Adani Energy Solutions Limited ADANIENSOL NSEINFRA

Utilities · Utilities - Independent Power Producers · India

https://www.adanienergysolutions.com

Adani Energy Solutions Limited, together with its subsidiaries, generates, transmits, and distributes power in India. It operates through the Transmission; Distribution; Smart Meter; Trading; and Others segments. The company is involved in the establishment, commission, setting up, operation, and maintenance of electric power transmission systems; development, ownership, and operation of transmission lines; trade of bullion and other commodities; and laying of optical ground wire fibers on transmission lines to telecom solutions to telecom companies, internet service providers, and long-distance communication operators. It also provides electricity meters to optimize real-time insights of electricity usage. The company was formerly known as Adani Transmission Limited and changed its name to Adani Energy Solutions Limited in July 2023. The company was incorporated in 2013 and is headquartered in Ahmedabad, India. Adani Energy Solutions Limited operates as a subsidiary of S.B. Adani Family Trust.

Market & Price

Market Cap

₹1.82 L Cr

Current Price

₹1,513.30

High / Low (52W)

₹1,540.10 / ₹755.95

Beta

0.87

Valuation

Stock P/E

81.32

Industry PE

25.70

Forward P/E

44.59

PEG Ratio

Book Value

₹211.59

Price to Book

7.15

P/S

6.59

EV/EBITDA

25.14

Dividend Yield

Profitability & Returns

ROCE

8.72%

ROE

9.66%

ROA

5.33%

Profit Margin

8.27%

Op Margin

22.00%

EPS (Latest Qtr)

₹5.69

EPS (TTM)

₹18.61

Balance Sheet & Liquidity

Debt/Equity

1.95

Quick Ratio

0.77

Current Ratio

1.15

Debt

₹51,592.35 Cr

Total Assets

₹92,834.92 Cr

Current Assets

₹17,825.76 Cr

Working Capital

₹2,379.48 Cr

Ownership

Promoter Holding

74.03%

Chg in Prom Hold

0.00%

FII / Inst Holding

20.50%

Chg in FII Hold

-0.32%

Financial Snapshot

Enterprise Value

₹2.28 L Cr

Total Revenue (TTM)

₹27,588.03 Cr

EBITDA

₹9,084.40 Cr

Free Cash Flow

₹-10,951.62 Cr

Operating Cash Flow

₹10,996.68 Cr

Shares Outstanding

₹120.13 Cr

Gross Margin

47.49%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

28.29%

Profit 5Y

22.02%

Revenue (YoY)

16.80%

Earnings (YoY)

3.50%

PROS

Compounding revenue at 28.3% over 5 years.
Profit CAGR of 22.0% over 5 years.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 81.3.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Utilities).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ADANIENSOL Adani Energy Solutions Limited NSEINFRA	1,513.30	81.32	₹1.82 L Cr	-	8.72%	9.66%	28.29%	22.02%
2	ADANIPOWER Adani Power Limited NSEINFRA	243.37	36.76	₹4.69 L Cr	-	15.47%	20.91%	12.57%	6.16%
3	NTPC NTPC Limited NIFTY50NSEINFRAPSU	386.90	12.71	₹3.75 L Cr	2.93%	9.27%	13.69%	2.49%	16.95%
4	POWERGRID Power Grid Corporation of India Limited NIFTY50NSEAIINFRAPSU	290.55	14.45	₹2.70 L Cr	4.22%	10.70%	16.49%	2.02%	1.09%
5	ADANIGREEN Adani Green Energy Limited NSEINFRA	1,475.40	153.85	₹2.43 L Cr	-	6.51%	7.58%	18.47%	19.26%
6	ENRIN Siemens Energy India Limited NSEINFRA	3,872.10	105.28	₹1.38 L Cr	0.10%	29.23%	-	63.51%	83.35%
7	TATAPOWER Tata Power Company Limited NSEAIINFRA	420.75	35.96	₹1.34 L Cr	0.59%	8.76%	11.34%	4.88%	3.95%
8	JSWENERGY JSW Energy Limited NIFTY_MIDNSEINFRA	595.05	46.74	₹1.09 L Cr	0.34%	7.51%	8.82%	24.01%	14.86%
9	GAIL GAIL (India) Limited NSEINFRAPSU	164.51	14.27	₹1.08 L Cr	7.60%	9.12%	8.69%	-0.86%	10.53%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	5,830.26 Cr	6,374.58 Cr	6,819.28 Cr	6,729.65 Cr	7,443.27 Cr
Cost of Revenue	3,005.45 Cr	3,362.18 Cr	3,657.58 Cr	3,384.18 Cr	4,030.87 Cr
Gross Profit	2,824.81 Cr	3,012.40 Cr	3,161.70 Cr	3,345.47 Cr	3,412.40 Cr
Operating Expenses	1,161.88 Cr	1,223.25 Cr	1,311.94 Cr	1,505.92 Cr	1,775.20 Cr
Operating Income	1,662.93 Cr	1,789.15 Cr	1,849.76 Cr	1,839.55 Cr	1,637.20 Cr
EBITDA	1,830.87 Cr	2,261.77 Cr	2,016.90 Cr	2,210.19 Cr	2,372.14 Cr
Interest Expense	809.12 Cr	826.17 Cr	894.03 Cr	912.95 Cr	954.26 Cr
Pretax Income	559.37 Cr	973.95 Cr	658.05 Cr	801.05 Cr	910.07 Cr
Tax Provision	-66.07 Cr	287.41 Cr	117.12 Cr	226.17 Cr	240.98 Cr
Net Income	561.78 Cr	647.15 Cr	512.48 Cr	552.31 Cr	683.78 Cr
Diluted EPS	4.85	5.50	4.27	4.60	5.69

