Adani Energy Solutions
Adani Energy Solutions
Power F&OKey Fundamentals
LargecapPower DistributionPowerTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company's median sales growth is 28.0% of last 10 years
Weaknesses
3- Stock is trading at 6.49 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 10.5% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAdani Energy Solutions Ltd has a market cap of ₹1,64,876 Cr and trades at a P/E of 55.1x with a P/B of 5.89x. The company has delivered strong compounded sales growth of 29% over 10 years and profit growth of 20% over the same period, but returns on equity have remained modest at around 10% over three years and the company pays no dividend.
- Strong long-term revenue growth with 10-year compounded sales CAGR of 29%, indicating sustained business expansion in India's power transmission sector
- TTM sales growth of 21% and TTM profit growth of 22% show continued momentum in recent quarters
- Compounded profit growth of 20% over 10 years demonstrates the company's ability to scale earnings alongside revenue over a long horizon
- 3-year compounded sales growth of 28% is well above the broader market average, reflecting robust order inflows and execution
- Stock has delivered a 1-year return of 71%, reflecting strong market sentiment and business momentum
- Median sales growth of 28% over the last 10 years provides a consistent track record of top-line expansion
- 5-year compounded sales growth of 23% shows resilience even through periods that included COVID-19 disruptions
- P/E ratio of 55.1x is significantly elevated relative to traditional utility and power sector peers, leaving limited margin of safety
- Stock trades at 5.89x book value (reported as high as 6.58x), which is steep for a capital-intensive power infrastructure business
- Zero dividend yield despite repeated profitability suggests shareholders receive no income return on their investment
- Return on equity of just 9% in the last year and a 3-year average of only 10% is modest given the premium valuation the market assigns
- 5-year stock CAGR of -5% indicates that longer-term shareholders have seen negative price returns, contrasting with the recent 1-year rally of 71%
- ROE has trended downward from 12% on a 10-year basis to 9% in the last year, suggesting declining capital efficiency
- 5-year compounded profit growth of only 13% lags the 10-year rate of 20%, pointing to a period of slower earnings expansion in the medium term
- Key financial metrics such as debt-to-equity, EPS, and 52-week high/low are unavailable, limiting full fundamental visibility for investors
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- GQG Partners sells 1.63% stake Sep 3
GQG Partners disposed 19.97 million shares via on-market transactions, reducing its aggregate holding to 3.46%. Large institutional selling can weigh on near-term sentiment.
- Rs 4700 Cr MSETCL order win Aug 26
Adani Energy Solutions secured a confirmed work order worth Rs 4,700 crore from MSETCL for Western Region network expansion, adding to its Rs 8,500 crore disclosed backlog.
- Top global ESG score at 90/100 Sep 1
S&P Global ranked AESL the highest ESG-scored utility globally with a score of 90/100 vs industry average of 41, with Environmental at 93, Social at 89, and Governance & Economic at 84. CSA score improved 17 points YoY.
- 2,500 MW renewable PPA signed Sep 9
Subsidiary PowerPulse Trading Solutions signed a 25-year PPA with MSEDCL for 2,500 MW of renewable round-the-clock power supply, providing long-term revenue visibility.
- USD 353M MSCI rebalancing inflow Aug 31
Adani Energy Solutions was set to receive USD 353 million (Rs 33.7 billion) inflow as part of MSCI's August index rebalancing, a passive-flow-driven event.
- Investor meets in London, Abu Dhabi Aug 21
AESL will host investor and analyst meetings in London and Abu Dhabi from Sep 7-9 as part of the Adani Annual Conference 2026, alongside an in-person Mumbai HVDC site visit on Aug 21.
