Adani Green Reported 34 % Growth in Total Tncome for FY21 at Rs 3520 Crore

Adani Green Energy Ltd'(AGEL) total income rose to Rs 1082 crore in the March quarter from Rs 719 crore in the corresponding period a year ago.

A company release said it added 925 MW operational capacity in FY21 despite COVID-19 pandemic. AGEL has been declared L1 bidder for 13,550 MW new renewable projects in FY21.

It's total income for FY21 rose by 34 per cent YoY at Rs 3,520 crore from Rs 2629 crore earlier. Sale of energy for FY21 was up by 25 per cent YoY at 5,482 million units.

The release said the solar portfolio plant availability was up by 60 bps YoY at 99.5 per cent in FY21 and wind portfolio plant availability was up by 540 bps at 95.1 per cent in FY21. The cash profit up was by 121 per cent YoY at Rs 373 crore in Q4 FY21 and up by 136 per cent at Rs 1,250 crore in FY21. )

Total EBITDA (earnings before interest, taxes, depreciation, and amortization) was up by 33 per cent at Rs 715 crore in Q4 FY21 and up by 41 per cent at Rs. 2,632 crore in FY21. The revenue from power supply was up by 15 per cent YoY at Rs 690 crore in Q4 FY21 and up by 17 per cent YoY at Rs 2,419 crore in FY21.

The release said 648 MW solar plant at Kamuthi in Tamil Nadu became first water positive plant of its kind in the world and first Single Use Plastic (SUP) free plant of its kind in India. AGEL achieved zero Loss time and recordable injury in FY21.

It said sale of energy for FY21 increased by 25 pc YoY on the back of capacity addition of 925 MW and consistent Solar and Wind CUF. AGEL added 925 MW operational capacity in FY21 despite pandemic.

The release said AGEL is ranked as the largest developer of solar power in the world by US-based Mercom Capital.

Commenting on the quarterly results, Gautam Adani, Chairman, Adani Green Energy Limited, said the company is on track to contribute meaningfully to India's COP21 goals as well as to the wider UNFCCC goals of sustainability.

"I am gratified to see Adani Green Energy's results. About three years back we made a commitment to our shareholders that we would showcase India's ability to lead the renewable power revolution. Our ranking this year as the world's largest developer of solar power is testimony to this commitment, as is the investment that global majors are making in the AGEL portfolio. Despite all the challenges resulting from the pandemic, we have been resolute in our execution and stay confident of emerging as the world's largest renewable player before the end of the decade. We are also on track to contribute meaningfully to India's COP21 goals as well as to the wider UNFCCC goals of sustainability," he said.

Vneet S. Jaain, MD & CEO, Adani Green Energy Ltd said FY21 has been an eventful year for Adani Green Energy witnessed robust operational performance and rapid capacity build-up despite the pandemic.

"On ESG front, we had zero loss time and recordable injury in FY21. The 648 MW Solar Plant at Kamuthi, Tamilnadu becoming the First Water Positive Plant of its kind in the World and the First Single Use Plastic (SUP) free plant of its kind in India. The plant has also been conferred EHS Excellence Award from CII in FY21. AGEL's data analytics driven O&M, advance de-risking based development approach and disciplined yet transformational capital management will continue to ensure a steady progress towards target of having 25 GW operational capacity by 2025," he said.