AGAdani Green Energy541450Quarterly results

Board approves September quarter and half-year results; auditors issue limited review reports

The Board, at its meeting on October 21, 2026, approved the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.

By ScoutQuest · Wed 21 Oct 2026, 2:22 PM IST · 4 min read

Total income

Latest 4,520; Year ago 3,249 (+39.1%); Prev qtr 4,663 (−3.1%)

Profit after tax

Latest 747; Year ago 644 (+16%); Prev qtr 983 (−24%)

Period

3 Months ended 30.09.2026

What the board approved

• The Board met on October 21, 2026, from 12:30 p.m. to 02:00 p.m., and approved and took on record the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
• The Audit Committee reviewed and recommended the results before the Board took them on record.
• A press release on the results is enclosed with the update, and the results are also placed on the company's website.

Auditors' conclusion

• The joint statutory auditors, S R B C & Co. LLP and Shah Dhandharia & Co. LLP, issued Limited Review Reports on both the standalone and consolidated results.
• The reports state that a review is substantially less in scope than an audit and that the auditors do not express an audit opinion.
• Based on the review, nothing came to their attention that causes them to believe the statements are not prepared in accordance with Ind AS 34 and the listing regulations, or that they contain any material misstatement.

Standalone results (Rs in Crores)

• Total income: 8,181 in the quarter, against 4,198 in the same quarter a year earlier; 14,653 for the half year, against 9,220.
• Profit after tax: 33 in the quarter, against 475 in the same quarter a year earlier; for the half year the figure was (18), a loss, against 509.
• Exceptional items were nil in the quarter and half year under review, so the profit figures above carry no exceptional charge for the current period.

What sits behind the numbers

• Income mix: in the standalone results the bulk of income came from sale of goods and equipment and related services, with power supply and other operating revenue making up the rest, and other income adding to total income.
• Impairment in the base year: an impairment provision of ₹ 202 Crores was made during the previous year ended 31st March 2026 on the carrying value of investments (including unsecured perpetual debt) and loans in subsidiaries, and was shown as an exceptional item. This affects how the prior-year profit compares with the current period.
• Perpetual debt: during the half year the company invested ₹ 2,574 Crores in Unsecured Perpetual Debt of subsidiaries. These instruments have no maturity or redemption, are callable only at the issuer's option, and distributions are cumulative and at the issuer's discretion, which is why they are treated as equity in nature.
• Cost efficiency: the company states that it has outsourced resources during the current period to enhance operational efficiency, leading to a reduction in manpower and other operating cost.

Proceedings involving directors

• An indictment shared by the United States Department of Justice against two executive directors and one non-executive director, and a civil complaint shared by the US Securities and Exchange Commission against one executive director and one non-executive director, were disclosed earlier. The company was not named as a defendant.
• The US SEC civil complaint was disposed of by final judgment entered by the US District Court for the Eastern District of New York on 10th August 2026; the directors are permanently restrained and enjoined from violating specified sections of the Securities Act of 1933 and the Securities Act of 1934, and civil monetary penalties were paid.
• The US DOJ indictment was dismissed with prejudice by an order dated 10th August 2026, which the update describes as a complete dismissal protecting the defendants against future prosecution for the same allegations.
• An independent law firm review completed in financial year 2024-25 did not identify any non-compliance or irregularity, and no adjustments are required in the results.

Balance sheet shape (standalone)

• Property, plant and equipment, capital work in progress and investments form the main non-current assets, while borrowings appear under both non-current and current liabilities and trade payables sit in current liabilities.

Consolidated view

• The consolidated results were also approved and reviewed; the consolidated review report covers the holding company together with its subsidiaries, associates and joint venture.

What retail investors can track

• The gap between Total income and Profit after tax across periods: total income was higher than the same quarter last year, while profit after tax was lower.
• The company reports a single business segment, so the results are best read as one business rather than as separate divisions.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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