Adani Energy Solutions Ltd

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Adani Energy Solutions Ltd

₹ 1,349 0.13%
16 Sep - close price
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 ₹ 1,65,068 Cr.
  • Current Price ₹ 1,349
  • High / Low ₹ 1,789 / 803
  • Stock P/E 56.6
  • Book Value ₹ 212
  • Dividend Yield 0.00 %
  • ROCE 9.65 %
  • ROE 9.44 %
  • Face Value ₹ 10.0
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Pros

  • Company's median sales growth is 28.0% of last 10 years

Cons

  • Stock is trading at 6.37 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 10.5% over last 3 years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
3,664 3,674 4,563 4,707 5,379 6,184 5,830 6,375 6,819 6,596 6,730 7,443 9,711
2,395 2,324 3,092 3,141 3,728 4,469 4,170 4,335 5,009 4,640 4,734 5,298 6,703
Operating Profit 1,269 1,350 1,471 1,566 1,651 1,715 1,661 2,040 1,811 1,955 1,995 2,145 3,008
OPM % 35% 37% 32% 33% 31% 28% 28% 32% 27% 30% 30% 29% 31%
108 93 262 204 -1,395 176 170 222 206 171 215 227 170
Interest 616 641 760 750 811 813 809 826 894 872 913 954 1,152
Depreciation 419 432 458 468 498 484 462 462 465 509 496 508 585
Profit before tax 343 370 515 552 -1,053 594 559 974 658 746 801 910 1,441
Tax % 47% 23% 32% 31% 13% -30% -12% 27% 18% 25% 28% 21% 14%
182 284 348 381 -1,191 773 625 714 539 557 574 723 1,237
EPS in Rs 1.57 2.47 2.91 3.24 -7.39 5.62 4.68 5.39 4.27 4.44 4.60 5.69 9.57
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
131 2,194 2,876 3,944 7,305 11,416 9,926 11,258 13,293 16,607 23,767 27,588 30,480
29 267 893 1,118 4,528 7,158 5,976 7,051 8,775 10,896 16,701 19,583 21,376
Operating Profit 101 1,927 1,983 2,826 2,778 4,258 3,950 4,206 4,518 5,711 7,067 8,005 9,104
OPM % 78% 88% 69% 72% 38% 37% 40% 37% 34% 34% 30% 29% 30%
3 70 22 111 336 261 1,115 1,286 1,583 611 -827 721 783
Interest 73 957 904 886 1,391 2,238 2,117 2,365 2,781 2,767 3,259 3,633 3,891
Depreciation 37 560 569 579 882 1,174 1,329 1,427 1,608 1,776 1,906 1,978 2,099
Profit before tax -5 480 532 1,472 840 1,107 1,620 1,700 1,712 1,780 1,075 3,115 3,898
Tax % 34% 23% 22% 22% 33% 36% 20% 27% 25% 33% 14% 23%
-7 368 416 1,143 559 706 1,290 1,236 1,281 1,196 922 2,393 3,090
EPS in Rs -0.06 3.35 3.79 10.39 5.08 6.74 11.13 10.95 11.26 10.20 8.82 19.00 24.30
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 29%
5 Years: 23%
3 Years: 28%
TTM: 21%
Compounded Profit Growth
10 Years: 20%
5 Years: 13%
3 Years: 21%
TTM: 22%
Stock Price CAGR
10 Years: 42%
5 Years: -6%
3 Years: 17%
1 Year: 61%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 10%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 -7 1,572 1,847 4,957 6,943 7,399 7,819 8,813 10,634 11,526 20,867 24,226
9,701 8,585 8,975 10,428 20,137 24,246 27,095 29,902 34,270 37,070 39,926 49,176
708 489 890 781 4,379 6,966 7,219 7,650 7,913 8,827 11,908 18,153
Total Liabilities 11,492 11,746 12,811 17,265 32,558 39,711 43,234 47,464 53,932 58,538 73,902 92,757
10,573 10,060 9,853 9,291 24,412 24,924 26,987 30,272 32,645 38,920 39,555 46,804
CWIP 10 258 1,343 2,353 694 2,212 5,255 5,060 6,200 3,003 5,702 2,054
Investments 0 20 105 0 336 313 442 561 1,370 766 2,638 2,644
909 1,407 1,510 5,621 7,117 12,262 10,550 11,572 13,716 15,849 26,007 41,256
Total Assets 11,492 11,746 12,811 17,265 32,558 39,711 43,234 47,464 53,932 58,538 73,902 92,757

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-35 1,544 2,189 2,198 2,591 5,437 3,784 4,097 3,777 6,038 9,045 10,997
-1,864 -816 -1,730 -3,192 -3,050 -5,643 -4,009 -3,936 -4,699 -4,943 -15,222 -14,083
1,902 -722 -455 1,589 38 1,250 -745 -235 923 -543 7,626 2,630
Net Cash Flow 3 6 4 596 -421 1,045 -969 -75 2 551 1,448 -456
Free Cash Flow -228 810 829 1,237 1,393 2,675 -168 -94 -925 608 -334 -3,435
CFO/OP -20% 84% 119% 89% 100% 132% 102% 104% 89% 111% 131% 143%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 1,255 30 24 24 36 32 37 35 39 82 65 76
Inventory Days
Days Payable
Cash Conversion Cycle 1,255 30 24 24 36 32 37 35 39 82 65 76
Working Capital Days -11,796 -473 -128 -115 -175 14 -122 -97 -78 -57 -34 -50
ROCE % 1% 13% 12% 17% 10% 11% 11% 10% 10% 9% 10% 10%

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)
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AEML Distribution Loss
% ・Standalone data
AEML Units Sold
MUs ・Standalone data
Average Transmission System Availability
%
AEML Consumer Base
million ・Standalone data
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

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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Documents

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Credit ratings

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