Adani Energy Solutions Ltd

ADANIENSOL

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Market Cap

₹ 1,19,383 Cr

P/E

52.95

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

HIGH RISK

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Overview

Detailed Summary

Adani Energy Solutions Limited (AESL) is a leading private transmission company in India involved in power generation, transmission, and distribution across 14 states.

AESL's strategic focus on expanding its portfolio is evident from its addition of 190 ckm in its transmission network in Q2FY26, contributing to a robust capacity of 26,705 ckm.

The company has secured a substantial order book valued at Rs 60,004 Cr, ensuring strong revenue visibility and growth potential.

AESL's ESG initiatives have been impactful, as indicated by improved ratings and its commitment to a Zero Waste to Landfill philosophy, enhancing its sustainability credentials.

The company continues to make strides in technology and operational advancements, demonstrated by its successful smart metering contracts and drone deployment for challenging terrain inspections.

Sector

Power Generation & Distribution

Industry

Power Generation And Supply

Market Cap

1,19,383 Cr

Volatility

High Risk

P/E Ratio

53.0

Industry P/E

23.4

PEG Ratio

3.3

P/B Ratio

5.1

52W High

1,050.00

52W Low

639.35

Sales CAGR

43.11%

37.85%

17.70%

10Y

24.26%

Profit CAGR

-22.91%

—

156.72%

10Y

—

ROE

TTM

9.64%

6.96%

8.33%

10Y

9.12%

ROCE

TTM

8.99%

8.28%

8.82%

10Y

9.56%

Technicals

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Forecasts

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ADANIGREEN	1028.30	1,69,379 Cr	75.33	8.68	0.00	11.51	7.33	1.53
TATAPOWER	379.95	1,21,407 Cr	30.06	3.22	0.59	10.75	9.31	3.05
ADANIENSOL	993.80	1,19,383 Cr	52.95	5.11	0.00	9.64	8.99	2.95
ENRIN	2979.30	1,06,099 Cr	96.45	24.22	0.13	25.11	31.50	11.53
JSWENERGY	478.85	83,692 Cr	41.35	2.87	0.42	6.95	6.52	1.96
NHPC	75.92	76,262 Cr	24.03	1.85	2.52	7.69	6.46	3.23
NTPCGREEN	90.28	76,073 Cr	125.39	4.06	0.00	3.24	3.70	1.25

Financial Statements

AI Powered Summary

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	3,664	3,674	4,563	4,707	5,379	6,184	5,830	6,375	6,819	6,596
Expenses	2,090	2,169	3,035	3,141	3,134	4,397	3,705	4,124	4,505	4,307
Operating Profit	1,574	1,505	1,527	1,566	2,244	1,787	2,125	2,251	2,315	2,289
OPM %	42.95	40.95	33.47	33.26	41.73	28.90	36.45	35.31	33.94	34.70
Other Income	108	93	262	148	-1,395	176	170	222	206	171
Interest	616	641	760	750	811	813	809	826	894	872
Depreciation	419	432	458	468	498	484	462	462	465	509
Profit Before Tax	343	370	515	552	-1,053	594	559	974	658	746
Tax %	46.96	23.19	32.33	30.92	-13.11	-30.15	-11.79	26.73	18.10	25.29
Net Profit	182	284	348	381	-1,191	773	625	714	539	557
EPS in Rs	1.46	3.13	2.99	3.01	-3.79	6.39	7.26	5.50	4.27	4.44

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,876	3,944	7,305	11,416	9,926	11,258	13,293	16,607	23,767	25,208
Expenses	893	1,118	4,543	6,929	5,976	7,051	8,775	10,436	15,360	16,730
Operating Profit	1,983	2,826	2,762	4,487	3,950	4,206	4,518	6,171	8,407	8,478
OPM %	68.96	71.64	37.81	39.30	39.80	37.36	33.99	37.16	35.37	33.63
Other Income	22	111	351	33	1,115	1,286	1,583	151	-2,167	774
Interest	904	886	1,391	2,238	2,117	2,365	2,781	2,767	3,259	3,342
Depreciation	569	579	882	1,174	1,329	1,427	1,608	1,776	1,906	1,873
Profit Before Tax	532	1,472	840	1,107	1,620	1,700	1,712	1,780	1,075	2,786
Tax %	21.71	22.34	33.45	36.16	20.39	27.33	25.19	32.81	14.25	4.82
Net Profit	416	1,143	559	706	1,290	1,236	1,281	1,196	922	2,651
EPS in Rs	3.47	9.10	2.11	5.41	6.78	8.14	7.74	10.59	15.36	21.47
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1,100	1,100	1,100	1,100	1,100	1,100	1,100	1,115	1,115	1,201
Reserves	1,572	1,847	4,957	6,943	7,399	7,819	8,813	10,634	11,526	20,867
Borrowings	7,939	8,660	9,605	17,937	23,525	27,095	29,902	34,270	37,070	40,275
Other Liabilities	1,135	1,204	1,604	6,681	7,687	7,219	7,650	7,913	8,868	11,617
Total Liabilities	11,746	12,811	17,265	32,661	39,711	43,234	47,464	53,932	58,579	73,960
Fixed Assets	10,060	9,853	9,291	24,412	24,924	26,987	30,272	32,645	38,920	39,555
CWIP	258	1,343	2,353	694	2,212	5,255	5,060	6,200	3,003	5,702
Investments	20	105	0.00	336	313	442	561	1,370	766	2,638
Other Assets	1,407	1,510	5,621	7,219	12,262	10,550	11,572	13,716	15,890	26,065
Total Assets	11,746	12,811	17,265	32,661	39,711	43,234	47,464	53,932	58,579	73,960

