Adani Green Energy Releases Q2 FY27 Earnings Call Transcript
Adani Green Energy's Q2 FY27 earnings call transcript reveals strong performance with operational capacity exceeding 20 GW. H1 FY27 revenue from power supply reached ₹8,299 crore, up 36%, and EBITDA grew 41% to ₹7,957 crore. Q2 revenue rose 45% to ₹4,019 crore. The company commissioned 3 GWh of battery storage, reaching 6.6 GWh total, and aims to exceed 10 GWh this year. The INR2.4 lakh crore capex program through FY30 remains on track.
The announcement details significant operational achievements, financial growth, and strategic progress in renewable energy and storage capacity, which are material to the company's future performance and investor outlook.
The company reported strong year-on-year growth in revenue and EBITDA for both the quarter and half-year, exceeding operational capacity milestones and reaffirming capex plans. Positive commentary on energy transition, storage growth, and sustainability rankings further supports a positive sentiment.
Adani Green Energy Limited has released the transcript of its earnings call pertaining to the unaudited financial results for the quarter and half-year ended September 30, 2026. The call, which took place on October 22, 2026, featured management including CEO Ashish Khanna, CEO Battery Storage Rajat Seksaria, and CFO Saurabh Shah.
During the call, management highlighted India's accelerating energy transition and Adani Green's significant progress, crossing the milestone of 20 gigawatts (GW) of operational capacity. This portfolio supplied clean power equivalent to over 4.4 million homes and avoided 17.5 million tons of CO2 emissions. For H1 FY27, energy sales increased by 32% year-on-year to 25.7 billion units, with revenue from power supply up 36% to ₹8,299 crore and EBITDA growing 41% to ₹7,957 crore, achieving an industry-leading EBITDA margin of 93%.
Quarter 2 performance was also strong, with revenue from power supply rising 45% year-on-year to ₹4,019 crore and EBITDA up 51% to ₹3,835 crore, maintaining a 92% EBITDA margin. The company is making significant strides in energy storage, commissioning 3 gigawatt-hours (GWh) of battery energy storage at Khavda, bringing the total installed storage capacity to 6.6 GWh, over 50% of India's operational BESS. They remain on track to exceed 10 GWh this year, with the maiden 500-megawatt pump storage project progressing towards completion by year-end.
Adani Green is focused on its INR2.4 lakh crore capex program through FY30, aiming to maintain a 13% to 14% ROE threshold. The company is committed to disciplined execution, securing new capacities under long-term contracts with AA+ counterparties. Sustainability remains a key focus, with AGEL retaining its number 1 global ranking in the alternative electricity sub-sector by FTSE Russell for the second consecutive year. Awards were also received for their Khavda BESS project and pump storage projects.
Discussions also covered transmission infrastructure at Khavda, with management closely monitoring developments and accelerating BESS development to mitigate potential delays. They reaffirmed their target of commissioning 4.5 to 5 GW this fiscal, contingent on transmission line availability, expected by the next quarter. The company is also on track to surpass its 10 GWh battery storage target for the year. Management clarified that all PPAs are on a take-or-pay basis, and curtailment due to grid issues is compensated as deemed generation for scheduled power.
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Adani Green Energy Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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