Apollo Green Energy (AGEL): FY24 Financial Performance and expected IPO timeline
Written by: Diksha Kalra
Published: Sep 16, 2026
Updated: Sep 16, 2026
2 min read
- Strong Revenue Growth: AGEL’s revenue grew from ₹289 crore in FY21 to ₹1,171 crore in FY24, achieving a remarkable 3-year CAGR of 59%, highlighting its strong expansion in the renewable energy sector
- Stable Profit Margins: While the top line grew by 70% YoY in FY24, the company’s net profit remained stable at ₹29.6 crore, showing resilience despite a slight decline (-1.7% YoY) in profit margins
Healthy Capital Structure: AGEL maintains a robust financial health with a projected gearing ratio of 0.90x as of March 2024, providing flexibility for further debt without overleveraging.
Expanding Asset Base: The company’s standalone assets grew by 29% YoY in FY24, reflecting its increasing operational capacity and commitment to future growth.
Future Revenue Visibility: With an order book of ₹1,800 crore as of March 2024, AGEL has secured revenue visibility for the next 2.5 to 3 years, ensuring continued growth.
Growth Projections: By FY27, AGEL targets revenue of ₹2,050 crore and a projected bottom line of ₹162 crore, indicating significant growth potential.
IPO Plans: The company is preparing for an IPO by FY26, offering an attractive investment opportunity with anticipated share price growth.
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