Ahmedabad, 29 January 2024: Adani Green Energy Ltd (AGEL), India’s largest and fastest growing pure-play renewable energy company, today announced financial results for the quarter and nine months ending 31 December 2023.
FINANCIAL PERFORMANCE – Q3 & 9M FY24:
(Rs. in crore)
| Particulars | Quarterly performance | Nine month performance | ||||
| Q3 FY23 | Q3 FY24 | % change | 9M FY23 | 9M FY24 | % change | |
| Revenue from Power Supply | 1,258 | 1,765 | 40% | 3,690 | 5,794 | 57% |
| EBITDA from Power Supply 1 | 1,174 | 1,638 | 40% | 3,570 | 5,412 | 52% |
| EBITDA from Power Supply (%) | 92.1% | 91.5% | 91.8% | 92.0% | ||
| Cash Profit 2 | 546 | 862 | 58% | 1,827 | 2,944 | 61% |
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- The robust growth in revenue, EBITDA and cash profit is primarily driven by capacity addition of 1,154 MW over the past year and improved capacity utilization factor (CUF). The consistent industry-leading EBITDA margin is driven by AGEL’s best-in-class operations and maintenance (O&M) practices enabling it to achieve higher electricity generation at lower O&M cost.
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- The Run-rate EBITDA stands at a strong Rs. 7,806 crore with Net Debt to Run-rate EBITDA at 4.98x as of December 2023 as compared to 5.6x last year.
Mr. Amit Singh, CEO, Adani Green Energy Ltd, said, “With the recently announced equity and debt capital raise, we have put in place the capital management framework for a well-secured growth path to the targeted 45 GW capacity by 2030. We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localization, digitalization at scale, workforce expansion and competency building. We are working on the world’s largest renewable power plant at Khavda in Gujarat and endeavor to set new standards for mega scale development of renewable energy projects as the world embraces the target of tripling renewable power capacity by 2030.”
