Adani Green Energy (AGEL) posted revenue of ₹42.80 billion (~$443.52 million) in the first quarter (Q1) of the financial year (FY) 2027, an increase of 29% year over year (YoY) from ₹33.12 billion (~$343.21 million). The company attributed the growth primarily to higher electricity sales and the expansion of its operational portfolio.

Cash profit increased 28% YoY to ₹22.25 billion (~$230.57 million), compared with ₹17.44 billion (~$180.72 million) in the corresponding quarter of the previous year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) from power supply rose 33% YoY to ₹41.22 billion (~$427.15 million) from ₹31.08 billion (~$322.07 million). The EBITDA margin improved to 93.7% from 92.8% in Q1 FY 2026 and 90.5% in Q4 FY 2026.

The company said the margin was supported by higher generation and lower operating and maintenance costs through its Energy Network Operations Center.

Earnings per share for the quarter stood at ₹5.05 (~$0.05), an increase of 18.5% YoY from ₹4.26 (~$0.04) during the same period the year before.

The company’s power sales receivables totaled ₹18.61 billion (~$192.85 million) as of June 30, 2026, comprising ₹17.54 billion (~$181.76 million) that was not yet due and ₹1.07 billion (~$11.08 million) that was overdue.

Ashish Khanna, CEO at Adani Green Energy, said, “On the energy storage front, we commissioned 1,972 MWh of Battery Energy Storage System capacity during the quarter, taking our total installed BESS capacity to 3,551 MWh through one of the world’s largest single-location deployments.”

Operational Highlights

The company’s operational capacity stood at 20.14 GW as of June 30, 2026, following the addition of 848 MW during the quarter and 4.33 GW over the previous year. Energy sales increased 30% YoY to 13.657 billion units.

During the first quarter, the company operationalized BESS capacity of 1,972 MWh in Khavda, taking the total installed capacity to 3,551 MWh as of the end of Q1.

It secured resource-rich sites at strategic locations, including Khavda with one of the highest solar irradiation and wind speeds, to achieve a 50+ GW target, including 5 GW (30 GWh) of pump storage and 50 GWh of BESS capacity by 2030.

For its expansion plans, the company said financing facilities were available for approximately 5 GW of renewable energy projects and around 2 GWh of battery storage projects under construction. The company cited $1.125 billion (~$11.66 million) of promoter warrants and free cash flow to fund the equity requirement for its 50 GW target, along with $1.5 billion (~$15.54 million) of non-fund-based credit lines for short-term funding requirements. It also has a $3.4 billion (~$35.23 million) revolving construction facility.

AGEL’s revenue increased by 13.7% YoY to ₹37.27 billion (~$396.22 million) in the fourth quarter of FY 2026, from ₹32.78 billion (~$348.49 million).

In April, Adani Renewable Energy Middle East, a wholly owned subsidiary of AGEL, and Minerva Holding formed a joint venture company to set up renewable energy projects in India.