Q4FY24 Earnings: Adani Green Energy Reports EBITDA Of ₹7,222 Crore, Up 30% YoY In FY24

Adani Green Energy Ltd (AGEL), India’s largest and fastest growing pure-play renewable energy company, on Friday, May 3, announced financial results for the quarter and year ending 31 March 2024, the company announced through an exchange filing.

Financial & Operational Performance

• Revenue increases 33 per cent YoY to 7,735 crore

• Industry-leading EBITDA margin of 92 per cent

• Cash profit increases 25 per cent YoY to Rs 3,986 crore

• Operational Capacity increases 35 per cent YoY to 10.9 GW

• Deployed 2 GW of 30 GW under construction at Khavda, Gujarat, world’s largest RE project

• Targeted addition of 5 GW+ Hydro Pumped Storage capacity by 2030; kicked off the first project of 500 MW in Andhra Pradesh

• Sale of energy increases 47 per cent YoY to 21,806 million units

Other recent milestones

• Refinanced RG1 bond with fresh issuance of USD 409 million, oversubscribed by 6.5 times

• ‘Energy Revolution: The Adani Green Energy Gallery’ opened at the Science Museum in London, UK

• Rated ‘A-’ in CDP Climate Change 2023 assessment displaying environmental leadership

• Rated ‘A’ in the CDP supplier engagement rating 2023

• Ranked 1st in Asia and among Top 5 companies in the RE sector globally by ISS ESG

Amit Singh, Chief Executive Officer, Adani Green Energy Ltd, said, “I am immensely proud of the team for successfully deployed the first 2 GW of the 30 GW of renewable capacity under construction at Khavda in just 12 months of breaking ground. Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum. Aligned with the country’s need for accelerated integration of renewables into the grid, we are now focused on delivering energy storage in addition to solar, wind, and hybrid projects. Our goal is to commission at least 5 GW of hydro pumped storage projects by 2030. We remain steadfast in our commitment to deliver affordable clean energy at an unprecedented scale and velocity and have set a higher target of 50 GW by 2030, which will contribute towards India’s nonfossil fuel capacity target of 500 GW.”

Published on: Friday, May 03, 2024, 04:08 PM IST