Adani Energy Solutions share price
NSE: ADANIENSOLBSE: 539254PowerLarge Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹1,311.60.
28 Oct: open ₹1,305.00, high ₹1,306.40, low ₹1,278.10
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹1,58,250 Cr63rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 42.68
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 5.06
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 13.6%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 10.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 1.59
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 12,21,76148.0% delivered
About Adani Energy Solutions
Adani Energy Solutions Limited builds and operates power transmission lines and substations across India, and distributes electricity to homes and businesses in Mumbai and Mundra.123 It also provides smart meters to electricity distribution companies, and sells power and energy services to industrial and commercial customers, data centres and utilities.3
Its transmission network spans 16 states.4 Its Mumbai customers are served through its subsidiary Adani Electricity Mumbai Limited.35 A subsidiary, Adani Cooling Solutions Limited, runs its cooling business, which makes chilled water at central plants and pipes it to buildings, airports, data centres and industrial estates for a metered fee.6
Its transmission business began in 2006 to carry power from the Mundra plant; the company was incorporated in 2013 and separated from Adani Enterprises in 2015.78 It has grown through its own projects and by buying transmission assets from GMR, Reliance Infrastructure and KEC, and entered power distribution in 2018.7
The Adani family, the company's promoter, held 73.39% of it in Sep 2026.9 Gautam S. Adani, founder and chairman of the Adani Group, is its non-executive chairman, and Kandarp Patel is its whole-time director and chief executive officer.1011
Adani Energy Solutions key points
Results
- In the quarter to Sep 2026, consolidated operational revenue was ₹7,167 crore; total EBITDA (earnings before interest, tax, depreciation and amortisation, plus other and one-time regulatory income) rose 67% to ₹3,548 crore, and profit after tax 145% to ₹1,364 crore, against a year earlier.1213
- In the half year to Sep 2026, operational revenue was ₹14,351 crore against ₹9,548 crore a year earlier, total EBITDA ₹6,726 crore against ₹4,144 crore, and profit after tax ₹2,600 crore against ₹1,096 crore.14
- In the year to Mar 2026, operating revenue was ₹18,296 crore as the company presents it, EBITDA ₹8,726 crore and adjusted profit after tax ₹2,393 crore.15
- Net debt (borrowings less cash) was ₹41,067 crore at Sep 2026, and net debt to EBITDA 3.63 times, against 4.4 times a year earlier.16
Market position
- Its market share in transmission projects awarded by tariff-based competitive bidding (TBCB, where bidders compete on tariff) was 17% in the half year to Sep 2026, against 29% in the year to Mar 2026.1718
- Its share of smart meter bids was 19% in the year to Mar 2026; its presentation of 23 Oct 2026 gives about 19% under the Revamped Distribution Sector Scheme (RDSS, the central government's programme to modernise state distribution companies).1920
- It is the only private company with 4 high-voltage direct current (HVDC) lines, used to move bulk power over long distances, the company says.20
Business segments
- Operational revenue by business21
Item half year to Sep 2026 half year to Sep 2025 Distribution ₹6,702 crore ₹6,478 crore Energy solutions platform ₹4,103 crore ₹410 crore Transmission ₹3,117 crore ₹2,474 crore Smart metering ₹428 crore ₹185 crore - Distribution. Adani Electricity Mumbai Limited served 3.29 million customers and sold 6,190 million units of power in the half year to Sep 2026, against 5,589 million a year earlier; its provisional distribution loss (power lost in the network) was 4.29%.2223
