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Adani Energy Solutions Limited (AESL) has reported a landmark performance in FY25, with profit after tax (PAT) doubling to Rs 2,427 crore, marking a 103 per cent year-on-year (YoY) surge.
The company also posted a robust 87 per cent PAT growth in the January–March quarter, standing at Rs 714 crore.
The total income for the fiscal reached an all-time high of Rs 24,447 crore, up 42 per cent YoY.
Strong contributions from newly commissioned transmission projects, higher energy sales in Mumbai and Mundra, and growth in the smart metering segment drove this increase.
“Out of Rs 24,447 crore, the Service Concession Arrangement (SCA) Income under IND-AS 115 in FY25 was Rs 5,064 crore against Rs 858 crore in FY24,” the company noted.
The PAT growth was driven by a combination of higher EBITDA, reversal of net deferred tax liabilities worth Rs 469 crore, mainly due to the divestment of the Dahanu plant by Adani Electricity Mumbai Limited (AEML), and regulatory income amounting to Rs 148 crore.
Commenting on the performance, Kandarp Patel, CEO of AESL, asserted, “AESL delivered strong operating and financial performance in FY25 backed by its distinguished ability to execute the complex projects, compete and outperform peers in the project bids and remain financially prudent at the same time. As we embark on the next fiscal year, the company remains focused on incremental project commissioning, significantly increasing the meter installation as well as achieving operating efficiencies in all lines of business.”
AESL stated that with a healthy order book of Rs 59,936 crore in transmission, increasing opportunities in power distribution, and expanding smart metering operations, it is positioning itself for continued growth.
Capital Allocation Strategy
Patel added that the integrated business model, coupled with sustained power demand in AESL’s operational areas, aligns well with its capital allocation strategy.
“We are confident that the growth opportunity visible across all our business segments will help us further consolidate our market position,” he further added.
EBITDA for the year climbed 23 per cent to a record Rs 7,746 crore.
This was underpinned by strong transmission revenue, consistent gains in the Mumbai utility’s EBITDA, a 13 per cent increase in regulated asset base, and improved treasury income.
Adjusted PAT for Q4, excluding one-time regulatory gains, stood at Rs 566 crore, reflecting a 48 per cent rise.
During the quarter, AESL added two new transmission projects – Navinal (Mundra) Phase I Part B1 and Mahan Transmission Ltd.
With this, the total project wins in FY25 stood at seven, valued collectively at Rs 43,990 crore.
Capital expenditure doubled in FY25 to Rs 11,444 crore, compared to Rs 5,613 crore in the previous year. Smart meter installations reached 31.3 lakh during the year.
Reaffirming its long-term vision, Patel concluded, “In terms of our ESG pursuit, we remain committed to sustainable business practices and continue to achieve feats.”
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