NSE/ADANIGREEN

ADANIGREENAdani Green Energy Ltd

Power · NSE

₹1,127.3+0.75%

52-wk low52-WEEK RANGE52-wk high

₹772.8+45.9% from low ·-2.2% from high₹1,152.15

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

ADANIGREEN+30.97% · 1Y

Range high ₹1,177.55Range low ₹765Latest ₹1,127.3252 bars · daily-close · NSE bhavcopy + 10Y history

PowerUtilities - RenewableAdani GroupLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite50/100

Performance

High

Amongst the strong performers in the market.

· 52w return +17.9%
· Trades 17.5% above 200-DMA — uptrend intact

Valuation

High

Looks expensive vs the sector.

· P/E 134.5 — 273% above sector median 36.0
· P/B 10.07 above sector median

Growth

Medium

Steady but not standout growth.

· Revenue YoY +10.7%
· Profit YoY +14.6%

Profitability

Medium

Average profitability vs peers.

· ROE 7.5% — weak returns on equity

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeD(38/100)

Durability

35/100

Mixed quality signals; requires deeper due diligence.

Show 4 drivers

Piotroski F-score5/9 (56pt)
Altman Z" score0.98 (27pt)
Debt/Equity2.96 (15pt)
ROE7.5% (30pt)

Valuation

5/100

Richly valued on most axes; limited margin of safety.

Show 3 drivers

P/E vs sector (134.5 / 36.0)373% (0pt)
P/B10.07 (0pt)
EV/EBITDA27.4 (25pt)

Momentum

74/100

Constructive setup — momentum building, not extended.

Show 5 drivers

52w change+17.9% (67pt)
DMA-trend alignmentup (75pt)
RSI (14)76.9 (65pt)
Price vs 200-DMA+14.3% (89pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)134.50

OVERVALUED

CheapestP/E 134.5 at 87th %ile — pricier than 87% of peers.Most expensive

P/B10.07

OVERVALUED

CheapestP/B 10.07 at 93th %ile of sector.Most expensive

EV/EBITDA27.35

OVERVALUED

Monthly seasonality

Avg monthly return over 8 years · historical — not a forecast

Best: Apr +16.55% · Worst: Feb -8.73%

Jan

-2.1%

38% win

Feb

-8.7%

38% win

Mar

+11.6%

50% win

Apr

+16.5%

63% win

May

+5.4%

86% win

Jun

+4.2%

Monthly return distribution

Distribution of 94 monthly returns

Mean

+6.78%

Median

+2.62%

Std dev

25.17%

Best

+125.4%

Worst

-60.3%

% positive

55%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 1

Consistent top-line growth (29.8% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake

WEAKNESSES · 4

Low return on equity (7.5%)
Below 10% ROE suggests inefficient use of shareholder capital
Leveraged balance sheet (D/E 2.96)
High debt amplifies earnings volatility in downturns
Premium to sector on P/E (+273%)
P/E 134.5 vs Power median 36.0
Distress-zone Altman Z″ (0.98)
Historically associated with elevated bankruptcy probability

OPPORTUNITIES · 0

No strong near-term catalysts visible

THREATS · 2

RSI overbought at 77
Above 75 often precedes consolidation or short-term pullbacks
Valuation compression risk
P/E 134.5 is 273% above sector — any growth miss gets punished

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+0.8%

+3.9%

+30.9%

+14.0%

+5.9%

+28.7%

+7.9%

-0.7%

10Y

+57.9%

Fundamentals

VALUATION

Market cap

₹1,89,870 Cr

P/E (TTM)

134.5

P/E (fwd)

56.2

next 12m

P/B

10.07

EV/EBITDA

27.4

Book value

₹114.43

per share

PROFITABILITY · QUALITY

ROE

7.5%

ROCE

—

Net margin

12.9%

Op margin

51.8%

Gross margin

91.0%

D/E

2.96

GROWTH · MARKET

Rev YoY

+10.7%

Profit YoY

+14.6%

Div yield

—

Payout

0.0%

52w change

+17.9%

Beta

0.80

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 4

+Forward P/E materially below trailing (56.2x vs 134.5x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Strong operating margin (51.8%)Meaningful pricing power or cost discipline — above most Indian companies
+3-year revenue CAGR of 29.8%Sustained multi-year growth — not a one-quarter flash
+3-year profit CAGR of 43.5%Consistently compounding earnings — the Buffett playbook

CONS · 4

−Trades at a premium to sector on P/EP/E 134.5 vs Power median 36.0 — priced for more growth than peers
−Very high absolute P/E (135x)At this multiple the market prices in several years of strong growth upfront — risk of correction if growth disappoints
−

