Adani Energy Solutions reported a strong performance in Q3 & 9M FY26, with adjusted PAT growth of 30%. The company commissioned 4 transmission projects in the first 9 months and is on track to commission 3 more, including a landmark HVDC project. Smart meter installations reached approximately 92 lakhs, and the company expects to cross 1 crore installations by year-end. Moody’s revised the rating outlook to stable for two subsidiaries.
Financial Performance Highlights
Adani Energy Solutions (AESL) showcased a robust financial performance, as highlighted in the Q3 & 9M FY26 earnings call. Key achievements include:
- Adjusted PAT growth of 30%, factoring in a one-time deferred tax impact from the previous year.
- Consolidated EBITDA reaching INR 2,200 crores for the quarter, marking a growth of 21%.
- Consolidated PBT increased by 43%, reaching INR 800 crores.
Project Updates and Commissioning
The company made significant strides in project execution during the period:
- Commissioned 4 transmission projects in the first 9 months: NKTL, Khavda Phase-II Part-A, Khavda Pooling Station, and Sangod Transmission project.
- On track to commission 3 additional projects, including a landmark HVDC project, with testing and commissioning underway.
- Smart meter installations reached approximately 92 lakhs and are expected to surpass 1 crore by the end of the fiscal year.
Business Segment Performance
Key highlights from different business segments include:
- Distribution business maintained excellent line availability at over 99.7%, resulting in incentive income of INR33 crores.
- T&D losses in the distribution business were reduced to approximately 4.03%.
- C&I business is experiencing rapid growth, with the aggregate load reaching approximately 700 megawatts, serving 14 consumers at the end of December, which has since increased to 31 consumers with a load of 1,300 megawatts.
- District cooling facility of 40,000 metric tons of refrigeration is being set up in Mundra.
Future Outlook and Growth Drivers
AESL anticipates significant growth opportunities in the transmission, smart metering, and C&I business segments, with a strong pipeline and opportunity pool available in the market.
- Project pipeline has reached approximately INR 78,000 crores with the addition of another HVDC project (KPS-III, Khavda South Olpad project).
- Expects bidding for at least INR70,000 crores to INR80,000 crores worth of projects in the next 12 months.
Source: BSE
