Desk note · industry · Renewable power / grid
Adani Green Energy reported on 21 October 2026 that revenue from power supply rose 45% year on year to about ₹4,019 crore in the September quarter while EBITDA from supply grew 51% to about ₹3,835 crore, but management said transmission bottlenecks led to curtailment that weighed on margins even as operational renewable capacity reached 20.8 GW.
On 21 October 2026, Adani Green Energy Ltd released results for the quarter ended September 2026. Revenue from power supply increased about 45% year on year to roughly ₹4,019 crore, while EBITDA from power supply rose about 51% to roughly ₹3,835 crore. Energy sales grew about 33% to roughly 12,090 million units. The company's operational renewable portfolio reached 20.8 GW, 24% higher than a year earlier, after adding hundreds of megawatts of solar, wind, and hybrid capacity, much of it at the Khavda cluster in Gujarat. Battery storage capacity also expanded, with the company citing more than 6.6 GWh operational. Press coverage the same day noted that India's transmission network could not absorb all the new generation, leading Adani Green to curtail output during the period and dent margins even as headline growth looked strong.
Renewable developers earn when electrons reach paying customers. Building gigawatts in desert clusters is only half the story; without timely transmission lines and state-level scheduling discipline, plants must back down and forego revenue. Curtailment shows up as softer profit growth than sales growth, exactly what Adani Green reported when profit attributable to shareholders rose more slowly than revenue in some summaries. The issue is sector-wide: solar and wind targets race ahead of interstate corridors and grid flexibility. Storage additions help locally but do not replace long-distance evacuation.
Households and factories still benefit when more green power connects, but curtailment risk can delay tariff relief if developers pause new bids. If you invest in renewable or utility stocks, read management comments on transmission availability alongside capacity milestones. Policy watchers should track Power Grid commissioning timelines and state DISCOM payment behaviour. Watch whether Adani Green's FY27 storage guidance above 10 GWh eases local curtailment, and whether the government fast-tracks lines out of western generation hubs.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.