Adani Energy Solutions Ltd.
ADANIENSOLUtilities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 10 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| COVER_LETTER | 20220511 | 2022-03-31 | no | |
| COVER_LETTER | 20220804 | 2022-06-30 | no | |
| COVER_LETTER | 20220808 | 2022-06-30 | no | |
| COVER_LETTER | 20221108 | 2022-09-30 | no | |
| COVER_LETTER | 20230207 | 2022-12-31 | no | |
| COVER_LETTER | 20230210 | 2022-12-31 | no | |
| COVER_LETTER | 20230601 | 2023-03-31 | no | |
| COVER_LETTER | 20230801 | 2023-06-30 | no | |
| TRANSCRIPT | 20231109 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240201 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240506 | 2024-03-31 | yes | |
| COVER_LETTER | 20240731 | 2024-06-30 | no | |
| TRANSCRIPT | 20241025 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250429 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250728 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251031 | 2025-09-30 | yes | |
| DUPLICATE | 20251031 | 2025-09-30 | no | |
| TRANSCRIPT | 20260127 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260430 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260728 | 2026-06-30 | yes |
ADANIENSOL
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,340.50 |
| 52-week range | 812.7 – 1741.6 |
| Return 1M | -15.93% |
| Return 3M | -11.1% |
| Return 1Y | 50.79% |
| Return 3Y | 61.43% |
| Return 5Y | -13.08% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 9,711.00 |
| Other income | 141.00 |
| Total income | 9,852.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 67.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 228.00 |
| Finance costs | 1,152.00 |
Ownership — 2026-07-30, and the change from 2026-06-30
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.73 | -0.01 |
| institutions foreign | 0.10 | 0.00 |
| institutions domestic | 0.13 | 0.01 |
| mutual funds | 0.09 | 0.01 |
| public | 0.27 | 0.01 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2024-06-30 | 9 |
| DUPLICATE | 2025-09-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 10 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,251.00 | 3,552.00 | 3,358.00 | 3,664.00 | 3,674.00 | 4,563.00 | 4,707.00 | 5,379.00 | 6,184.00 | 5,830.00 | 6,375.00 | 6,819.00 | 6,596.00 | 6,730.00 | 7,443.00 | 9,711.00 |
| Other income | 125.00 | 168.00 | 137.00 | 108.00 | 93.00 | 262.00 | 148.00 | 111.00 | 176.00 | 170.00 | 222.00 | 206.00 | 171.00 | 215.00 | 145.00 | 141.00 |
| Total income | 3,377.00 | 3,719.00 | 3,495.00 | 3,772.00 | 3,766.00 | 4,824.00 | 4,855.00 | 5,490.00 | 6,360.00 | 6,000.00 | 6,596.00 | 7,025.00 | 6,767.00 | 6,944.00 | 7,588.00 | 9,852.00 |
| Cost of materials consumed | 1,239.00 | 1,183.00 | 1,035.00 | 1,460.00 | 1,264.00 | 1,468.00 | 1,268.00 | 1,638.00 | 1,761.00 | 1,476.00 | 1,333.00 | 1,724.00 | 1,601.00 | 1,508.00 | 1,516.00 | 0.00 |
| Purchases of stock-in-trade | 219.00 | 274.00 | 178.00 | 0.00 | 177.00 | 737.00 | 115.00 | 166.00 | 490.00 | 344.00 | 366.00 | 192.00 | 189.00 | 231.00 | 392.00 | 67.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 232.00 | 226.00 | 305.00 | 243.00 | 270.00 | 259.00 | 179.00 | 276.00 | 293.00 | 230.00 | 234.00 | 231.00 | 236.00 | 318.00 | 308.00 | 228.00 |
| Finance costs | 714.00 | 697.00 | 630.00 | 616.00 | 641.00 | 760.00 | 750.00 | 811.00 | 813.00 | 809.00 | 826.00 | 894.00 | 872.00 | 913.00 | 954.00 | 1,152.00 |
| Depreciation and amortisation | 398.00 | 410.00 | 416.00 | 419.00 | 432.00 | 458.00 | 468.00 | 498.00 | 484.00 | 462.00 | 462.00 | 465.00 | 509.00 | 496.00 | 508.00 | 585.00 |
| Other expenses | 397.00 | 391.00 | 636.00 | 388.00 | 458.00 | 571.00 | 1,579.00 | 1,054.00 | 1,853.00 | 1,656.00 | 2,191.00 | 2,358.00 | 2,281.00 | 2,338.00 | 3,083.00 | 6,407.00 |
