The renewable energy industry, valued at over $1 trillion, focuses on sustainable power sources like solar, wind, and hydropower. It plays a crucial role in reducing carbon emissions and combating climate change, with significant investments and advancements driving global energy transformation toward cleaner, greener alternatives.
With a market capitalization of Rs 2.89 lakh crore, the shares of Adani Green Energy Ltd were trading at Rs 1,827.45 per share, increasing around 1.18 percent as compared to the previous closing price of Rs 1,806.00 apiece.
Financial Analysis:-
Examining the company’s financial performance, revenue magnified by 31 percent, from Rs 2,162 crore in Q4 FY23 to Rs 2,835 crore in Q4 FY24. During the same period, net profit increased by 94 percent, from Rs 323 crore to Rs 629 crore.
Brokerage Target:-
Jefferies, one of the well-known brokerages globally, gave a ‘Buy’ call on the green energy stock with a target price of Rs 2,130 apiece, indicating a potential upside of 17 percent from Monday’s price of Rs 1,827.45 per share.
Rational:-
As per the brokerage, Adani Green’s Khavda 30 GW execution is the game-changer for the company. The company is operating 551 MW solar capacity in Khavda, Gujarat, on February 14, supplying power to the national grid.
Moreover, the company is planning to develop 30 GW of renewable energy capacity at RE Park. The planned capacity is expected to be operationalized in the next five years after the completion of Khavda RE Park will be the largest renewable energy installation in the world.
Jefferies also added that the company’s balance sheet leverage will fall to 2.8x in 2030, down from 6.4 times currently. Additionally, the firm’s capital management program is prudent.
Wind power capacity:-
The company has operationalized a wind power capacity of 250 MW at Khavda deploying India’s largest 5.2 MW wind turbine generator in July 2024. This takes the total operational capacity at Khavda to 2.25 GW and the total operational portfolio to 11.2 GW.
Company profile:-
Adani Green Energy Limited (AGEL) is an Indian-based holding corporation. The Company generates renewable power and does other related operations. The Company creates, owns, manages, and maintains utility-scale grid-connected solar, wind, hybrid, and solar parks.
Written by:- Abhishek Singh
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