Adani Energy Solutions Limited (“AESL”), part of the globally diversified Adani portfolio and the largest private transmission, distribution, smart metering and energy solutions platform company in India, today announced its financial and operational performance for the quarter ended June 30, 2026.
EBITDA rose 58% YoY to a record Rs 3,178 crore, supported by strong growth in the transmission, smart metering, a significant contribution from Energy Solutions Platform segment and steady performance in the distribution business.
Total income grew by strong 40% YoY to an all time high of Rs 9,852 crore, supported by stronger operating performance across the portfolio, contributions from recently commissioned transmission projects; the Energy Solutions Platform, the ongoing smart meter rollout, and higher Service Concession Arrangement (SCA) income reflecting increased capex execution
PAT increased by 130% YoY to Rs 1,237 crore in Q1FY27 from Rs 539 crore in Q1FY26
Cash profit of Rs 1,776 crore in Q1 FY27 grew by 70% YoY
Announced IntelliSmart acquisition, positioning it to become India’s largest smart metering platform with 47+ million meters
Capex Execution Performance:
The capex in Q1FY27 has increased by 1.57x to Rs 3,498 crore, as against Rs 2,224 crore in Q1FY26
AESL has completed 13.44 million cumulative smart meter installations, demonstrating strong operational efficiency and setting new execution benchmarks in the industry
Energy Solutions Platform:
A strong start by Energy Solutions Platform with EBITDA of INR 596 crore, driven by elongated summer led to higher demand of electricity
Growth Opportunity (Locked-in Growth):
Driven by projects on hand; the company’s aggregate transmission under construction pipeline stands at Rs 71,779 crore. The company’s smart meter order book remains at 24.6 million meters with a revenue potential of Rs 29,519 crore
AESL announced to acquire IntelliSmart, one of India’s largest smart meter players – on track to become India’s largest smart metering platform with a total portfolio of 47+ million meters
The near-term tendering pipeline in the transmission sector remains robust at ~Rs 1.1 lakh crores. Whereas the nationwide market opportunity for smart metering continues at 103 million meters
Capital Management:
ICRA reaffirmed AESL’s strong credit profile, reaffirming its long-term rating of ICRA AA+ (Stable) and assigning the highest short-term rating of ICRA A1+ to its facilities
Adani Electricity Mumbai Limited (AEML) has maintained all its credit ratings, including a stable outlook from Moody’s, consistent with the previous quarter’s performance
“AESL has delivered robust start to FY27, driven by strong financial performance and continued operational excellence across our core businesses. During the quarter, we further strengthened our growth platform through the proposed acquisition of IntelliSmart, a strategic step towards building India’s leading smart metering platform. Our Energy Solutions Platform has now gathered momentum, supported by significant renewable energy tie-ups and growing consumer stack across utilities, Commercial & Industrial and data centre segments. Backed by a strong project pipeline, disciplined execution and credit discipline, we remain well positioned to drive sustainable growth and create long-term stakeholder value” said Kandarp Patel, CEO, Adani Energy Solutions.