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1,544	2,189	2,198	2,591	5,437	3,784	4,097	3,777	6,038	8,695
Cash from Investing Activity	-816	-1,730	-3,192	-3,050	-5,643	-4,009	-3,936	-4,699	-4,943	-15,222
Cash from Financing Activity	-722	-455	1,589	38	1,250	-745	-235	923	-543	7,975
Net Cash Flow	6.03	4.24	596	-421	1,045	-969	-75	1.59	551	1,448

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Aug 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	71.65%	68.28%	73.22%	73.22%	73.22%	74.94%	69.59%	69.94%	69.94%	69.94%	71.19%	71.19%
FIIs	21.05%	19.65%	17.73%	17.49%	17.49%	15.54%	19.23%	18.66%	17.33%	17.58%	15.85%	13.05%
DIIs	3.80%	3.82%	3.87%	3.83%	3.80%	3.97%	5.34%	5.38%	5.85%	6.33%	6.89%	9.96%
Public	3.51%	8.25%	5.17%	5.46%	5.49%	5.55%	5.84%	6.02%	6.87%	6.15%	6.07%	5.79%
Total Shareholders	3,22,851	4,26,135	4,21,057	4,76,626	4,78,125	4,93,621	4,54,140	4,50,283	5,49,520	5,27,137	5,00,926	4,89,248

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Aug 06, 2025	Envestcom holding rsc ltd	Bulk	Sell	790.00	869.00 Cr	1,10,00,000	0.91
Aug 06, 2025	Envestcom holding rsc ltd	Bulk	Sell	790.00	867.74 Cr	1,09,83,999	0.91
Jun 08, 2024	Emerging market investment dmcc	Insider - Promoter Group	Acquisition	952.76	266.77 Cr	28,00,000	0.252
Jun 05, 2024	Emerging market investment dmcc	Insider - Promoter Group	Acquisition	1,124.06	247.29 Cr	22,00,000	—
Jun 05, 2024	Emerging market investment dmcc	Insider - Promoter Group	Acquisition	1,222.26	220.01 Cr	18,00,000	—
Jun 30, 2023	Fortitude trade and investmen...	Bulk	Sell	786.17	2,666.47 Cr	3,39,17,200	2.82
Jun 30, 2023	Goldman sachs trust ii - gold...	Bulk	Buy	786.19	1,105.05 Cr	1,40,55,742	1.17
Jun 30, 2023	Gqg partners emerging markets...	Bulk	Buy	786.19	570.71 Cr	72,59,149	0.60
Mar 02, 2023	Goldman sachs trust ii - gold...	Bulk	Buy	668.40	549.12 Cr	82,15,488	0.68
Mar 02, 2023	Gqg partners emerging markets...	Bulk	Buy	668.40	594.38 Cr	88,92,556	0.74

Projection

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Actions

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Announcements

Last 7 days

Newest

Sentiment

Analyst/Investor Meet

1 day ago

Investor Interaction Announcement

The company has scheduled equity investor meetings on December 18, 2025, for interaction with investors and analysts.

Acquisition Announcement

4 days ago

Acquisition of KPS III HVDC Transmission Limited

Adani Energy Solutions Limited executed a Share Purchase Agreement to acquire 100% equity shares of KPS III HVDC Transmission Limited.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Showing 1 - 8 of 25

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Financial Statements

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Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	3,664	3,674	4,563	4,707	5,379	6,184	5,830	6,375	6,819	6,596
Expenses	2,090	2,169	3,035	3,141	3,134	4,397	3,705	4,124	4,505	4,307
Operating Profit	1,574	1,505	1,527	1,566	2,244	1,787	2,125	2,251	2,315	2,289
OPM %	42.95	40.95	33.47	33.26	41.73	28.90	36.45	35.31	33.94	34.70
Other Income	108	93	262	148	-1,395	176	170	222	206	171
Interest	616	641	760	750	811	813	809	826	894	872
Depreciation	419	432	458	468	498	484	462	462	465	509
Profit Before Tax	343	370	515	552	-1,053	594	559	974	658	746
Tax %	46.96	23.19	32.33	30.92	-13.11	-30.15	-11.79	26.73	18.10	25.29
Net Profit	182	284	348	381	-1,191	773	625	714	539	557
EPS in Rs	1.46	3.13	2.99	3.01	-3.79	6.39	7.26	5.50	4.27	4.44

