Adani Green Energy Ltd. (NSE: ADANIGREEN) was listed on the NSE and BSE on June 18, 2018. Since listing, its stock has given a massive return of around 3200% to its investors. Will Adani Green Energy continue to provide such great returns in the future as well? Let’s explore Adani Green’s future growth potential and the Adani Green share price target 2025 to 2050 in this article
About Adani Green Ltd.
Adani Green Energy Limited (AGEL) is a renewable energy company in India that was established in 2015. It is part of the Adani Group and focuses on producing power from solar and wind energy. The company develops, builds, owns, and operates large-scale renewable energy projects across the country. Over the years, Adani Green has become one of the largest renewable energy companies in India, with a growing portfolio of solar and wind power plants.
Adani Green Business Model
- Power Generation: Adani Green develops and operates solar and wind power plants. It sells the electricity it produces to government agencies, private businesses, and power distribution companies.
- Long-Term Power Purchase Agreements (PPAs): Adani Green signs long-term contracts with customers, usually for 25 years. These agreements guarantee a steady income as the buyers pay a fixed price for the electricity.
- Builds and Sells Projects: Adani Green also develops renewable energy projects and sometimes sells them to other investors or companies.
Adani Green Fundamental Analysis
| Stock Name | Adani Green Energy Ltd. |
|---|---|
| NSE Symbol | ADANIGREEN |
| Market Cap | ₹ 1,47,283 Crores |
| 52W High | ₹ 2,174 |
| 52W Low | ₹ 758 |
| Stock P/E | 89.2 |
| Book Value | ₹ 76.6 |
| Dividend Yield | 0.00 % |
| ROCE | 8.21 % |
| ROE | 15.0 % |
| Face Value | ₹10.0 |
| Industry PE | 31.5 |
| Price to book value | 12.1 |
| Debt to equity | 6.59 |
| PEG Ratio | 0.70 |
| Quick ratio | 0.50 |
| Shareholders | March 2023 | March 2024 | March 2025 |
|---|---|---|---|
| Promoters | 57.26% | 56.37% | 60.93% |
| FIIs | 17.13% | 18.15% | 12.45% |
| DIIs | 1.45% | 1.55% | 2.40% |
| Public | 24.16% | 23.93% | 24.22% |
| No. of Shareholders | 7,46,294 | 6,68,586 | 9,95,700 |
Key Factors Driving Adani Green’s Future Growth
- Government Support & Rising Clean Energy Demand: Adani Green benefits from India’s renewable energy policies and the growing global demand for clean energy.
- Massive Renewable Energy Projects & Rapid Expansion: Adani Green is aggressively increasing its solar and wind power capacity, aiming to become the world’s largest renewable energy company.
- Technological Advancements & Sustainability Focus: Adani Green invests in new solar and wind technology to improve efficiency while aligning with global climate goals, attracting environmentally conscious investors.
- Adani Group’s Strength & Global Expansion Plans: Adani Green benefits from the financial and infrastructure strength of Adani Group while exploring international opportunities for growth.
- Strategic Project Development: The company is working to build the world’s largest renewable energy plant in Khavda, Gujarat, as well as large-scale projects in Rajasthan, to have the entire capacity operational by 2029.
Pros of Investing in Adani Green
- Significant Capacity Expansion: As of December 2024, Adani Green’s operational capacity grew by 37% year-on-year, totaling 11,609 MW with new additions of 3,131 MW.
- Improved Profit Margins: Adani Green’s operating profit margin has increased to 79% in March 2024 from 64% in March 2023.
- Strong Sales Growth: Adani Green Energy’s sales have grown at a CAGR of 34% over the last five years.
- Strong Profit Growth: Adani Green Energy’s profits have grown at a CAGR of 127% over the last five years.
- Increase in DIIs Holding: Domestic Institutional Investors (DIIs) have increased their holding to 2.40% in March 2025 from 1.73% in December 2024, which indicates growing confidence in the Adani Green future potential by the DIIs.
Cons of Investing in Adani Green
- Legal and Regulatory Challenges: In November 2024, US authorities charged Gautam Adani and his associates with securities fraud and conspiracy, alleging a scheme to bribe Indian officials for solar energy contracts. These legal issues could affect the company’s reputation and operations.
- Withdrawal from International Projects: Adani Green Energy recently withdrew from a $440 million wind power project in Sri Lanka after the new government renegotiated tariffs. Such withdrawals may have an impact on the company’s growth prospects as well as its international relations.
- Investor Confidence Concerns: Following the legal allegations, TotalEnergies suspended new investments in its joint ventures with the Adani Group, indicating a potential loss of investor confidence. This suspension could have an impact on future funding and partnerships.
- Low Return on Equity (ROCE): Adani Green 5-year average ROCE is 8.71 %, which shows that it is not using shareholders’ funds efficiently to generate profits.
- Overvaluation Concern: Adani Green stock is trading at a PE ratio of 89.2 and a (P/B) ratio of 12.1, which shows that its stock is significantly overvalued compared to its earnings and assets.
- High Financial Risk: Adani Green has a high debt-to-equity ratio of 6.59, indicating a strong dependency on debt. This increases financial risk, raises interest costs, and may have an impact on profitability.
- Low Interest Coverage Ratio: The interest coverage ratio of Adani Green is 1.38, which shows that the company is struggling to pay interest.
- Decrease in FIIs Holding: Foreign Institutional Investors (FIIs) have reduced their holding to 12.45% in March 2025 from 13.68% in December 2024, indicating a decline in FII’s confidence in the company’s future growth prospects.
Adani Green Ltd Balance Sheet
| Particulars | March 2023 | March 2024 | March 2025 |
|---|---|---|---|
| Equity Capital | 1,584 | 1,584 | 1,584 |
| Reserves | 5,720 | 8,250 | 10,553 |
| Borrowings | 54,223 | 64,858 | 80,040 |
| Other Liabilities | 5,382 | 13,394 | 19,221 |
| Total Liabilities | 66,909 | 88,086 | 111,398 |
| Fixed Assets | 48,336 | 62,284 | 79,915 |
| CWIP | 5,291 | 6,427 | 14,479 |
| Investments | 1,149 | 1,515 | 2,743 |
| Other Assets | 12,133 | 17,860 | 14,261 |
| Total Assets | 66,909 | 88,086 | 111,398 |
By the end of 2025, the Adani Green share price is expected to be around ₹1200 in normal conditions. In a bear market, it might be ₹1150, and in a bull market, it may go up to ₹1450.
| Adani Green Share Price Target 2025 | Rupees (₹) |
|---|---|
| 1st Target | 1150 |
| 2nd Target | 1200 |
| 3rd Target | 1450 |
In 2026, the Adani Green share price is expected to be around ₹1600 in a normal situation. In a bear market, it might be ₹1400, and in a bull market, it may cross ₹1900.
| Adani Green Share Price Target 2026 | Rupees (₹) |
|---|---|
| 1st Target | 1400 |
| 2nd Target | 1600 |
| 3rd Target | 1900 |
According to our analysis, the Adani Green share price is expected to be around ₹1900 in 2027. In a bear market, it might be ₹1700, and in a bull market, it may cross ₹2500.
| Adani Green Share Price Target 2027 | Rupees (₹) |
|---|---|
| 1st Target | 1700 |
| 2nd Target | 1900 |
| 3rd Target | 2500 |
According to our analysis, the Adani Green share price may trade near ₹2400 by 2028; bearish conditions could pull it down to ₹2000, while a strong bull run might lift it to ₹3200.
| Adani Green Share Price Target 2028 | Rupees (₹) |
|---|---|
| 1st Target | 2000 |
| 2nd Target | 2400 |
| 3rd Target | 3200 |
In a normal situation, the Adani Green share price is projected to be approximately ₹2900 in 2029. In a bear market, the value may be as low as ₹2400, while in a bull market, it may rise to ₹4150.
| Adani Green Share Price Target 2029 | Rupees (₹) |
|---|---|
| 1st Target | 2400 |
| 2nd Target | 2900 |
| 3rd Target | 4150 |
In a normal situation, the Adani Green share price is projected to be approximately ₹3700 in 2030. In a bear market, the value may be as low as ₹2900, while in a bull market, it may rise to ₹5350.
| Adani Green Share Price Target 2030 | Rupees (₹) |
|---|---|
| 1st Target | 2900 |
| 2nd Target | 3700 |
| 3rd Target | 5350 |
By 2035, the Adani Green share price is projected to be around ₹8,000 under normal conditions. In adverse markets, the price could fall to ₹5800, while favorable conditions might push it up to ₹16,000.
| Adani Green Share Price Target 2035 | Rupees (₹) |
|---|---|
| 1st Target | 5800 |
| 2nd Target | 8,000 |
| 3rd Target | 16,000 |
Under normal conditions, the Adani Green share price might hit ₹20,000 by 2040. A bearish trend could lower it to ₹12,000, whereas a bullish surge could raise it to ₹48,000.
| Adani Green Share Price Target 2040 | Rupees (₹) |
|---|---|
| 1st Target | 12,000 |
| 2nd Target | 20,000 |
| 3rd Target | 48,000 |
In 2050, the Adani Green share price is expected to be around ₹70,000 in a normal situation. In a bear market, it might be ₹46,500, and in a bull market, it may go up to ₹2,89,000.
| Adani Green Share Price Target 2050 | Rupees (₹) |
|---|---|
| 1st Target | 46,500 |
| 2nd Target | 70,000 |
| 3rd Target | 2,89,000 |
| Years | Target Price |
|---|---|
| Adani Green Share Price Target 2025 | ₹1150 to ₹1450 |
| Adani Green Share Price Target 2026 | ₹1400 to ₹1900 |
| Adani Green Share Price Target 2027 | ₹1700 to ₹2500 |
| Adani Green Share Price Target 2028 | ₹2000 to ₹3200 |
| Adani Green Share Price Target 2029 | ₹2400 to ₹4150 |
| Adani Green Share Price Target 2030 | ₹2900 to ₹5350 |
| Adani Green Share Price Target 2035 | ₹5800 to ₹16,000 |
| Adani Green Share Price Target 2040 | ₹12,000 to ₹48,000 |
| Adani Green Share Price Target 2050 | ₹46,500 to ₹2,89,000 |
Conclusion
Adani Green Energy is rapidly expanding, supported by government policies and rising demand for clean energy. It also benefits from Adani Group’s financial strength. However, there are risks such as excessive debt, legal issues, and an overvalued stock price. These factors could have an impact on the company’s future growth. While Adani Green has strong potential, investors should be careful and consider both the opportunities and risks before investing. For the latest updates, you can visit the Adani Green Energy official website.
FAQ’s
The Adani Green Energy share price target for 2025 is expected to range between ₹1,300 to ₹1,600, based on market trends and growth projections.
The Adani Green Energy share price target for 2030 is expected to be between ₹3,200 to ₹6,000.
The Adani Green Energy share price target for 2040 is expected to be between ₹15,000 to ₹45,000, based on growth projections, renewable energy demand, and business expansion.
Disclaimer
This article is for educational purposes only. It is not a stock recommendation and should not be treated as such. Please ask your financial advisor before making any investment decision.
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