Stock Name : Adani Green Energy Limited/Tips Open Buy : 859 Posted Date : Nov 6, 2020
Stopless/Horizon : 816 Target : 988 Results Achieved (Yes/No) :

Overview: Adani Green Energy limited was incorporated in 2015 and the company operates in Power sector. AGEL is a Large Cap company with a market capital of Rs 133942.18 Crore.

About the company: Adani Green Energy limited is a power generation company which builds and operates solar & wind energy power plants in India. AGEL’s current project portfolio is 13,990 MW. The company has a portfolio of 54 operational projects and 12 projects are under construction.

Adani Green Energy limited belongs to Adani Group, the company was established as a subsidiary of Adani Enterprises Limited (AEL). Adani Green Energy took the complete control of overall solar energy portfolio of Adani Enterprises in 2017 and got itself listed at NSE & BSE.

AGEL has several long-term Power Purchase Agreements (PPAs) with the Government of India and several state governments including Uttar Pradesh, Rajasthan, Punjab, Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Andhra Pradesh, Karnataka, Tamil Nadu, and Telangana.

AGEL’s Kamuthi Solar Power Project is one of the largest solar photovoltaic plants in the world. The company deploys the latest technologies in its projects.

In 2020, AGEL bagged one of world’s largest solar contract from Solar Energy Corporation of India (SECI) to develop 8 GW of solar projects along with a commitment to establish 2 GW of additional solar cell and module manufacturing capacity at cost of Rs. 45,000 croresby 2025.

With this contract, AGEL will have 15 GW capacity (including under operation projects as well as the projects which are under construction or under contract) thusquickening towards becoming the world’s largest renewables company by 2025.

Management: Mr. Gautam Adani is the group chairman &Mr. Vneet S. Jaain is the Managing Director &CEO of the Adani Green Energy.

Shareholding Pattern (As on 30-09-2020):
• Promoters: 58.51
• Foreign Promoters: 16.40
• Foreign Institutions: 22.43
• NBFC and Mutual Funds : 0.09
• Others: 0.34
• General Public: 2.05
• Financial Institutions: 0.18

Sales Report: For the quarter ended on the 30 June 2020, AGEL has posted a consolidated sale of Rs 778.51 Crore, which is up by 12.39 % from previous quarter’s sales of Rs 692.67 Crore and up by 17.81 % from preceding year’s same quarter sales which was Rs 660.81 Crore.

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