Adani Green Q4FY23 PAT up 4-fold at Rs508 crore on higher gross margins and forex gains
Adani Green Energy reported 88.8% higher net revenues for the March 2023 quarter at Rs2,130 crore. The revenues were up 69.05% on a sequential basis. For FY23, the company reported a 57% growth in EBITDA at Rs5,538 crore. In terms of operating capacity, it touched 49% at 8,086 MW in FY23, the biggest operational renewable portfolio in India.
During FY23, Adani Green has added 2,676 MW of renewable capacity to its existing fleet and that includes the 2,140 MW solar-wind hybrid plant in Rajasthan. Cash profits for the fiscal year were up 72% at Rs3,192 crore. Sale of energy in FY23 was up 58% at 14,880 million units with the best plant availability in the renewable power segment. AGEL has a strong counterparty profile with 86% being sovereign or sovereign equivalent.
Financial highlights for Mar-23 compared yoy and sequentially
| Adani Green | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
| Total Income (Rs cr) | ₹ 2,130 | ₹ 1,128 | 88.83% | ₹ 1,260 | 69.05% |
| Net Profit (Rs cr) | ₹ 508 | ₹ 121 | 319.83% | ₹ 103 | 393.20% |
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| Diluted EPS (Rs) | ₹ 3.02 | ₹ 0.58 |
| ₹ 36.68 |
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| Net Margins | 23.85% | 10.73% |
| 8.17% |
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Over the last 5 years, the operational capacity of Adani Green has increased by 33% CAGR while the EBITDA from power supply has gone up by 46% CAGR. The net margins of the company at 23.85% in the latest quarter is higher than 10.73% in the year ago quarter and 8.17% in the sequential quarter.