Advait Energy Transitions Limited
Advait Energy Transitions Limited (formerly known as, Advait Infratech Limited) established in 2009 and headquartered in Gujarat, is a global leader in end-to-end solutions for power transmission, substations, and telecommunication infrastructure.
Advait's core capabilities include the manufacturing and supply of Stringing Tools, ACS Wires, OPGW Cables, ERS, Optical Fibre Cables, and a comprehensive range of insulators. The company has delivered complex EPC projects, including live-line OPGW installations, underground cabling, and integration of MVCC and HT AB cables, demonstrating its end-to-end project execution capabilities.
In 2023, Advait expanded into the renewable energy domain, undertaking projects in Green Hydrogen and Solar Power integration.
- Market Cap ₹ 1,905 Cr.
- Current Price ₹ 1,738
- High / Low ₹ 2,419 / 1,088
- Stock P/E 41.5
- Book Value ₹ 210
- Dividend Yield 0.10 %
- ROCE 26.9 %
- ROE 22.5 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 131% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.7%
Cons
- Stock is trading at 8.29 times its book value
- Company has high debtors of 173 days.
- Promoter holding has decreased over last 3 years: -6.72%
* 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
Industrials Capital Goods Industrial Products Cables - Electricals
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 28 | 45 | 66 | 79 | 104 | 209 | 399 | 680 | |
| 24 | 40 | 61 | 68 | 88 | 173 | 347 | 605 | |
| Operating Profit | 4 | 4 | 5 | 10 | 17 | 36 | 52 | 74 |
| OPM % | 14% | 10% | 7% | 13% | 16% | 17% | 13% | 11% |
| 0 | 2 | 2 | 1 | 2 | 3 | 7 | 13 | |
| Interest | 0 | 1 | 1 | 1 | 3 | 7 | 11 | 14 |
| Depreciation | 0 | 2 | 2 | 2 | 4 | 3 | 3 | 3 |
| Profit before tax | 4 | 3 | 4 | 9 | 12 | 29 | 45 | 70 |
| Tax % | 42% | 79% | -30% | 40% | 29% | 26% | 28% | |
| 2 | 1 | 5 | 5 | 8 | 22 | 32 | 49 | |
| EPS in Rs | 2.80 | 0.72 | 4.68 | 5.22 | 8.27 | 21.45 | 28.60 | 42.18 |
| Dividend Payout % | 0% | 104% | 11% | 10% | 0% | 7% | 6% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 55% |
| 3 Years: | 72% |
| TTM: | 157% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 131% |
| 3 Years: | 81% |
| TTM: | 71% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 133% |
| 3 Years: | 84% |
| 1 Year: | 47% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 26% |
| Last Year: | 22% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 5 | 5 | 10 | 10 | 11 | 11 |
| Reserves | 15 | 16 | 25 | 30 | 36 | 63 | 192 | 218 |
| 6 | 10 | 8 | 9 | 15 | 59 | 72 | 62 | |
| 20 | 22 | 28 | 37 | 55 | 67 | 218 | 258 | |
| Total Liabilities | 44 | 52 | 65 | 81 | 116 | 199 | 492 | 549 |
| 19 | 18 | 15 | 15 | 35 | 42 | 50 | 40 | |
| CWIP | 0 | 0 | 0 | 13 | 1 | 1 | 2 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 1 | 86 | 23 |
| 25 | 34 | 50 | 53 | 80 | 155 | 355 | 484 | |
| Total Assets | 44 | 52 | 65 | 81 | 116 | 199 | 492 | 549 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 3 | 1 | -0 | 12 | 13 | -10 | 46 | |
| -12 | -0 | 1 | -14 | -7 | -8 | -94 | |
| 9 | 1 | 5 | -2 | 3 | 44 | 100 | |
| Net Cash Flow | -0 | 2 | 6 | -4 | 8 | 25 | 52 |
| Free Cash Flow | -9 | 1 | -0 | -3 | 5 | -19 | 32 |
| CFO/OP | 75% | 71% | 31% | 128% | 91% | -12% | 109% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 185 | 99 | 113 | 135 | 105 | 75 | 173 |
| Inventory Days | 29 | 68 | 47 | 50 | 91 | 68 | 26 |
| Days Payable | 316 | 253 | 180 | 211 | 298 | 166 | 276 |
| Cash Conversion Cycle | -102 | -86 | -20 | -25 | -102 | -22 | -77 |
| Working Capital Days | 40 | 3 | 32 | 21 | -34 | -21 | 5 |
| ROCE % | 13% | 13% | 24% | 28% | 37% | 27% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Order Book INR Crore |
|
|||||
| ACS Wires Manufacturing Capacity MT per annum ・Standalone data |
||||||
| OPGW Cables Manufacturing Capacity KM per annum ・Standalone data |
||||||
| Solar EPC Project Pipeline/Execution MW |
||||||
| Verified Carbon Credits Managed Million |
||||||
| Green Hydrogen Electrolyser Manufacturing Capacity (Planned/Under Development) MW |
||||||
| Number of Shareholders Count ・Standalone data |
||||||
| Target Market Share in India ERS Market % |
||||||
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
1d - LOI for 150MW/300MWh BESS in Gujarat; tariff Rs210,000/MW/month; 18-month execution.
-
Order Received - Supply, Installation, Testing And Commissioning Of 11 KV Medium Voltage Covered Conductor (MVCC) - Rajkot Rural- PGVCL - Package 9
1d - Advait Energy secured ₹54.08 crore MVCC contract from PGVCL for Rajkot; nine-month execution.
-
Order Received - Supply, Installation, Testing And Commissioning Of 11 KV Medium Voltage Covered Conductor (MVCC) - Surendranagar District - PGVCL - Package 11
1d - Received INR 37.78 crore PGVCL order for 11kV MVCC in Surendranagar; 9-month execution (awarded 30 Mar 2026).
-
Order Received - Supply, Installation, Testing And Commissioning Of 11 KV Medium Voltage Covered Conductor (MVCC) - Bhavnagar District - PGVCL - Package 8
1d - Received Rs53,83,92,519.78 PGVCL MVCC order on 30 Mar 2026; 9-month execution.
-
Order Received - Supply, Installation, Testing And Commissioning Of 11 KV Medium Voltage Covered Conductor (MVCC) - Morbi District - PGVCL - Package 7
1d - Won ₹55.14 crore PGVCL contract for 11kV MVCC supply and installation in Morbi, 9-month execution.
Annual reports
Concalls
-
Feb 2026Transcript PPT REC
-
Nov 2025Transcript PPT REC
-
Aug 2025TranscriptAI SummaryPPT
-
Jun 2025TranscriptAI SummaryPPT
-
May 2025TranscriptAI SummaryPPT
-
Feb 2025Transcript PPT REC
-
Dec 2024TranscriptAI SummaryPPT
-
Oct 2024TranscriptAI SummaryPPT
-
Sep 2024TranscriptAI SummaryPPT
-
Jun 2024TranscriptAI SummaryPPT
-
Feb 2024TranscriptAI SummaryPPT
-
Nov 2023TranscriptAI SummaryPPT
-
May 2023TranscriptAI SummaryPPT
Business Overview:[1]
AETL provides products and solutions for power transmission, substation, telecommunication infrastructure and Renewable Energy solutions. Also, company is providing EPC solution for live line projects reconductoring projects, upgrade in transmission network infra, GH2 solutions, and ground mountain solar solutions and battery energy systems solutions