Adani Energy Solutions Achieves All-Time High EBITDA in FY26, Reports Growth in Transmission and Smart Metering
Adani Energy Solutions Limited (AESL), India's largest private transmission, distribution, and smart metering company, has announced its financial and operational performance for the quarter and year ended March 31, 2026. The company reported robust growth in its infrastructure segments, achieving an all-time high EBITDA of Rs 8,726 crore in FY26.AESL highlighted that its performance was underpinned by consistent operational execution and disciplined capital management. The company successfully commissioned five transmission projects during the year, including the Mumbai HVDC Project, cementing its position as a leader in complex infrastructure deployment.
Financial Highlights for FY26 and Q4FY26
The consolidated financial results demonstrate substantial year-over-year growth across key metrics.| Particulars | Q4 FY26 | Q4 FY25 | YoY% | FY26 | FY25 | YoY% |
|---|---|---|---|---|---|---|
| Total Income | 7,588 | 6,596 | 15.0% | 28,325 | 24,447 | 15.9% |
| Operational Revenue | 4,400 | 4,116 | 6.9% | 18,296 | 17,057 | 7.3% |
| Operating EBITDA | 1,981 | 1,757 | 12.7% | 7,407 | 6,571 | 12.7% |
| EBITDA | 2,372 | 2,262 | 4.9% | 8,726 | 7,746 | 12.7% |
| PAT | 723 | 714 | 1.3% | 2,393 | 922 | 159.6% |
| Adjusted PAT | 723 | 566* | 27.7% | 2,393 | 1,810#* | 32.3% |
Adjusted PAT for Q4FY26 was Rs 723 crore, showing a 27.7% YoY increase. For FY26, the adjusted PAT reached Rs 2,393 crore, reflecting a 32.3% YoY surge.
Operational Execution and Milestones
AESL noted that the company reached the landmark of deploying 1 crore smart meters, setting an industry standard for digital transformation in power distribution. The operational strength was further reflected in the commissioning of the Mumbai HVDC Project, which strengthens the city's transmission capacity by 1000 MW.During the year, AESL also commissioned four other transmission projects: North Karanpura Transmission (NKTL), Khavda Phase II Part-A, Khavda Pooling Station-1 (KPS-1), and Sangod transmission.
The company’s vast operational network is detailed in the following operational metrics:
| Particulars | Q4 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|
| Average Availability (%) (Transmission) | 99.8% | 99.7% | 99.7% | 99.7% |
| Total Transmission Network (ckm) | 27,949 | 26,696 | 27,949 | 26,696 |
| Distribution loss (%) (AEML) | 4.20% | 4.31% | 4.21% | 4.77% |
| Units sold (MU's) (AEML) | 2,508 | 2,413 | 10,584 | 10,558 |
| Meters Installed (in lakhs) (Smart Metering) | 22.1 | 15.9 | 82.3 | 29.9 |
| Cumulative Meters Installed (in lakhs) | 113.6 | 31.3 | 113.6 | 31.3 |
Growth Pipeline and Market Potential
The company maintains a substantial pipeline of future opportunities. The aggregate transmission under construction pipeline stands at Rs 71,779 crore, across 13 active projects. Furthermore, the smart meter order book remains robust at 24.6 million meters, offering a potential revenue of over Rs 29,519 crore. The near-term tendering opportunity in the transmission sector remains solid at approximately Rs 1.5 lakh crore.Credit Ratings and ESG Recognition
AESL’s strong financial profile was affirmed by the Japan Credit Rating Agency, which assigned the company a BBB+ (Stable) long-term foreign currency rating. Additionally, Adani Electricity Mumbai Limited (AEML) received rating upgrades to IND AAA (Stable) from India Ratings and CRISIL AAA (Stable) for its proposed NCDs.On the sustainability front, AESL received its inaugural ESG rating of CareEdge -ESG 1+ with a score of 86.8/100. The company was also recognized among India's Top 60 Most Sustainable Companies (IMSC 202425), ranking in the Top 30 overall.
ADANIENSOL Stock Price Movement
Adani Energy Solutions Limited shares settled today at ₹1361.25, shedding 0.16% as the stock closed post-market. Despite the slight dip, the equity reached its 52-week high of ₹1389.45 at one point, fueled by trading of over 4.05 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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