Summary: Adani Green Energy’s Q2 FY27 revenue from power supply rose 45% year on year to ₹4,019 crore, while power-supply EBITDA increased 51% to ₹3,835 crore. Energy sales grew 33% to 12,090 million units and cash profit advanced 45% to ₹1,951 crore. The gains followed renewable-capacity additions, although leverage and the pace of further battery investment remain important monitoring points.
Adani Green Energy’s September-quarter financials show that the capacity and energy-sales growth reported earlier this month translated into faster power revenue, operating earnings and cash profit.
What Happened
Revenue from power supply increased to ₹4,019 crore in Q2 FY27 from ₹2,776 crore a year earlier, a 45% rise. EBITDA from power supply grew 51% to ₹3,835 crore, while the corresponding margin improved to 92.0% from 90.5%.
Cash profit rose 45% to ₹1,951 crore from ₹1,348 crore. Reuters reported consolidated quarterly profit of ₹747 crore, up nearly 16% from ₹644 crore a year earlier.
Energy sales increased 33% year on year to 12,090 million units during the quarter. On a first-half basis, operational renewable capacity rose 24% to 20.8 GW, supported by 4,083 MW of year-on-year greenfield additions.
The company also reported 6.63 GWh of operational battery energy storage at Khavda after adding 3.08 GWh in Q2. It said that installed base represented more than half of India’s operational battery-storage capacity.
Why It Matters
For a renewable power producer, capacity additions matter only when projects begin generating electricity and converting contracted output into revenue and cash. Adani Green’s Q2 power-supply revenue and EBITDA growth outpaced its 33% increase in energy sales, while the EBITDA margin also expanded.
Battery storage can reduce curtailment and make solar and wind output more useful when generation and demand do not coincide. However, rapid construction requires substantial funding. Adani Green reported first-half capital expenditure of ₹17,160 crore and net debt equal to 5.6 times run-rate EBITDA.
Market Impact
Financial Express reported that Adani Green shares were down 4.02% intraday on October 21. Because the complete results were disclosed late in the session, that decline should not be treated as a clean market reaction to the earnings. The next session will offer a clearer test of how investors weigh stronger operating performance against leverage and capital spending.
Industry Context
India’s renewable build-out increasingly combines generation, storage and transmission. Large solar and wind projects need grid connections and flexible capacity to reduce curtailment and supply electricity outside peak generation periods. Battery systems can respond quickly, but their economics depend on equipment costs, utilisation and payment structures.
BusinessNews1 previously covered Adani Green’s H1 capacity and energy-sales update. The new results add the financial detail that was not available in that operating disclosure.
What To Watch Next
- Revenue and cash conversion from recently commissioned renewable capacity.
- Progress toward management’s FY27 battery-storage guidance.
- Net debt relative to run-rate EBITDA as capital expenditure continues.
- Transmission availability and curtailment at Khavda.
- The first full trading-session response to the results.
FAQs
How much was Adani Green’s Q2 power revenue?
Revenue from power supply reached ₹4,019 crore in Q2 FY27, up 45% from ₹2,776 crore a year earlier. This company-defined metric focuses on electricity operations. It should not be confused with total consolidated revenue, which can include other operating and non-operating income reported under accounting standards.
What was Adani Green’s Q2 EBITDA?
EBITDA from power supply rose 51% year on year to ₹3,835 crore. The related margin improved to 92.0% from 90.5%. Adani Green defines this measure using power revenue, carbon-credit income, prompt-payment discounts and selected operating expenses, so it is a company-specific operating metric.
How large is Adani Green’s battery capacity?
The company reported 6.63 GWh of operational battery energy storage at Khavda after adding 3.08 GWh during Q2. Battery capacity is measured in gigawatt-hours and is distinct from renewable generating capacity measured in gigawatts. Future economic contribution will depend on utilisation, contracts, grid needs and financing costs.
