# Adani Energy Solutions (ADANIENSOL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/adaniensol

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,457.4
- Change: +0.74%
- As of: 2026-11-06
- 1D return: +0.74%
- 5D return: +8.00%
- 1M return: +16.45%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

As of the close on 5 November 2026, ADANIENSOL trades at ₹1446.7, positioned near the upper end of its 20-day range (+94.7%) and in the upper-middle of its 252-day range (+65.3%). The daily technical structure is bullish, with price holding above all key moving averages (20/50/200 SMA, 20/50 EMA) and the Supertrend indicator. However, trend strength is currently weak on the daily chart (ADX 18.96), suggesting a lack of conviction despite the positive positioning. This contrasts with a stronger monthly trend (ADX 37.96) and an established weekly trend (ADX 26.49). A moderate upward gap occurred on 5 November (+2.3%), adding to recent momentum after a sharp intraday swing on 23 October (-5.8% return). While the stock has gained +46.7% over the past year, it faces resistance just 0.66% higher at ₹1456.2. Volatility remains elevated (annualized 39.6%, ATR 3.38%), and the stock is currently 16.9% below its available high.

- Trend Structure: Daily trend is technically bullish (price above all MAs and Supertrend) but weak (ADX 18.96); Monthly trend is strong (ADX 37.96) and bullish; Weekly trend is established (ADX 26.49) but shows mixed signals with price below 20-SMA and Supertrend.
- Price Positioning: Trading at ₹1446.7, near the top of the 20-day range (+94.7%). Immediate resistance lies at ₹1456.2 (0.66% above), followed by ₹1495.0 (3.34% above). Support is seen at ₹1435.1 (0.80% below).
- Recent Activity: An upward gap occurred on 5 November (+2.3%, z-score 2.75). This follows a high-severity wide intraday range event on 23 October (-5.8% return). Year-to-date return is +38.3%; 1-year return is +46.7%.
- Risk & Volatility: Annualized volatility is high at 39.6% with an ATR of 3.38%. The stock is currently in a -16.9% drawdown from its available high, with a maximum historical drawdown of -29.9%.

- Morning Star
- Outside Bar
- Harami
- Inside Bar
- Bullish Engulfing Reversal

### News Context

Adani Energy Solutions (ADANIENSOL) advanced its expansion strategy with the Competition Commission of India (CCI) approving its Rs 3,050-crore acquisition of IntelliSmart Infrastructure Private Ltd on October 31, 2026. The transaction involves purchasing 100% equity share capital from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL), including the redemption of optionally convertible debentures held by NIIF. This regulatory clearance marks a significant step in consolidating infrastructure assets within the company's portfolio.

In market sentiment developments, Nuvama Wealth highlighted Adani Energy Solutions as one of five stock picks for Muhurat Trading ahead of Diwali 2026 (Samvat 2083). The brokerage cited improving risk-reward prospects driven by attractive valuations, extreme bearish foreign-investor positioning, and potential global catalysts. These selections were based on technical structures and anticipated gains rather than fundamental earnings forecasts.

- Regulatory Approval: CCI cleared Adani Energy Solutions' Rs 3,050-crore acquisition of IntelliSmart Infrastructure on October 31, 2026, involving full equity purchase from NIIF and EESL.
- Transaction Structure: The deal includes the redemption of optionally convertible debentures held by NIIF, finalizing the transfer of 100% equity share capital.
- Brokerage View: Nuvama Wealth included Adani Energy Solutions in its Diwali 2026 Muhurat Trading picks, citing attractive valuations and technical strength.
- Market Context: The brokerage's recommendation aligns with a broader view of improving risk-reward for Indian equities due to bearish foreign investor positioning.

- [Diwali 2026: Stocks to buy for Samvat 2083: Adani Energy, Coforge, PNB, Zydus, KDDL - 5 shares for Muhurat Trading](https://www.livemint.com/market/stock-market-news/diwali-2026-stocks-to-buy-for-samvat-2083-adani-energy-coforge-pnb-zydus-kddl-5-shares-for-muhurat-trading-11793785141234.html)
- [CCI clears five major deals across food, energy, fintech and telecom sectors](https://economictimes.indiatimes.com/news/india/cci-clears-five-major-deals-across-food-energy-fintech-and-telecom-sectors/articleshow/135405122.cms)
- [IANS LIVE](https://ianslive.in/)
- [CCI okays Adani Energy Solutions’ Rs 3,050-crore acquisition of IntelliSmart Infrastructure](https://ianslive.in/cci-okays-adani-energy-solutions-rs-3050-crore-acquisition-of-intellismart-infrastructure--20261031143556)