- Smart metering. 14.8 million meters installed by Sep 2026, 60% of the 24.6 million contracted in 10 projects, which carry a revenue potential of ₹29,519 crore over their contract periods.232425
- Energy solutions platform. Supplied 25,333 million units of power in the half year to Sep 2026. It has supply tie-ups of about 4.6 GW of solar and wind power and about 3.5 GWh of battery storage.2326
Transmission network
- At Sep 2026 its transmission business had 20,023 circuit kilometres (ckm) of lines in operation and 9,779 ckm under construction, with 1,43,425 megavolt-amperes (MVA) of transformation capacity, the substations' capacity to change voltage.27
- Transmission system availability (how much of the time its lines could carry power) was 99.8% in the quarter to Sep 2026; transmission availability earned ₹136 crore of incentives in the year to Mar 2026.2628
Order book
- The transmission order book (projects not yet built) was ₹87,222 crore at Sep 2026, against about ₹71,779 crore at Mar 2026. Transmission projects Vizag and Satara, won in the quarter, add about 2,000 ckm and ₹1,474 crore of yearly tariff.2930
- The company puts the locked-in tariff of its transmission projects under construction at ₹10,994 crore; for its cost-plus assets (paid a regulated return on cost), the figure is an estimated billing.1731
Expansion and capital spending
- Capital spending was ₹7,850 crore in the half year to Sep 2026, 1.3 times a year earlier, with transmission spending up 1.7 times on project wins.32
- It has applied for parallel distribution licences (the right to supply where another distributor operates) in Maharashtra, Gujarat and Uttar Pradesh. On its earnings call of 22 Jul 2026, it said the matter was pending with the regulator, with no movement.3334
What the company expects
- The company stated in its annual report for the year to Mar 2026 that it targets 30,000 circuit kilometres of transmission lines by 2030.35
- The company stated in its annual report for the year to Mar 2026 that it targets more than 4 million customers in Mumbai in the near term.36
- On its earnings call of 22 Jul 2026, the company said it believes its energy solutions platform can capture a market opportunity of 7.5 GW or more by 2031.37
Recent events
- On 8 Sep 2026, subsidiary Powerpulse Trading Solutions Limited signed a 25-year agreement to supply 2,500 MW of round-the-clock power to Maharashtra State Electricity Distribution Company Limited, under an award Adani Power assigned to it.38
- On 30 Jul 2026, the company closed a qualified institutional placement (a sale of new shares to large institutional investors), allocating 2,16,71,826 shares at ₹1,615.00 each.39
- On 9 Jun 2026, the company agreed to buy all of IntelliSmart Infrastructure, adding 22.3 million smart meters, for ₹3,050 crore including redemption of debentures held by the seller; its presentation of 23 Oct 2026 says closing is subject to regulatory approvals.4041
Last updated
All 41 sources, each with its page
- 1. Annual report, 31 May 2026, page 111
- 2. Investor presentation, 23 Oct 2026, page 8
- 3. Annual report, 31 May 2026, page 45
- 4. Exchange filing, 9 Jun 2026, page 3
- 5. Annual report, 31 May 2026, page 352
- 6. Annual report, 31 May 2026, page 119
- 7. Annual report, 31 May 2026, page 425
- 8. Annual report, 31 May 2026, page 1
- 9. Investor presentation, 23 Oct 2026, page 5
- 10. Annual report, 31 May 2026, page 379
- 11. Annual report, 31 May 2026, page 347
- 12. Investor presentation, 23 Oct 2026, page 9
- 13. Investor presentation, 23 Oct 2026, page 18
- 14. Investor presentation, 23 Oct 2026, page 11
- 15. Annual report, 31 May 2026, page 64
- 16. Investor presentation, 23 Oct 2026, page 9
- 17. Investor presentation, 23 Oct 2026, page 8
- 18. Annual report, 31 May 2026, page 64