| Total expenses | 3,200.00 | 3,182.00 | 3,200.00 | 3,125.00 | 3,242.00 | 4,253.00 | 4,359.00 | 4,443.00 | 5,694.00 | 4,976.00 | 5,412.00 | 5,864.00 | 5,688.00 | 5,803.00 | 6,760.00 | 8,440.00 |
| Profit before exceptional items and tax | 177.00 | 538.00 | 294.00 | 648.00 | 524.00 | 571.00 | 496.00 | 1,047.00 | 666.00 | 1,024.00 | 1,185.00 | 1,162.00 | 1,079.00 | 1,141.00 | 828.00 | 1,412.00 |
| Exceptional items | -0.00 | -0.00 | 0.00 | -1.00 | -154.00 | 0.00 | 0.00 | -1,507.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 29.00 |
| Profit before tax | 177.00 | 538.00 | 294.00 | 647.00 | 370.00 | 571.00 | 496.00 | -460.00 | 666.00 | 1,024.00 | 1,185.00 | 1,162.00 | 1,079.00 | 1,141.00 | 828.00 | 1,441.00 |
| Current tax | 38.00 | 88.00 | 95.00 | 113.00 | 45.00 | 73.00 | 68.00 | 43.00 | 52.00 | 22.00 | 77.00 | 80.00 | 87.00 | 73.00 | 153.00 | 250.00 |
| Deferred tax | 18.00 | 34.00 | 128.00 | 48.00 | 40.00 | 93.00 | 101.00 | 93.00 | -231.00 | -88.00 | 210.00 | 39.00 | 102.00 | 154.00 | 34.00 | -95.00 |
| Tax expense | 55.00 | 122.00 | 224.00 | 160.00 | 85.00 | 166.00 | 169.00 | 137.00 | -179.00 | -66.00 | 287.00 | 119.00 | 189.00 | 227.00 | 187.00 | 156.00 |
| Profit for the period | 194.00 | 478.00 | 440.00 | 182.00 | 284.00 | 348.00 | 381.00 | -1,191.00 | 773.00 | 625.00 | 687.00 | 539.00 | 557.00 | 574.00 | 723.00 | 1,237.00 |
| Profit attributable to owners | 206.00 | 475.00 | 389.00 | 175.00 | 276.00 | 325.00 | 361.00 | -824.00 | 675.00 | 562.00 | 647.00 | 512.00 | 534.00 | 552.00 | 684.00 | 1,149.00 |
| Profit attributable to non-controlling interests | -12.00 | 3.00 | 50.00 | 7.00 | 8.00 | 23.00 | 20.00 | -367.00 | 98.00 | 64.00 | 67.00 | 26.00 | 23.00 | 22.00 | 39.00 | 88.00 |
| Other comprehensive income | -210.00 | -142.00 | 343.00 | -371.00 | 31.00 | 197.00 | -140.00 | 73.00 | 279.00 | -86.00 | -79.00 | 61.00 | 233.00 | 172.00 | 656.00 | -177.00 |
| Total comprehensive income | -16.00 | 336.00 | 782.00 | -189.00 | 316.00 | 546.00 | 241.00 | -1,118.00 | 1,053.00 | 539.00 | 607.00 | 600.00 | 790.00 | 746.00 | 1,379.00 | 1,060.00 |
| Earnings per share, basic | 1.45 | 3.92 | 3.49 | 1.57 | 2.47 | 2.92 | 2.94 | -7.39 | 6.09 | 4.85 | 6.57 | 6.88 | 6.19 | 6.34 | 5.27 | 9.57 |
| Earnings per share, diluted | 1.45 | 3.92 | 3.49 | 1.57 | 2.47 | 2.92 | 2.94 | -7.39 | 6.09 | 0.00 | 6.57 | 6.88 | 6.19 | 6.34 | 5.27 | 9.57 |
Annual results, as filed
| Line | 2018-03-31 | 2019-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,944.00 | 7,305.00 | 9,926.00 | 11,258.00 | 13,293.00 | 16,607.00 | 23,767.00 | 27,588.00 |
| Other income | 111.00 | 255.00 | 533.00 | 604.00 | 548.00 | 611.00 | 679.00 | 737.00 |
| Total income | 4,055.00 | 7,561.00 | 10,459.00 | 11,861.00 | 13,840.00 | 17,218.00 | 24,447.00 | 28,325.00 |
| Cost of materials consumed | 0.00 | 1,649.00 | 2,887.00 | 2,779.00 | 5,224.00 | 5,459.00 | 5,584.00 | 6,348.00 |
| Purchases of stock-in-trade | 816.00 | 839.00 | 756.00 | 821.00 | 755.00 | 1,029.00 | 1,366.00 | 1,004.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 42.00 | 587.00 | 931.00 | 885.00 | 987.00 | 952.00 | 1,033.00 | 1,093.00 |
| Finance costs | 886.00 | 1,391.00 | 2,117.00 | 2,365.00 | 2,781.00 | 2,767.00 | 3,259.00 | 3,633.00 |
| Depreciation and amortisation | 579.00 | 882.00 | 1,329.00 | 1,427.00 | 1,608.00 | 1,776.00 | 1,906.00 | 1,978.00 |
| Other expenses | 261.00 | 1,469.00 | 1,402.00 | 2,566.00 | 1,809.00 | 2,996.00 | 7,377.00 | 10,059.00 |
| Total expenses | 2,584.00 | 6,816.00 | 9,422.00 | 10,843.00 | 13,164.00 | 14,979.00 | 20,525.00 | 24,115.00 |
