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Adani Energy Solutions
(09:04, 25 Jul 2025)
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Consolidated net sales (including other operating income) of Adani Energy Solutions for the quarter ended Jun 2025 has increased 26.79% to Rs 6819.28 crore.  Operating profit margin has declined from 30.69% to 26.55%, leading to 9.69% rise in operating profit to Rs 1,810.69 crore.  Purchase of finished goods cost fell from 3.08% to 2.82%.   Employee cost decreased from 5.13% to 3.39%.   Other expenses rose from 50.05% to 59.85%.   Power and Oil fuel cost fell from 30.46% to 25.28%.   Other direct service cost rose from 11.22% to 25.54%. Other income rose 85.07% to Rs 206.21 crore.  PBIDT rose 14.46% to Rs 2016.9 crore.  Provision for interest rose 10.25% to Rs 894.03 crore. PBDT rose 18.05% to Rs 1122.87 crore.  Provision for depreciation fell 6.63% to Rs 464.82 crore.  Profit before tax grew 45.16% to Rs 658.05 crore.  Share of profit/loss were nil in both the periods.  EO Expense for the quarter was nil compared to an expense of Rs 1506.02 crore. Thus on deflated base the PBT after EO was a profit of 658.05 crore compared to a loss of Rs 1052.7 crore. Provision for tax was expense of Rs 119.11 crore, compared to Rs 137.96 crore.  Effective tax rate was 18.10% compared to negative 13.11%.  MI was as share of profit of Rs 26.46 crore against a share of loss of Rs 366.74 crore. Net profit was Rs 512.48 crore against an loss of Rs 823.92 crore.
  • Sales of Transmission segment has gone up 25.31% to Rs 2,188.19 crore (accounting for 32.09% of total sales).  Sales of Trading segment rose 25.37% to Rs 209.71 crore (accounting for 3.08% of total sales).  Sales of Distribution segment has gone up 3,545.66% to Rs 3,359.84 crore (accounting for 49.27% of total sales).  
  • PBIT of Transmission segment rose 15.01% to Rs 927.18 crore (accounting for 68.89% of total PBIT).  PBIT of Trading segment rose 1,147.14% to Rs 17.46 crore (accounting for 1.30% of total PBIT).  PBIT of Distribution reported profit of Rs 302.79 crore compared to loss of Rs 1,182.11 crore.  PBIT of Others segment rose 361.08% to Rs 98.44 crore (accounting for 7.31% of total PBIT).  
  • PBIT margin of Transmission segment fell from 46.17% to 42.37%.  PBIT margin of Trading segment rose from 0.84% to 8.33%.  PBIT margin of Distribution segment rose from negative 1,282.67% to 9.01%.  Overall PBIT margin rose from 6.57% to 19.74%.  
Segment-wise Progress and Outlook: Transmission: ' Robust under construction project pipeline of 13 projects worth Rs 59,304 crore are currently under the execution phase ' The company expects to fully commission North Karanpura, WRSR (Narendra ' Pune), Mumbai HVDC and Khavda Phase-III-A (Halvad) in FY26 in addition to three lines commissioned in Q1 FY26 ' The near-term transmission tendering pipeline is solid at ~Rs 89,864 crore with two large HVDC projects part of the pipeline Distribution:  ' The distribution business recorded a steady business performance. AEML's Regulated Asset Base (RAB) stands at Rs 9,433 crores (Equity of Rs 5,024 crores and Debt of Rs 4,409 crores) as of Q1 FY26, recording a growth of 13% YoY Smart Meters: ' Installed 55.4 lakh smart meters as of Q1 FY26. The company plans to install at least 70 lakh new meters in FY26, thereby achieving a cumulative number of minimum ~1 crore meters by the end of FY26 ' The under-implementation pipeline stands at 22.8 million smart meters, comprising nine projects with a revenue potential of over Rs 27,195 crore.


