Power · NIFTY 500

Adani Energy Solutions Limited

NSEADANIENSOL BSE539254 ISININE931S01010 SeriesEQ Listed on NSE · BSE

₹1,434.10 +17.10 (+1.21%) Updated 12 Nov, 8:49 pm IST

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Price, daily close+47.82% in a year

Today

Open: ₹1,424.00
Prev close: ₹1,417.00
Day high: ₹1,439.70
Day low: ₹1,409.60
Volume: 13.64 L
Value traded: ₹195.26 Cr
Upper circuit: ₹1,475.60
Lower circuit: ₹1,389.80
52W high: ₹1,789.00
52W low: ₹803.10
1 month: +16.45%
6 months: +8.73%

52W low52W high

Ratios

Key numbers

Worked out from the latest filings (Consolidated) and today's price. TTM = last four quarters.

Market cap₹175,383 Cr

P/E (TTM)44.55

P/B5.60

Book value / share₹255.97

EPS (TTM)₹32.19

ROE11.8%

Dividend yield—

Dividend (12m)—

Net margin (TTM)10.9%

Operating margin30.8%

Debt / equity1.65

Current ratio1.25

EV / EBITDA21.15

Sales growth (YoY qtr)+52.76%

Profit growth (YoY qtr)+147.74%

Sales CAGR 3Y+27.56%

Profit CAGR 3Y+22.02%

Shares122.30 Cr

Quarterly results

Results for each quarter

Last 12 quarters, consolidated, ₹ crore. Hover a bar to see the number.

Revenue and net profit

4,563325

Dec 23

4,707361

Mar 24

5,379-824

Jun 24

6,184675

Sep 24

5,830562

Dec 24

6,375647

Mar 25

6,819512

Jun 25

6,596534

Sep 25

6,730552

Dec 25

7,443684

Mar 26

9,7111,149

Jun 26

10,0761,323

Sep 26

Revenue · QoQ (vs last quarter)

—+3.2%+14%+15%-5.7%+9.3%+7.0%-3.3%+2.0%+11%+30%+3.8%

Revenue · YoY (vs a year ago)

————+28%+35%+27%+6.7%+15%+17%+42%+53%

Net profit · QoQ (vs last quarter)

—+11%-328%+182%-17%+15%-21%+4.2%+3.4%+24%+68%+15%

Net profit · YoY (vs a year ago)

————+73%+79%+162%-21%-1.7%+5.7%+124%+148%

RevenueNet profitLine = trend

2.92

Dec 23

2.94

Mar 24

-7.39

Jun 24

6.09

Sep 24

4.85

Dec 24

6.57

Mar 25

6.88

Jun 25

6.19

Sep 25

6.34

Dec 25

5.27

Mar 26

9.57

Jun 26

11.01

Sep 26

EPS (₹) · YoY (vs a year ago)

————+66%+123%+193%+1.6%+31%-20%+39%+78%

EPS (₹)Line = trend

₹ Cr	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	4,563	4,707	5,379	6,184	5,830	6,375	6,819	6,596	6,730	7,443	9,711	10,076
Other income	262	148	111	176	170	222	206	171	215	145	141	164
Total income	4,824	4,855	5,490	6,360	6,000	6,596	7,025	6,767	6,944	7,588	9,852	10,239
Raw material	1,468	1,268	1,638	1,761	1,476	1,333	1,724	1,601	1,508	1,516	0.0	3,244
Purchases	737	115	166	490	344	366	192	189	231	392	67.2	173
Employee cost	259	179	276	293	230	234	231	236	318	308	228	290
Other expenses	571	1,579	1,054	1,853	1,656	2,191	2,358	2,281	2,338	3,083	6,407	3,268
Total expenses	4,253	4,359	4,443	5,694	4,976	5,412	5,864	5,688	5,803	6,760	8,440	8,756
Operating profit	1,527	1,566	737	1,787	2,125	2,251	2,315	2,289	2,336	2,145	3,037	3,101
OPM %	33.5%	33.3%	13.7%	28.9%	36.5%	35.3%	33.9%	34.7%	34.7%	28.8%	31.3%	30.8%
Finance cost	760	750	811	813	809	826	894	872	913	954	1,152	1,180
Depreciation	458	468	498	484	462	462	465	509	496	508	585	601
Exceptional items	—	—	-1,507	0.2	-0.1	—	—	—	—	—	28.6	—
Profit before tax	571	496	-460	666	1,024	1,185	1,162	1,079	1,141	828	1,441	1,484
Tax	166	169	137	-179	-66.1	287	119	189	227	187	156	403
Net profit	348	381	-1,191	773	625	687	539	557	574	723	1,237	1,364
Profit to shareholders	325	361	-824	675	562	647	512	534	552	684	1,149	1,323
EPS (₹)	2.92	2.94	-7.39	6.09	4.85	6.57	6.88	6.19	6.34	5.27	9.57	11.01

