Adani Green Energy Releases Q1 FY27 Earnings Call Transcript
Adani Green Energy (AGEL) surpassed 20 GW renewable capacity in Q1 FY27. Revenue from power supply increased 29% YoY to ₹4,280 crore, and EBITDA rose 33% to ₹4,122 crore (94% margin). AGEL commissioned 1.9 GW battery storage, aiming for 10+ GW-hour this year. Capex guidance for FY27 is ₹42,000 crore.
The announcement includes significant financial results, capacity additions, strategic shifts in contracting, and future Capex guidance, all of which are material information for investors and stakeholders.
The company reported strong financial performance with significant year-on-year growth in revenue and EBITDA, surpassed key capacity milestones, and provided positive future guidance, indicating a favorable outlook.
Adani Green Energy Limited (AGEL) has released the transcript of its Earnings Call concerning the Unaudited Financial Results for the quarter ended June 30, 2026. The call, held on July 22, 2026, featured key management personnel including Mr. Ashish Khanna (CEO), Mr. Rajat Seksaria (CEO - Battery Storage), and Mr. Saurabh Shah (CFO).
During the call, AGEL announced surpassing the 20 GW milestone for installed renewable capacity, positioning it as India's largest and fastest greenfield renewable capacity addition. This capacity powers over 9 million homes and avoids approximately 37 million tons of CO2 emissions annually. The company's energy sales rose by 30% year-on-year to 13.7 billion units, driven by 4.3 GW of energy capacity addition and strong operational performance.
AGEL commissioned 1.9 GW of battery energy storage capacity at Khavda during the quarter, bringing the total installed capacity to 3.5 GW-hour, and is on track to achieve its 10-plus GW-hour target for the year. The company also remains on schedule to commission its maiden 500 MW pump storage project at Chitravathi, Andhra Pradesh, within the current financial year.
Financially, AGEL reported a 29% year-on-year increase in revenue from power supply to ₹4,280 crore, with EBITDA from power supply surging by 33% to ₹4,122 crore, achieving a 94% EBITDA margin. Capital expenditure for the quarter was ₹8,800 crore, a 41% increase year-on-year. The company's Khavda project, described as the world's largest renewable energy installation, is progressing well, with over 10 GW of solar, wind, and hybrid assets already included.
AGEL highlighted a strategic shift where certain merchant renewable plants and battery storage facilities are now contracted to Adani Energy Limited (AESL) on an arm's length basis to de-risk the company and ensure predictable long-term returns. These contracts are for 15 years for batteries and 25 years for solar and wind, with fixed prices. The company also addressed curtailment impacts, stating it is expected to reduce significantly by year-end, and clarified that a recent incident involved inverter fires, not battery fires, with appropriate safety protocols and insurance in place.
The company provided a Capex guidance of approximately ₹42,000 crore for FY27, aiming for 5 GW of RE expansion and over 10 GW of cumulative battery capacity. AGEL also expects to add another 7 GW of evacuation capacity by the end of the calendar year, with the balance expected online within the following quarter or two. The company's run-rate EBITDA for the operational portfolio is approximately ₹17,000 crore, projected to reach ₹21,000 crore by the end of FY27.
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