- 19. Annual report, 31 May 2026, page 64
- 20. Investor presentation, 23 Oct 2026, page 8
- 21. Investor presentation, 23 Oct 2026, page 13
- 22. Investor presentation, 23 Oct 2026, page 25
- 23. Investor presentation, 23 Oct 2026, page 9
- 24. Investor presentation, 23 Oct 2026, page 42
- 25. Investor presentation, 23 Oct 2026, page 8
- 26. Investor presentation, 23 Oct 2026, page 9
- 27. Investor presentation, 23 Oct 2026, page 23
- 28. Annual report, 31 May 2026, page 90
- 29. Investor presentation, 23 Oct 2026, page 9
- 30. Annual report, 31 May 2026, page 61
- 31. Investor presentation, 23 Oct 2026, page 41
- 32. Investor presentation, 23 Oct 2026, page 16
- 33. Annual report, 31 May 2026, page 52
- 34. Earnings call, 22 Jul 2026, page 16
- 35. Annual report, 31 May 2026, page 111
- 36. Annual report, 31 May 2026, page 138
- 37. Earnings call, 22 Jul 2026, page 16
- 38. Exchange filing, 8 Sep 2026, page 1
- 39. Exchange filing, 30 Jul 2026, page 1
- 40. Exchange filing, 9 Jun 2026, page 2
- 41. Investor presentation, 23 Oct 2026, page 8
Results
Consolidated; ₹ crore.Adani Energy Solutions quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +32.6%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- –
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹10,076 Crup 3.75%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹1,364 Crup 10.30%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 13.5%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,830 | 6,375 | 6,819 | 6,596 | 6,730 | 7,443 | 9,711 | 10,076 |
| Net profit | 625 | 687 | 539 | 557 | 574 | 723 | 1,237 | 1,364 |
| Net margin | 10.7% | 10.8% | 7.9% | 8.4% | 8.5% | 9.7% | 12.7% | 13.5% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹27,588 Crup 16.08%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹2,393 Crup 159.60%
- Net margin
- 8.7%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2019, the company's revenue for that year, ₹7,305 Cr, differs from its quarters added, ₹7,387 Cr.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,879 | 3,944 | 7,305 | 11,416 | 9,926 | 11,258 | 13,293 | 16,607 | 23,767 | 27,588 |
| Net profit | 416 | 1,143 | 559 | 706 | 1,290 | 1,947 | 2,316 | 1,196 | 922 | 2,393 |
| Net margin | 14.5% | 29.0% | 7.7% | 6.2% | 13.0% | 17.3% | 17.4% | 7.2% | 3.9% | 8.7% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- DistributionDistribution, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹12,450 Crup 1.50%50.1%
- TransmissionTransmission, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹9,824 Crup 17.93%39.5%
- TradingTrading, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,091 Crdown 20.97%4.4%
- Smart MeterSmart Meter, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹828 Cr3.3%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹648 Cr2.6%
Valuation
Today, against the company's own history. Dividend yield is not shown: no dividend in the years on record. Its history crosses a change of basis in the accounts in the year to Mar 2019: days before it are of the company before the change.Adani Energy Solutions PE ratio and valuation
At or below today's level on 10% of 988 trading days over the last 5 years.
At or below today's level on 40% of 1,927 trading days since Nov 2018.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +7.2% | +115.3% | −50.2% | 0.0% |
| 3 years | −2.0% | +19.0% | −17.7% | 0.0% |
| 5 years | +0.6% | +11.3% | −9.6% | 0.0% |
Mutual fund holdings
235 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 129 of the 154 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 235 funds holding Adani Energy Solutions
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 5
- AddedAdded. Funds that held more shares than at the end of the month before.
- 100
- CutCut. Funds that held fewer shares than at the end of the month before.