| Profit before exceptional items and tax | 1,472.00 | 744.00 | 1,037.00 | 1,018.00 | 676.00 | 2,240.00 | 3,922.00 | 4,210.00 |
| Exceptional items | 0.00 | 96.00 | 583.00 | 682.00 | 1,036.00 | -460.00 | -1,506.00 | 0.00 |
| Profit before tax | 1,472.00 | 840.00 | 1,620.00 | 1,700.00 | 1,712.00 | 1,780.00 | 2,416.00 | 4,210.00 |
| Current tax | 328.00 | 281.00 | 187.00 | 244.00 | 261.00 | 299.00 | 195.00 | 393.00 |
| Deferred tax | 1.00 | 0.00 | 237.00 | 192.00 | 174.00 | 282.00 | -16.00 | 329.00 |
| Tax expense | 329.00 | 281.00 | 424.00 | 436.00 | 435.00 | 580.00 | 179.00 | 722.00 |
| Profit for the period | 1,143.00 | 559.00 | 1,290.00 | 1,947.00 | 2,316.00 | 1,196.00 | 922.00 | 2,393.00 |
| Profit attributable to owners | 1,143.00 | 0.00 | 1,224.00 | 1,205.00 | 1,256.00 | 1,137.00 | 1,060.00 | 2,283.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 66.00 | 31.00 | 24.00 | 58.00 | -138.00 | 110.00 |
| Other comprehensive income | -26.00 | 8.00 | -146.00 | -252.00 | -302.00 | -282.00 | 186.00 | 1,122.00 |
| Total comprehensive income | 1,117.00 | 567.00 | 1,143.00 | 1,695.00 | 2,015.00 | 913.00 | 1,108.00 | 3,514.00 |
| Earnings per share, basic | 9.94 | 1.43 | 9.02 | 8.90 | 11.10 | 12.87 | 16.14 | 24.68 |
| Earnings per share, diluted | 9.94 | 1.43 | 5.75 | 8.90 | 11.10 | 12.87 | 16.14 | 24.68 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 51,564.00 | 53,932.00 | 55,730.00 | 58,579.00 | 69,107.00 | 73,960.00 | 82,673.00 | 92,835.00 |
| Non-current assets | 43,454.00 | 45,025.00 | 46,737.00 | 48,961.00 | 52,213.00 | 57,286.00 | 63,640.00 | 72,993.00 |
| Current assets | 6,379.00 | 6,943.00 | 7,431.00 | 8,047.00 | 13,153.00 | 13,587.00 | 16,759.00 | 17,826.00 |
| Property, plant and equipment | 28,953.00 | 30,295.00 | 33,942.00 | 36,437.00 | 35,725.00 | 37,049.00 | 36,980.00 | 44,227.00 |
| Capital work-in-progress | 5,404.00 | 6,200.00 | 4,134.00 | 3,003.00 | 4,355.00 | 5,695.00 | 6,991.00 | 2,054.00 |
| Goodwill | 598.00 | 598.00 | 598.00 | 598.00 | 598.00 | 598.00 | 598.00 | 598.00 |
| Other intangible assets | 1,749.00 | 1,752.00 | 1,881.00 | 1,885.00 | 1,863.00 | 1,111.00 | 1,850.00 | 1,146.00 |
| Inventories | 201.00 | 152.00 | 189.00 | 255.00 | 356.00 | 625.00 | 711.00 | 669.00 |
| Trade receivables | 1,694.00 | 1,438.00 | 1,514.00 | 1,565.00 | 4,423.00 | 4,218.00 | 6,160.00 | 5,734.00 |
| Cash and cash equivalents | 137.00 | 191.00 | 507.00 | 742.00 | 2,364.00 | 2,190.00 | 2,622.00 | 1,735.00 |
| Total equity and liabilities | 51,564.00 | 53,932.00 | 55,730.00 | 58,579.00 | 69,107.00 | 73,960.00 | 82,673.00 | 92,835.00 |
| Equity | 11,642.00 | 12,760.00 | 12,917.00 | 13,703.00 | 21,822.00 | 23,011.00 | 24,401.00 | 26,526.00 |
| Equity share capital | 1,115.00 | 1,115.00 | 1,115.00 | 1,115.00 | 1,201.00 | 1,201.00 | 1,201.00 | 1,201.00 |
| Other equity | 9,520.00 | 10,547.00 | 10,782.00 | 11,526.00 | 19,784.00 | 20,867.00 | 22,183.00 | 24,226.00 |
| Total liabilities | 39,923.00 | 41,172.00 | 42,813.00 | 44,876.00 | 47,285.00 | 50,949.00 | 58,272.00 | 66,309.00 |
| Non-current liabilities | 33,017.00 | 34,154.00 | 36,535.00 | 36,859.00 | 39,488.00 | 40,932.00 | 45,544.00 | 50,741.00 |
| Current liabilities | 6,635.00 | 7,017.00 | 6,231.00 | 7,963.00 | 7,726.00 | 9,923.00 | 12,603.00 | 15,446.00 |
| Borrowings, non-current | 30,287.00 | 31,330.00 | 33,577.00 | 33,560.00 | 35,994.00 | 36,992.00 | 41,280.00 | 45,367.00 |
| Borrowings, current | 3,232.00 | 2,868.00 | 2,386.00 | 3,449.00 | 2,957.00 | 3,214.00 | 4,094.00 | 3,531.00 |
| Trade payables | 1,393.00 | 1,800.00 | 1,660.00 | 1,722.00 | 1,624.00 | 2,956.00 | 4,390.00 | 4,994.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 1,050.00 | 3,777.00 | 3,062.00 | 6,038.00 | 4,034.00 | 8,695.00 | 4,007.00 | 10,997.00 |
