Adani Energy Solution Ltd

NSE: ADANIENSOL · Power · sector

₹1,258.00NSE close 2026-10-26

Key numbers

Market cap₹1,51,121 cr

Price₹1,258.00

52w high / low₹1,789 / ₹803

P/E46.0xSector median 17.0x

P/B6.0xSector median 1.7x

Book value₹211.7

Dividend yield–Sector median 7.28%

ROE12.3%Sector median 10.5%

ROCE11.3%Sector median 10.9%

OPM32.2%Sector median 27.2%

Debt / equity1.92xSector median 1.22x

EV/EBITDA19.8xSector median 11.1x

Interest cover2.1x

Current ratio1.15x

Sales growth 3y+27.6%Sector median +14.6%

Profit growth 3y+22.0%Sector median +10.8%

PEG1.51x

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 5 companies in Power (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹6,184 cr vs borrowings ₹48,898 cr (FY26): borrowings are higher by ₹42,715 cr.
Borrowings rose in each of the last 3 years (₹34,199 cr → ₹48,898 cr).
Operating profit covered interest 2.1x in the last 12 months.
No promoter shares are pledged.
Promoter holding rose by 2.20 percentage points in a year, to 73.39% (2026-09-30).
Operating cash flow was below net profit in 0 of the last 5 years.
Revenue was higher than a year earlier in 4 of the last 4 quarters.
Other income was 23% of net profit in the last 12 months.
Debtor days went from 34 (FY24) to 76 (FY26).
No dividend in the last 5 financial years.
Price ₹1,258.00 on 2026-10-26: -29.7% from the 52-week high, +56.6% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹1,724.40 · low ₹654.05

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	6,184	5,830	6,375	6,819	6,596	6,730	7,443	9,711
EBITDA	1,787	2,125	2,251	2,315	2,289	2,336	2,145	3,037
OPM %	28.9%	36.5%	35.3%	33.9%	34.7%	34.7%	28.8%	31.3%
Other income	176	170	222	206	171	215	145	141
Net profit	675	562	647	512	534	552	684	1,149
EPS (₹)	6.09	4.85	6.57	6.88	6.19	6.34	5.27	9.57
Revenue YoY					+6.7%	+15.4%	+16.8%	+42.4%
Profit YoY					-20.9%	-1.7%	+5.7%	+124.2%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	11,258	13,293	16,607	23,767	27,588	30,480
EBITDA	4,889	5,553	5,711	6,901	9,084	9,807
Net profit	1,205	1,256	1,137	1,060	2,283	2,919
EPS (₹)	8.90	11.10	12.87	16.14	24.68	27.37
Revenue growth		+18.1%	+24.9%	+43.1%	+16.1%	+20.9%
Profit growth		+4.3%	-9.5%	-6.8%	+115.3%	+21.8%
Dividend / share (₹)	–	–	–	–	–

Compounded growth	3 years	5 years	Last 12 months
Sales	+27.6%	+22.7%	+20.9%
Net profit	+22.0%	+13.3%	+21.8%
EPS	+30.5%	+22.3%	–
Share price	–	+14.1% (2y)	+41.4%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	11,662	12,642	22,068	25,428
Borrowings	–	34,199	37,009	40,206	48,898
Cash & equivalents	–	2,761	2,671	5,908	6,184
Total assets	–	53,932	58,579	73,960	92,835
Fixed assets	–	30,295	36,437	37,049	44,227
Capital work in progress	–	6,200	3,003	5,695	2,054
Investments	–	313	324	7,112	407
Receivables	–	1,438	1,565	4,218	5,734
Inventory	–	152	255	625	669
Payables	–	1,800	1,722	2,956	4,994

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	4,097	3,777	6,038	8,695	10,997
Cash from investing	-3,948	-4,699	-4,943	-15,228	-14,083
Cash from financing	-235	923	-543	7,975	2,630
Capex	4,191	4,702	5,430	9,378	14,432
Free cash flow	-94	-925	608	-683	-3,435

