Key ratios of Adani group in dangerous territory

To marry the narrative to the numbers, the group has to keep scaling up since that allows it to raise more money

Last week saw a shift in market capitalisation within the Adani Group. Adani Green Energy (AGEL) overtook Adani Ports (APSEZ) to become the most valuable company. In the past month, AGEL’s share price is up 75 per cent while the Nifty is up 15 per cent.

AGEL aims to be the biggest renewable energy company by 2025. It has 15 GigaWatt (15 GW) of renewable capacity in various stages of operation, construction and contracting. About 11,500 MW (11.5 GW) is under construction. By 2025, AGEL targets ramping up capacity to 25 GW. It’s looking to raise US $5-6 billion in