Adani Green Energy Q2 results, quarter to Sep 2026

NSE: ADANIGREENBSE: 541450PowerLarge Cap

Adani Green Energy Limited · Face value ₹10 · Listed Jun 2018

₹1,307.00₹38.00 (2.99%)BSE ₹1,303.70

Share price at the NSE close on 29 Oct 2026. Previous close ₹1,269.00.

29 Oct: open ₹1,269.90, high ₹1,314.00, low ₹1,269.80

52-week range of traded prices to 29 Oct 2026

₹765.00Low, 23 Jan 2026₹1,631.50High, 14 Jul 2026

Market cap: ₹2,15,286 Cr46th largest listed
P/E: 114.88
P/B: 9.97
Dividend yield: Nonein the last 12 months
ROE: 9.1%
ROCE: 6.3%
Debt to equity: 3.56
Volume, NSE: 18,50,373

Adani Green Energy filed its Q2 results for the quarter to Sep 2026 on 21 Oct 2026 at 5:04 pm, consolidated: the company and its subsidiaries together.

Q2 results, quarter to Sep 2026

₹ crore.Adani Green Energy annual results and balance sheet

Revenue: ₹4,258 Cr+41.6% on a year ago · −3.9% on the quarter before
Operating profit: ₹3,797 Cr+45.9% on a year ago · −4.7% on the quarter before
Net profit: ₹747 Cr+16.0% on a year ago · −24.0% on the quarter before
Earnings per share: ₹4.00+16.3% on a year ago · −20.8% on the quarter before
Operating margin: 89.2%
Net margin: 17.5%

From revenue to net profit, ₹ crore

Revenue4,258
Materials and goods−122
Employee costs−28
Other expenses−311
Operating profit3,797
Depreciation−1,084
Other income+262
Finance costs−2,119
Profit before tax856
Tax−191
Joint ventures+82
Net profit747

Adani Green Energy results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Sep 2026. Results for the quarter to Dec 2026 are due by 14 Feb 2027, 45 days after it ends. Every company's dates are on the results calendar.Results filings and date

