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Adani Green Energy Revenue History — Quarter by Quarter

Adani Green Energy's revenue moved from ₹2,162 Cr in Q1 FY24 to ₹3,502 Cr in Q4 FY26, a 62.0% change over 12 quarters. The table keeps each quarter linked back to the underlying earnings page.

Revenue by Quarter

QuarterRevenue (₹ Cr)YoY Change
Q4 FY26₹3,502 Cr+22%
Q3 FY26₹2,618 Cr+25%
Q2 FY26₹3,008 Cr+26%
Q1 FY26₹3,800 Cr+31%
Q4 FY25₹3,073 Cr+23%
Q3 FY25₹2,340 Cr+18%
Q2 FY25₹3,005 Cr+20%
Q1 FY25₹2,794 Cr+24%
Q4 FY24₹2,527 Cr+33%
Q3 FY24₹2,311 Cr+57%
Q2 FY24₹2,220 Cr+66%
Q1 FY24₹2,162 Cr—

What management said about revenue

G

Q4 FY26 · FY27 capacity addition of 4.5-5 GW

Management guided for 4.5-5 GW of new capacity in FY27, constrained by transmission evacuation availability.

G

Q4 FY26 · More than 90% of new capacity tied to long-term PPAs

Going forward, over 90% of capacity additions will be under long-term PPAs, reversing the FY26 anomaly of high merchant exposure.

G

Q4 FY26 · 50 GW target by 2030 unchanged

Management reaffirmed the 50 GW target by 2030, with no current revision despite near-term constraints.

G

Q3 FY26 · FY26 run-rate EBITDA of INR 17,000 crore

Management guided for FY26 run-rate EBITDA of INR 17,000 crore, including INR 1,000 crore other income, with power supply EBITDA at INR 16,000 crore.

G

Q3 FY26 · 50 GW operational capacity by 2030

Management reiterated target to achieve 50 GW operational renewable capacity by 2030, with 5.6 GW added in calendar 2025.

G

Q2 FY26 · 5 GW capacity addition in FY26

Management reaffirmed commitment to add 5 GW of renewable capacity in FY26, with 2.4 GW already commissioned in H1.

G

Q2 FY26 · 50 GW capacity target by 2030

Management reiterated the long-term target of 50 GW operational capacity by 2030, with steady progress on Khavda and other projects.

G

Q1 FY26 · 5 GW capacity addition target for FY26

Management confirmed on track to add 5 GW this fiscal, with 1.6 GW already commissioned in Q1.

G

Q1 FY26 · 50 GW target by 2030 remains fully funded

Capital management framework ensures growth is fully funded for the 50 GW target while maintaining credit discipline.

G

Q1 FY26 · 25% of capacity to target C&I/merchant markets by FY30

Strategy to allocate a quarter of portfolio to merchant, C&I, and hybrid contracts, including data center demand.

G

Q4 FY25 · 5 GW capacity addition in FY26

Management targets adding 5 GW of operational capacity in FY2026, with a total CapEx of INR 31,000 crore.

G

Q3 FY25 · FY25 capacity addition target of 5 GW

Company expects to add approximately 5 GW of new capacity in FY25, with 4.3 GW coming in Q4. Remaining ~1 GW delayed by 4-5 weeks into early Q1 FY26 due to monsoon and regulatory changes.