Detailed Summary

Operational Performance Highlights

  • Capacity Addition: Operational capacity increased by 27% YoY to 20,142 MW with greenfield addition of 4,327 MW. The capacity addition during the quarter was 848 MW.
  • Breakdown of Additions:
  • 3,051 MW solar power plants operationalized (2,662 MW in Khavda, Gujarat and 389 MW in Rajasthan)
  • 684 MW wind power plants operationalized in Khavda, Gujarat
  • 592 MW hybrid power plants operationalized in Khavda, Gujarat
  • BESS Deployment: Operationalized battery energy storage system (BESS) capacity of 1,972 MWh in Khavda during Q1 FY27, taking total installed BESS capacity to 3,551 MWh as of June 30, 2026.
  • Energy Sales: Sale of energy increased by 30% YoY to 13,657 million units in Q1 FY27.
  • Plant Performance:
  • Solar portfolio CUF at 25.3% with 99.5% plant availability
  • Wind portfolio CUF at 44.4% with 95.3% plant availability
  • Hybrid portfolio CUF at 49.0% with 98.8% plant availability

Financial Performance

  • Revenue from Power Supply: ₹4,280 crore, up 29% YoY
  • EBITDA from Power Supply: ₹4,122 crore, up 33% YoY (almost twice the annual EBITDA for FY21)
  • EBITDA Margin: Industry-leading margin of 94%
  • Cash Profit: ₹2,225 crore, up 28% YoY
  • Cash Profit Calculation: PAT + Depreciation + Deferred Tax + Exceptional Items
  • EBITDA Calculation: Revenue from Power Supply + Carbon credit income + prompt payment discount - Employee benefit expenses excluding overseas expenses - Other one-off expenses

ESG Achievements & Recognition

  • ESG Ratings:
  • Highest sectoral ESG Risk Rating score of 77 from ESG Risk Assessment & Insights Ltd. (SEBI-registered Category I ESG Rating Agency)
  • Retained highest CRISIL ESG Score in Indian Power Sector for fifth consecutive year in FY26 (score improved from 66 to 69)
  • Ranked among Top 10 companies globally in ESG evaluation by seven leading ESG rating agencies
  • Awards: Received Clean Power Generation Award at Reuters Energy Industry Awards 2026 in New York
  • Environmental Performance:
  • Achieved and sustained Net Water Positive Goal for 100% operational portfolio with water balance index of 2.14 (30% YoY improvement)
  • 99.9% less operational emission intensity per unit of generation (0.0008 GHG tCO2/MWh) vs Indian grid average of 0.710 tCO2/MWh
  • 99.8% less freshwater consumption per unit of generation (0.007 kl/MWh) vs statutory limit of 3.5 kl/MWh for thermal power
  • India's largest waterless robotic cleaning deployed over 12.4 GW solar capacity (72.2% of total 17.2GW solar fleet)
  • Safety Performance: 1.74 million continuous safe man hours; 0.15 LTIFR and 75,349 safety training hours in Q1FY27

Khavda Renewable Energy Site

  • World's largest single-location renewable energy site
  • Unprecedented scale and speed of execution with project management through Adani Infra India Limited (AIIL)
  • Includes 9,520 MW RE capacity for AGEL's generation and 742 MW capacity for other Adani group companies

Investment Rationale

  • Strong execution capabilities with large single-location projects driving capital and time efficiency
  • Deep procurement relationships and supply chain reliability with backward integration at Adani Portfolio level
  • Operational excellence through cloud-based analytics, AI-driven asset intelligence, and high plant availability
  • Funding secured for non-diluted growth: Promoter's USD 1.125 Bn warrants and FCFE to fund 50 GW equity requirement
  • Non-fund based credit lines of USD 1.5 Bn to support short-term funds

Receivables Information

  • Total receivables: ₹1,754 crore not due, ₹107 crore due
  • Receivables days (due) stand at 2 days as of June 30, 2026
  • Major counterparties include Solar Energy Corporation of India Limited (₹478 crore not due, ₹19 crore due), Tamilnadu Generation and Distribution Corporation (₹179 crore not due), and C&I customers (₹647 crore not due)

Annexure Details

The presentation includes extensive asset-level details covering:

  • 14,206 MW solar capacity across multiple states with tariffs ranging from ₹2.42-9.27/kWh
  • 2,669 MW wind capacity primarily in Gujarat with tariffs ranging from ₹2.65-5.92/kWh
  • 3,266 MW hybrid capacity with weighted average tariff of ₹2.87/kWh
  • All projects have 25-year PPAs with various counterparties including SECI, state discoms, and C&I customers

Disclaimer

The document contains forward-looking statements subject to various risks and uncertainties. It does not constitute an offer to purchase or sell any securities.