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Gautam Adani – Chairman, Adani Group
Message from the Chairman

Accelerating Infrastructure,
Leveraging Intelligence

While others debated, your Group built, advancing its journey as the world's most integrated infrastructure platform – across energy, transport, logistics, utilities and industrial manufacturing.

GAUTAM ADANI

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Vneet S. Jaain – Managing Director, Adani Group

Message from the Managing Director

Today, with operational renewable capacity at 19.3 GW, we have reinforced our position as India’s largest pure-play RE company and established presence among the top 10 RE independent power producers globally.

Vneet S. Jaain

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Ashish Khanna – Managing Director, Adani Group

Message from the Chief Executive Officer

Our operations reflect a deeper shift underway, with energy transition reshaping how energy systems are financed, built and operated.

Ashish Khanna

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Adani Portfolio Of Companies

Driven by Synergies, Significance and Sustainability

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01 — 08
Adani Enterprises Limited
Adani Enterprises Limited Adani Ports & SEZ Adani Energy Solutions Adani Green Energy Adani Total Gas Ambuja Cements Adani Power NDTV
INDIA'S LARGEST Business Incubator
FY 2025-26
Revenue —
Adjusted EBITDA —
PAT —
(₹ in crore)

Stable, Predictable
Infrastructure-led Growth

Delivering Best-in-Class Performance, Consistently

₹ 0 crore
Consolidated revenue
▲ 0% 5-Year CAGR
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Consolidated Adjusted EBITDA
▲ 0% 5-Year CAGR
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Consolidated PAT
▲ 0% 5-Year CAGR

Free Cash Flow Powered by the Core Infra Platform

Free Cash Flow Powered by the Core Infra Platform

Infrastructure platform contribution in FY 2025-26

0%
of total revenue
0%
of total EBITDA
0%
of the total fund flow from operations

Solid Fundamentals

USD 0 billion
Portfolio-level cash balance
(as on March 31, 2026)
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Gross assets/net debt ratio
0x
Net debt/EBITDA
(below the guided 3.5x leverage range)
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Of the run rate EBITDA of ₹1,08,300 crore rated above 'A-'
0%
Return on Assets

Industry-Leading
by Design

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Key Performance

Indicators

Adani Green Energy Limited

Key Performance Indicators

Performance Highlights
Adani Green Energy Limited

Key Performance Indicators

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Revenue from Power Supply
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EBITDA and EBITDA Margin from Power Supply
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Cash Profit
0 X
Net Debt/Run-rate EBITDA
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Net Operational Debt/Run-rate EBITDA
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Rate of Return on Assets
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About Adani Green Energy Limited

AGEL is India’s largest and fastest-growing pure-play renewable independent power producer. We are committed to building a resilient and future-ready energy ecosystem, aligned with India’s net-zero goals and global climate commitments.

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Accelerating Responsible Growth
Business Model

Value Creation Model

Financial Capital

SDG goals
Inputs
  • ₹ 1,647 crore in equity
  • ₹ 1,00,163 crore in debt (including suppliers credit)
  • ₹ 8,912 crore cash and cash equivalents (inclusive of Margin money etc.)
Outcomes
  • ₹ 11,602 crore revenue from power supply
  • Industry-leading EBITDA margin of 91.2%
  • ₹ 5,399 crore cash profit
  • 5.7 net debt to run-rate EBITDA
Actions to Enhance Outcomes
  • Focus on merchant, commercial and industrial (C&I), contract for difference (CFD) and mid-duration hybrid opportunities
  • Cost optimisation through scale efficiencies and technology-led interventions

Manufactured Capital

SDG goals
Inputs
  • 19,294 MW operational portfolio (13,515 MW solar, 2,563 MW wind and 3,216 MW hybrid)
  • 1,376 MWh BESS (on despatchable basis)
Outcomes
  • 5,051 MW new capacity added
  • 24.0% CUF for Solar, 26.6% Wind and 35.2% Solar-Wind Hybrid
Actions to Enhance Outcomes
  • Leverage advanced technologies and standardised design and construction practices to reduce cost per MW and execution timelines
  • Capex of ₹ 30,365 crore and maintain execution speed
  • Coordinate with stakeholders to align project execution with grid-readiness

