Mumbai, July 24, 2025:
Adani Energy Solutions Ltd (AESL) reported a remarkable turnaround in its Q1 FY26 earnings, swinging from a major loss last year to a healthy consolidated net profit of ₹512 crore. The strong performance was driven by a surge in operational revenue and the absence of exceptional losses seen in the previous fiscal.
📊 Key Financial Highlights – Q1 FY26
- Net Profit: ₹512 crore (vs loss of ₹824 crore YoY); net profit attributable to owners reported as ₹539 crore.
- Revenue from Operations: ₹6,819 crore, up 27% YoY from ₹5,379 crore.
- Total Income: ₹7,025 crore, vs ₹5,490 crore in Q1 FY25.
- EBITDA: ₹2,315 crore (3% YoY increase).
- EBITDA Margin: Contracted to 34%, from 42% in Q1 FY25.
The turnaround in profitability is also attributed to the absence of a one-time exceptional loss of ₹1,506 crore in Q1 FY25, which heavily impacted last year’s bottom line.
🔧 Operational Highlights
- Smart Meter Projects: Operational GoLive for 4 projects.
- Transmission Network Length: Expanded by 26% YoY to 26,696 circuit km.
- Power Transformation Capacity: Surged 63% YoY to 93,236 MVA.
- Smart Meters Installed: 5.55 million (55.5 lakh) as of Q1 FY26; daily run rate of 25,000–27,000 units.
- Under-Construction Order Book: ₹59,304 crore.
- AEML Distribution Loss: Improved to 4.24%, down from 5.18% YoY.
- AEML Power Sold: Slight 0.8% decline to 2,939 MU.
- MUL Power Sold: Jumped 20% YoY to 271 MU.
📉 Stock Market Reaction
Despite the impressive earnings, AESL shares fell after the Q1 announcement:
- Stock dropped 1.9% to ₹847.55 after results.
- On NSE, shares closed at ₹848.20, down 1.73% from the previous session.
- Trading range remained tight ahead of earnings; stock is currently 36% below its August 2024 peak.
Although AESL trades above its long-term moving averages, it is still below key short-term levels, suggesting weakened momentum before the Q1 results.
🔮 Outlook: Capex and Growth Pipeline
With the monsoon nearing its end, AESL expects a significant ramp-up in capital expenditure (capex) and new project bids starting Q2 FY26. The company remains focused on expanding its transmission infrastructure and smart metering footprint across India.