### What Changed

Adani Energy Solutions (NSE: ADANIENSOL) reported a clean utilization of funds for its Qualified Institutional Placement (QIP), with no deviations from stated objectives for the quarter ended September 30, 2026. The company raised ₹3,499.99 crore on July 30, 2026; during Q2FY27, it utilized ₹2,657.59 crore, leaving ₹842.40 crore unutilized at quarter-end. CARE Ratings Limited’s monitoring report confirmed that while some payments were routed through the company’s current account rather than directly through the monitoring account—resulting in commingling—the end use was verified via management and CA certificates. No funds were deployed toward the proposed acquisition of 100% of Intellismart Infrastructure Private Limited during this period.

Market pricing as of November 5, 2026, stood at ₹1,446.70, up from ₹1,414.00 previously. This price movement coincides with the filing of the monitoring agency report on November 6, 2026. The absence of fund diversion or implementation delays provides a baseline of operational compliance, though the unutilized balance and the specific exclusion of the Intellismart acquisition from current spending remain key variables to monitor for future capital deployment strategies.

- QIP Fund Utilization: ₹2,657.59 crore utilized out of ₹3,499.99 crore raised in July 2026; ₹842.40 crore remains unutilized as of September 30, 2026.
- Monitoring Compliance: CARE Ratings reported no deviation from issue objects; however, payment routing through current accounts led to commingling, requiring reliance on management/CA certificates for verification.
- Acquisition Status: No funds were used for the proposed acquisition of 100% of Intellismart Infrastructure Private Limited during the quarter.
- Price Action: Stock closed at ₹1,446.70 on November 5, 2026, compared to a previous reference price of ₹1,414.00.

- [Monitoring Agency Report and Statement of Deviation or Variation for the Quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/ADANITRANS_06112026145327_AESL_Monitoring_agency_letter.pdf)

### Official Filings

Adani Energy Solutions reported strong Q2FY27 financials, with total income rising 51% to ₹10,239 crore and PAT increasing 145% to ₹1,364 crore. The company secured a significant 25-year, 2,500 MW power purchase agreement with MSEDCL starting in February 2027 and added transmission projects worth approximately ₹1,474 crore in annual tariffs. Governance updates include the appointment of two senior management personnel effective October 22, 2026. A monitoring agency report filed on November 6, 2026, confirmed that proceeds from a July 30, 2026, Qualified Institutional Placement (QIP) of ₹3,499.99 crore were utilized without deviation, though it noted commingling of funds through current accounts. Management expects regulatory approval for the Intellismart acquisition within one month.

- Q2FY27 Financial Performance: Total income rose 51% YoY to ₹10,239 crore; EBITDA grew 67% to ₹3,548 crore; PAT increased 145% to ₹1,364 crore.
- Strategic Contracts & Projects: Signed a 25-year, 2,500 MW RE-RTC contract with MSEDCL (operations from late Feb 2027); acquired Vizag and Satara transmission projects adding ~₹1,474 crore in annual tariff.
- Capital Utilization: QIP raised ₹3,499.99 crore on July 30, 2026; ₹2,657.59 crore utilized in Q2FY27 with ₹842.40 crore unutilized at quarter-end; CARE Ratings reported no deviation but noted fund commingling.
- Leadership & Regulatory Status: Appointed Arvind Sharma as CISO and Rahul Bhutiani as Chief Strategic Customer Acquisition on Oct 22, 2026; awaiting CCI approval for Intellismart Infrastructure acquisition.

