Adani Green plunges 8% despite posting strong Q1 business update

Shares of Adani Green plunged 8 per cent in Thursday’s trade even as the firm posted a strong business update for the quarter ended June 2022.

The company in a BSE filing said its total operational capacity rose by 65 per cent year-on-year (YoY) to 5,800 MW. It also commissioned India’s first solar-wind hybrid project in Jaisalmer, Rajasthan of 390 MW, the company said.

The solar energy giant added that sales of energy saw a rise to 3,550 million units in the quarter ended June 2022 as compared to 2,054 million units in Q1 FY22, a 73 per cent YoY increase.


Following the update, Adani Green hit a low of Rs 1,931 but recouped most losses to trade flat at Rs 2,070.70 in the afternoon session.

Solar portfolio Capacity Utilization Factor (CUF) improved by 26.5 per cent and wind portfolio CUF improved by 47 per cent. Similarly, Hybrid CUF stood at 43.4 per cent.

Promoters held a 61.27 per cent stake in the firm and FIIs 16.53 per cent as of March 31 2022.