Adani Green Gains 2.96% Stake from Promoter Entities

26 Sep 2024 , 01:12 PM

Hibiscus Trade and Investment and Ardour Investment Holding collectively acquired a 2.96% equity stake in Adani Green Energy Ltd.

Hibiscus Trade purchased 20.1 million shares (1.27% stake) between July 30 and September 18, 2024. Ardour Investment acquired 26.7 million shares (1.69% stake) between September 19 and 23, 2024.

Adani Green Energy posted a standalone net profit of ₹446 crore for the latest quarter, a 38% increase from ₹322 crore in the same period last year.

Revenue rose 31% to ₹2,834 crore, compared to ₹2,164 crore in the previous fiscal period. EBITDA increased by 17.3% to ₹2,442 crore, though margins dropped from 96.2% to 86.2%.

Adani Green expanded its operational capacity by 31% year-on-year, reaching 10,934 MW. Energy sales saw a 22% year-on-year growth, with a wind power capacity of 250 MW added at Khavda. Solar portfolio’s capacity utilization factor (CUF) reached 25.4%, supported by 99.4% plant availability. Wind portfolio CUF stood at 36.2%, backed by 96.8% plant availability.