Adani Green Energy reported a 36% increase in electricity supply revenue to ₹8,299 crore during April–September 2026.
Electricity supply EBITDA climbed 41% to ₹7,957 crore, while sales increased 32% to 25,747 million units. Operational capacity reached 20.8 GW, up 24% year-on-year.
The EBITDA margin improved from 91.8% to 92.9%, reflecting stronger operating performance. However, EBITDA excludes interest, tax and depreciation.
The company’s second-quarter net profit rose 15.9% to ₹747 crore, compared with 39% growth in total income to ₹4,520 crore.
The company invested approximately ₹17,160 crore in capital expenditure during the first half, marking a 38% increase from the previous year. The spending supports solar, wind, hybrid and battery storage projects.
However, lengthy construction periods and commissioning delays could increase financing costs.
Adani Green reported a net debt-to-run-rate EBITDA ratio of 5.6 times, highlighting the importance of cash generation and debt management.
Adani Green added 4,083 MW of renewable capacity during the first half, including solar, wind and hybrid projects.
Its Khavda renewable energy park in Gujarat remains central to its expansion strategy. The company aims to reach 50 GW of operational capacity by 2030.
However, transmission lines, substations and grid availability will determine how efficiently new projects deliver electricity. Infrastructure constraints could affect utilisation and investment returns.
The company added 3.08 GWh of battery storage at Khavda during the second quarter, taking its installed capacity to 6.63 GWh.
Storage can help balance renewable generation with electricity demand, although battery costs, energy losses and degradation may affect returns.
Investors will need to monitor net profit, operating cash flow, debt repayment and capacity utilisation.
Adani Green’s expansion demonstrates strong operating momentum, but its long-term success will depend on converting new capacity into reliable electricity sales, sustainable cash generation and manageable debt.
Also Read: Adani Power Q2 Results: Net Profit Jumps 142% To ₹7,019 Crore, Revenue Rises 39%
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