Adani Green Energy Limited — Q2FY27 earnings call summary

Filed 26 October 2026 · Official transcript

Battery storage capacity at 6.6 GWh, >50% of India's operational BESS; target to exceed 10 GWh in FY27
Capex program INR 2.4 lakh Cr through FY30; focus on disciplined execution and 13-14% ROA with AA+ counterparties
H1 FY27 energy sales up 32% y-y to 25.7 billion units; revenue 8,299 Cr +36% y-y; EBITDA 7,957 Cr +41% y-y with 93% margin
Q2 FY27 revenue 4,019 Cr +45% y-y; EBITDA 3,835 Cr +51% y-y; EBITDA margin 92%
Leverage expected to peak till FY28 at ~5.6x, tapering to below 4x post FY30 with asset amortization
Multiple analyst queries on transmission, battery tie-ups, curtailment, and interest rates addressed with management reaffirming targets and strategy
Interest cost stable at ~8.9%; 72% loans fixed rate medium-term; rating upgrades reduce cost
Transmission delays at Khavda mitigated by accelerated BESS deployment; curtailment impact reduced