Adani Green Energy Gains After Q4 PAT Grows 63% YoY to Rs 104 cr
Adani Green Energy rose 1.33% to Rs 1,080 after the company’s consolidated net profit soared 62.5% to Rs 104 crore on 41.3% surge in net sales to Rs 979 crore in Q4 FY21 over Q4 FY20.
The sale of energy for Q4 FY21 increased by 24% Y-o-Y (year-on-year) to 1,614 million units as against 1,303 million units in Q4 FY20. Total EBITDA jumped 33% to Rs 715 crore in Q4 FY21 from Rs 539 crore in Q4 FY20. Cash profit climbed 120% to Rs 373 crore in Q4 FY21 over Rs 168 crore in Q4 FY20.
Adani Green Energy (AGEL) added 925 mega-watt (MW) operational capacity in FY21 despite pandemic. In FY21, AGEL commissioned 100 MW solar plant in Rajasthan, 250 MW solar plant in Gujarat, 125 MW solar plant in Uttar Pradesh and 100 MW wind plant in Gujarat.
The company has also completed acquisition of 205 MW solar plants from Essel Group, 75 MW solar plants from Sterling & Wilson, 50 MW solar plants from SkyPower Global, 20 MW solar plant from Hindustan Powerprojects.
Commenting on the quarterly results of the company, Gautam Adani, the chairman of Adani Green Energy, said: “Despite all the challenges resulting from the pandemic, we have been resolute in our execution and stay confident of emerging as the world’s largest renewable player before the end of the decade. We are also on track to contribute meaningfully to India’s COP21 goals as well as to the wider UNFCCC goals of sustainability.”
Vneet S. Jaain, MD & CEO, Adani Green Energy said, “FY21 has been an eventful year for Adani Green Energy witnessing robust operational performance and rapid capacity build-up despite the pandemic, new strategic alliances and tie up of a revolving project finance facility.
AGEL’s data analytics driven O&M, advance de-risking based development approach and disciplined yet transformational capital management will continue to ensure a steady progress towards target of having 25 GW operational capacity by 2025.”
AGEL has one of the largest global renewable portfolios with 15 GW (giga-watts) of operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.
Source: Capital Market
