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Adani Energy Solutions (ADANIENSOL) investor relations material
Adani Energy Solutions Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Commissioned three major transmission projects in H1 FY26, expanding operational capacity and order pipeline significantly.
Smart metering installations reached 73 lakh, targeting over 1 crore by year-end, with rapid segment growth.
Distribution business maintained industry-leading low loss levels and stable growth despite weather-related demand softness.
Cooling solutions business gained traction, deploying India's largest district cooling facility.
Board approved unaudited financial results for Q2 and H1 FY26, with no material misstatements identified.
Financial highlights
Total income for H1 FY26 rose to INR 13,793 crore, up 16% year-over-year; operational revenue at Rs 9,138 crore (+4% YoY).
Consolidated EBITDA increased 13% YoY to INR 4,144 crore; adjusted PAT for H1 FY26 was INR 1,096 crore, up 42% YoY.
Q2 FY26 revenue was ₹6,595.83 crore, with profit after tax at ₹557.10 crore.
Net worth as of 30 September 2025 stood at ₹23,054.75 crore; total borrowings at ₹45,373.65 crore.
Cash profit for H1 FY26 was Rs 2,212 crore (+14% YoY).
Outlook and guidance
CapEx for FY26 expected at INR 17,000–18,000 crore, contributing INR 2,800–3,000 crore annual EBITDA.
Transmission order pipeline at INR 60,000 crore, with annual bidding opportunities of INR 80,000–90,000 crore.
Smart metering addressable market estimated at 10 crore meters in the next year, with strong growth potential.
Leverage expected to decline to around 4x by year-end as earnings are second-half weighted.
Focus on expanding transmission, distribution, and smart meter businesses, with updated segment reporting.
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