Jefferies has adjusted its outlook on Adani Green Energy (ADANIGR: IN), reducing the price target to INR2,000 from INR2,130, while continuing to endorse the stock with a Buy rating.
The revision follows Adani Green’s quarterly performance, which did not meet analyst expectations, with EBITDA coming in 8% lower than anticipated.
The report highlighted that Adani Green added 250 MW of capacity in the quarter, which was significantly less than the 1250 MW that had been expected.
The shortfall in capacity addition has been attributed to extended monsoon seasons, especially in Khavda, which has resulted in a more back-loaded addition schedule for the Financial Year 2025E.
In response to the delayed execution and its impact on the company’s performance, Jefferies has revised downward its EBITDA forecasts for the fiscal years 2025E to 2027E. Despite these adjustments, the firm recognizes the strategic position of Adani Green as India’s largest listed pure renewable energy generation company.
Adani Green Energy is on a mission to expand its capacity more than fourfold, from 11 GW to 50 GW by the year 2030.
This ambitious growth trajectory is part of the company’s commitment to increasing its renewable energy footprint and contributing to India’s clean energy goals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
