Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Q1 FY27 Earnings Presentation
41 slides from Adani Green Energy's earnings presentation, Jul 22, 2026
Slide 1: Submission of Presentation on Operational & Financial highlights
Date: July 22, 2026 To BSE Limited The National Stock Exchange of India Limited P J Towers, “Exchange Plaza”, Dalal Street, Bandra – Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 541450 Scrip Code: ADANIGREEN Dear Sir, Sub: Submission of Presentation on Operational & Finan
Slide 2: Adani Green Energy Ltd Earnings Presentation Q1 FY27
Adani Green Energy Ltd Earnings Presentation Q1 FY27 Consolidated Financial Performance AGEL’s Renewable Energy Plant in Khavda, Gujarat
Slide 3: Financial Performance at a Glance: Q1 FY27 (YoY)
AGEL: Financial Performance at a Glance: Q1 FY27 (YoY) Consistent Robust Financial Performance Revenue1 EBITDA1 Cash Profit ₹4,280 Cr ₹4,122 Cr ₹2,225 Cr ▲ 29% ▲ 33% ▲ 28% 1. From Power Supply AGEL’s Renewable Energy Plant in Khavda, Gujarat
Slide 4: Table of Contents
Table of Contents 1 Adani Portfolio 2 AGEL: Company Profile 3 AGEL: Operational & Financial Highlights 4 AGEL: ESG 5 AGEL: Investment Rationale Annexures Hamburger Menu Icon with solid fill 3
Slide 5: Adani Portfolio
adani Renewables O1 Adani Portfolio
Slide 6: Adani Portfolio: A World Class Infrastructure & Utility Portfolio
Adani Portfolio: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Other Incubator Materials, Metal Energy & Utility Transport & Logistics Specialty & Mining (74.84%) (62.43%) (74.96%) (66.03%) (67.29%)3 AEL1 AGEL APL APSEZ Ports & Log
Slide 7: Adani Portfolio: Best-in class growth with national footprint
Adani Portfolio: Best-in class growth with national footprint All figures in INR cr Predictable, high and rising free cash flow National footprint with deep coverage EBITDA Tax paid 94,834 Finance cost paid CAT (FFO) 67,995 (72%) EBITDA 24,870 AEL 12,784 APSEZ (51%) 22,259 Adani’s Core Infra. AGEL (
Slide 8: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited | Cemindia Projects Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Constructi
Slide 9: Replicating Group's Simple yet Transformational Business Model
AGEL: Replicating Group's Simple yet Transformational Business Model Secure Sites & Connectivity Resource Assessment Construction Readiness ~2,50,000 acres of resource rich sites Geotechnical studies Development ~5+ GW of PSP sites secured 50+ GW potential & Special studies (AIIL) 10+ GWhr of Front-
Slide 10: Adani Green Energy Limited (AGEL): Company Profile
02 Adani Green Energy Limited (AGEL): Company Profile AGEL’s Solar plant at Anjar, Gujarat
Slide 11: India's largest Renewable Energy and Storage Portfolio
AGEL: India’s largest Renewable Energy and Storage Portfolio Leading India’s Energy Transition Key Metrics RE Portfolio spread across Operational Q1 FY27 2030E 12 resource rich states (as of June 30, 2026) 14 Bn 20.1 GW ► ► 50 GW 10% 5 GW of Pumped Units Generation ▲30% YoY 16% RE 8% Storage 25% Sol
Slide 12: Deploying renewable energy at unprecedent scale and speed
AGEL: Deploying renewable energy at unprecedent scale and speed Robust RE Capacity Growth to continue Well secured resource rich sites Renewable Energy Capacity in GW CAGR 27% 50.0 CAGR 41% 19.3 Solar, Wind & 2.5 Hybrid, BESS Development in FY20A FY26A FY30E Gujarat & Rajasthan Hydro PSP Focused on
Slide 13: Operational & Financial highlights
03 Adani Green Energy Limited (AGEL): Operational & Financial highlights AGEL’s Dayapar Wind Cluster, Gujarat
Slide 14: Executive Summary – Q1 FY27
AGEL: Executive Summary – Q1 FY27 Capacity Addition & Operational Performance • Operational capacity increased by 27% YoY to 20,142 MW with greenfield addition of 4,327 MW. The capacity addition during the quarter was 848 MW • Operationalized BESS capacity of 1,972 MWh1 in Khavda during Q1FY27 in on
Slide 15: Operational Capacity Addition & Sale of Energy – Q1 FY27 YoY Performance
AGEL: Operational Capacity Addition & Sale of Energy – Q1 FY27 YoY Performance Operational Capacity (in MW AC) Hybrid 27% ✓ Operational capacity increased by 27% YoY to 20,142 20,142 Wind MW with greenfield addition of 4,327 MW 15,816 3,266 Solar 2,670 – Operationalized 3,051 MW solar power plants 2
Slide 16: Khavda World's largest Single-Location Renewable Energy Site
AGEL: Khavda World’s largest Single-Location Renewable Energy Site Strategically located in Resource rich region of Gujarat A Renewable Energy Marvel in the Making ▪ All projects to be developed on contiguous land in Khavda Significant Scale Renewable Park Efficiencies ▪ Significant scale efficienci
