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Adani Energy Solutions Ltd Q2 FY27 results are out (Jul–Sep 2026) →Revenue ₹10,076 Cr +52.8% YoYSee revenue, profit and what management said. You are viewing Q1 FY26.
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Adani Energy Solutions Ltd

Q1 FY26Power

Adani Energy Solutions Q1 FY26 earnings call: Revenue & Margins

Q1 FY26 earnings call: what management said on revenue, margins and capex.

Revenue
₹6,819Cr
+26.8% YoY
+7% QoQ
Net profit
₹539Cr
Turned profitable YoY
−24.5% QoQ
Margin
27%
−4 pp YoY
−5 pp QoQ
Price₹1,542
Market cap₹2.0L Cr
P/E67.7

The short version

The company targets sustaining a capitalization run rate of around INR 15,000-16,000 crores annually, aligned with a project pipeline worth INR 60,000 crores over the next 3-4 years. Smart Meter Business: Revenue expected to grow as smart meter installations approach 1 crore, with per meter per month revenue around INR 100; currently nascent but expected to be reported as a separate segment in future.

From Adani Energy Solutions Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • The company targets sustaining a capitalization run rate of around INR 15,000-16,000 crores annually, aligned with a project pipeline worth INR 60,000 crores over the next 3-4 years. (Page 16)
  • Smart meter business is expected to grow significantly, aiming to complete over 1 crore installations in FY '25, with further expansion as more states initiate smart metering tenders. (Pages 6, 9)
  • The Commercial & Industrial (C&I) energy solutions segment is planned to scale up significantly with a target of contracting about 7,000 MW over the next 5 years, leveraging regulatory improvements and differentiated service offerings. (Pages 10-12)

2 more points from Adani Energy Solutions Ltd's call on revenue

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Profitability & Margins

Smart Meter Business: Revenue expected to grow as smart meter installations approach 1 crore, with per…

Locked: what Adani Energy Solutions Ltd said on margins

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Capital Expenditure Plans

  • Capitalization run rate targeted around INR 15,000-16,000 crores annually, with INR 60,000 crores of projects to be completed over next 3-4 years.
  • Mumbai HVDC project valued at INR 7,000 crores; Phase 2 estimated around INR 10,000 crores considering current market.
  • INR 90,000 crores transmission bid pipeline expected to be bid out within approximately one year, including two major HVDC projects: Rajasthan (~INR 25,000 crores) and Khavda-Olpad (~INR 20,000 crores).
  • Transmission capex guidance for FY ‘26: INR 12,000 to 13,000 crores, on track despite monsoon impact.
  • Ongoing smart meter business expansion, targeting scale-up to 6 crore meters in 1.5 years.

2 more points from Adani Energy Solutions Ltd's call on capex

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Top-ranked in Power

Ranked on what management guided this quarter

Guidance-ranked
1Insolation Ener
Rev 1Mar 1
2ACME Solar Holdings
Rev 1Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The discussions primarily focus on:

Locked: what Adani Energy Solutions Ltd said on fundraising

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Order Book & Pipeline

  • Adani Energy Solutions has a project pipeline of close to INR 60,000 crores to be completed in the next 3 to 4 years.
  • Transmission opportunity worth INR 90,000 crores, with ~90% from interstate projects; states like Maharashtra, Karnataka, and Rajasthan are actively auctioning projects.
  • Smart meter pending orders: About 12 crore meters are yet to be bid out, with major upcoming opportunities in Madhya Pradesh, Telangana, Karnataka, and Tamil Nadu.
  • Current smart meter execution: Target to complete 1 crore plus meters this year and balance in the next 1.5 years.
  • Recent projects progressing well with timely commissioning; exceptions include NKTL and WRSR projects nearing commissioning.

2 more points from Adani Energy Solutions Ltd's call on order book

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Adani Energy Solutions Ltd — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Adani Energy Solutions Ltd Q1 FY26 results — key figures

Adani Energy Solutions Ltd Q1 FY26 reported results vs Q1 FY25, ₹ crore
₹ CrQ1 FY26Q1 FY25YoYQ4 FY25QoQ
Revenue6,8195,379+26.8%6,375+7%
Operating profit (EBITDA)1,8111,651+9.7%2,040-11.2%
Operating margin27%31%-4 pp32%-5 pp
Profit before tax658-1,053—974-32.4%
Net profit (PAT)539-1,191—714-24.5%
EPS (₹)4.27-7.39—5.39-20.8%

Source: reported quarterly figures (Screener), ₹ crore.

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹10.1K Cr, net profit ₹1.4K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Adani Energy Sol's management said in earlier quarters

Earlier calls (7)

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Frequently Asked Questions

What were Adani Energy Solutions Ltd Q1 FY26 results?

The company targets sustaining a capitalization run rate of around INR 15,000-16,000 crores annually, aligned with a project pipeline worth INR 60,000 crores over the next 3-4 years. Smart Meter Business: Revenue expected to grow as smart meter installations approach 1 crore, with per meter per month revenue around INR 100; currently nascent but expected to be reported as a separate segment in future.

What is Adani Energy Solutions Ltd share price analysis?

Adani Energy Solutions Ltd currently shows a neutral. The stock trades at a P/E of 67.7 with a market cap of ₹197,629 Cr. Investors should review the full earnings analysis for detailed insights.

Is Adani Energy Solutions Ltd planning capital expenditure?

Capitalization run rate targeted around INR 15,000-16,000 crores annually, with INR 60,000 crores of projects to be completed over next 3-4 years.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.