Why Is Adani Green Energy Back in Focus after JM Financial’s Fresh Buy Call?
The company’s disciplined execution, sectoral tailwinds, and rising EBITDA visibility have positioned it as a long-term structural opportunity in India’s clean-energy transformation.
Key Financial & Operational Highlights
| Metric | Detail |
|---|---|
| Installed Capacity (Sep 2025) | 16.7 GW |
| Under Construction | 30 GW at Khavda + additional 20 GW planned |
| Revenue / EBITDA / PAT CAGR (FY25–28) | 30% / 36% / 57% |
| Debt Metrics | Net Debt / EBITDA improved to 7.4 in FY25 |
| Cash Flow Visibility | 81% of capacity tied in long-term PPAs |
JM Financial expects 50 GW operational capacity by FY30, backed by scale, efficiency, and favourable policy support.
The transition toward large-scale renewable parks ensures multi-decade earning visibility.
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Peer Comparison – Renewable Energy Leaders
| Company | Operational Capacity | Portfolio Mix |
|---|---|---|
| Adani Green | 16.7 GW | Solar + Wind + Hybrid |
| ReNew | 8.4 GW | Wind-heavy |
| Tata Power Solar | 4.1 GW | Solar-focused |
AGEL stands out due to scale, PPAs, and aggressive execution.
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Valuation & Investment View
JM Financial values AGEL at 14× FY28 EV/EBITDA for 28 GW of contracted capacity, implying a fair value of ₹1,289 per share. The risk-reward remains favourable given earnings visibility, strong pipeline, and renewable energy policy support.
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Investor Takeaway
Adani Green continues to remain one of the strongest compounding candidates in India’s green-energy ecosystem. With execution clarity and long-term PPAs in place, its structural runway remains intact, though investors should monitor debt metrics and project timelines closely.
For more market-guided insights curated by Gulshan Khera, CFP®, explore updates at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related Queries on Renewable Stocks and Clean Energy
- Is India’s renewable capacity enough for future demand?
- What drives valuation in renewable energy players?
- Why are hybrid renewable parks gaining momentum?
- How PPAs affect long-term earnings?
- Best renewable stocks for long-term investing
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