- 54
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 75
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
| 1,90,00,000 | 2.90% | ₹2,497.7 Cr | |
| 1,50,00,000 | 3.93% | ₹1,971.9 Cr | |
| 41,46,525 | 0.72% | ₹545.1 Cr | |
| 39,18,593 | 3.93% | ₹515.1 Cr | |
| 35,54,550 | 1.31% | ₹467.3 Cr | |
| 33,00,000 | 1.55% | ₹433.8 Cr | |
| 29,99,737 | 1.69% | ₹394.3 Cr | |
| 28,61,325 | 0.81% | ₹376.1 Cr | |
| 27,20,000 | 0.88% | ₹357.6 Cr | |
| 25,00,000 | 1.17% | ₹328.7 Cr |
Promoter and insider buying and selling
Trades made since 28 Oct 2025.Adani Energy Solutions insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade · 1 pledge filing of unclear kind
Adani Energy Solutions competitors and peers
Power, 44 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Adani Energy Solutions in market cap. 1 company in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Power stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2,94,536 | 10.61 | 1.45 | +2.4% | +15.9% | 14.3% | 8.1% | 2.96% | |
| 2,33,817 | 14.71 | 2.33 | +2.3% | +3.0% | 16.5% | 10.2% | 3.58% | |
| 2,09,027 | 111.54 | 9.68 | +20.9% | −7.1% | 9.1% | 6.3% | 0.00% | |
| 1,07,044 | 27.71 | 2.71 | −4.2% | −4.8% | 10.3% | 6.8% | 0.75% | |
| 88,557 | 38.19 | 2.41 | +26.4% | +14.6% | 7.0% | 6.0% | 0.41% | |
| 74,775 | 19.70 | 1.80 | +12.0% | +24.1% | 9.4% | 3.6% | 2.16% | |
| 70,124 | 115.53 | 3.70 | – | – | 3.2% | 3.4% | 0.00% | |
| 58,453 | 25.15 | 3.06 | +4.1% | −15.4% | 12.7% | 11.9% | 1.72% |
Latest announcements
Routine notices left out.Adani Energy Solutions announcements
Oct 2026
22 Oct · Management
13 Oct · Analysts
7 Oct · Analysts
Adani Energy Solutions share price by year
Each calendar year to 2025.Adani Energy Solutions share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,027.35 | +27.4% | 1,027.35 | 646.65 |
| 2024 | 806.20 | −22.9% | 1,275.20 | 600.75 |
| 2023 | 1,045.75 | −59.6% | 2,784.10 | 642.90 |
| 2022 | 2,589.25 | +48.7% | 4,105.40 | 1,731.10 |
| 2021 | 1,740.85 | +297.9% | 2,029.60 | 406.10 |
| 2020 | 437.50 | +32.0% | 440.05 | 163.85 |
| 2019 | 331.40 | +67.0% | 341.90 | 195.25 |
| 2018 | 198.40 | −11.5% | 250.95 | 120.40 |
| 2017 | 224.15 | +295.0% | 235.80 | 56.65 |
| 2016 | 56.75 | +53.8% | 64.75 | 26.55 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 1,264.30 | 1,311.60 | 1,260.60 | 1,311.60 | 1,283.10 | 16,86,736 | 44.6% |
| 26 Oct 2026 | 1,221.00 | 1,260.80 | 1,207.50 | 1,258.00 | 1,241.44 | 13,01,983 | 30.7% |
| 23 Oct 2026 | 1,295.40 | 1,302.00 | 1,200.00 | 1,220.00 | 1,225.42 | 30,68,614 | 35.2% |
| 22 Oct 2026 | 1,323.90 | 1,336.80 | 1,287.00 | 1,295.40 | 1,310.68 | 23,30,309 | 41.1% |
| 21 Oct 2026 | 1,370.20 | 1,380.00 | 1,324.00 | 1,324.00 | 1,342.97 | 12,89,010 | 47.5% |
| 19 Oct 2026 | 1,368.00 | 1,387.80 | 1,364.00 | 1,364.90 | 1,372.12 | 13,03,809 | 52.2% |
| 16 Oct 2026 | 1,363.80 | 1,383.30 | 1,354.00 | 1,365.90 | 1,366.42 | 15,38,205 | 54.7% |
| 15 Oct 2026 | 1,359.90 | 1,381.90 | 1,338.70 | 1,354.20 | 1,362.35 | 17,56,003 | 43.4% |
| 14 Oct 2026 | 1,298.00 | 1,364.00 | 1,284.40 | 1,364.00 | 1,346.78 | 38,91,434 | 52.4% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 27 Jan 2023 | Price move | – | Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for. |
Company details
- NSE symbol
- ADANIENSOL
- BSE code
- 539254
- ISIN
- INE931S01010
- Industry
- Power
- Former symbols
- ADANITRANS
- Website
- www.adanitransmission.com
- CIN
- L40300GJ2013PLC077803
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2013
- Registered office
- Adani Corporate House, Shantigram, Near Vaishnav Devi Circle, S. G. Highway, Khodiyar, Ahmedabad 382421, Gujarat
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments