Adani Green Energy Limited (ADANIGREEN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Adani Green Energy Limited ₹170, price ₹1,301, upside -87.0%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Weakest SetupStrongly overvalued and low quality.
!Fair value ₹169.61 · Strongly overvalued (−87%)
!Quality 31/100
!Expensive Growth(revenue 5y +32.8 %/yr)
✓Solidly profitable · 12.7% net margin (TTM)
!High debt · negative free cash flow
!Trails peers(5/13)
!Moderate moat52/100
!Evidence only low, so the estimate is less certain
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹462.20 – ₹2,971 · fair‑value band ₹127.87 – ₹213.12 · the ₹1,301 price screens above the ₹169.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Adani Green Energy Limited generates and supplies renewable energy to central and state government entities and government backed corporations in India. The company develops, builds, owns, operates, and maintains power plants through renewable sources, such as solar, wind, and hybrid.
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Adani Green Energy Limited generates and supplies renewable energy to central and state government entities and government backed corporations in India. The company develops, builds, owns, operates, and maintains power plants through renewable sources, such as solar, wind, and hybrid. It operates solar power plants with an operational capacity of 10,103 megawatts (MW); wind power plants with an operational capacity of 2,140 MW; and hybrid power plants with an operational capacity of 2,140 MW. Adani Green Energy Limited was incorporated in 2015 and is headquartered in Ahmedabad, India.
Stock analysis
Adani Green Energy Limited (ADANIGREEN) currently trades at ₹1,301, while our model-based Fair Value estimate is ₹169.61, implying the stock looks roughly 666.9% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹438.68 per share, and 0 of the 13 models we run sit above the ₹1,301 price.
Bear case: the Dividend Discount group reads lowest at ₹18.37, and 13 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹127.87 (bear) to ₹213.12 (bull), the price of ₹1,301 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 31/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Adani Green Energy Limited reported revenue of ₹129B in FY2026 versus ₹51.4B in FY2022, a compound +25.9%/yr. Reported net income was ₹16.5B in FY2026, compounding +35.6%/yr from FY2022.
Key figures
Market cap ₹2.5T (≈ $26.3B) · P/E ratio 134.4 · P/S ratio 17.2 · EPS (TTM) ₹9.68 · Dividend yield 0.1% · Net margin 12.8% · Return on equity 7.6% · Return on assets (EBIT) 7.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 68% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −34% fair-value upside, at −87%, ADANIGREEN screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹18.37 to ₹475.61). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹127.87Fair Value ₹169.61Bull ₹213.12
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹4.69 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+13.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+32.8%
Start year 2021 (pandemic). Over 10 years: +459.7% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+459.7%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Renewable · 210 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside−87% · Bottom 25%
Profitability
Return on equity (TTM)8% · Above median
Return on assets4% · Top 25%
Net margin (TTM)13% · Above median
Operating margin (TTM)60% · Top 25%
Growth and dividend
Revenue growth14% · Above median
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity4.40× · Highest 25%
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/E (TTM)134.4× · Priciest 25%
P/B12.68× · Priciest 25%
P/S (TTM)19.48× · Priciest 25%
EV/EBITDA31.4× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 13
FUTURE (revenue growth)72· sector 0
PAST (return on equity)30· sector 14
HEALTH (low debt)0· sector 68
DIVIDEND (yield)1· sector 47
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Adani Green Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/ADANIGREEN
Frequently asked questions
Is Adani Green Energy Limited (ADANIGREEN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹169.61 versus a price of ₹1,301, about −87% upside (overvalued).
What is the fair value of ADANIGREEN?
Our model-based fair value for Adani Green Energy Limited is ₹169.61 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹1,301.
What is the quality score of ADANIGREEN?
Adani Green Energy Limited has a Quality Score of 31/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Adani Green Energy Limited (ADANIGREEN)?
Our model-based price target is the fair value of ₹169.61 (as of Sep 24, 2026) from 13 valuation models. Cautious scenario ₹127.87, optimistic scenario ₹213.12. It is a calculation from audited fundamentals, not an analyst target.
What is the Adani Green Energy Limited stock forecast for 2026?
Our models put fair value at ₹169.61, about −87% upside versus a price of ₹1,301 (overvalued). Cautious scenario ₹127.87, optimistic scenario ₹213.12. The calculation is refreshed regularly with new filings.
What is the revenue of Adani Green Energy Limited (ADANIGREEN)?
Adani Green Energy Limited reported trailing-twelve-month revenue of about ₹130B (latest available figure, as of Sep 24, 2026).
Does Adani Green Energy Limited pay a dividend?
Adani Green Energy Limited currently shows a dividend yield of about 0.07% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Adani Green Energy Limited (ADANIGREEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Adani Green Energy Limited it is ₹169.61 per share (as of Sep 24, 2026), against a price of ₹1,301. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Adani Green Energy Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ADANIGREEN trades above its calculated fair value: price ₹1,301, fair value ₹169.61, a gap of about −87% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ADANIGREEN?
No. The price is what the market pays today (₹1,301); the fair value is what the company's own numbers justify (₹169.61). For Adani Green Energy Limited the two are ₹1,131 per share apart. That gap is exactly why we show both numbers side by side.
How much is Adani Green Energy Limited worth?
The market values Adani Green Energy Limited at about ₹2.5T (market capitalisation, as of Sep 24, 2026). Per share that is ₹1,301; our models calculate a fair value of ₹169.61 per share.
What do the bullish and bearish scenarios say about ADANIGREEN?
Our models span a range for Adani Green Energy Limited: cautious scenario ₹127.87, base ₹169.61, optimistic ₹213.12 per share (as of Sep 24, 2026, price ₹1,301). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ADANIGREEN?
Adani Green Energy Limited trades at a price-to-earnings ratio of 134.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹169.61 is built from several models across several years. Other multiples: P/B 12.7, P/S 19.5, EV/EBITDA 31.4.
How solid is the balance sheet of Adani Green Energy Limited (ADANIGREEN)?
Balance-sheet figures for Adani Green Energy Limited (as of Sep 24, 2026): return on equity 7.6%, debt of 4.40 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is ADANIGREEN from its 52-week high?
Adani Green Energy Limited trades at ₹1,301, about 19% below its 52-week high of ₹1,605 and 68% above the low of ₹772.80 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ₹169.61 is for.
Which stocks are comparable to Adani Green Energy Limited?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, VERBUND AG, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Adani Green Energy Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹1,301, calculated fair value ₹169.61 (−87%), Quality Score 31/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ADANIGREEN calculated?
We run Adani Green Energy Limited through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹169.61, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Adani Green Energy Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Adani Green Energy Limited (ADANIGREEN)?
The closing price on Sep 23, 2026 was ₹1,301. Our model-based fair value is ₹169.61, about −87% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Adani Green Energy Limited right now?
The price sits above even our optimistic bull case (₹213.12). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Adani Green Energy Limited
How large is the market capitalisation of Adani Green Energy Limited (ADANIGREEN)?
The market capitalisation of Adani Green Energy Limited is ₹2.5T (≈ $26.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Adani Green Energy Limited (ADANIGREEN)?
The price-to-sales ratio of Adani Green Energy Limited is 17.2 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Adani Green Energy Limited (ADANIGREEN)?
Earnings per share at Adani Green Energy Limited are ₹9.68 (price ÷ EPS = P/E 134.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Adani Green Energy Limited (ADANIGREEN)?
The dividend yield of Adani Green Energy Limited is 0.1% (payout 10.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Adani Green Energy Limited (ADANIGREEN)?
The net margin of Adani Green Energy Limited is 12.8% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Adani Green Energy Limited (ADANIGREEN)?
The return on equity (ROE) of Adani Green Energy Limited is 7.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Adani Green Energy Limited (ADANIGREEN)?
On an EBIT basis the return on assets of Adani Green Energy Limited is 7.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Adani Green Energy Limited (ADANIGREEN)?
The operating margin of Adani Green Energy Limited is 59.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Adani Green Energy Limited (ADANIGREEN)?
Revenue at Adani Green Energy Limited is growing +14.3% versus a year earlier (3y avg +18.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Adani Green Energy Limited (ADANIGREEN)?
Earnings per share at Adani Green Energy Limited are growing +210% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Adani Green Energy Limited (ADANIGREEN) generate?
The free cash flow of Adani Green Energy Limited is −₹160B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Adani Green Energy Limited (ADANIGREEN) carry?
The net debt of Adani Green Energy Limited is ₹997B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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