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	13,065.07 Cr	16,355.01 Cr	23,767.09 Cr	27,588.03 Cr
Cost of Revenue	-	6,520.89 Cr	8,156.54 Cr	12,313.12 Cr	14,487.37 Cr
Gross Profit	-	6,544.18 Cr	8,198.47 Cr	11,453.97 Cr	13,100.66 Cr
Operating Expenses	-	3,607.01 Cr	3,768.41 Cr	4,952.65 Cr	5,994.49 Cr
Operating Income	-	2,937.17 Cr	4,430.06 Cr	6,501.32 Cr	7,106.17 Cr
EBITDA	-	6,065.83 Cr	6,264.16 Cr	6,239.96 Cr	8,725.97 Cr
Interest Expense	-	2,739.75 Cr	2,700.90 Cr	3,259.16 Cr	3,632.90 Cr
Pretax Income	-	1,711.72 Cr	1,779.56 Cr	1,074.85 Cr	3,114.84 Cr
Tax Provision	-	435.33 Cr	580.13 Cr	178.99 Cr	771.71 Cr
Net Income	-	1,256.33 Cr	1,137.28 Cr	1,059.97 Cr	2,282.54 Cr
Diluted EPS	8.90	11.10	10.20	9.05	-

Compounded Sales Growth

5 Years:	28.29%
1 Year:	16.80%

Compounded Profit Growth

5 Years:	22.02%
1 Year:	3.50%

Stock Price Performance

1 Year:	+71.78%
6 Months:	+55.77%
3 Months:	+45.92%
1 Month:	+12.74%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	53,931.75 Cr	58,578.81 Cr	73,960.10 Cr	92,834.92 Cr
Current Assets	-	6,943.03 Cr	8,046.76 Cr	13,586.51 Cr	17,825.76 Cr
Cash & Equivalents	-	190.64 Cr	742.06 Cr	2,190.38 Cr	1,734.57 Cr
Inventory	-	151.91 Cr	255.28 Cr	625.24 Cr	669.45 Cr
Receivables	-	1,437.59 Cr	1,564.95 Cr	2,382.66 Cr	5,733.75 Cr
Total Liabilities	-	41,055.98 Cr	44,875.68 Cr	50,948.84 Cr	66,309.28 Cr
Current Liabilities	-	7,017.29 Cr	7,962.85 Cr	9,922.68 Cr	15,446.28 Cr
Long Term Debt	-	31,330.39 Cr	33,559.62 Cr	36,992.29 Cr	45,367.32 Cr
Total Debt	-	34,270.03 Cr	37,069.65 Cr	40,275.28 Cr	49,176.43 Cr
Total Equity	-	11,749.17 Cr	12,641.55 Cr	22,068.20 Cr	25,427.54 Cr
Shares Outstanding	-	111.55 Cr	111.55 Cr	120.13 Cr	120.13 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	3,776.99 Cr	6,037.62 Cr	9,044.51 Cr	10,996.68 Cr
Investing Cash Flow	-	-4,698.71 Cr	-4,943.03 Cr	-15,227.59 Cr	-14,082.88 Cr
Financing Cash Flow	-	923.22 Cr	-543.24 Cr	7,625.93 Cr	2,630.32 Cr
Capital Expenditure	-	-4,702.21 Cr	-5,429.54 Cr	-9,378.14 Cr	-14,431.80 Cr
Free Cash Flow	-	-925.22 Cr	608.08 Cr	-333.63 Cr	-3,435.12 Cr
Net Change in Cash	-	1.50 Cr	551.35 Cr	1,442.85 Cr	-455.88 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	50.1%	50.1%	48.2%	47.5%
Operating Margin %	-	22.5%	27.1%	27.4%	25.8%
Net Margin %	-	9.6%	7.0%	4.5%	8.3%
ROE %	-	10.7%	9.0%	4.8%	9.0%
ROCE %	-	6.3%	8.8%	10.2%	9.2%

Shareholding Pattern

Insiders

74.03%

Institutions

20.50%

Public Float

78.94%

Analyst View

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ADANIENSOL · Utilities