| Net cash from investing activities | -2,785.00 | -4,699.00 | -2,927.00 | -4,943.00 | -10,277.00 | -15,228.00 | -5,920.00 | -14,083.00 |
| Net cash from financing activities | 1,683.00 | 923.00 | 182.00 | -543.00 | 8,528.00 | 7,975.00 | 2,345.00 | 2,630.00 |
| Purchase of property, plant and equipment | 2,360.00 | 4,702.00 | 2,676.00 | 5,430.00 | 3,885.00 | 9,378.00 | 6,798.00 | 14,432.00 |
| Net increase in cash | -53.00 | 2.00 | 316.00 | 551.00 | 2,286.00 | 1,443.00 | 432.00 | -456.00 |
| con:CFO.BEFORE_TAX | 1,122.00 | 4,023.00 | 3,187.00 | 6,338.00 | 4,127.00 | 8,924.00 | 4,198.00 | 11,426.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 73.00 | 246.00 | 125.00 | 300.00 | 92.00 | 229.00 | 191.00 | 429.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 16.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 | 805.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 815.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 16.00 | 35.00 | 1,916.00 | 2,582.00 | 18.00 | 50.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-08-03 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 | 2026-07-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 73.22 | 73.22 | 73.22 | 74.94 | 69.59 | 69.94 | 69.94 | 69.94 | 71.19 | 0.71 | 0.71 | 0.73 | 0.75 | 0.73 |
| Domestic institutions | 3.87 | 3.83 | 3.80 | 3.97 | 5.34 | 5.38 | 5.85 | 6.33 | 6.89 | 0.10 | 0.10 | 0.10 | 0.12 | 0.13 |
| Mutual funds | — | — | — | — | — | — | — | — | 3.19 | 0.06 | 0.06 | 0.07 | 0.08 | 0.09 |
| Insurance companies | 3.68 | 3.68 | 3.69 | 3.70 | 3.54 | 3.48 | 3.55 | 3.61 | 3.61 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Foreign institutions | 17.73 | 17.49 | 17.49 | 15.54 | 19.23 | 18.66 | 17.33 | 17.58 | 15.85 | 0.13 | 0.13 | 0.12 | 0.10 | 0.10 |
| Government | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 26.78 | 26.78 | 26.78 | 25.06 | 30.41 | 30.06 | 30.06 | 30.06 | 28.81 | 0.29 | 0.29 | 0.27 | 0.25 | 0.27 |
| Non-institutional | 5.17 | 5.46 | 5.49 | 5.55 | 5.84 | 6.02 | 6.87 | 6.15 | 6.07 | 0.06 | 0.05 | 0.05 | 0.03 | 0.03 |
| Shares outstanding | 1115492683 | 1115492683 | 1115492683 | 1115492683 | 1201282642 | 1201282642 | 1201282642 | 1201282642 | 1201282642 | 1201282642 | 1201282642 | 1201282642 | 1201282642 | 1222954468 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Adani Energy Solutions Limited (Formerly known as Adani Tran | Wholly Owned Subsidiary of AESL | Any other transaction, Interest paid, Interest recei | 44,070,100,000.00 | 92 |
| Adani Transmission Step-One Limited | Wholly Owned Subsidiary of AESL | Any other transaction, Interest received, Sale of go | 23,167,500,000.00 | 11 |
| Adani Properties Private Limited | Entity over which ultimate control | Any other transaction, Interest paid | 17,078,300,000.00 | 16 |
| KPS1 Transmission Limited | Subsidiaries of AESL | Any other transaction, Interest received | 16,803,500,000.00 | 14 |
| Adani Enterprises Limited | Entity over which ultimate control | Any other transaction, Interest received, Purchase o | 13,722,200,000.00 | 31 |
| Adani Infra (India) Limited | Entity over which ultimate control | Any other transaction, Interest paid, Interest recei | 12,857,200,000.00 | 33 |
| Adani Electricity Mumbai Infra Limited | Subsidiaries of AESL | Any other transaction, Interest received | 11,917,300,000.00 | 14 |
| Adani Transmission Step-Two Limited | Wholly Owned Subsidiary of AESL | Any other transaction, Interest received, Sale of go | 10,919,400,000.00 | 8 |
| Essar Transo Limited | Wholly Owned Subsidiary of AESL | Any other transaction, Interest received | 10,476,200,000.00 | 5 |
