stock Price of Adani Green Energy Ltd as on 15 May 2025?

The current stock price of Adani Green Energy Ltd as on 15 May 2025 is 968.

What is the High / Low of Adani Green Energy Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Adani Green Energy Ltd stocks is ₹2,174/758.

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

The Stock P/E of Adani Green Energy Ltd is 92.9.

What is the Book Value of Adani Green Energy Ltd?

The Book Value of Adani Green Energy Ltd is 76.6.

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 8.21 %.

What is the ROE of Adani Green Energy Ltd?

The ROE of Adani Green Energy Ltd is 15.0 %.

What is the Face Value of Adani Green Energy Ltd?

The Face Value of Adani Green Energy Ltd is 10.0.