Adani Energy Solutions Ltd

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Adani Energy Solutions Ltd

₹ 1,605 0.97%
26 Aug 11:19 a.m.
adanienergysolutions.com BSE: 539254 NSE: ADANIENSOL F&O
About

AESL, part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. AESL is India's largest private transmission company.[1]

Key Points

Business Segments[1]
A) Power Distribution (50% in FY26 vs 55% in FY25)[2] [3]
The company has a power distribution network of 485 sq km, serving 13 Mn+ consumers in metropolitan Mumbai and the industrial hub of Mundra SEZ. It has applied for licenses in 3 new areas, including Navi Mumbai, Greater Noida, and Mundra Subdistrict.

Website BSE NSE F&O
  • Market Cap ₹ 1,96,339 Cr.
  • Current Price ₹ 1,605
  • High / Low ₹ 1,789 / 745
  • Stock P/E 423
  • Book Value ₹ 174
  • Dividend Yield 0.00 %
  • ROCE 4.92 %
  • ROE 2.81 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 96.0% CAGR over last 5 years

Cons

  • Stock is trading at 9.29 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Company has a low return on equity of 3.78% over last 3 years.
  • Earnings include an other income of Rs.1,238 Cr.
  • Company has high debtors of 280 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Utilities Power Power Power Distribution

Part of BSE 500 BSE 200 BSE Dollex 200 Nifty Next 50 Nifty 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
14 202 885 416 114 468 349 1,007 825 665 640 1,252 919
18 209 868 409 112 427 358 992 803 634 584 1,143 862
Operating Profit -4 -6 17 7 1 41 -9 15 23 30 57 109 56
OPM % -27% -3.2% 1.9% 1.6% 1.3% 9% -2.6% 1.5% 2.8% 4.6% 9% 9% 6%
425 193 201 175 195 270 310 333 287 306 296 351 285
Interest 56 81 103 108 120 132 136 142 160 198 217 252 277
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 365 105 114 74 77 180 164 207 150 139 135 208 64
Tax % 18% 0% 0% 0% 0% 0% 0% 4% -4% 27% 15% 4% 23%
301 105 114 74 77 180 164 198 156 101 114 199 49
EPS in Rs 2.70 0.94 1.02 0.67 0.69 1.50 1.36 1.65 1.30 0.84 0.95 1.66 0.41
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
23 274 810 835 833 858 755 740 688 1,517 1,938 3,383 3,476
23 208 785 841 848 881 765 742 716 1,504 1,889 3,164 3,224
Operating Profit 0 66 25 -5 -15 -23 -10 -2 -28 13 49 219 252
OPM % 1.4% 24% 3.1% -0.7% -1.8% -2.7% -1.3% -0.3% -4.1% 0.9% 2.5% 6% 7%
1 147 799 775 802 796 679 701 615 995 1,109 1,240 1,238
Interest 19 270 819 794 733 767 690 763 416 348 530 826 944
Depreciation 0 0 0 0 0 0 0 0 0 0 1 1 1
Profit before tax -18 -57 5 -25 54 6 -21 -65 170 659 627 631 545
Tax % 0% 0% 21% 0% 21% 0% 0% 0% 0% 10% 1% 10%
-18 -57 4 -25 42 6 -21 -65 170 595 618 571 464
EPS in Rs -0.16 -0.51 0.04 -0.22 0.39 0.05 -0.19 -0.59 1.53 5.33 5.14 4.75 3.86
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 29%
5 Years: 35%
3 Years: 70%
TTM: 31%
Compounded Profit Growth
10 Years: 28%
5 Years: 96%
3 Years: 50%
TTM: -34%
Stock Price CAGR
10 Years: 45%
5 Years: 2%
3 Years: 22%
1 Year: 102%
Return on Equity
10 Years: 2%
5 Years: 3%
3 Years: 4%
Last Year: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 1,090 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,115 1,115 1,201 1,201
Reserves -18 1,149 1,021 2,753 4,059 3,711 2,987 2,877 9,211 9,806 18,497 19,716
2,627 5,304 7,976 7,797 7,154 7,856 7,864 8,549 2,602 5,166 7,553 11,037
12 68 683 597 498 268 234 141 38 308 1,313 3,884
Total Liabilities 3,711 7,621 10,779 12,247 12,811 12,934 12,185 12,666 12,966 16,395 28,564 35,838
0 1 1 1 1 1 1 1 0 9 10 10
CWIP 0 0 0 0 0 0 0 0 8 4 30 35
Investments 3,683 3,686 3,815 3,783 6,958 5,984 6,203 6,681 6,721 9,030 13,207 15,394
28 3,934 6,964 8,463 5,852 6,948 5,981 5,984 6,237 7,352 15,318 20,399
Total Assets 3,711 7,621 10,779 12,247 12,811 12,934 12,185 12,666 12,966 16,395 28,564 35,838

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-11 57 -15 50 23 -17 -22 3 -15 -209 -606 442
-3,683 -3,747 -2,311 -246 -266 1,971 191 240 -1,665 -2,001 -9,164 -3,695
3,694 3,691 2,325 703 -234 -1,184 -961 -248 1,681 2,210 10,238 2,828
Net Cash Flow 0 2 -0 506 -477 770 -793 -6 0 -0 468 -425
Free Cash Flow -11 56 -14 50 22 -17 -22 2 -38 -215 -625 436
CFO/OP -3,309% 91% -40% -979% -312% 71% 378% -432% 67% -1,110% -1,231% 240%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 412 102 50 13 4 41 0 0 1 55 195 280
Inventory Days
Days Payable
Cash Conversion Cycle 412 102 50 13 4 41 0 0 1 55 195 280
Working Capital Days -41,485 -3,140 -250 -505 -473 250 -329 -214 -176 -77 -24 -55
ROCE % 0% 4% 9% 7% 7% 6% 5% 6% 5% 7% 5% 5%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Transmission Network Length (Operational + Under-construction)
ckm

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AEML Distribution Loss
%
AEML Units Sold
MUs
Average Transmission System Availability
%
AEML Consumer Base
million
Cumulative Smart Meters Installed
million
Power Transformation Capacity (Operational + Under-construction)
MVA
Smart Meter Orderbook
million meters

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Jul 2026
73.22% 73.22% 74.95% 69.94% 69.94% 69.94% 71.19% 71.19% 71.19% 72.72% 74.71% 73.39%
17.49% 17.49% 15.53% 18.66% 17.34% 17.58% 15.85% 13.06% 13.47% 12.23% 10.14% 10.31%
3.82% 3.80% 3.97% 5.38% 5.85% 6.33% 6.89% 9.97% 10.14% 10.24% 11.77% 13.05%
5.46% 5.49% 5.54% 6.03% 6.87% 6.16% 6.08% 5.79% 5.20% 4.81% 3.39% 3.26%
No. of Shareholders 4,76,6264,78,1254,93,6214,50,2835,49,5205,27,1375,00,9264,89,2484,37,5714,03,6253,85,3153,76,377

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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