India · Delayed Price · Currency is INR Adani Energy Solutions Earnings Call Transcripts
Fiscal Year 2026
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Commissioned Mumbai HVDC, achieved record smart meter installations, and increased CapEx to INR 15,000 crore. EBITDA reached INR 8,726 crore, with guidance for tripling in 3–4 years as new projects are capitalized. Leverage and credit ratings remain strong.
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Strong quarterly results with 30% adjusted PAT growth and 43% rise in consolidated PAT, driven by new project commissioning and robust smart metering and C&I business expansion. CapEx guidance slightly revised due to project spillovers, but outlook remains positive with a strong project pipeline and stable leverage.
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Revenue grew 16% YoY to INR 13,793 crore and adjusted PAT rose 42% to INR 1,096 crore, driven by strong transmission, distribution, and smart metering performance. Major CapEx and EBITDA contributions are expected in H2, with robust project pipelines and market share gains.
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Q1 FY26 saw strong financial and operational results, with 28% revenue growth, 71% PAT increase, and major progress in transmission, smart metering, and new business segments. The company is on track for over 10 million smart meter installations and robust order book expansion.
Fiscal Year 2025
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FY 2025 saw record CapEx, 23% EBITDA growth, and a robust INR 60,000 crore order book, with strong execution in transmission, distribution, and smart metering. FY 2026 guidance targets further CapEx growth, major project commissioning, and continued market leadership.
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Q3 FY25 saw robust growth in revenue, EBITDA, and PAT, with a major expansion in the transmission CAPEX pipeline and strong progress in smart meter deployment. Net debt remains stable, all foreign currency debt is fully hedged, and future growth is supported by a healthy project pipeline and upcoming privatization opportunities.
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Q2 saw robust growth across all segments, with revenue up 23% and EBITDA up 31% year-over-year. CapEx guidance for FY25 is at least INR 10,000 crore, with strong project pipeline and smart meter rollout acceleration. Net debt/EBITDA held at 3.1x.
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Revenue grew 46% and adjusted EBITDA rose 28% year-over-year, driven by robust growth in transmission, distribution, and smart metering. The Dahanu power plant carve-out led to a one-time impairment, with proceeds used for debt reduction. Strong CapEx and order book support a 20% annual growth outlook.