Adani Green Q1 FY27 Results (NSE: ADANIGREEN)
Signal: Slipped to loss
The read
Standalone results show a net loss of ₹51 Cr due to a one-time exceptional impairment of ₹165 Cr on subsidiary investments, masking an underlying operating loss before exceptional items of ₹86 Cr (vs profit of ₹73 Cr YoY). Revenue growth of 29% YoY was driven by equipment sales to group companies, but cost of goods sold grew faster, squeezing margins. The consolidated group results, which are the primary concern for shareholders, were not disclosed in the provided filing text; the prior series indicates Q1 consolidated revenue likely around ₹3,500-3,800 Cr range. The US DOJ/SEC matter is still pending final judgments, though a motion to dismiss has been filed.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹6,206 Cr | 29.4% | -0.7% |
| Net profit | ₹-51 Cr | -250.0% | |
| EPS | ₹-0.31 | -381.8% |
P&L walk
Consolidated financial results statement is not printed in the provided filing text; only auditor's review report is included. Standalone results discussed below.
Key positives
- Revenue from equipment sales grew 29.4% YoY, indicating continued activity in renewable project execution within the group.
Key concerns
- Standalone net loss of ₹51 Cr due to exceptional impairment provision of ₹165 Cr, suggesting concerns about recoverability of investments in subsidiaries.
- Operating profit before exceptional items turned negative at -₹86 Cr vs +₹73 Cr YoY, driven by cost growth outpacing revenue.
- Finance costs rose 13.7% YoY, adding to the bottom-line pressure.
- Dilution from warrant conversion (shares up 2.2 Cr) worsened EPS even further.
Research and educational content only. Not investment advice.