- [Monitoring Agency Report and Statement of Deviation or Variation for the Quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/ADANITRANS_06112026145327_AESL_Monitoring_agency_letter.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_30102026115242_AESL_Intimation_of_Transcript.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_26102026190834_AESL_-_Audio.pdf)
- [ADANI ENERGY SOLUTIONS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_12931_WebXMLFile_20261023_175529613.xml)
- [Adani Energy Solutions Limited has submitted to the Exchange, adoption of Unaudited financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026144617_UFR_FINAL.pdf)
- [Adani Energy Solutions Limited has informed the Exchange regarding a press release dated October 22, 2026, titled "AESL delivers Record Q2 Performance, Sustains Strong Growth Momentum". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026153655_AESL_Q2_FY27_Earnings_Press_release_vF.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744019_22102026051209_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744224_22102026073706_WEB.xml)
- [Adani Energy Solutions Limited has informed the Exchange about changes in Senior Management Personnel of the Company |SUBJECT: Change in Management](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026194431_AESL_-_Change_in_SMPs.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Investors' Presentation On Unaudited Financial Results (Standalone And Consolidated) For The Quarter and half year Ended September 30, 2026 |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_23102026000657_Presentation_-_H1.pdf)

### Fundamentals

Adani Energy Solutions (ADANIENSOL) demonstrated a robust operational expansion in Q2 FY2026-27, with revenue from operations rising to ₹10,076 crore, up 53% year-on-year. This growth was accompanied by strong earnings quality; net profit reached ₹1,364 crore and EPS increased to ₹11.01 per share, both marking sequential improvements over Q1. The company’s cash generation remains high, with Cash from Operating Activity growing to ₹10,997 crore for the full year ended March 2026, supported by an improving CFO/EBITDA ratio of 143%. However, the balance sheet reflects significant leverage, with borrowings increasing to ₹51,801 crore as of September 2026, while fixed assets grew to ₹46,354 crore. Working capital days improved to -50 days, indicating efficient working capital management despite rising current liabilities to ₹16,560 crore. Shareholding patterns show promoters increasing their stake to 73.39%, while FIIs reduced theirs to 9.57%.

- {'metric': 'Revenue Growth', 'value': 'Q2 FY2026-27 revenue rose 53% YoY to ₹10,076 crore, driven by strong top-line expansion.'}
- {'metric': 'Earnings Quality', 'value': 'CFO/EBITDA ratio improved to 143% in Mar 2026, indicating high conversion of operating profits into cash.'}
- {'metric': 'Leverage & Assets', 'value': 'Borrowings increased to ₹51,801 crore (Sep 2026) alongside fixed asset growth to ₹46,354 crore, reflecting capital-intensive expansion.'}
- {'metric': 'Ownership Shift', 'value': 'Promoter holding rose to 73.39% in Sep 2026, while FII stake declined to 9.57%, signaling divergent investor sentiment.'}

### Bull Case

Adani Energy Solutions presents a conditional upside case anchored by strategic expansion and technical resilience, despite near-term volatility. The Competition Commission of India (CCI) approved the company’s Rs 3,050-crore acquisition of IntelliSmart Infrastructure Private Ltd from NIIF and EESL on November 6, 2026. This transaction, which includes the redemption of optionally convertible debentures, signals active capital deployment to scale operations in power infrastructure or renewable energy assets. From a market perspective, the stock demonstrated strong momentum over the trailing year, with a +46.7% return and a +38.3% year-to-date gain as of November 5, 2026. Technical indicators support this longer-term strength: the monthly trend shows a bullish super-trend direction with an ADX of 37.96, indicating a established trend, while the daily chart also reflects a bullish super-trend. Furthermore, Nuvama Wealth highlighted Adani Energy as a Muhurat Trading pick for Samvat 2083, citing improving risk-reward prospects and attractive valuations relative to extreme bearish foreign-investor positioning. Investors should monitor whether the integration of IntelliSmart Infrastructure translates into immediate earnings visibility and watch for resistance at ₹1,456.20, just 0.66% above the recent close of ₹1,446.70.

- Regulatory approval secured for Rs 3,050-crore acquisition of IntelliSmart Infrastructure from NIIF and EESL, enabling strategic capacity expansion.
- Strong long-term performance evidenced by a +46.7% one-year return and +38.3% YTD gain, supported by a bullish monthly super-trend and high ADX (37.96).
- Institutional recognition via Nuvama Wealth’s Diwali 2026 stock picks, highlighting attractive valuations and potential gains amid bearish foreign investor positioning.
- Near-term price action faces immediate resistance at ₹1,456.20 (0.66% above current levels), with weekly trends showing mixed signals.

