Adani stocks: Adani Green Energy, Adani Transmission shares in focus ahead of Q1 results

Adani Green Energy Ltd and Adani Transmission Ltd are two Adani group companies, which will announce their June quarter results on Monday. While quarterly previews for the two companies are unavailable, the two companies recently came out with business updates for the June quarter.

Adani Transmission said it added 550 ckm to the operational transmission network length in the June quarter, with the total network standing at 19,778 ckm against 18,795 ckm in the year-ago quarter. The Adani group firm said it saw continuous expansion in power transformation capacity on account of new project additions. The capacity stood at 46,001 MVA in the June quarter compared with 40,001 MVA in the same quarter last year, it said.

The Adani group firm said it maintained system availability well above 99.7 per cent level. This was against 99.18 per cent YoY. On the distribution side, consumer base increase to 31.30 lakh from 30.8 lakh in the year-ago quarter. Collection efficiency was slightly lower at 97.29 per cent on account of seasonality. Residential customers accounted for 49 per cent of revenues, commercial 40 per cent and industrial 11 per cent.

In the case of Adani Green Energy, the Adani group firm told exchanges that its sale of energy increased 70 per cent YoY at 6,023 million units in the June quarter compared with 3,550 million units in the corresponding quarter last year. The operational capacity jumped 43 per cent to 8,316 MW YoY, with the addition of 1,750 MW solar–wind Hybrid, 212 MW solar and 554 MW wind power plants, the Gautam Adani-led company said.

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Adani Green Energy said its solar portfolio capacity utilisation factor (CUF) at stood at 26.9 per cent for the quarter with 40 basis points (bps) improvement YoY, backed by 99.7 per cent plant availability. Adani Green Energy said its wind portfolio CUF stood at 38.7 per cent with 830 basis points reduction YoY. The reduction was primarily due to relatively lower wind speed, which was higher last year, Adani Green Energy said.

Hybrid portfolio CUF stood at 47.2 per cent, backed by 99.1 per cent plant availability. The company realised 0.4 million carbon credits in the quarter.

Adani Green Energy operationalised 1,750 MW solar–wind Hybrid power plants in Rajasthan; it commissioned 212 MW solar power plant in Rajasthan and 554 MW wind power plant in Gujarat.

Sale of solar energy was up 6 per cent on the back of 212 MW capacity addition in Rajasthan and 40 bps improvement in CUF. Sale of Hybrid energy zoomed 1,546 per cent due to 1,750 MW capacity addition in Rajasthan and 380 bps improvement in CUF.

Sale of wind energy jumped 34 per cent on increased capacity to 1,201 MW from 647 MW YoY. The reduction in wind CUF was primarily due to relatively lower wind speed, which was higher last year. Wind Turbine Generators were shutdown during Biparjoy cyclone in the state of Gujarat as a safety measure.

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