In This Article:
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Energy Sales: Increased by 23% year-on-year to 20 billion units for the first 9 months ending December 31.
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Revenue from Power Supply: Increased by 18% year-on-year, reaching INR 6,829 crores.
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EBITDA from Power Supply: Increased by 18% year-on-year to INR 6,366 crores.
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Cash Profit: Surged by 23% year-on-year to INR 3,630 crores.
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Greenfield Capacity Addition: Added 3.1 gigawatts, marking a 37% growth, bringing total operational portfolio to 11.6 gigawatts.
Release Date: January 24, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Adani Green Energy Ltd (BOM:541450) contributed to 15% of nationwide new solar capacity and 12% of new wind installations in 2024, highlighting its leadership in the renewable energy sector.
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Energy sales increased by 23% year-on-year to 20 billion units, with revenue from power supply rising 18% year-on-year to INR 6,829 crores.
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EBITDA from power supply grew by 18% year-on-year to INR 6,366 crores, and cash profit surged by 23% year-on-year to INR 3,630 crores.
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The company added 3.1 gigawatts of greenfield capacity, marking a 37% growth and bringing the total operational portfolio to 11.6 gigawatts, the largest in the country.
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Adani Green Energy Ltd is making significant progress in expanding its PPA pipelines and is committed to delivering above-market return expectations with a strategic objective of 50 gigawatts by 2030.
Negative Points
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Extended monsoon and regulatory changes have caused a shift in the construction timeline, affecting the capacity addition targets for the year.
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There are challenges with transmission delays, which have shifted many projects to the right, impacting project timelines.
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The company faces potential cost increases due to ALMM and ALCM compliance, although it expects these to stabilize as domestic manufacturing capacity grows.
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DISCOMs are showing reluctance to sign PPAs due to a backlog, posing a challenge for securing long-term agreements.
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The company is cautious about aggressive competitive behavior in battery storage tenders, which could impact the attractiveness of storage costs.
Q & A Highlights
Q: Can you provide details on your full-year capacity addition target and the focus on battery storage? A: Amit Singh, CEO: We aim to add approximately 5 gigawatts of new capacity this year, with 4.3 gigawatts expected by the end of this fiscal year. The remaining capacity will be ready shortly after. For battery storage, we see a long-term trend of growth and aim to take a leadership position, focusing on RTC power demand and C&I customers.