'Buy' Adani Energy Shares Maintains ICICI Securities Post Q2 Results, Sees 22% Upside — Check Target Price

Adani Energy Solutions' reported revenue for the quarter grew 2% YoY (Rs 63 billion). However, operating revenue (adjusted for construction revenues booked under Service Concession Accounting) grew 8% YoY to Rs 45 billion..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Adani Energy Solutions Ltd. reported Q2 FY26 revenue of Rs 63 billion (+2% YoY). Ebitda came in at Rs 19.5 billion (+14% YoY) and adjusted profit was Rs 5.3 billion (+20% YoY). However, the underlying operating revenue/Ebitda came in at Rs 45 billion/Rs 18 billion, up 8%/10% YoY, owing to additional revenue from new transmission assets and increase in installed base of smart meters. Distribution revenue was impacted by extended monsoons in Mumbai and divestment of Dahanu plant in Q2 FY25. Adani Energy Solutions’ execution pipeline remains strong; transmission execution pipeline at Rs 0.6 trillion (3.5x YoY). The transmission bidding pipeline is estimated at Rs 1 trillion. This excludes the Khavda-Olpad HVDC project where AESL is L1 (estimated cost of Rs 180–200 billion). It has orders of 24.6 million smart meters with Ebitda potential of Rs 25.5 billion; it has installed 1.8 million meters in Q2 (installed base at 7.4 million). Retain Buy with an SoTP-based target price of Rs 1,127..Click on the attachment to read the full report:.TVS Motor Gets 'Buy' Upgrade From Motilal Oswal Post Strong Q2 Results — Check New Target Price.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

'Buy' Adani Energy Shares Maintains ICICI Securities Post Q2 Results, Sees 22% Upside — Check Target Price

Adani Energy Solutions' earnings increased on account of new assets and revenue was cut due to expectations of lower deprecation in older cost-plus assets.

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