Adani Green Energy Limited (AGEL), a leading player in India’s renewable energy sector, is back in focus after global brokerage firm Jefferies initiated a bullish recommendation. The firm has issued a "Buy" rating on AGEL with a target price of ₹1,300, implying an upside potential of approximately 30% from current levels.

AGEL, headquartered in Ahmedabad, develops, owns, and operates large-scale renewable energy projects across India, focusing on solar, wind, and hybrid power generation.


Current Market Overview

  • CMP: ₹1,009.90

  • Market Cap: ₹1.6 lakh crore

  • Previous Close: ₹1,015.10

  • Potential Upside: ~29%


Why Jefferies is Bullish on AGEL

Jefferies is optimistic due to AGEL’s strong Q1 FY26 performance, where:

  • EBITDA increased by 26%, beating estimates by 3%.

  • Power generation surged 42% YoY, driven by better capacity utilization and 1.6 GW of new capacity added.

  • Jefferies has upgraded EBITDA estimates for FY26E to FY28E by 4-5%.

The management also reaffirmed confidence in achieving 5 GW capacity addition in FY26, which could further enhance profitability and valuation.


About Adani Green Energy Ltd (AGEL)

  • Founded: 2015

  • Parent Group: Adani Group (with minority stake by TotalEnergies)

  • Operational Capacity: Over 14 GW across 12 states

  • 2030 Target: 50 GW renewable capacity

  • Iconic Projects: Kamuthi Solar Power Project, Jaisalmer Hybrid Cluster

AGEL is India’s largest renewable energy company and a key contributor to the country’s decarbonization goals.


Financial Highlights

  • Q1 FY25 Revenue: ₹2,794 crore

  • Q1 FY26 Revenue: ₹3,800 crore (+36.01% YoY)

  • Q1 FY25 Net Profit: ₹629 crore

  • Q1 FY26 Net Profit: ₹824 crore (+31% YoY)

  • CAGR (4 Years):

    • Revenue: 29.75%

    • Net Profit: 59.95%

  • EPS: ₹10.7

  • ROCE: 8.7%

  • ROE: 14.6%

  • Debt-to-Equity Ratio: 6.59x


Conclusion

With a strong order book, ambitious growth targets, and positive financial momentum, Adani Green Energy Limited appears poised for significant growth. Jefferies’ buy call with a ₹1,300 target underscores investor confidence in the stock’s long-term potential.