Adani Green Energy (AGEL) reported a 31% year-over-year (YoY) revenue surge, from ₹25.28 billion (~$291 million) to ₹33.13 billion (~$382 million) in the first quarter (Q1) of the financial year (FY) 2026.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹31.08 billion (~$358 million), up 31% from ₹23.74 billion (~$283 million) in Q1 FY 2025. The company also reported a 25% increase in cash profit, which rose to ₹17.44 billion (~$201 million) from ₹13.90 billion (~$166 million).

Earnings per share came in at ₹4.26 (~$0.049) against ₹2.63 (~$0.03) in the previous quarter.

AGEL’s revenue, EBITDA, and cash profit growth were a result of renewable energy capacity addition of 4.9 GW in Gujarat and Rajasthan, and enhanced project performance.

The company operationalized 2,463 MW of solar projects in Gujarat, 1,050 MW in Rajasthan, and 250 MW in Andhra Pradesh. It also commissioned 585 MW of wind and 534 MW of hybrid power projects in Gujarat.

Ashish Khanna, Chief Executive Officer at Adani Green Energy, said, “During Q1 FY 2026, we added 1.6 GW of greenfield renewable energy capacity. Our investments in the massive renewable energy development at Khavda in Gujarat, as well as other resource-rich sites, are delivering results both in terms of superior operational performance and industry-best EBITDA margins.”

AGEL also increased its energy sales by 42% YoY to 10,479 million units, supported by higher capacity additions. The company aims to reach a capacity of 30 GW by 2029.

AGEL’s solar segment maintained a capacity utilization factor (CUF) of 28% backed by 99.3% project availability. The wind portfolio achieved a CUF of 42.3% at 95.5% project availability, while the hybrid portfolio demonstrated a CUF of 43.9% aided by 98.6% project availability.

In March this year, AGEL completed a long-term refinancing of $1.06 billion (~₹92.56 billion) for developing wind-solar projects in Rajasthan. The maiden construction facility features a 19-year tenor, with a fully amortized debt structure aligned with the cash flow lifecycle.

AGEL reported a revenue of ₹26.66 billion (~$312.88 million) from power supply in Q4 FY 2025, a 37% YoY increase from ₹19.41 billion (~$227.79 million).