| Adani Hybrid Energy Jaisalmer Four Limited (Formerly known a | Entity over which ultimate control | Any other transaction, Purchase of goods or services | 8,187,100,000.00 | 2 |
| North Maharashtra Power Limited | Entity over which ultimate control | Any other transaction, Sale of goods or services | 8,150,100,000.00 | 3 |
| Maharashtra Eastern Grid Power Transmission Company Limited | Wholly Owned Subsidiary of AESL | Any other transaction, Interest received | 7,860,200,000.00 | 33 |
| Adani Sportline Private Limited | Entity over which ultimate control | Any other transaction, Interest paid | 7,082,000,000.00 | 3 |
| Adani Rail Infra Private Limited | Entity over which ultimate control | Any other transaction, Interest paid | 6,896,500,000.00 | 14 |
| North Karanpura Transco Limited | Wholly Owned Subsidiary of AESL | Any other transaction, Interest received, Sale of go | 6,704,800,000.00 | 12 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-04-30 | Q4FY26 | ADANI ENERGY SOLUTIONS LIMITED | Read the call |
| 2026-01-27 | Q3FY26 | Read the call | |
| 2025-10-31 | H1FY26 | Read the call | |
| 2025-07-28 | Q1FY26 | Read the call | |
| 2025-04-29 | FYFY25 | Read the call | |
| 2024-10-25 | Q2FY25 | Read the call | |
| 2024-05-06 | Q4FY24 | Read the call | |
| 2024-02-01 | Q3FY24 | Read the call | |
| 2023-11-09 | Q2FY24 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | H1FY26 | Q1FY26 | Q2FY24 | Q2FY25 | Q3FY24 | Q3FY26 | Q4FY24 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | So, in a way, is it fair to assume it could open up opportunities for you to enter new cities without having to deploy your own capex? | As far as the capex progress at consolidated level is concerned, this year, we did a capex of INR 2,224 crores as compared to INR 1,313 crores in last… | Sir, the third question is how is the progress on HVDC execution, which we are building up in Mumbai and how much capex you have incurred till date? | On a longer-term horizon, one to one and a half years period, there will be another at least Rs 1 lakh crore of capex that will come under the bidding… | So, currently, the order in hand is about 2.1 crores meters, which is roughly a capex of about INR 17,000 crores to INR 18,000 crores. | Broadly, what would be the capex phase out as you complete these projects by 2029, 2030 or so, broad capex phase out? | And secondly, even in terms of ballpark capex for the transmission business, what should be pencilled in the coming years for the transmission busines… | April 24, 2026 We will continue to improve the capex and reach about INR20 crores capex this year. |
| Capital allocation | Last quarter, we did $44 million of bond buyback of GMTN bond. | — | — | — | So, AEML basically, as you would know, did a buyback of $ 120 million of bond during the last quarter. | So, land acquisition challenges can still be surpassed. | — | — |
| Costs | — | So, what are the underlying cost pressures or have there been some regulatory changes driving this and is this decline structural or transitory? | — | — | — | — | — | — |
| Debt and cash | Plus, you would see is that whatever short-term working capital also AEML had and.so we carried about INR 400-odd crores of short-term loan in AEML th… | — | My first question was on the change in regulatory capital balance so we booked a reversal of about Rs.300 Crores in Q1 and then now this is down to Rs… | — | 7,800 Crores of net debt AEML had in its books as of 31st December. | So our total net debt currently as we speak is INR38,000-odd crores, of which INR48,000 crores is gross debt, and we have cash balance of INR9,600-odd… | — | So effectively, our free cash flow negative INR7,500 crores. |
