Adani Stocks in Focus as Company Successfully Commissions Solar Power Project

India’s premier renewable energy company, Adani Green Energy Limited (AGEL), has successfully commissioned a substantial 150 MW solar power project in Rajasthan. This milestone was achieved through its wholly-owned step-down subsidiary, Adani Solar Energy Jaisalmer Two Private Limited. The project, located in Bikaner, Rajasthan, now operates as an Independent Power Producer (IPP), facilitating the sale of power to third parties or through power exchanges.

AGEL’s total operational renewable generation capacity has soared to an impressive 8,404 MW, firmly aligning the company with its ambitious vision of achieving a staggering 45 GW capacity by 2030.

Financially, AGEL has shown remarkable growth, with its revenue surging by 51.8 percent, climbing from INR 5,133 Crore in FY22 to INR 7,792 Crore in FY23. This robust performance is accompanied by a substantial increase in profits, from INR 489 Crore to INR 973 Crore.

Analyzing the company’s financial health, AGEL reports a return on equity (ROE) of 27.52 percent and a return on capital employed (ROCE) of 8.46 percent, signaling that the company not only generates favorable returns on its equity but also maintains decent returns on its capital employed.

As of the latest available shareholding data for the June 2023 quarter, the company’s Promoters maintain a substantial 56.27 percent stake, while Domestic Institutional Investors hold 1.48 percent and Foreign Institutional Investors (FIIs) possess 18.25 percent.

Adani Green Energy Limited serves as a holding company for various subsidiaries engaged in renewable power generation activities within the group. It primarily focuses on renewable power generation and related ancillary activities, solidifying its position as a key player in India’s rapidly evolving renewable energy landscape.