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Dec 2021Q3	Mar 2022	Jun 2022Q1	Sep 2022	Dec 2022Q3	Mar 2023	Jun 2023Q1	Sep 2023	Dec 2023Q3	Mar 2024	Jun 2024Q1	Sep 2024	Dec 2024Q3	Mar 2025Q4	Jun 2025Q1	Sep 2025Q2	Dec 2025Q3	Mar 2026Q4Filed 24 Apr	Jun 2026Q1Filed 22 Jul	Sep 2026Q2Filed 21 Oct
Revenue from operations	1,400	1,461	1,635	1,586	1,973	2,598	2,162	2,220	2,311	2,527	2,834	3,055	2,365	3,073	3,800	3,008	2,618	3,502	4,431	4,258
	357	489	687	720	1,120	334	81	521	645	676	414	850	764	680	758	405	377	620	446	461
Materials and goods bought	407	310	263	352	694	439	95	218	411	463	219	588	261	371	421	47	12	228	35	122
Employee costs	9	9	9	9	11	11	17	19	23	18	34	28	31	35	33	47	37	33	22	28
Other expenses	−59	170	415	359	415	−116	−31	284	211	195	161	234	472	274	304	311	328	359	389	311
Operating profit before depreciation	1,043	972	948	866	853	2,264	2,081	1,699	1,666	1,851	2,420	2,205	1,601	2,393	3,042	2,603	2,241	2,882	3,985	3,797
Operating margin	74.5%	66.5%	58.0%	54.6%	43.2%	87.1%	96.3%	76.5%	72.1%	73.2%	85.4%	72.2%	67.7%	77.9%	80.1%	86.5%	85.6%	82.3%	89.9%	89.2%
Depreciation and amortisation	260	274	280	298	330	392	451	474	481	497	593	618	615	663	767	834	886	885	1,026	1,084
Other income	71	126	66	100	285	390	228	369	364	279	288	321	265	214	206	241	219	225	232	262
Finance costs	813	667	458	498	617	1,338	1,393	1,165	1,242	1,206	1,440	1,369	944	1,368	1,525	1,635	1,698	1,626	2,001	2,119
Profit before one-off items and tax	41	157	276	170	191	924	465	429	307	427	675	539	307	576	956	375	−124	596	1,190	856
One-off items	0	−15	0	0	−69	−125	−50	−16	−100	−80	−47	−97	−16	−166	−17	−83	−11	−108	−2	0
Profit before tax	41	142	276	170	122	799	415	413	207	347	628	442	291	410	939	292	−135	488	1,188	856
	−7	21	59	24	63	307	142	119	68	82	179	26	−109	118	232	−237	−37	56	263	191
Current tax	−2	−6	1	−1	1	92	43	78	31	−74	57	7	6	98	94	−24	54	68	49	71
Deferred tax	−5	27	58	25	62	215	99	41	37	156	122	19	−115	20	138	−213	−91	−12	214	120
Tax rate	−17.1%	14.8%	21.4%	14.1%	51.6%	38.4%	34.2%	28.8%	32.9%	23.6%	28.5%	5.9%	−37.5%	28.8%	24.7%	−81.2%	–	11.5%	22.1%	22.3%
Share of profit of joint ventures and associates	1	–	−3	3	44	15	50	77	117	45	180	99	74	91	117	115	103	82	58	82
	49	121	214	149	103	507	323	371	256	310	629	515	474	383	824	644	5	514	983	747
Belonging to the company's shareholders	–	–	–	–	–	508	322	372	225	150	446	276	492	230	713	583	−41	397	845	673
Belonging to outside owners of subsidiaries	–	–	–	–	–	−1	1	−1	–	160	183	239	−18	153	111	61	46	117	138	74
Other comprehensive income	−14	−18	−116	48	−63	75	−103	38	39	20	54	17	69	−84	−27	52	17	88	−65	185
Total comprehensive income	35	103	98	197	40	582	220	409	295	330	683	532	543	299	797	696	22	602	918	932
Net margin	3.5%	8.3%	13.1%	9.4%	5.2%	19.5%	14.9%	16.7%	11.1%	12.3%	22.2%	16.9%	20.0%	12.5%	21.7%	21.4%	0.2%	14.7%	22.2%	17.5%
Net margin without joint ventures and associates	3.4%	–	13.3%	9.2%	3.0%	18.9%	12.6%	13.2%	6.0%	10.5%	15.8%	13.6%	16.9%	9.5%	18.6%	17.6%	−3.7%	12.3%	20.9%	15.6%
Earnings per share	₹0.14	₹0.58	₹1.18	₹0.74	₹0.47	₹3.02	–	₹2.17	₹1.42	–	₹2.63	₹1.56	₹2.92	–	₹4.26	₹3.44	−₹0.38	₹2.33	₹5.05	₹4.00
Diluted earnings per share	₹0.14	₹0.58	₹1.18	₹0.74	₹0.47	₹3.02	–	₹2.17	₹1.42	–	₹2.63	₹1.54	₹2.92	–	₹4.26	₹3.44	−₹0.38	₹2.33	₹5.05	₹4.00

Earnings per share in rupees, restated for later splits and bonuses.

The quarters either side of a change of basis do not compare. From the quarter to Mar 2025, the company's revenue for the year to Mar 2025, ₹11,212 Cr, differs from its quarters added, ₹11,327 Cr.

The quarter to Jun 2023 was restated in the company's filing of 31 Oct 2023. The table shows the restated figures.

