The shares of India’s largest renewable energy company commissioned a 150MW solar power project in Rajasthan.
At 11:00 a.m, the shares of Adani Green Energy Limited were trading at Rs. 947 down by 1.5 percent from its previous day close price and the market capitalization of the company is Rs. 1,49,976 Cr.
As per the company’s filing, Adani Solar Energy Jaisalmer Two Private Limited, which is a wholly owned step down subsidiary of Adani Green Energy Limited has completed the commissioning of an entire 150 MW solar power project at Bikaner, Rajasthan as an Independent Power Producer (IPP) for sale of power to third parties or on power exchanges.
Adani Green Energy Limited (AGEL) total operational renewable generation capacity has increased to 8,404 MW. This places its total renewable portfolio well on track to reach its vision of 45 GW capacity by 2030.
The company’s revenue increased by 51.8 percent from 5,133 Cr in FY22 to 7,792 Cr in FY23, accompanied by increasing profits of 489 Cr to 973 Cr.
The company has reported a return on equity (ROE) of 27.52 percent and return on capital employed (ROCE) of 8.46 percent , this indicates that the company is making good returns on its equity but it is making decent returns on its capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 56.27 percent stake, the Domestic Institutional Investors hold 1.48 percent and the Foreign Institutional Investors (FII) hold 18.25 percent.
Adani Green Energy is a holding company of several subsidiaries carrying business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities.
Written by: Bharath K.S