Management Comments :
'We are pleased to report another robust quarter. The effective on-ground execution & focused O&M enabling consistent progress on the project capex growth continues to be our key performance yardstick as we stay focused on unlocking the huge locked-in growth potential in our core business segments. During this quarter, the company made strides to commission three new transmission lines and achieved industry leading daily run-rate in terms of smart meters installation. We expect to not only maintain the same momentum, but further enhance our pursuit of timely completion of our under-construction project pipeline. In terms of business outlook, as the sector offers immense opportunities backed by regulatory support and strong underlying factors like power demand and changing energy mix, AESL remains excited to tap the fresh opportunities falling within the risk-reward matrix and capital allocation policy of the company. We anticipate a significant increase in AESL's capex roll-out and new bid activity from Q2, as the monsoon subsides,' said Kandarp Patel, CEO, Adani Energy Solutions 

Promoters' stake was 71.19% as of 30 June 2025 ,compared to 74.94% as of 30 June 2024 .  Promoters pledged stake was 0.79% as of 30 June 2025 ,compared to 2.28% as of 30 June 2024 .  









Adani Energy Solutions : Consolidated Results
 Quarter endedYear ended
Particulars202506202406Var.(%)202503202403Var.(%)
Net Sales (including other operating income)6,819.285,378.5526.7923,767.0916,607.3643.11
OPM (%)26.5530.69-414 bps29.7334.39-466 bps
OP1,810.691,650.689.697,066.525,711.2023.73
Other Inc.206.21111.4285.07679.46610.9511.21
PBIDT2,016.901,762.1014.467,745.986,322.1522.52
Interest894.03810.9310.253,259.162,766.5117.81
PBDT1,122.87951.1718.054,486.823,555.6426.19
Depreciation464.82497.85-6.631905.951776.087.31
PBT658.05453.3245.162580.871779.5645.03
Share of Profit/(Loss) from Associates00-00-
PBT before EO658.05453.3245.162580.871779.5645.03
EO Income0-1506.02--1506.020-
PBT after EO658.05-1052.7LP1074.851779.56-39.60
Taxation119.11137.96-13.66153.16583.95-73.77
PAT538.94-1190.66LP921.691195.61-22.91
Minority Interest (MI)26.46-366.74PL-138.2858.33LP
Net profit512.48-823.92LP1059.971137.28-6.80
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations512.48-823.92LP1059.971137.28-6.80
EPS (Rs)*4.271.82134.8521.199.47123.79
* EPS is on current equity of Rs 1,201.28 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


Adani Energy Solutions : Consolidated Segment Results
 Quarter endedYear ended
% of (Total)202506202406Var.(%)% of (Total)202503202403Var.(%)
Sales
Transmission32.092,188.191,746.1825.3135.058,330.594,670.3978.37
GTD Business0.000.000.00-
Trading3.08209.71167.2725.375.811,380.441,029.5934.08
Smart Meeting0.000.003,372.94-
Distribution49.273,359.8492.163,545.6651.6112,266.48734.611,569.79
Others15.571,061.540.00-
Total Reported Sales100.006,819.285,378.5526.79100.0023,767.0916,607.3643.11
Less: Inter segment revenues 0.000.00- 0.000.00-
Net Sales100.006,819.285,378.5526.79100.0023,767.0916,607.3643.11
PBIT
Transmission68.89927.18806.1715.0193.823,428.662,688.6427.52
GTD Business0.000.000.00-
Trading1.3017.461.401,147.140.3914.220.642,121.88
Smart Meeting0.000.000.00-
Distribution22.50302.79-1,182.11LP0.5219.101,201.31-98.41
Others7.3198.4421.35361.085.27192.5744.53332.45
Total PBIT100.001,345.87-353.19LP100.003,654.553,935.12-7.13
Less : Interest894.03810.9310.253,259.162,766.5117.81
Add: Other un-allcoable206.21111.4285.07679.46610.9511.21
PBIT Margin(%)
Transmission 42.3746.17-379.56 41.1657.57-1,641.03
GTD Business 0.000.000.00
Trading 8.330.84748.88 1.030.0696.79
Smart Meeting 0.000.000.00
Distribution 9.01-1,282.67129,168.35 0.16163.53-16,337.46
Others 9.270.00927.33 10.760.001,076.06
PBT100.00658.05-1,052.70LP100.001,074.851,779.56-39.60

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