Sector-relative context

Power · 15 peers

P/E (TTM)

This stock

134.50

Sector median

36.02

Rank 13/15 (20th %ile)

ROE

This stock

7.5%

Sector median

9.1%

Rank 9/15 (47th %ile)

P/B

This stock

10.07

Sector median

3.29

Rank 14/15 (13th %ile)

Quality score · Piotroski F-score

5 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✗ROA improved YoY· Getting more productive with the asset base
✗Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

DISTRESS0.98

Z″ = 0.98 — DISTRESS zone. Historical Altman-Z models have associated this range with elevated 2-year bankruptcy probability. Treat as a flag for deeper diligence, not a verdict.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.103	×6.56	0.672
Retained Earnings / Total Assets (B)	-0.005	×3.26	-0.017
EBIT / Total Assets (C)	0.045	×6.72	0.303
Book Equity / Total Liabilities (D)	0.022	×1.05	0.023

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

8 analysts · STRONG_BUY

Target mean

₹1181.38

Target high

₹1350.00

Target low

₹864.00

Upside vs today

+2.5%

Street consensus target is +2.5% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Utilities - Renewable

Employees

1,247

Shares out

164.7

Revenue (TTM)

₹12,638 Cr

EBITDA

₹10,164 Cr

Total debt

₹88,153 Cr

Cash

₹6,065 Cr

Net debt

₹82,088 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	3,005	2,340	2,958	3,800	2,618
Operating profit	1,596	1,262	1,633	2,275	1,355
OPM %	53.1%	53.9%	55.2%	59.9%	51.8%
Interest	1,448

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	5,133	7,775	9,220	11,212
Operating profit	2,670	4,244	5,444	6,407
OPM %	52.0%	54.6%	59.0%	57.1%
Interest	2,178	2,635	4,189	4,837

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
ADANIGREENTHIS Adani Green Energy Limited	₹1,127.3	+17.9%	1,89,870	134.5	10.07	7.5%	2.96	+10.7%
ADANIPOWER Adani Power Limited	₹198.5	-65.1%	3,87,295	34.3	6.63	19.4%	0.81	-8.9%
NTPC NTPC Limited	₹393.6	+8.0%	3,85,927	22.0	2.01	9.1%	1.18	+8.0%
POWERGRID Power Grid Corporation of India Limited	₹318.1	-0.6%	2,97,340	20.5	3.00	14.6%	1.41	+10.3%
ADANIENSOL Adani Energy Solutions Limited	₹1,259.8	+34.4%	1,51,290	67.5	6.48	9.6%	1.87	+15.4%
JSWENERGY JSW Energy Limited	₹538.05	+3.2%	95,366	41.7	3.25	7.8%	2.19	+67.4%
NTPCGREEN NTPC Green Energy Limited	₹111.96	+4.2%	94,796	163.0	5.06	—	1.16	—
NHPC NHPC Limited	₹83.56	-4.7%	83,314	53.2	2.01	—	1.00	-6.6%
PREMIERENE Premier Energies Limited	₹1,034.6	+2.5%	45,585	36.3	13.16	—	0.47	—

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	5.45	-0.31	-105.6%
-2q	8.08	3.98	-50.8%
-3q	7.11	4.34	-39.0%
-4q	3.43	1.91	-44.4%

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	1,564	1,584	1,584	1,584
Reserves	-313	582	1,592	3,031
Borrowings	52,832	54,224	64,858	80,040
Other liabilities	902	-1	881	1,177
Total liabilities	59,167	67,361	88,538	1,11,398
Fixed assets	48,911	53,981	69,385	95,825
CWIP	20,542	5,724	7,190	16,002
Investments	1	—	74	98
Other assets	83	67	61	43
Total assets	59,167	67,361	88,538	1,11,398

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	3,127	7,265	7,713	8,364
CF Investing	-19,348	-3,857	-21,060	-19,827
CF Financing	15,986	-2,973	13,953	12,068
Net cash flow	383	435	606	604
Free cash flow	-11,732	3,889	-8,060	-16,412

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	57.1%	59.0%	54.6%	52.0%
Net margin %	12.9%	11.9%	12.5%	9.5%
ROE %	37.1%	41.2%	57.0%	39.1%
ROCE %	9.2%	9.4%	7.4%	5.0%
Debt / Equity	17.34	20.42	25.03	42.23
Interest coverage	1.5×	1.4×	1.5×	1.3×
Revenue growth YoY	+21.6%	+18.6%	+51.5%	—
Profit growth YoY	+31.3%	+12.9%	+99.2%	—

ADANIGREENAdani Green Energy Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Power

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Technical snapshot

Earnings history + surprises

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Power