Human Capital

SDG goals
Inputs
  • 976 total employees
  • 35 average training hours per FTE in FY 2025-26
  • ₹ 150 crore spent on total employee benefits
Outcomes
  • ₹ 11.89 crore revenue per employee
  • Zero Employee fatality
  • 8,54,832 continuous safe person-hours
Actions to Enhance Outcomes
  • Align capability development with evolving RE technologies

Intellectual Capital

Inputs
  • Centralised cloud-based platform – Energy Network Operation Centre (ENOC)
  • Analytics and AI/ML powered O&M enabling real-time data availability
Outcomes
  • 99.2%, 95.6% and 98.5% plant availability for solar, wind and hybrid projects respectively, through continuous monitoring
  • Improved operational performance, seamless information flow and decision-making
Actions to Enhance Outcomes
  • Deepen AI and analytics capabilities
  • Institutionalise learnings from existing large-scale operations

Social & Relationship Capital

SDG goals
Inputs
  • Strategic partnerships with TotalEnergies, a multi-energy company
  • ₹ 47.39 crore CSR spending
  • 2,680 suppliers
Outcomes
  • 2,77,193 lives touched through social programmes
  • 41% marginal and vulnerable beneficiaries
  • 100% critical and important manufacturing suppliers evaluated on ESG parameters
Actions to Enhance Outcomes
  • Enhance the lives of people in the site vicinity (job opportunities, education, healthcare and community infrastructure)
  • Deepen relationship with strategic vendors and maintain ESG evaluation to build resilient, responsible supply chains

Natural Capital

SDG goals
Inputs
  • Deployed 71.5% robotic cleaning technology in solar portfolio to save water
  • Conducted ESIA study for 100% projects in planning stage
  • Integrating ESG aspects starting from site selection to maintain ecological balance
Outcomes
  • 99.7% less operational emission intensity per unit of generation than the Indian grid average
  • 99.6% less operational freshwater consumption per unit of generation than the statutory limit for thermal power
  • 7,90,764.41 KL water saved through robotic cleaning
  • 100% operating capacity Net Water Positive
  • Zero waste to landfill (ZWL) and Single-Use-Plastic (SUP)-free operations
Actions to Enhance Outcomes
  • Enhance EV fleet to reduce emissions
  • Progress towards no net loss of biodiversity
  • Ensure water positive, ZWL and SUP-free status across all-new sites
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Strategic Review

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01 / 03

Environment, Social
and Governance

Our ESG Approach

Our ESG Approach

In an increasingly evolving business landscape, marked by climate challenges, technological innovation and regulatory changes, the call for responsible business practices have never been more important.
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Environment

Environment

At AGEL, environmental stewardship and climate action are integral to our overall growth strategy. We are rapidly scaling renewable energy capacity to support India's decarbonisation and clean energy goals.
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Social - Our People

Social - Our People

As we expand, we are committed to building a talent-aligned, future-ready growth model. Our people philosophy emphasises an inclusive and values-driven workforce.
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Social - Occupational Health and Safety

Social - Occupational Health and Safety

Operational excellence starts with safety. We integrate global safety standards, technology-driven monitoring, and workforce engagement to drive a zero harm safety culture across all our operations.
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Social - Responsible Supply Chain

Social - Responsible Supply Chain

Our procurement approach integrates ESG principles, strong governance and supplier collaboration to promote ethical sourcing, environmental responsiveness, and long-term supply chain resilience.
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Social - Corporate Social Responsibility

Social - Corporate Social Responsibility

We engage deeply with our communities to understand their evolving aspirations and co-create solutions that deliver long-term value. In collaboration with the Adani Foundation, we are committed to empowering marginalised communities and shaping a brighter future for them.
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Corporate Governance

Corporate Governance

We remain committed to conducting our business operations with transparency, ethics and integrity. Guided by a strong tone from the top, our Board sets the culture of responsible governance.
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Cyber Security and Data Privacy

Cyber Security and Data Privacy

As the energy ecosystem becomes more digital and interconnected, the resilience and security of information assets have become fundamental to reliable operations and energy security.
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01-08

Download Centre

Approach to Integrated Reporting Portfolio Overview Corporate Overview Strategic Review
Integrated Annual Report 2025-26

Integrated Annual Report
2025-26

ESG Statutory Reports Financial Reports