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,876	3,944	7,305	11,416	9,926	11,258	13,293	16,607	23,767	25,208
Expenses	893	1,118	4,543	6,929	5,976	7,051	8,775	10,436	15,360	16,730
Operating Profit	1,983	2,826	2,762	4,487	3,950	4,206	4,518	6,171	8,407	8,478
OPM %	68.96	71.64	37.81	39.30	39.80	37.36	33.99	37.16	35.37	33.63
Other Income	22	111	351	33	1,115	1,286	1,583	151	-2,167	774
Interest	904	886	1,391	2,238	2,117	2,365	2,781	2,767	3,259	3,342
Depreciation	569	579	882	1,174	1,329	1,427	1,608	1,776	1,906	1,873
Profit Before Tax	532	1,472	840	1,107	1,620	1,700	1,712	1,780	1,075	2,786
Tax %	21.71	22.34	33.45	36.16	20.39	27.33	25.19	32.81	14.25	4.82
Net Profit	416	1,143	559	706	1,290	1,236	1,281	1,196	922	2,651
EPS in Rs	3.47	9.10	2.11	5.41	6.78	8.14	7.74	10.59	15.36	21.47
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1,100	1,100	1,100	1,100	1,100	1,100	1,100	1,115	1,115	1,201
Reserves	1,572	1,847	4,957	6,943	7,399	7,819	8,813	10,634	11,526	20,867
Borrowings	7,939	8,660	9,605	17,937	23,525	27,095	29,902	34,270	37,070	40,275
Other Liabilities	1,135	1,204	1,604	6,681	7,687	7,219	7,650	7,913	8,868	11,617
Total Liabilities	11,746	12,811	17,265	32,661	39,711	43,234	47,464	53,932	58,579	73,960
Fixed Assets	10,060	9,853	9,291	24,412	24,924	26,987	30,272	32,645	38,920	39,555
CWIP	258	1,343	2,353	694	2,212	5,255	5,060	6,200	3,003	5,702
Investments	20	105	0.00	336	313	442	561	1,370	766	2,638
Other Assets	1,407	1,510	5,621	7,219	12,262	10,550	11,572	13,716	15,890	26,065
Total Assets	11,746	12,811	17,265	32,661	39,711	43,234	47,464	53,932	58,579	73,960

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1,544	2,189	2,198	2,591	5,437	3,784	4,097	3,777	6,038	8,695
Cash from Investing Activity	-816	-1,730	-3,192	-3,050	-5,643	-4,009	-3,936	-4,699	-4,943	-15,222
Cash from Financing Activity	-722	-455	1,589	38	1,250	-745	-235	923	-543	7,975
Net Cash Flow	6.03	4.24	596	-421	1,045	-969	-75	1.59	551	1,448

Overview

Detailed Summary

Adani Energy Solutions Limited (AESL) is a leading private transmission company in India involved in power generation, transmission, and distribution across 14 states.

AESL's strategic focus on expanding its portfolio is evident from its addition of 190 ckm in its transmission network in Q2FY26, contributing to a robust capacity of 26,705 ckm.

The company has secured a substantial order book valued at Rs 60,004 Cr, ensuring strong revenue visibility and growth potential.

AESL's ESG initiatives have been impactful, as indicated by improved ratings and its commitment to a Zero Waste to Landfill philosophy, enhancing its sustainability credentials.

The company continues to make strides in technology and operational advancements, demonstrated by its successful smart metering contracts and drone deployment for challenging terrain inspections.

Sector

Power Generation & Distribution

Industry

Power Generation And Supply

Market Cap

1,19,383 Cr

Volatility

High Risk

P/E Ratio

53.0

Industry P/E

23.4

PEG Ratio

3.3

P/B Ratio

5.1

52W High

1,050.00

52W Low

639.35

Sales CAGR

43.11%

37.85%

17.70%

10Y

24.26%

Profit CAGR

-22.91%

—

156.72%

10Y

—

ROE

TTM

9.64%

6.96%

8.33%

10Y

9.12%

ROCE

TTM

8.99%

8.28%

8.82%

10Y

9.56%

Adaniensol

Adani Energy Solutions Ltd

ADANIENSOL

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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Technicals

Shareholdings

Shareholding History

Market Transactions

Documents

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Oscillators

Neutral

Overall

Bullish

Moving Averages

Bullish

Overall

Bullish

Adani Energy Solutions Ltd

ADANIENSOL

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Strong Buy

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1186.09 ▲ 19.59%

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