Adani Green Energy puts Rs 10,000-crore capex plan under review

Company to reduce capex in near term; execs say large part of it can be discretionary

Shreya JaiAbhijit Lele New Delhi/Mumbai
Adani group, adani enterprises

India’s largest green energy company, Adani Green Energy (AGEL), has decided to review its capital expenditure (capex) plan of Rs 10,000 crore for financial year 2023-24 (FY24). In a post-third quarter results call with its bond holders, AGEL’s management said this was a tentative target and was still under review.
This marks a change in AGEL’s stated plans on its capex. Last week, addressing the earnings call, the AGEL management had said it has planned a capex of “broadly” Rs 10,000 crore for FY24 and a similar amount for FY25.
“Short-term capex (12-18 months) is being reviewed. In the near term, there will be a slow down in our target. We will revisit our discretionary capex and reduce our capex in the near term,” the management said in the call with fixed-income investors on February 16. Business Standard has reviewed the audio of the meeting.

Also Read

Hindenburg vs Adani: Short selling not shareholder activism, says InGovern

Adani-Hindenburg row: Supreme Court for expert panel on investors' safety

Hindenburg Research: All you need to know about US-based investment firm

Adani Group stocks decline amid reports of ESG funds dumping stake

NSE removes Adani Ports, Ambuja Cements from surveillance framework

Ambuja Cements, ACC to restart operations at 2 plants in Himachal Pradesh

Tata Motors to induct 25,000 EVs into Uber's premium service in India

Adani down to 25th richest on Forbes, Bloomberg lists; net worth at $48 bn

WhatsApp new update soon let users share high quality photos on iOS beta

Gizmore launches new smartwatch 'Cloud' with 1.85-inch display at Rs 1,199

First Published: Feb 20 2023 | 8:00 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to