New Delhi, Nov 18: Adani Green Energy has received a ‘BUY’ rating from JM Financial Institutional Securities, with a target price of Rs 1,289 per share.
This optimistic outlook is supported by the company’s strong growth pipeline, steady cash flows, and plans to increase renewable capacity to 50 GW by 2030, notably through a large 30 GW renewable energy park in Gujarat.
The company boasts a strong execution track record, favorable land holdings, and technology advancements, which enhance efficiency. Currently, 81% of its capacity is secured by long-term power purchase agreements, contributing to predictable cash flows.
Over the past three years, the firm has shown substantial financial growth, with revenue, EBITDA, and profit after tax all experiencing significant CAGR. Looking forward to FY25-FY28, it is projected to sustain robust growth rates with expected CAGR of 29% in revenue and 41% in profit, alongside an improved EBITDA margin of 83%.
