Adani Energy Solutions Limited (AESL) 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. The company is headquartered at Ahmedabad in Gujarat and serves as the transmission and distribution arm of the Adani Portfolio as fastest growing and the largest private transmission company in India.
AESL operates over 21,100 circuit kilometers of transmission lines across 16 states. The company also provides power distribution, smart metering, and cooling solutions, serving over 12 million consumers in Mumbai and Mundra SEZ. As of March 31, 2025, the company's transmission network length stands at 26,969 circuit kilometers backed by new order wins, highlighting strong bidding capabilities and robust underlying opportunities.
FY25 saw unprecedented transmission bidding activity of Rs 1,61,540 crore, with AESL's market share at 28%. The transmission under construction order book zoomed nearly 350 percent to Rs 59,396 crore, compared to Rs 17,000 crore at the beginning of the year, boosted by higher bidding activity. The company reported strong operational parameters during the quarter, with an average system availability of over 99.7%. Robust line availability resulted in an incentive income of Rs 34 crore in Q4 FY25.
The company has a power distribution network of 485 sq km, serving 12 Mn+ consumers in metropolitan Mumbai and the industrial hub of Mundra SEZ. It has applied for licenses in 3 new areas including Navi Mumbai and Kutch, near existing DISCOMs in Mumbai and Mundra SEZ, and western UP, spanning Ghaziabad to Jewar-Bulandshahr.
In Q4 FY25, the company installed 31 lakh smart meters, taking the customer base to 31.8 lakh and increased its power transformation capacity to 90,236 MVA (megavolt ampere).
For the January-March 2025 period, Adani Energy Solutions' consolidated net profit experienced a 79% year-on-year increase, reaching ₹647.15 crore, compared to ₹361.44 crore in the corresponding quarter of the previous year. This sharp rise underscores a strong finish to the fiscal year.
Revenue from operations also presented positive growth, climbing 35% year-on-year to ₹6,375 crore in the reporting quarter. This compares favourably to ₹4,720 crore in the same quarter of the prior year.
Adani Energy Solutions reported an EBITDA of ₹2,250 crore for the fourth quarter of FY25, an increase from ₹1,566 crore clocked in the previous year's corresponding period. This performance contributed to an improvement in margins, which stood at 35.31%.
FY25 PAT of Rs 2,427 crore increased by 103% YoY due to strong EBITDA growth and aided by a reversal of Rs 469 crore in net deferred tax liability primarily from divesting AEML's Dahanu plant and regulatory income of Rs 148 crore in transmission and distribution businesses.
Adani Energy Solutions Ltd has an operating revenue of Rs. 23,767.09 Cr. on a trailing 12-month basis. An annual revenue growth of 42% is outstanding, Pre-tax margin of 5% is okay, ROE of 4% is fair but needs improvement.
Adani Energy Solutions Ltd has a market capitalisation of Rs 1,02,241 crore as of June 2025. At the current price of Rs 906.6, ADANI ENERGY SOLUTIONS trades at a PE ratio of 121.57 while its PB ratio stands at 4.94.
Promoter holding in Adani Energy Solutions Ltd has gone up to 69.94 per cent as of Mar 2025 from 69.59 per cent as of Aug 2024. The exposure of Mutual Funds in Adani Energy Solutions went up by 22.35 per cent. Around 28 fund houses had exposure in Adani Energy Solutions.
The company has a high debt to equity of 168%, which can be a reason to worry. The company has low interest coverage ratio. However, AESL delivered strong operating and financial performance in FY25 backed by its distinguished ability to execute complex projects, compete and outperform peers in the project bids and remain financially prudent at the same time.
Two independent directors ceased roles on 30 June 2025 after tenure completion at Adani Energy Solutions. The company won INR 1660 Transmission Project in Maharashtra and continues to expand its transmission network across India.
The company is part of BSE 500 BSE 200 Nifty Next 50 Nifty 500 Nifty Energy Nifty 100 Nifty 200 Nifty Commodities Nifty High Beta 50 Nifty 100 Equal Weight BSE Allcap BSE LargeCap BSE Utilities BSE 250 LargeMidCap Index BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty100 ESG Nifty Total Market Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted, indicating its significant presence in major stock indices.
The company continues to strengthen its position in India's growing energy infrastructure sector, with robust order book growth and expanding transmission network supporting its long-term growth prospects.
