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ADANIGREEN - Fundamental Analysis: Financial Health & Valuation

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Rating: 2.6

Last Updated Time : 03 Feb 26, 06:04 pm

Fundamental Rating: 2.6

Stock Code ADANIGREEN Market Cap 1,53,558 Cr. Current Price 932 ₹ High / Low 1,179 ₹
Stock P/E 208 Book Value 89.8 ₹ Dividend Yield 0.00 % ROCE 8.87 %
ROE 9.41 % Face Value 10.0 ₹ DMA 50 952 ₹ DMA 200 1,026 ₹
Chg in FII Hold 0.13 % Chg in DII Hold 1.33 % PAT Qtr 82.0 Cr. PAT Prev Qtr 475 Cr.
RSI 39.5 MACD -47.8 Volume 41,47,657 Avg Vol 1Wk 47,81,579
Low price 758 ₹ High price 1,179 ₹ PEG Ratio 1.86 Debt to equity 1.18
52w Index 41.4 % Qtr Profit Var -85.3 % EPS 4.11 ₹ Industry PE 25.4

📊 Core Financials

  • Revenue & Profitability: PAT dropped sharply from 475 Cr. to 82 Cr. (–85.3% variance), showing severe earnings volatility.
  • Margins: ROE at 9.41% and ROCE at 8.87% are weak, reflecting poor efficiency.
  • Debt: Debt-to-equity ratio of 1.18 indicates high leverage, adding financial risk.
  • Cash Flow: Profitability is inconsistent, raising concerns about sustainability.

💹 Valuation Indicators

  • P/E Ratio: 208 vs. industry average of 25.4 — extremely overvalued.
  • P/B Ratio: Current price (₹932) vs. book value (₹89.8) → ~10.4x, premium valuation.
  • PEG Ratio: 1.86, suggesting growth is priced at a premium.
  • Intrinsic Value: Valuation appears stretched given weak profitability and high debt.

🏢 Business Model & Competitive Advantage

  • Adani Green Energy operates in renewable energy, focusing on solar and wind power projects.
  • Competitive advantage lies in scale, government contracts, and strategic positioning in India’s renewable energy push.

📈 Technicals & Entry Zone

  • DMA 50 (₹952) and DMA 200 (₹1,026) are above current price, showing weakness.
  • RSI at 39.5 indicates oversold territory; MACD negative suggests bearish sentiment.
  • Entry Zone: Attractive only on dips near ₹850–900 for long-term investors.
  • Long-Term Holding: Risky at current valuations; suitable only if earnings stabilize and debt is reduced.


✅ Positive

  • Strong positioning in renewable energy sector with government support.
  • FII holdings increased (+0.13%) and DII holdings increased (+1.33%), showing institutional confidence.
  • Large market capitalization (₹1,53,558 Cr.) ensures stability.

⚠️ Limitation

  • Extremely high P/E ratio (208) compared to industry average (25.4).
  • Weak ROE (9.41%) and ROCE (8.87%).
  • Dividend yield of 0.00% offers no immediate shareholder return.

📉 Company Negative News

  • Quarterly profit variance –85.3%, showing severe earnings decline.
  • MACD negative (–47.8), indicating bearish momentum.

📈 Company Positive News

  • Institutional support increased with both FII and DII holdings rising.
  • Strong demand outlook for renewable energy projects in India.

🏭 Industry

  • Renewable energy sector benefits from government initiatives and global clean energy push.
  • Industry average P/E (25.4) highlights Adani Green’s extreme overvaluation.

🔎 Conclusion

  • Adani Green Energy shows strong sector positioning but faces severe earnings volatility and stretched valuations.
  • High debt and weak return ratios make current levels risky.
  • Recommendation: Avoid fresh entry at current price; accumulate only on dips near ₹850–900. Long-term holding viable only if profitability stabilizes and ROE/ROCE improve.

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