Adani Green Energy reported a 16% rise in quarterly profit as a delayed transmission connection shaped ICICI Securities’ outlook, according to a brokerage account carried by NDTV Profit.
The company’s unaudited financial statements show consolidated profit after tax of ₹747 crore for the quarter ended Sept. 30, 2026. Total income increased 39.1% year over year to ₹4,520 crore. In a separate results release, Adani Green said revenue from power supply rose 45% to ₹4,019 crore and power-supply EBITDA climbed 51% to ₹3,835 crore. Energy sales grew 33% to 12,090 million units.
NDTV Profit reported that ICICI Securities kept its Add rating but lowered its target price to ₹1,430 from ₹1,650. The brokerage also reduced the multiple it applied to locked-in EBITDA to 14 times from 16 times.
The figures in the brokerage summary carried by NDTV Profit were ₹4,140 crore in revenue, ₹3,800 crore in EBITDA and ₹660 crore in profit after tax. They differ from the company’s reported figures, and the article did not explain how the measures compare.
NDTV Profit attributed the target cut in part to a delay in commissioning a seven-gigawatt transmission line. ICICI Securities had expected the line to ease a connectivity constraint by December 2026, but the outlet reported commissioning was delayed by at least a quarter. The brokerage said reduced grid availability could mean lost EBITDA and cited project delays and lower-than-estimated generation as risks. The issue follows transmission limits covered in EconoTimes’ earlier report on Adani Green’s H1 solar grid availability.
Adani Green added 3,081 megawatt-hours of battery energy storage capacity at Khavda in Q2, bringing the site’s installed capacity to 6,632 MWh. The company said that was more than half of India’s operational battery storage capacity. CEO Ashish Khanna said the company was expanding storage while “closely monitoring the availability of transmission infrastructure.” Its operational renewable portfolio reached 20.8 gigawatts in the first half of FY27, up 24% year over year. Adani Green is developing a 30 GW renewable energy plant at Khavda and targets 50 GW of capacity by 2030.
The company’s investor calendar lists Jan. 20, 2027, as the scheduled board date for Q3 FY27 results; the date is subject to change.
