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Adani Energy Solutions (ADANIENSOL) investor relations material
Adani Energy Solutions Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong quarterly and nine-month performance, with adjusted PAT growth of 30% year-over-year and robust operational metrics, including network availability over 99.7% and T&D losses at 4.03%.
Commissioned multiple major transmission projects, including Khavda Phase II Part-A and NKTL, and are on track to commission additional projects, such as a landmark HVDC project.
Smart metering installations reached 92 lakh, with a target to surpass 1 crore by year-end, and a current order book of 2.46 crore meters.
Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, with no material misstatements found by statutory auditors.
Financial implications of new Indian labour codes effective November 2025 have been recognized in the current quarter.
Financial highlights
Total income for 9MFY26 grew 16% year-over-year to ₹20,737 crore; consolidated EBITDA reached ₹2,210 crore in Q3FY26, up 21% year-over-year.
Consolidated PAT for 9MFY26 rose 34% to ₹1,670 crore; Q3FY26 PAT at ₹574.88 crore.
Collection efficiency exceeded 100%, with over 85% of payments via e-payments.
Capex for 9MFY26 surged 1.24x year-over-year to ₹9,294 crore, with significant investments in smart metering.
Exceptional loss of ₹1,506.02 crore in the previous year due to divestment of Dahanu Thermal Power Plant.
Outlook and guidance
Expect to commission seven projects in the next financial year, adding INR 24,000-25,000 crore to gross block.
Anticipate INR 80,000 crore of transmission bidding opportunities in the next 12-15 months and a robust smart metering pipeline, with 100 million meters yet to be bid out.
CapEx for the next five years projected at INR 18,000-20,000 crore annually.
Regulatory asset charge recoveries and new labour codes are expected to impact future quarters.
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