Adani Energy Q4 profit rises 5.66% as revenue grows 15.9%

Adani Energy Solutions Limited (AESL) reported a 5.66% year-on-year increase in consolidated profit attributable to owners at Rs 684 crore for the quarter ended March 31, 2026, supported by strong revenue growth driven by project execution and commissioning.

Consolidated total income for Q4FY26 rose 15.9% to Rs 7,443 crore from Rs 6,422 crore in the same period last year. The increase was led by contributions from newly operational transmission assets and continued scale-up in the smart metering business.

Operating performance showed mixed trends. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs 2,372 crore in Q4FY26, up 4.9% from Rs 2,262 crore in Q4FY25. However, EBITDA margin declined due to changes in project mix and higher execution intensity. For the full year FY26, operational revenue grew 7.3% to Rs 18,296 crore, while adjusted Profit After Tax (PAT) increased 32% year-on-year to Rs 2,393 crore, supported by EBITDA growth and moderate depreciation.

In transmission, AESL commissioned its second High Voltage Direct Current (HVDC) project, the Mumbai HVDC link, adding 1,000 MW capacity to improve grid resilience. The company also secured the South Kalamb Substation (Part-A) project with an annual tariff of Rs 120 crore, taking its total transmission network to 27,949 circuit kilometers.

In the smart metering segment, AESL crossed 1 crore cumulative installations. The company has an order book of 2.46 crore meters with a revenue potential of Rs 29,519 crore. Its distribution arm, Adani Electricity Mumbai Limited (AEML), reported a 4% rise in units sold and a 10% year-on-year increase in Regulated Asset Base (RAB) to Rs 10,521 crore.

Capital expenditure for FY26 rose 1.24 times to Rs 14,232 crore, driven by investments across transmission, distribution, and smart metering. AESL’s under-construction transmission pipeline stands at about 7,926 circuit kilometers, with a transformation capacity of 73,775 MVA. The company also identified an addressable smart meter market of 103 million units in India.