Profit & loss

Results for each year

8 financial years (April to March), consolidated, ₹ crore.

Sales, operating profit and net profit

3,9442,8261,143

FY18

7,3052,8580.0

FY19

9,9264,5331,224

FY21

11,2584,8891,205

FY22

13,2935,5531,256

FY23

16,6075,7111,137

FY24

23,7676,9011,060

FY25

27,5889,0842,283

FY26

Revenue · YoY (vs a year ago)

—+85%—+13%+18%+25%+43%+16%

Net profit · YoY (vs a year ago)

—-100%—-1.6%+4.3%-9.5%-6.8%+115%

RevenueOperating profitNet profitLine = trend

₹ Cr	FY18	FY19	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	3,944	7,305	9,926	11,258	13,293	16,607	23,767	27,588
Other income	111	255	533	604	548	611	679	737
Total expenses	2,584	6,816	9,422	10,843	13,164	14,979	20,525	24,115
Employee cost	42.3	587	931	885	987	952	1,033	1,093
Operating profit	2,826	2,858	4,533	4,889	5,553	5,711	6,901	9,084
OPM %	71.6%	39.1%	45.7%	43.4%	41.8%	34.4%	29.0%	32.9%
Finance cost	886	1,391	2,117	2,365	2,781	2,767	3,259	3,633
Depreciation	579	882	1,329	1,427	1,608	1,776	1,906	1,978
Profit before tax	1,472	840	1,620	1,700	1,712	1,780	2,416	4,210
Tax	329	281	424	436	435	580	179	722
Tax rate %	22.3%	33.4%	26.2%	25.6%	25.4%	32.6%	7.4%	17.2%
Net profit	1,143	559	1,290	1,947	2,316	1,196	922	2,393
Profit to shareholders	1,143	0.0	1,224	1,205	1,256	1,137	1,060	2,283
Net margin %	29.0%	0.0%	12.3%	10.7%	9.5%	6.8%	4.5%	8.3%
EPS (₹)	9.94	1.43	5.75	8.90	11.10	12.87	16.14	24.68

Balance sheet

Assets and debt

At each year end (and the latest half year), ₹ crore.

Equity, debt and assets

11,66234,199191

Mar 23

12,64237,009742

Mar 24

22,06840,2062,190

Mar 25

25,42848,8981,735

Mar 26

31,30451,5202,364

Sep 26

Shareholders' equity · YoY (vs a year ago)

—+8.4%+75%+15%—

Shareholders' equityBorrowingsCashLine = trend

₹ Cr	Mar 23	Mar 24	Mar 25	Mar 26	Sep 26
Shareholders' equity	11,662	12,642	22,068	25,428	31,304
Long-term borrowings	31,330	33,560	36,992	45,367	49,145
Short-term borrowings	2,868	3,449	3,214	3,531	2,375
Total borrowings	34,199	37,009	40,206	48,898	51,520
Current liabilities	7,017	7,963	9,923	15,446	16,560
Fixed assets (PPE)	30,295	36,437	37,049	44,227	43,782
Inventories	152	255	625	669	520
Trade receivables	1,438	1,565	4,218	5,734	7,441
Cash & equivalents	191	742	2,190	1,735	2,364
Current assets	6,943	8,047	13,587	17,826	20,731
Total assets	53,932	58,579	73,960	92,835	103,300
Debt / equity	2.93	2.93	1.82	1.92	1.65

Cash flow

Cash coming in and going out

For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.

