Adani Green Energy Q2 Results FY2023, Cash profit at Rs. 1281 crores
On 10th November 2022, Adani Green Energy announced its quarterly results for the second quarter of FY2023.
Q2FY23 Performance updates:
- Revenue from Power Supply is up by 45% YoY at Rs. 2,435 crores
- Realized Carbon Credit income of Rs. 149 crores
- EBITDA from Power Supply is up by 52% YoY at Rs. 2,396 crores with a consistent EBITDA Margin of 92%
- Cash Profit up by 49% YoY at Rs. 1,281 crores
- Received a favorable order from APTEL for 288 MW Solar plants at Kamuthi, Tamil Nadu that would result in a one-time revenue upside of Rs. 568 crores and a recurring positive annual impact of Rs. 90 crores.
- The Solar CUF and Sale of Energy have improved with the integration of a high-quality SB Energy portfolio having a CUF of 26.3% in H1 FY23.
- The reduction in overall Wind portfolio CUF and Sale of Energy is primarily due to a one-off disruption in the transmission line (force majeure) for a 150 MW plant in Gujarat. The impact of this event in Q2 FY23 is expected to be ~ 0.4% of the expected annual generation of the overall operational capacity. Excluding the 150 MW above the plant, the Wind portfolio CUF stands at a robust 41.0% in H1 FY23.
- The newly commissioned solar-wind hybrid plants of 990 MW deploy bifacial PV modules and horizontal single-axis tracking (HSAT) technology to capture maximum energy from the sun as well as technologically advanced Wind Turbine Generators leading to a high hybrid CUF.
- The newly commissioned plants are managed by Adani Group’s intelligent ‘Energy Network Operation Center’ (ENOC) platform, which has proven technological capability and has aided AGEL in achieving superior operational performance for its entire renewable portfolio across diverse locations in India.
- The solid revenue growth is driven by greenfield commissioning of 1,315 MW and integration of SB Energy’s operating portfolio of 1,700 MW.
- The state-of-the-art ENOC enables real-time monitoring of our entire renewable portfolio with information access to the minutest level and automated alerts.
Commenting on the results, Mr. Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd said: “We are extremely proud of our teams for enabling the rapid development of India’s first and the world’s largest solar-wind hybrid cluster of 990 MW as well as Madhya Pradesh’s largest wind plant of 325 MW while ensuring cost-effectiveness and the highest quality standards. With our focus on delivering the cheapest green electron, we have continued to deploy the latest and most innovative technologies to maximize electricity generation at a lower cost. The globally well-recognized ESG ratings, that rank us ahead of some of the largest global utilities and RE players, are yet another proof of our commitment to a sustainable future and the highest governance standards at AGEL.”
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DisclaimerInvestment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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