Adani Green hits record high after Q4 operational update

12 Apr 2022 , 01:18 PM

AGEL said its sale of energy increased by 84% YoY at 2,971 million units in Q4 FY22 as against 1,614 million units in Q4 FY21. This was backed by robust performance in both solar and wind portfolios.

The solar portfolio capacity utilisation factor (CUF) stood at 26.4% with 210 bps improvement YoY backed by about 100% plant availability. Sale of energy in this segment jumped 83% YoY in Q4 FY22, supported by capacity increase from 2,973 to 4,763 MW YoY. The CUF improved due to integration of high quality SB Energy portfolio having CUF of 28.3% for Q4 FY22; 20 bps improvement in plant availability; and 200 bps improvement in grid availability.

The firms wind portfolio CUF was at 23.6% with 140 bps improvement YoY backed by about 98% plant availability. Sale of energy in this segment jumped 92% YoY in Q4 FY22, backed by capacity increase from 347 MW to 647 MW YoY. CUF improved due to technologically advanced and more efficient newly added wind turbine generators; 270 bps improvement in plant availability; and 60 bps improvement in grid availability to 100%.

AGEL has acquired control of 150 MW operational wind assets from Inox towards end of March 2022.

AGEL is one of the largest renewable companies in India. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. The electricity generated is supplied to central and state government entities and government-backed corporations.

On a consolidated basis, the company reported a 12% rise in net profit to Rs 49 crore on a 92.5% jump in net sales to Rs 1,391 crore in Q3 FY22 over Q3 FY21.

Recently Abu Dhabi based International Holding Company PJSC (IHC) announced that it will invest about $500 million as primary capital in AGEL. This will help deleverage the balance sheet, strengthen the credit rating profile thereby helping reduce the cost of capital and support future growth.

Meanwhile, AGEL also raised $288 million construction facility thereby increasing the construction revolver pool to $1.64 billion.

Shares of AGEL have rallied 29.92% in three straight sessions. The stock hit a record high of 2,951.90 in intraday today.

In the past one year, it has surged 159.27% while the benchmark Sensex has added 21.92% during the same period.

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