Segment results by quarter

Consolidated, ₹ crore, quarters to Sep 2026.Adani Green Energy segment results by year

Renewable power generation and other related ancillary activities
Revenue, ₹ crore
2,834
2,688
3,371
2,960
2,605
3,274
4,394
4,159
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Profit, ₹ crore
628
396
931
291
−136
484
1,182
854
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Sale of Goods / Equipments and Related Services
Revenue, ₹ crore
499
675
818
349
312
528
341
534
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Profit, ₹ crore
107
124
147
137
125
107
77
121
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26

₹ crore	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue of all businesses	–	–	3,381	3,348	2,571	3,363	4,189	3,309	2,917	3,802	4,735	4,693
Company revenue, as in its results	2,311	2,527	2,834	3,055	2,365	3,073	3,800	3,008	2,618	3,502	4,431	4,258
Revenue	–	–	2,834	–	–	2,688	3,371	2,960	2,605	3,274	4,394	4,159
Revenue growth	–	–	–	–	–	–	–	–	–	21.8%	30.3%	40.5%
Profit	–	–	628	–	–	396	931	291	−136	484	1,182	854
Profit growth	–	–	–	–	–	–	–	–	–	22.2%	27.0%	193.5%
Margin	–	–	22.2%	–	–	14.7%	27.6%	9.8%	−5.2%	14.8%	26.9%	20.5%
Assets	–	–	–	–	–	1,10,107	1,16,566	1,24,315	1,31,762	1,42,540	1,51,304	1,60,346
Liabilities	–	–	–	–	–	88,412	89,117	95,840	1,03,800	1,14,179	1,22,443	1,30,376
Capital employed	–	–	–	–	–	21,695	27,449	28,475	27,962	28,361	28,861	29,970
Revenue	–	–	–	–	499	675	818	349	312	528	341	534
Revenue growth	–	–	–	–	–	–	–	–	–	−21.8%	−58.3%	53.0%
Profit	–	–	–	–	107	124	147	137	125	107	77	121
Profit growth	–	–	–	–	–	–	–	–	–	−13.7%	−47.6%	−11.7%
Margin	–	–	–	–	21.4%	18.4%	18.0%	39.3%	40.1%	20.3%	22.6%	22.7%
Assets	–	–	–	–	1,077	1,291	716	1,562	1,490	1,557	1,744	1,567
Liabilities	–	–	–	–	247	413	367	278	175	39	0	0
Capital employed	–	–	–	–	830	878	349	1,284	1,315	1,518	1,744	1,567
Revenue	–	–	–	–	2,072	–	–	–	–	–	–	–
Profit	–	–	–	–	367	–	–	–	–	–	–	–
Margin	–	–	–	–	17.7%	–	–	–	–	–	–	–
Assets	–	–	–	–	1,01,468	–	–	–	–	–	–	–
Liabilities	–	–	–	–	79,992	–	–	–	–	–	–	–
Capital employed	–	–	–	–	21,476	–	–	–	–	–	–	–
Revenue	–	0	547	293	–	–	–	–	–	–	–	–
Profit	–	0	216	97	–	–	–	–	–	–	–	–
Margin	–	–	39.5%	33.1%	–	–	–	–	–	–	–	–
Revenue	–	–	–	3,055	–	–	–	–	–	–	–	–
Profit	–	–	–	418	–	–	–	–	–	–	–	–
Margin	–	–	–	13.7%	–	–	–	–	–	–	–	–
	–	0	–	–	–	–	–	–	–	–	–	–
Profit	–	0	–	–	–	–	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	0
Profit	–	–	–	–	–	–	–	–	–	–	–	−119
Assets	–	–	–	–	–	–	–	–	–	–	–	0
Liabilities	–	–	–	–	–	–	–	–	–	–	–	0
Revenue	–	–	–	–	–	–	–	–	–	0	−304	–
Profit	–	–	–	–	–	–	–	–	–	−103	−71	–
Assets	–	–	–	–	–	–	–	–	–	0	0	–
Liabilities	–	–	–	–	–	–	–	–	–	0	0	–

Profit is before tax and finance costs, the way companies report their segments.