Merchant solar price volatility
Q1 solar merchant realization was ~INR 4/unit, below the guided INR 4-4.5, due to seasonal softening.
medium · analyst_question
Adani Green Energy Limited — Q1 FY25
Adani Green reported a strong Q1 FY25 with revenue from power supply up 24% YoY to INR 2,528 crore and EBITDA margin of 92.6%, driven by tech-enabled O&M and capacity additions...
bullish
high
✓ Verified against BSE filing
Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Execution risk in pumped storage
Pumped storage CapEx is INR 4.5-5 crore/MW, but equipment is imported and supplier details undisclosed, posing supply chain risk.
medium · analyst_questionDependence on promoter warrants for funding
Management stated no equity dilution needed, relying on promoter warrants and internal cash flows, which may be constrained if execution slips.
low · analyst_questionRegulatory changes in solar imports
New import duty on solar glass may increase module costs, though management claims limited near-term impact due to ALMM exemptions.
low · analyst_question