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	10.8%	9.0%	4.8%	9.0%
ROCE %	–	9.8%	9.2%	9.1%	10.6%
Debtor days	–	39	34	65	76
Inventory days	–	9	14	33	33
Payable days	–	110	97	155	248
Cash conversion cycle (days)	–	-62	-49	-57	-139
Working capital days	–	-2	2	56	31

Shareholding

Holder	% (2026-09-30)
Promoters	73.39%
FIIs	9.56%
DIIs	13.61%
of which Mutual funds	9.38%
of which Insurance	3.71%
Government	0.00%
Public (non-institutions)	3.44%

Quarter	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Jul 2026	Sep 2026
Promoters %	69.94%	71.19%	71.19%	71.19%	72.73%	74.71%	73.39%	73.39%

Promoter group	%
Gautambhai Shantilal Adani and Rajeshbhai Shantilal Adani (on behalf of S.B. Adani Family Trust)	49.20%
Adani Tradeline Private Limited	7.98%
Gelt Bery Trade and Investment Limited	5.30%
Afro Asia Trade And Investments Limited	2.47%
Worldwide Emerging Market Holding Limited	2.47%
Emerging Market Investment DMCC	2.21%
Adani Infra (India) Limited	1.51%
Ardour Investment Holding Ltd	1.23%
Infinite Trade and Investment Limited	0.72%
Flourishing Trade And Investment Limited	0.30%
Gautambhai Shantilal Adani	0.00%
Rajeshbhai Shantilal Adani	0.00%
Pranav Vinod Adani	0.00%
Karan Gautam Adani	0.00%
Sagar Rajesh Adani	0.00%

Public holders above 1%	%
Sbi Aggressive Hybrid Fund	4.01%
Life Insurance Corporation Of India	3.13%
Goldman Sachs Trust Ii - Goldman Sachs Gqg Partners International Opportunities Fund	1.71%

3,82,685 shareholders. Pledged: 0.00% of promoter shares.

Peers in Power

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
POWERGRID	₹2,29,725 cr	14.4x	2.3x	16.5%	10.6%	81.6%	+0.8%	3.64%
ADANIENSOL	₹1,51,121 cr	46.0x	6.0x	12.3%	11.3%	32.2%	+27.6%	–
TRIVENIPT	₹4,802 cr	–	–	–	–	–	–	–
PTC	₹3,987 cr	7.8x	0.7x	8.6%	13.7%	4.2%	+1.6%	10.91%
AMPVOLTS	₹58 cr	19.5x	1.1x	6.0%	7.0%	22.2%	+782.8%	–

All 5 companies in Power →

Business segments (FY26)

Segment	Revenue	Share	EBIT	Margin
Distribution	₹12,450 cr	50.1%	₹1,239 cr	9.9%
Transmission	₹9,824 cr	39.5%	₹3,965 cr	40.4%
Trading	₹1,091 cr	4.4%	₹84 cr	7.7%
Smart Meter	₹828 cr	3.3%	₹368 cr	44.4%
Others	₹648 cr	2.6%	₹132 cr	20.4%

Dividends & corporate actions

Ex-date	Action	Detail
2024-06-14	Other	Annual General Meeting
2023-07-11	Other	Annual General Meeting
2022-07-18	Other	Annual General Meeting
2021-07-02	Other	Annual General Meeting
2020-06-16	Other	Annual General Meeting
2019-07-30	Other	Annual General Meeting
2018-07-27	Other	Annual General Meeting
2017-08-01	Other	Annual General Meeting
2016-08-01	Other	Annual General Meeting

Documents

Links go to the original files on the exchange website.

About the company


Sector	Utilities
Industry	Power
Sub-industry	Power Distribution
Symbol	ADANIENSOL
BSE code	539254
ISIN	INE931S01010
Face value	₹10.0
Incorporated	–
Website	–
Plants (India / abroad)	–

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.