Slide 17: Growth in overall electricity generation and PPA commitment v/s actuals
AGEL: Growth in overall electricity generation and PPA commitment v/s actuals Steady growth in generation Generation in Mn units 1 37,567 27,969 8,995 21,878 5,274 19,222 347 6,988 2,213 13,657 10,791 4,344 778 1,365 2,391 5,498 154 20,753 20,483 21,585 4,388 17 130 14,724 3,660 5,406 75 9,296 7,606
Slide 18: Operational Performance Metrics
AGEL: Operational Performance Metrics − Real time monitoring of operating assets across 12 states through Energy Network Operations Center at Ahmedabad − Granular performance insights − Predictive Maintenance optimizing Mean time between failure (MTBF) − Suggests corrective actions in real time redu
Slide 19: Financial Performance – Q1 FY27 YoY
AGEL: Financial Performance – Q1 FY27 YoY (All figures in INR Crore) Revenue from Power Supply EBITDA from Power Supply 1 Cash Profit 2 ▲ 29% ▲ 33% ▲28% 4,280 EBIDTA (%) 92.8% 93.7% 3,312 4,122 2,225 3,108 1,744 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 ▪ Robust growth in revenue and EBITDA pr
Slide 20: ESG Framework & Commitments
Adani Green Energy Limited (AGEL): 04 ESG Framework & Commitments Crisil rated AGEL ESG Risk Assessment & FTSE Russell ranks AGEL Received Clean Power Insights Generation Award at the Reuters Energy Industry Highest in Indian RE sector on Rated AGEL highest in Indian 1st globally in alternative Awar
Slide 21: Assurance backed ESG framework
AGEL: Assurance backed ESG framework Guiding principles India Business & IFC E&S United Nations UN SDGs and Green Bond SBTi Biodiversity Performance Global Compact UNGP Principles Initiative (IBBI) Standards Guiding Policies principles Disclosure Standards IFRS S2 TNFD GRI Standards CDP disclosure B
Slide 22: Substantial Avoidance of CO2 Emissions
AGEL: Substantial Avoidance of CO2 Emissions CO2 Emissions avoided (mn ton) Key ESG Targets Indicator Target Status 95.4 Ranking in ESG benchmarking of electric utility Ranked among the top 10 in ESG Top 10 sector in the world benchmarking by 7 ESG rating agencies Achieved and Sustained with Net wat
Slide 23: ESG Ratings, Awards & Recognitions
AGEL: ESG Ratings, Awards & Recognitions RE Sector Ranking 1 Rating Agency Rating/Score Awards and Recognition Global India Score of 4.7 / 5 1 1 • Received Clean Power Generation Award at the Global Ranking Reuters Energy Industry Awards 2026 held in New York Score of 79.79 / 100 Leadership 1 Prime
Slide 24: Investment Rationale
05 Investment Rationale AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 25: Key Investment Highlights
AGEL: Key Investment Highlights Key Investment Highlights 1 • Secured resource rich sites at strategic locations including Khavda with one of the highest solar irradiation Resource and wind speed to achieve 50+ GW target including 5 GW (30 GWh) of Pump Storage (PSP) and 50 GWh Tied up of BESS capaci
Slide 26: Annexure - A: Financial Performance – Q1 FY27
Annexure - A Financial Performance – Q1 FY27 STRICTLY CONFIDENTIAL
Slide 27: Financial Performance – Q1 FY27 QoQ
AGEL: Financial Performance – Q1 FY27 QoQ (All figures in INR Crore) Revenue from Power Supply EBITDA from Power Supply 1 Cash Profit 2 ▲ 38% ▲ 40% ▲ 49% EBIDTA (%) 90.5% 93.7% 4,280 2,225 4,122 3,094 2,944 1,494 Q4 FY26 Q1 FY27 Q4 FY26 Q1 FY27 Q4 FY26 Q1 FY27 ▪ Robust growth in revenue and EBITDA p
Slide 28: Annexure - B: Receivables Details
Annexure - B Receivables Details STRICTLY CONFIDENTIAL
Slide 29: Power Sales Receivables Ageing Profile as on 30-June-2026
AGEL: Power Sales Receivables Ageing Profile as on 30-June-2026 INR Cr Due Counterparty Not due 0-60 Days 61-90 Days 91-120 Days 120-180 Days >180 Days Total Due Solar Energy Corporation of India Limited 478 - - - - 19 19 Tamilnadu Generation and Distribution Corporation 179 - - - - - - Uttar Prades
Slide 30: Annexure - C: Asset Level Details
Annexure - C Asset Level Details STRICTLY CONFIDENTIAL
Slide 31: Asset Level Details: Solar - Operational
Asset Level Details: Solar - Operational Contracted Capacity Capacity Tariff Counterparty PPA SPV Project Location Type COD/Operationalized (AC) (DC) (INR/ kWh) Name Term Tamil Nadu Solar 216 260 7.01 Mar-16 TANGEDCO 25 Tamil Nadu Solar 72 86 7.01 Feb-16 TANGEDCO 25 AGE23L (Earstwhile Tamil Nadu Sol
Slide 32: Asset Level Details: Solar - Operational (contd.)