TL;DR: Adani Energy Solutions is building a strong order pipeline with a Rs 4,700 crore MSETCL win and a 25-year, 2,500 MW renewable PPA, while its ESG score of 90/100 now leads global utilities. The main near-term concern is GQG Partners trimming its stake by 1.63%. Overall the trend is positive with growing transmission backlog, long-duration revenue contracts, and improving ESG credentials positioning the company well for sustained institutional interest.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,664 | 3,674 | 4,563 | 4,707 | 5,379 | 6,184 | 5,830 | 6,375 | 6,819 | 6,596 | 6,730 | 7,443 | 9,711 |
| Expenses | 2,395 | 2,324 | 3,092 | 3,141 | 3,728 | 4,469 | 4,170 | 4,335 | 5,009 | 4,640 | 4,734 | 5,298 | 6,703 |
| Operating Profit | 1,269 | 1,350 | 1,471 | 1,566 | 1,651 | 1,715 | 1,661 | 2,040 | 1,811 | 1,955 | 1,995 | 2,145 | 3,008 |
| OPM % | 35% | 37% | 32% | 33% | 31% | 28% | 28% | 32% | 27% | 30% | 30% | 29% | 31% |
| Other Income | 108 | 93 | 262 | 204 | -1,395 | 176 | 170 | 222 | 206 | 171 | 215 | 227 | 170 |
| Interest | 616 | 641 | 760 | 750 | 811 | 813 | 809 | 826 | 894 | 872 | 913 | 954 | 1,152 |
| Depreciation | 419 | 432 | 458 | 468 | 498 | 484 | 462 | 462 | 465 | 509 | 496 | 508 | 585 |
| PBT | 343 | 370 | 515 | 552 | -1,053 | 594 | 559 | 974 | 658 | 746 | 801 | 910 | 1,441 |
| Tax % | 47% | 23% | 32% | 31% | 13% | -30% | -12% | 27% | 18% | 25% | 28% | 21% | 14% |
| Net Profit | 182 | 284 | 348 | 381 | -1,191 | 773 | 625 | 714 | 539 | 557 | 574 | 723 | 1,237 |
| EPS in Rs | 1.57 | 2.47 | 2.91 | 3.24 | -7.39 | 5.62 | 4.68 | 5.39 | 4.27 | 4.44 | 4.6 | 5.69 | 9.57 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 131 | 2,194 | 2,876 | 3,944 | 7,305 | 11,416 | 9,926 | 11,258 | 13,293 | 16,607 | 23,767 | 27,588 | 30,480 |
| Expenses | 29 | 267 | 893 | 1,118 | 4,528 | 7,158 | 5,976 | 7,051 | 8,775 | 10,896 | 16,701 | 19,583 | 21,376 |
| Operating Profit | 101 | 1,927 | 1,983 | 2,826 | 2,778 | 4,258 | 3,950 | 4,206 | 4,518 | 5,711 | 7,067 | 8,005 | 9,104 |
| OPM % | 78% | 88% | 69% | 72% | 38% | 37% | 40% | 37% | 34% | 34% | 30% | 29% | 30% |
| Other Income | 3 | 70 | 22 | 111 | 336 | 261 | 1,115 | 1,286 | 1,583 | 611 | -827 | 721 | 783 |
| Interest | 73 | 957 | 904 | 886 | 1,391 | 2,238 | 2,117 | 2,365 | 2,781 | 2,767 | 3,259 | 3,633 | 3,891 |
| Depreciation | 37 | 560 | 569 | 579 | 882 | 1,174 | 1,329 | 1,427 | 1,608 | 1,776 | 1,906 | 1,978 | 2,099 |
| PBT | -5 | 480 | 532 | 1,472 | 840 | 1,107 | 1,620 | 1,700 | 1,712 | 1,780 | 1,075 | 3,115 | 3,898 |
| Tax % | 34% | 23% | 22% | 22% | 33% | 36% | 20% | 27% | 25% | 33% | 14% | 23% | — |
| Net Profit | -7 | 368 | 416 | 1,143 | 559 | 706 | 1,290 | 1,236 | 1,281 | 1,196 | 922 | 2,393 | 3,090 |
| EPS in Rs | -0.06 | 3.35 | 3.79 | 10.39 | 5.08 | 6.74 | 11.13 | 10.95 | 11.26 | 10.2 | 8.82 | 19 | 24.3 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,090 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,115 | 1,115 | 1,201 | 1,201 |
