Renewable energy company Adani Green Energy (AGEL) generated revenue of ₹26.66 billion (~$312.88 million) from power supply in the fourth quarter (Q4) of the financial year (FY) 2025, a 37% year-over-year (YoY) increase from ₹19.41 billion (~$227.79 million).

The revenue growth was accompanied by a 35% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), which reached ₹24.53 billion (~$287.88 million) at an EBITDA margin of 91%.

The company also reported an 18% jump in cash profit, which climbed to ₹12.31 billion (~$144.47 million).

Its earnings per share (EPS) came in at ₹1.26 (~$0.015) compared to ₹0.76 (~$0.0089) in the corresponding quarter last year.

The improvement in revenue, EBITDA, and cash profit was primarily driven by robust greenfield capacity addition of 3.3 GW and consistent project performance. AGEL noted that it contributed 16% of the nationwide utility-scale solar and 14% of the wind installations in FY25.

The greenfield additions in FY25 included 1,460 MW of solar and 599 MW of wind capacity in Khavda, 1,000 MW of solar capacity in Rajasthan, and 250 MW of solar capacity in Andhra Pradesh.

Adani Green’s operational capacity increased 30% YoY to 14.2 GW and is expected to rise to 15.2 GW with an additional 1 GW near completion.

Full-year 2025

Adani Green generated a revenue of ₹94.95 billion (~$1.11 billion) in FY25, a 23% YoY increase from ₹77.35 billion (~$907.98 million).

The revenue growth was accompanied by a 22% increase in EBITDA, which reached ₹88.18 billion (~$1.03 billion) at an EBITDA margin of 91.7%.

The company also reported a 22% YoY jump in cash profit, which climbed to ₹48.71 billion (~$571.78 million).

Its EPS came in at ₹8.37 (~$0.098) compared to ₹6.20 (~$0.073) last year.

AGEL’s solar portfolio achieved a capacity utilization factor (CUF) of 24.8%, supported by 99.5% project availability. Its wind portfolio recorded a CUF of 27.2%, backed by 95.9% availability. The hybrid portfolio achieved a CUF of 39.5% and a project availability of 99.6%.

AGEL posted an 84% year-over-year growth in net profit for Q3 FY25, reaching ₹5.43 billion (~$62.79 million) from ₹2.95 billion ($34.11 million).

AGEL emerged as the top utility-scale solar project developer in the first half of the calendar year 2024, according to Mercom’s India Solar Market Leaderboard 1H 2024. The company topped with a market share of 29.3%. Subscribe to Mercom’s Market Share Tracker for quarterly data insights on your competitors’ growth rates.