Adani Green Energy is closely managing manpower and employee costs to improve operational efficiency and profitability, the company’s leadership said during its Q2 FY27 earnings call on October 22, 2026.
“From an operational perspective also, we have taken a lot of pains in terms of all manpower or other costs that we are taking in terms of ensuring that we do not [let costs rise]. Whatever impact that can happen, we are reducing that impact by our O&M and employee costs and other things being more rationalised in that manner,” said Saurabh Shah, Chief Financial Officer, Adani Green Energy.
The company’s operational capacity reached 20.8 GW in the first half of FY27, with power supply revenue growing 36% year on year to ₹8,299 crore. Shah attributed the quarter’s roughly 51% year-on-year EBITDA growth, against about 33% generation growth, to new battery storage revenue, better wind resources, higher merchant power realisations of ₹2.4 per unit compared with ₹2.1 a year earlier, and operational efficiencies that kept operations and maintenance and employee costs contained.
Adani Green estimated that transmission delays at the Khavda renewable energy park in Gujarat reduced its potential H1 FY27 EBITDA by about ₹724 crore, and shares declined 4% following the results announcement. Shah said the company’s leverage, currently around 5.6 times, is expected to stay in the current range until FY2829 before trending toward 4.55 times and eventually below 4 times as operating assets grow and project loans amortise.
The cost discipline comes as Adani Green continues to scale rapidly, having added 5,051 MW of renewable capacity in FY 2025-26 at its Khavda project, the fastest and largest such capacity addition in India to date.
