Adani Green Energy (AGEL) reported consolidated revenue from operations of ₹42.58 billion (~$449.08 million) in the second quarter (Q2) of the financial year (FY) 2027, an increase of 41.6% year-over-year (YoY) from ₹30.08 billion (~$317.25 million).

The company attributed the growth primarily to higher electricity sales, supported by the expansion of its operational portfolio.

The company’s consolidated profit after tax (PAT) increased 16% YoY to ₹7.47 billion (~$78.78 million) from ₹6.44 billion (~$67.92 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) from power supply rose 50.8% YoY to ₹38.35 billion (~$404.47 million) from ₹25.43 billion (~$268.20 million). The EBITDA margin improved to 92% from 90.5% in Q2 FY 2026.

The company attributed its EBITDA performance to higher electricity generation and lower operating and maintenance costs through its Energy Network Operations Center.

Diluted earnings per share (EPS) increased 16.3% YoY to ₹4.00 (~$0.042) from ₹3.44 (~$0.036) in the corresponding quarter last year.

First Half FY 2027

Consolidated revenue from operations increased 24.1% YoY to ₹86.89 billion (~$916.40 million) in the first half (1H) of FY 2027 from ₹68.08 billion (~$718.03 million).

Consolidated PAT increased 17.8% to ₹17.30 billion (~$182.46 million) from ₹14.68 billion (~$154.83 million) in the corresponding period last year.

EBITDA from power supply increased 40.8% YoY to ₹79.57 billion (~$839.21 million) from ₹56.51 billion (~$595.99 million). The EBITDA margin improved to 92.9% from 91.8%.

The company attributed the growth in revenue and EBITDA primarily to the addition of 4.08 GW of operational renewable energy capacity over the previous year.

Diluted EPS increased 17.5% YoY to ₹9.05 (~$0.095) from ₹7.70 (~$0.081) last year.

Operational Highlights

The company’s operational renewable energy capacity increased 24% YoY to 20.76 GW as of September 30, 2026, following the addition of 621 MW during the quarter and 4.08 GW over the previous year.

Energy sales increased 33% YoY during Q2 FY 2027. For the first half, energy sales rose 32% YoY to 25.747 billion units from 19.569 billion units.

During Q2, the company operationalized 3,081 MWh of battery energy storage system (BESS) capacity at Khavda, Gujarat, taking its total installed BESS capacity to 6,632 MWh as of September 30, 2026.

The company’s operational renewable energy portfolio comprised 14.55 GW of solar, 2.95 GW of wind, and 3.27 GW of hybrid capacity.

During the first half, the company’s solar portfolio recorded a capacity utilization factor (CUF) of 22.9%, supported by plant availability of 99.3%. The wind portfolio achieved a CUF of 42.9%, with plant availability of 94.6%, while the hybrid portfolio recorded a CUF of 45.2%, supported by plant availability of 98.8%.

The company said it had secured resource-rich sites at strategic locations, including Khavda, to achieve its target of more than 50 GW of renewable energy capacity, including 5 GW (30 GWh) of pumped storage and 50 GWh of BESS capacity, by 2030. It also aims to develop 50 GWh of BESS capacity over the next five years.

For its expansion plans, the company said financing facilities were available for approximately 5 GW of renewable energy projects and 2 GWh of BESS projects under construction.

AGEL posted revenue of ₹42.80 billion (~$443.52 million) in Q1 FY27, an increase of 29% YoY from ₹33.12 billion (~$343.21 million).