Adani Green Energy shares fell 4% to Rs 1,211 on the BSE after the company posted a 15% year-on-year rise in consolidated net profit to Rs 673 crore for the second quarter, up from Rs 583 crore a year earlier. Revenue from operations rose 39% to Rs 4,520 crore, while power supply EBITDA climbed 51% to Rs 3,835 crore with margins at 92%. Jefferies kept its Buy rating with a Rs 1,695 target price, and JM Financial maintained Add with a Rs 1,374 target, flagging weaker grid availability in H1FY27 and capex of Rs 16,000 crore.
Shares of Adani Green Energy fell 4% to Rs 1,211 on the BSE on Thursday after the company reported a 15% year-on-year rise in consolidated net profit to Rs 673 crore for the second quarter, according to economictimes.indiatimes.com. The same metric stood at Rs 583 crore in the corresponding quarter of the previous year.
Revenue from operations climbed 39% year on year to Rs 4,520 crore. Power supply, the company’s core segment, drove the expansion, with segment revenue up 45% to Rs 4,019 crore from Rs 2,776 crore, lifted by the commissioning of new solar, wind and hybrid projects.
EBITDA from power supply jumped 51% to Rs 3,835 crore from Rs 2,543 crore, while the EBITDA margin improved to 92% from 90.5% a year earlier, the report stated.
Jefferies keeps Buy with Rs 1,695 target
Jefferies retained its Buy rating on Adani Green Energy and set a target price of Rs 1,695, citing reasonable valuations after a 22% correction from the stock’s peak, according to the report. The brokerage said Adani Green trades at around 20 times one-year forward EV/EBITDA, which it considers attractive against a projected 30% EBITDA compound annual growth rate between FY26 and FY30.
Jefferies pointed to rising power demand, improving utilisation at the Khavda project and the company’s expanding battery storage business as potential growth drivers, even as it flagged concerns over higher interest costs following the Reserve Bank of India’s rate hike.
“Higher electricity demand and improved utilisation are key triggers for the renewable energy company.” β Jefferies research note
The brokerage also raised the possibility of El NiΓ±o conditions continuing into 2027, which could bring higher temperatures and renewed power shortages. It noted that coal stocks are already at critical levels of less than seven days, while state electricity boards are discussing locking in power for 2027.
On storage, Adani Green’s installed battery energy storage capacity stands at 6.6 GWh, with plans to exceed 10 GWh by the end of FY27. Jefferies said this expansion could accelerate on strong power demand and sees potential upside to its forecast of 6.5-6.8 GW in annual generation capacity additions during FY28-FY30.
JM Financial stays Add at Rs 1,374
JM Financial retained its Add rating with a target price of Rs 1,374 after results it described as largely in line with expectations. The brokerage said the EBITDA margin on power supply came in at 91% in Q2FY27, compared with 87% in Q2FY26 and 90% in Q1FY27, against its own estimate of 89%.
The report said grid availability weakened amid delays in transmission lines. Solar, wind and hybrid grid availability stood at 78.9%, 93.7% and 94.5% respectively in H1FY27, compared with 89%, 97.4% and 89% in H1FY26.
Adani Green incurred capital expenditure of Rs 16,000 crore in H1FY27, alongside debt drawdowns of Rs 13,700 crore, according to the report.
Source: economictimes.indiatimes.com
Compiled from international media by the SCI.AI editorial team.