| Demand | My first question is on the transmission pipeline. | With this new project, Talegaon project, our under- construction order book stands at about INR 59,300 crores. | Also, in terms of our under-construction pipeline we are on track, and we will make significant progress in coming quarters. | Can you help us with the transmission capex, which you will do for next three years based on the current pipeline? | Sir, my first question is on the under-construction pipeline for Adani Energy. | Of course, we haven't seen too much of traction in the smart meter -- smart meter order book, right? | Sir, I wanted to check with you regarding the INR 1.1 trillion pipeline that you just mentioned for bidding. | Distribution, again, will be about 2,000 and smart metering, given the order book, we are not assuming the additional one. |
| Guidance | And we expect that to get commissioned somewhere in December or January. | With the smart meter, in fact, we made significant progress during this quarter on the lines of guidance that we had at the beginning of the year. | Sir out of this 232 billion worth of order that we have so what is the expected capex for these and when should we expect the revenues to start coming… | So, in the next six months, Mohit, we expect to witness a bidding of about Rs 85,000 crore capex of transmission project. | There is a bidding process that is going on in various states and we expect that similar number of amounts of order will get added into the current on… | So we expect that significant action we will see in smart metering bidding in next couple of quarters. | How far have we progressed and when do we expect the commissioning? | Land at Olpad, we expect to get possession from Power Grid in maybe a month's time. |
| Margin | In the opening comments, you mentioned that the capex for this year will be about INR17,000-INR18,000 crores and revenue run rate of that or EBITDA ru… | EBITDA has increased by 14 % year-on-year, which now has crossed INR 2,000 crores. | In terms of EBITDA growth in the quarter we achieved 9% growth with EBITDA reaching an absolute number of Rs.907 Crores. | Is it possible to talk about the expected EBITDA of the locked-in portfolio? | — | Also, given the progress in the newer verticals, can you reshare the margin structure, especially for the C&I business, sort of the expected growth an… | — | If you can just help us quantify the EBITDA run rate contribution from some of the projects that have come on in fiscal '26 into fiscal '27? |
| Pricing | In terms of pricing, could you indicate for if we have to go for INR pricing, what kind of pricing you see currently for those assets? | — | Understood and with respect to as I asked is there any current plans to support the bonds in the market given by their pricing at, I believe that they… | — | — | And so far, with the restriction on Chinese players, and we will be getting all the supplies at the right time and at an appropriate pricing. | — | — |
| Revenue growth | So, Mumbai, in last couple of years, we see demand growth of the order of 5.5% to 6%. | However, our Mundra distribution company, the sales growth was 22% year-on-year, which was basically due to an increase in industrial demand in Mundra… | In terms of network addition and growth, a comparative number here is that country level we added 1% on YTD basis, AESL network growth was 5% in first… | — | The revenue is up by virtue of the fact that one could register additional assets and so did the direct costs by virtue of which the Operational EBITD… | — | — | And when do you expect the 1.5 gigawatt to start contributing to the top line? |