Why did Adani Green shares fall?
Adani Green shares dropped 5% following Bernstein's Underperform rating.
1Adani Green's Q1 performance
Adani Green Energy reported a 19% increase in consolidated net profit to Rs 845 crore in Q1 FY27. Revenue rose 16% to Rs 4,663 crore, while power supply revenue jumped 29% to Rs 4,280 crore.
2Operational capacity increase
The company's operational capacity grew by 27% to 20,142 MW, supported by greenfield capacity additions and higher production. Energy sales increased by 30% to 13,657 million units.
3Bernstein's concerns
Bernstein expressed concerns over Adani Green's new structure for the commercial and industrial segment, despite its leadership in renewable energy. The new structure shifted a portion of potential upside to Adani Energy Solutions.
4New structure and its impacts
Adani Green allocated its 4 GW operational and planned capacity, along with 10 GWhr of battery storage, to Adani Energy Solutions on a long-term fixed tariff basis. This structure allowed Adani Green to focus but resulted in losing some potential upside.
5Management commentary
CEO Ashish Khanna highlighted a strong start to FY27, surpassing the 20 GW operational capacity milestone. He emphasized the critical role of storage as renewable energy penetration increases.
6Future projects
Adani Green is progressing on the development of a 30 GW renewable energy plant in Khavda, Gujarat. The project spans an area five times the size of Paris and is planned for completion by 2029.
Original article: Economic Times — Adani Green hisseleri neden düştü?