Operating, investing and financing cash

4,097-3,948-235

FY22

3,777-4,699923

FY23

6,038-4,943-543

FY24

8,695-15,2287,975

FY25

10,997-14,0832,630

FY26

Operations · YoY (vs a year ago)

—-7.8%+60%+44%+26%

OperationsInvestingFinancingLine = trend

₹ Cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	4,097	3,777	6,038	8,695	10,997
Cash from investing	-3,948	-4,699	-4,943	-15,228	-14,083
Cash from financing	-235	923	-543	7,975	2,630
Spent on fixed assets	-4,191	-4,702	-5,430	-9,378	-14,432
Free cash flow	-94.3	-925	608	-683	-3,435
Net cash flow	-86.3	1.5	551	1,443	-456

Shareholding

Who holds the shares

Promoter and public holding at each quarter end, as filed with NSE.

Holding over time

74.9%Jun 24

69.6%Aug 24

69.9%Sep 24

69.9%Dec 24

69.9%Mar 25

71.2%Jun 25

71.2%Sep 25

71.2%Dec 25

72.7%Mar 26

74.7%Jun 26

73.4%Jul 26

73.4%Sep 26

Promoter & groupPublic

Latest (30 Sep 2026)

73.4%promoter

Promoter & group: 73.39%
Public (FIIs, mutual funds, retail…): 26.61%
Promoter change, last quarter: 0.00 pts

Dividends & news

Latest dividends and announcements

Dividends & corporate actions

Annual General MeetingEx 14-Jun-2024
Annual General MeetingEx 11-Jul-2023
Annual General MeetingEx 18-Jul-2022
Annual General MeetingEx 02-Jul-2021
Annual General MeetingEx 16-Jun-2020
Annual General MeetingEx 30-Jul-2019
Annual General MeetingEx 27-Jul-2018
Annual General MeetingEx 01-Aug-2017

Board meetings

ADANI ENERGY SOLUTIONS LIMITED has informed the Exchange about Board Meeting to be held on 22-Oct-2026 to inter-alia consider and approve the Unaudit…22-Oct-2026
the Unaudited financial results for the period ended September 30, 202622-Oct-2026
the financial results for the period ended Jun 30, 202621-Jul-2026
ADANI ENERGY SOLUTIONS LIMITED has informed the Exchange about Board Meeting to be held on 21-Jul-2026 to inter-alia consider and approve the Unaudit…21-Jul-2026
Fund raising.01-Jul-2026

Filings with NSE

Analysts/Institutional Investor Meet/Con. Call Updates11 Nov
Monitoring Agency Report6 Nov
Analysts/Institutional Investor Meet/Con. Call Updates30 Oct
Analysts/Institutional Investor Meet/Con. Call Updates26 Oct
General Updates23 Oct
Change in Management22 Oct
Press Release22 Oct

Latest news

About

About Adani Energy Solutions Limited

Adani Energy Solutions Ltd, formerly known as Adani Transmission Ltd, is an electric power transmission and distribution company headquartered in Ahmedabad. As of April 2025, the company operates a cumulative transmission network of 26,696 circuit kilometers and is one of the largest private sector power transmission companies operating in India.

From Wikipedia (CC BY-SA 4.0).

Company details

Company name: Adani Energy Solutions Limited
NSE symbol: ADANIENSOL
BSE scrip code: 539254
ISIN: INE931S01010
Listed on: NSE, BSE
Series: EQ (normal equity)
Listed on NSE since: 31 Jul 2015
Face value: ₹10 per share
Market lot: 1 share
Shares issued: 122.30 crore
Index: NIFTY 500
Sector (NSE): Power
Industry: Electric Utilities
Managing director / CEO: Kandarp Patel
Chair: Gautam Adani
Headquarters: Ahmedabad, Gujarat, India
Founded: 2013
Employees: 8,127
Financial year: April to March
Results basis: Consolidated
Website: adanienergysolutions.com

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Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.

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Adani Energy Solutions Limited

Today

Ratios

Quarterly results

Revenue and net profit

Profit & loss

Sales, operating profit and net profit

Balance sheet

Equity, debt and assets

Cash flow

Operating, investing and financing cash

Shareholding

Holding over time

Latest (30 Sep 2026)

Dividends & news

Dividends & corporate actions

Board meetings

Filings with NSE

Latest news

About

Company details

Peers