Adani Green Energy Share Price Target
Adani Green Energy Share Q3 Result
December Quarter Results for Adani Green Energy (FY 2023-24):
- Integrated net profit surged by over 148 percent to Rs 256 crore.
- In the corresponding quarter of the previous financial year (FY 2022-23), the net profit stood at Rs 103 crore.
- Total income for the third quarter of the current financial year rose to Rs 2,675 crore.
- In the same period of the last financial year, total income was reported at Rs 2,256 crore.
Company’s Growth Strategy
The Chief Executive Officer (CEO) of the company, Amit Singh, outlined the strategic plans for future development. The recently announced equity and debt capital increase provides a secure foundation for achieving the targeted 45 GW capacity by 2030. A comprehensive capital management framework has been established to support this vision.
Operational Enhancements: Singh emphasized the company’s commitment to enhancing execution capacity. This involves a strategic focus on building a flexible supply chain, emphasizing localization, implementing large-scale digitalization, expanding the workforce, and fostering capability building.
Renewable Energy Plant in Gujarat: An ambitious project is underway, as the company is actively working on establishing the world’s largest renewable energy plant in Khavra, Gujarat.
Performance Highlights: The company demonstrated significant growth, with its operating capacity increasing by 16 percent year-on-year to 8,478 MW. In the period from April to December 2023, electricity sales recorded a remarkable 59 percent year-on-year increase, reaching 16,29.3 units.
Fundraising Update
Adani Green recently secured funds to retire its US $750 million bonds, accomplishing this eight months ahead of schedule. The Adani Group company successfully raised US$ 75 crore through the issuance of Non-Convertible Debentures (NCDs), with a maturity date set for September of this year. The decision to redeem the US$750 million bonds ahead of time was officially communicated by AGEL on January 8.
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Adani Green Energy About :
Adani Green Energy stands as the foremost renewable energy solutions provider in the country and globally. Specializing in the development, ownership, and operation of grid-connected solar, wind, and hybrid renewable energy plants, the company presently manages projects with a collective capacity of 8.4 GW across 12 states.
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