Execution risk for H2 commissioning
With only 200 MW added in H1, the company needs to commission ~2.6 GW in H2 to meet its 2.8-3 GW target. Any delays in Khavda or module supply could cause slippage.
high · analyst_question
Adani Green Energy Limited — Q2 FY24
Adani Green Energy reported a strong H1 FY2024 with revenue from power supply up 66% YoY to INR 4,029 crore and EBITDA up 58% to INR 3,775 crore, driven by a 78% increase in ene...
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
ALMM compliance for imported modules
An analyst raised concerns about using Chinese modules (non-ALMM) for projects with SCOD near March 2024. Management clarified that current projects are exempt, but future projects may face restrictions.
medium · analyst_questionModule price volatility
While recent module price declines benefit returns, management noted that prices are volatile and a $0.01 change impacts IRR by 1-1.2%. A sudden price spike could affect project economics.
medium · management_commentaryRefinancing risk for Holdco bond
The $750 million Holdco bond maturing in FY2025 is expected to be repaid from a group liquidity pool, but any disruption in group-level liquidity could create refinancing pressure.
medium · management_commentary