Adani Energy Solutions Limited (AESL) reported a strong performance for Q3 and 9M FY26, driven by growth in its transmission and smart metering segments. Adjusted PAT in Q3 grew by 30% YoY, and 9MFY26 EBITDA rose by 16% YoY. The company installed 92.5 lakh smart meters cumulatively and is on track to surpass its guidance of 1 crore cumulative meters. AESL’s growth is underpinned by strong on-ground execution and robust operational performance.
Key Financial Highlights
Adani Energy Solutions (AESL) has demonstrated robust financial growth in the recent quarter and nine-month period:
- Total Income: Increased by 15.7% YoY in Q3FY26, reaching an all-time high of Rs 6,945 crore, driven by better operating performance and SCA income. For 9MFY26, total income was up 16.2% YoY to Rs 20,737 crore.
- EBITDA: Reached a record high of Rs 2,210 crore in Q3FY26, a 20.7% YoY increase, fueled by growth in transmission and smart metering. 9MFY26 EBITDA grew by 15.9% YoY to Rs 6,354 crore.
- Profit Before Tax: Rose by 43.2% YoY to Rs 801 crore in Q3FY26. For 9MFY26, PBT increased by 37.3% YoY to Rs 2,205 crore.
- Adjusted PAT: Increased by 30.4% YoY to Rs 574 crore in Q3FY26. In 9MFY26, adjusted PAT grew by 34.4% YoY.
Capex and Smart Metering Progress
AESL has significantly increased its capital expenditure and smart meter installations:
- Capex: Increased by 1.24x to Rs 9,294 crore in 9MFY26 compared to Rs 7,475 crore in 9MFY25.
- Smart Meters: Installed 61.2 lakh new meters in 9MFY26, bringing the cumulative total to 92.5 lakh meters. The company is on track to exceed 1 crore cumulative meters by the end of FY26.
Growth Opportunities
AESL is positioned for continued growth with a substantial pipeline of projects:
- Transmission: Aggregate transmission pipeline under construction stands at Rs 77,787 crore.
- Smart Metering: Order book of 2.46 crore meters with a revenue potential of Rs 29,519 crore.
Moody’s Outlook Revision
Moody’s Ratings has revised the outlook of Adani Transmission Step-One Limited and Adani Electricity Mumbai Limited to ‘Stable’ from ‘Negative’ and affirmed the Baa3 senior secured ratings.
Source: BSE