Asset Level Details: Solar - Operational (contd.) Contracted Capacity Capacity Tariff Counterparty PPA SPV Project Location Type COD/Operationalized (AC) (DC) (INR/ kWh) Name Term AGE23L (Earstwhile PN Punjab Solar 20 21 8.7 Mar-21 PSPCL 25 Clean) 1 AGE23L (Earstwhile PN Punjab Solar 10 11 8.65 Feb-
Slide 33: Asset Level Details: Solar - Operational (contd.)
Asset Level Details: Solar - Operational (contd.) Contracted Capacity Capacity Tariff Counterparty PPA SPV Project Location Type COD/Operationalized (AC) (DC) (INR/ kWh) Name Term ASEKANPL Karnataka Solar 200 300 2.82 19-Dec SECI 25 ASEAPSPL Andhra Pradesh Solar 350 455 4.63 Jul-17 NTPC 25 ASERJOPL
Slide 34: Asset Level Details: Solar - Operational (contd.)
Asset Level Details: Solar - Operational (contd.) Contracted Capacity Capacity Tariff Counterparty PPA SPV Project Location Type COD/Operationalized (AC) (DC) (INR/ kWh) Name Term AGE25AL Gujarat Solar 25 34 2.42 Feb-25 SECI 25 AGE25AL Gujarat Solar 12 17 2.42 Feb-25 SECI 25 AGE25AL Gujarat Solar 12
Slide 35: Asset Level Details: Solar - Operational (contd.)
Asset Level Details: Solar - Operational (contd.) Contracted Capacity Capacity Tariff Counterparty PPA SPV Project Location Type COD/Operationalized (AC) (DC) (INR/ kWh) Name Term ARE56L3 Gujarat Solar 50 69 - Apr-25 C&I 25 ARE56L3 Gujarat Solar 100 137 2.42 Apr-25 SECI 25 ARE45L2 Gujarat Solar 50 6
Slide 36: Asset Level Details: Solar - Operational (contd.)
Asset Level Details: Solar - Operational (contd.) Contracted Capacity Capacity Tariff Counterparty PPA SPV Project Location Type COD/Operationalized (AC) (DC) (INR/ kWh) Name Term ARE56L3 Gujarat Solar 13 17 2.42 Sep-25 SECI 25 ARE56L3 Gujarat Solar 88 120 2.42 Sep-25 SECI 25 ARE56L3 Gujarat Solar 8
Slide 37: Asset Level Details: Solar - Operational (contd.)
Asset Level Details: Solar - Operational (contd.) Contracted Capacity Capacity Tariff Counterparty PPA SPV Project Location Type COD/Operationalized (AC) (DC) (INR/ kWh) Name Term AGE26AL Gujarat Solar 50 68 2.54 Mar-26 SECI 25 ASEB1L Baiya Solar 251 341 2.55 Mar-26 NHPC 25 AGE25CL Gujarat Solar 50
Slide 38: Asset Level Details: Wind - Operational (contd.)
Asset Level Details: Wind - Operational (contd.) Contracted Capacity Tariff SPV Project Location Type Capacity (DC) COD/ Capitalization Counterparty Name PPA Term (AC) (INR/ kWh) AGEL – Lahori Madhya Pradesh Wind 12 12 5.92 Mar-16 MPPMCL 25 AWEGPL Gujarat Wind 30 30 4.19 Mar-17 GUVNL 25 AWEGPL Gujar
Slide 39: Asset Level Details: Hybrid - Operational (contd.)
Asset Level Details: Hybrid - Operational (contd.) Contracted Capacity Planned Capacity Planned Capacity Tariff SPV Project Location Type Counterparty Name PPA Term (AC) (AC) (DC) (INR/ kWh) Solar: 360 Solar: 540 AHEJOL Rajasthan Hybrid 390 2.69 SECI 25 Wind: 100 Wind: 100 AHEJTL 2 Solar: 600 Solar:
Slide 40: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Green Energy Limited (“AGEL”),the future outlook and growth prospects, and fut
Slide 41: Thank You
adani Renewables Thank You