Adani Green FY26 Results: Revenue Up 22%, EBITDA Rises 23% as Growth Momentum Continues
Adani Green Energy reported a strong FY26 with 22% revenue growth, 23% EBITDA growth, and operational capacity jumping 35% to 19.3 GW on the back of 5,051 MW of greenfield additions.
Adani Green Energy reported FY26 revenue of ₹11,602 crore (up 22%) and EBITDA of ₹10,865 crore (up 23%), with operational capacity jumping 35% to 19.3 GW after adding 5,051 MW of greenfield capacity. Energy sales rose 34% to 37,567 million units, while the company targets 50 GW by FY '30 and 10+ GWh of battery storage by FY '27.
Adani Green Energy Ltd. (AGEL) delivered a strong set of numbers for FY26, showing that its expansion plans are steadily translating into real business growth. The company reported higher revenue, stronger profits, rising electricity generation, and a sharp jump in operating capacity during the year.
Investors responded positively to the update, with the stock trading approximately 2.25% higher at 3:00 PM following the announcement of the results on 24 April 2026.
A Strong Year on the Financial Front
| Metric | FY26 | FY25 | Growth |
|---|---|---|---|
| Revenue | ₹11,602 Cr | ₹9,495 Cr | +22% |
| EBITDA | ₹10,865 Cr | ₹8,818 Cr | +23% |
| Cash Profit | ₹5,399 Cr | ₹4,871 Cr | +11% |
| EBITDA Margin | 91.2% | 91.7% | Stable |
Source: NSE filing, 24 April 2026
Growth Was Backed by New Capacity
The real engine behind these numbers was capacity expansion. AGEL's operational capacity jumped 35% to 19.3 GW in FY26. During the year, the company added 5,051 MW of fresh greenfield renewable capacity.
That included:
| New Capacity Added in FY26 | MW |
|---|---|
| Solar | 3,412 MW |
| Wind | 683 MW |
| Hybrid | 956 MW |
| Total | 5,051 MW |
A major portion of this came from Khavda, Gujarat, which is becoming one of India's most important renewable energy zones.
Electricity Generation Also Picked Up
As more projects became operational, electricity sales naturally increased. AGEL reported the sale of energy up 34% to 37,567 million units in FY26. That is a meaningful jump and shows that newly added assets are already contributing.
The company even highlighted that this amount is roughly equal to Denmark's annual electricity consumption — a useful way to understand the scale.
Operations Stayed Efficient
One encouraging sign in the results was that plant performance remained strong. The company reported the following CUF (capacity utilisation factor):
| Segment | FY26 CUF |
|---|---|
| Solar | 24.0% |
| Wind | 26.6% |
| Hybrid | 35.2% |
Plant availability was also high across segments, meaning assets were running consistently and efficiently.
Debt Rose, But So Did Expansion
AGEL's net debt rose to ₹91,252 crore in FY26, compared with ₹64,462 crore in FY25. During the same period, the company reported capital expenditure of ₹30,365 crore, reflecting ongoing investments in capacity expansion and project development.
What Comes Next?
AGEL has set ambitious future targets:
- 50 GW operational capacity by FY30
- 10+ GWh battery storage capacity by FY27
That tells us the next phase may not just be about solar and wind, but also energy storage and hybrid solutions, which are becoming increasingly important for grid stability.
What the Market May Be Reading
The stock traded 2.25% higher after the results announcement, reflecting a positive initial market response.
FY26 performance showed growth across key metrics — revenue, EBITDA, energy generation, and operational capacity — while margins remained stable.
Going ahead, market focus is likely to remain on debt levels, execution of upcoming projects, and returns from newly added capacity.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors are advised to conduct their own due diligence and consult a SEBI-registered financial advisor before making any investment decisions. Sahi is a stock trading platform and does not recommend buying or selling any specific securities.