Adani Green Energy Limited Earnings Summary — Q1 FY2027
Adani Green Energy Reports Standalone Net Loss Amid Legal Resolutions and Executive Appointments
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 3 consecutive quarters.
- Revenue of ₹4,431 Cr is 16.6% higher year-on-year.
- Revenue has compounded at 28.4% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹845 Cr is 18.5% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 137.3% annualised across the period.
- Operating margin stands at 89.9% in Q1 FY2027.
- Operating margin expanded by 988 bps year-on-year.
- Over the last two years operating margin has expanded by 478 bps.
- PBT margin is 26.8%.
- Expense growth of -41.2% remained below revenue growth of 16.6%.
- Operating profit of ₹3,985 Cr is 31.0% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 82/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 4,431 | 3,502 | 2,618 | 3,008 | 3,800 | 3,073 | 2,340 | 3,005 | 2,794 | 2,527 |
| Expenses | Volatile | 446 | 620 | 377 | 405 | 758 | 671 | 460 | 788 | 415 | 693 |
| Operating Profit | Improving | 3,985 | 2,882 | 2,241 | 2,603 | 3,042 | 2,402 | 1,880 | 2,217 | 2,379 | 1,834 |
| Operating Margin | Stable | 89.9% | 82.3% | 85.6% | 86.5% | 80.0% | 78.2% | 80.3% | 73.8% | 85.2% | 72.6% |
| Other Income | Volatile | 230 | 117 | 208 | 158 | 189 | 39 | 280 | 294 | 271 | 234 |
| Interest | Improving | 2,001 | 1,626 | 1,698 | 1,635 | 1,525 | 1,368 | 1,251 | 1,448 | 1,426 | 1,224 |
| Depreciation | Improving | 1,026 | 885 | 886 | 834 | 767 | 663 | 618 | 621 | 596 | 497 |
| Profit Before Tax | Volatile | 1,188 | 488 | -135 | 292 | 939 | 410 | 291 | 442 | 628 | 347 |
| Tax | Volatile | 263 | 56 | -37 | -237 | 232 | 118 | -109 | 26 | 179 | 82 |
| Net Profit | Volatile | 845 | 397 | -41 | 583 | 713 | 230 | 492 | 276 | 446 | 150 |
| Net Margin | Volatile | 19.1% | 11.3% | -1.6% | 19.4% | 18.8% | 7.5% | 21.0% | 9.2% | 16.0% | 5.9% |
Key Takeaways
- Reported a standalone net loss of ₹51 crore for Q1 FY27 compared to a profit of ₹34 crore in the same period last year.
- Standalone revenue from operations saw a significant year-on-year increase of 29.59%, reaching ₹6,206 crore.
- Legal proceedings involving directors in the US have seen motions for dismissal of indictment and final judgements filed by US DOJ and SEC, with management expecting no material impact.
- Appointed Ms. Poly Singh Arora as Chief People Officer to lead talent and culture strategy.
- Finance costs increased slightly year-on-year to ₹389 crore, impacting the bottom line alongside a surge in 'other expenses' to ₹171 crore.
- Consolidated financial overview includes 39 subsidiaries reviewed by joint auditors, contributing a total net profit of ₹664 crore for the quarter.
- Exceptional items included an impairment provision of ₹202 crore for the full year ended March 2026, though none were highlighted for the current quarter beyond operational variations.
- The company continues its aggressive capacity expansion strategy, maintaining high operating margins across its operational renewable portfolio.
Management Guidance
Management remains focused on strategic land banks and world-class execution, specifically targeting the 'Khavda' mega-project to align with National Green Energy targets. Financial stewardship continues to prioritize EBITDA growth and capacity run-rate over immediate GAAP PAT, supported by a high-leverage utility model.
Sentiment Shift
Improving
While standalone results show a loss, the potential dismissal of US legal charges and strong revenue growth in the consolidated subsidiaries suggest stabilizing operations and reduced legal risk.
Outlook
The outlook remains positive for capacity expansion as the company moves toward its 20 GW goal. Focus is on refinancing debt and scaling revenue through long-term Power Purchase Agreements (PPAs), though interest coverage remains a structural watchpoint.
From the Annual Report (Key Quotes)
“US DOJ filed a motion to dismiss the charges in the indictment against the three Directors with prejudice... currently pending approval.”
“Management assessment and pending the outcome of the proceedings no adjustments are required in the standalone financial results.”
“Ms. Poly Singh Arora is a strategic HR leader with strong expertise in Talent management, Culture building and Leadership development.”
Official Quarterly Documents
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This summary is AI-generated from Adani Green Energy Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.