Adani Energy Solutions reported a steady rise in fourth-quarter earnings, with profit increasing 5.7% year-on-year to Rs 684 crore from Rs 647 crore, supported by robust operational performance and higher revenues. The company's revenue for the quarter climbed 16.8% to Rs 7,443 crore, compared with Rs 6,375 crore in the same period last year.
For the March quarter, total income stood at Rs 7,588 crore, up 15% year-on-year, while Ebitda rose 4.9% to Rs 2,372 crore. On an adjusted basis, profit grew sharply by 27.7% year-on-year to Rs 723 crore, reflecting improved operating leverage and profitability.
The company capped fiscal 2026 with a strong financial and operational performance, achieving its highest-ever annual Ebitda of Rs 8,726 crore, up 13% year-on-year. Total income rose 15.9% to a record Rs 28,325 crore, driven by improved execution and higher Service Concession Arrangement (SCA) income, indicating a pick-up in capital expenditure activity.
Annual profit surged to Rs 2,393 crore. While the headline growth reflects a 160% rise over fiscal 2025 due to one-off adjustments, the adjusted Profit still posted a healthy 32% increase year-on-year, supported by double-digit Ebitda growth and stable depreciation.
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A key highlight of the year was AESL's strong execution track record. The company commissioned multiple large-scale projects, including Mumbai's advanced Voltage Source Converter (VSC)-based HVDC project, recognised as the world's first compact HVDC system. This project is expected to enhance Mumbai's transmission capacity by 1,000 MW, strengthening grid reliability and supporting the city's growing power demand.
The transmission business maintained strong operational efficiency, with system availability exceeding 99.7%, generating incentive income of Rs 136 crore in FY26.
AESL's capital expenditure rose 1.24 times to Rs 14,232 crore in fiscal 2026, reflecting aggressive expansion across transmission and smart metering segments. The company's growth visibility remains strong, with a transmission project pipeline under construction worth Rs 71,779 crore and a smart meter order book of 2.46 crore units, translating into a revenue potential of Rs 29,519 crore.
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