| Reserves | -7 | 1,572 | 1,847 | 4,957 | 6,943 | 7,399 | 7,819 | 8,813 | 10,634 | 11,526 | 20,867 | 24,226 |
| Borrowings | 9,701 | 8,585 | 8,975 | 10,428 | 20,137 | 24,246 | 27,095 | 29,902 | 34,270 | 37,070 | 39,926 | 49,176 |
| Other Liabilities | 708 | 489 | 890 | 781 | 4,379 | 6,966 | 7,219 | 7,650 | 7,913 | 8,827 | 11,908 | 18,153 |
| Total Liabilities | 11,492 | 11,746 | 12,811 | 17,265 | 32,558 | 39,711 | 43,234 | 47,464 | 53,932 | 58,538 | 73,902 | 92,757 |
| Fixed Assets | 10,573 | 10,060 | 9,853 | 9,291 | 24,412 | 24,924 | 26,987 | 30,272 | 32,645 | 38,920 | 39,555 | 46,804 |
| CWIP | 10 | 258 | 1,343 | 2,353 | 694 | 2,212 | 5,255 | 5,060 | 6,200 | 3,003 | 5,702 | 2,054 |
| Investments | 0 | 20 | 105 | 0 | 336 | 313 | 442 | 561 | 1,370 | 766 | 2,638 | 2,644 |
| Other Assets | 909 | 1,407 | 1,510 | 5,621 | 7,117 | 12,262 | 10,550 | 11,572 | 13,716 | 15,849 | 26,007 | 41,256 |
| Total Assets | 11,492 | 11,746 | 12,811 | 17,265 | 32,558 | 39,711 | 43,234 | 47,464 | 53,932 | 58,538 | 73,902 | 92,757 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -35 | 1,544 | 2,189 | 2,198 | 2,591 | 5,437 | 3,784 | 4,097 | 3,777 | 6,038 | 9,045 | 10,997 |
| Investing | -1,864 | -816 | -1,730 | -3,192 | -3,050 | -5,643 | -4,009 | -3,936 | -4,699 | -4,943 | -15,222 | -14,083 |
| Financing | 1,902 | -722 | -455 | 1,589 | 38 | 1,250 | -745 | -235 | 923 | -543 | 7,626 | 2,630 |
| Net Cash Flow | 3 | 6 | 4 | 596 | -421 | 1,045 | -969 | -75 | 2 | 551 | 1,448 | -456 |
| Free Cash Flow | -228 | 810 | 829 | 1,237 | 1,393 | 2,675 | -168 | -94 | -925 | 608 | -334 | -3,435 |
| CFO/OP | -20 | 84 | 119 | 89 | 100 | 132 | 102 | 104 | 89 | 111 | 131 | 143 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1,255 | 30 | 24 | 24 | 36 | 32 | 37 | 35 | 39 | 82 | 65 | 76 |
| Cash Conversion Cycle | 1,255 | 30 | 24 | 24 | 36 | 32 | 37 | 35 | 39 | 82 | 65 | 76 |
| Working Capital Days | -11,796 | -473 | -128 | -115 | -175 | 14 | -122 | -97 | -78 | -57 | -34 | -50 |
| ROCE % | 1% | 13% | 12% | 17% | 10% | 11% | 11% | 10% | 10% | 9% | 10% | 10% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Adani Energy Solutions insights
59 extracted metrics + investor summaries across FY14–FY27.
Documents
Frequently Asked Questions about Adani Energy Solutions
What does Adani Energy Solutions Ltd do?
Where is Adani Energy Solutions Ltd (ADANIENSOL) listed?
Which sector does Adani Energy Solutions Ltd belong to?
What is the market capitalisation of Adani Energy Solutions Ltd?
What is the PE ratio of Adani Energy Solutions Ltd?
What is the 52-week high and low of Adani Energy Solutions Ltd?
What is the Return on Equity (ROE) of Adani Energy Solutions Ltd?
Company Information
AESL, part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. AESL is India's largest private transmission company.[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/ADANIENSOL.md for Adani Energy Solutions Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.