Adani Energy Solutions Ltd (AESL) delivered a strong performance in the April–June quarter of FY26, recording a 71 per cent year-on-year rise in profit after tax (PAT), which climbed to Rs 539 crore.
A double-digit increase in EBITDA, coupled with lower depreciation and reduced tax outgo, delivered the impressive result compared to the same period last year.
The company’s EBITDA crossed the Rs 2,000 crore milestone for the first time, rising 14 per cent year-on-year to Rs 2,017 crore.
Consistent growth in core transmission and distribution operations, along with increased contributions from the smart metering segment, largely drove this boost.
Cash profit for the quarter stood at Rs 1,043 crore, a 15 per cent year-on-year increase.
AESL’s total income surged 28 per cent year-on-year to Rs 7,026 crore, backed by a stable operational base, improved Service Concession Arrangement (SCA) income from higher capital expenditure, and growth in the smart metering business.
Kandarp Patel, CEO of AESL, stated, “We are pleased to report another robust quarter. The effective on-ground execution and focused O&M enabling consistent progress on the project capex growth continues to be our key performance yardstick as we stay focused on unlocking the huge locked-in growth potential in our core business segments.”
During the quarter, the company commissioned three new transmission lines and led the industry with its highest daily smart meter installation rate.
“We expect to not only maintain the same momentum but further enhance our pursuit of the timely completion of our under-construction project pipeline. In terms of business outlook, as the sector offers immense opportunities backed by regulatory support and strong underlying factors like power demand and changing energy mix, AESL remains excited to tap the fresh opportunities falling within the risk-reward matrix and capital allocation policy of the company,” Patel asserted.
Transmission Projects and Industry-Leading Metering
During the quarter, AESL commissioned three new transmission projects: Khavda Phase II Part-A, Khavda Pooling Station-1 (KPS-1), and the Sangod transmission line. It also secured a new transmission project, the WRNES Talegaon line, which brings its under-construction order book to Rs 59,304 crore.
Capital expenditure in Q1 FY26 nearly doubled to Rs 2,224 crore, compared to Rs 1,313 crore in the corresponding quarter last year.
Patel added, “We anticipate a significant increase in AESL’s capex roll-out and new bid activity from Q2, as the monsoon subsides.”
A highlight for the quarter was AESL’s rapid smart meter deployment.
The company installed 24 lakh new smart meters during the period, reaching a total of 55.4 lakh meters, with a daily installation run rate of 25,000–27,000 units.
AESL plans to install 70 lakh smart meters in FY26, aiming to cross the 1 crore mark in cumulative installations by the end of the financial year.
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