- [Diwali 2026: Stocks to buy for Samvat 2083: Adani Energy, Coforge, PNB, Zydus, KDDL - 5 shares for Muhurat Trading](https://www.livemint.com/market/stock-market-news/diwali-2026-stocks-to-buy-for-samvat-2083-adani-energy-coforge-pnb-zydus-kddl-5-shares-for-muhurat-trading-11793785141234.html)
- [CCI clears five major deals across food, energy, fintech and telecom sectors](https://economictimes.indiatimes.com/news/india/cci-clears-five-major-deals-across-food-energy-fintech-and-telecom-sectors/articleshow/135405122.cms)
- [IANS LIVE](https://ianslive.in/)
- [CCI okays Adani Energy Solutions’ Rs 3,050-crore acquisition of IntelliSmart Infrastructure](https://ianslive.in/cci-okays-adani-energy-solutions-rs-3050-crore-acquisition-of-intellismart-infrastructure--20261031143556)
- [Monitoring Agency Report and Statement of Deviation or Variation for the Quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/ADANITRANS_06112026145327_AESL_Monitoring_agency_letter.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_30102026115242_AESL_Intimation_of_Transcript.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_26102026190834_AESL_-_Audio.pdf)
- [ADANI ENERGY SOLUTIONS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_12931_WebXMLFile_20261023_175529613.xml)
- [Adani Energy Solutions Limited has submitted to the Exchange, adoption of Unaudited financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026144617_UFR_FINAL.pdf)
- [Adani Energy Solutions Limited has informed the Exchange regarding a press release dated October 22, 2026, titled "AESL delivers Record Q2 Performance, Sustains Strong Growth Momentum". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026153655_AESL_Q2_FY27_Earnings_Press_release_vF.pdf)

### Bear Case

Adani Energy Solutions faces notable near-term technical weakness and valuation pressure despite recent strategic acquisitions. On the weekly chart, the Supertrend indicator has flipped to bearish as of November 5, 2026, signaling a shift in momentum that contrasts with the daily bullish signal. This divergence suggests underlying selling pressure, reinforced by a -11.9% return over the past three months and a current drawdown of -16.9% from peak levels. The stock is trading at ₹1,446.70, just below immediate resistance at ₹1,456.20 (0.66% above), indicating limited upside buffer. With an annualized volatility of +39.6% and a maximum historical drawdown of -29.9%, the equity remains sensitive to sharp corrections. While the CCI approved a ₹3,050-crore acquisition of IntelliSmart Infrastructure, the market has not yet priced this into a sustained upward trend, leaving investors exposed to further downside support tests at ₹1,396.30 (-3.48%) or ₹1,375.20 (-4.94%).

- Weekly Supertrend turned bearish on November 5, 2026, contrasting with daily bullish signals and highlighting short-term momentum deterioration.
- Current drawdown stands at -16.9%, with a 3-month return of -11.9%, indicating significant recent underperformance relative to higher timeframes.
- Price action is constrained by immediate resistance at ₹1,456.20 (0.66% above), limiting upside potential in the near term.
- High volatility (+39.6% annualized) and proximity to support levels at ₹1,396.30 increase sensitivity to further downside moves.

- [Diwali 2026: Stocks to buy for Samvat 2083: Adani Energy, Coforge, PNB, Zydus, KDDL - 5 shares for Muhurat Trading](https://www.livemint.com/market/stock-market-news/diwali-2026-stocks-to-buy-for-samvat-2083-adani-energy-coforge-pnb-zydus-kddl-5-shares-for-muhurat-trading-11793785141234.html)
- [CCI clears five major deals across food, energy, fintech and telecom sectors](https://economictimes.indiatimes.com/news/india/cci-clears-five-major-deals-across-food-energy-fintech-and-telecom-sectors/articleshow/135405122.cms)
- [IANS LIVE](https://ianslive.in/)
- [CCI okays Adani Energy Solutions’ Rs 3,050-crore acquisition of IntelliSmart Infrastructure](https://ianslive.in/cci-okays-adani-energy-solutions-rs-3050-crore-acquisition-of-intellismart-infrastructure--20261031143556)
- [Monitoring Agency Report and Statement of Deviation or Variation for the Quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/ADANITRANS_06112026145327_AESL_Monitoring_agency_letter.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_30102026115242_AESL_Intimation_of_Transcript.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_26102026190834_AESL_-_Audio.pdf)
- [ADANI ENERGY SOLUTIONS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_12931_WebXMLFile_20261023_175529613.xml)
- [Adani Energy Solutions Limited has submitted to the Exchange, adoption of Unaudited financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026144617_UFR_FINAL.pdf)
- [Adani Energy Solutions Limited has informed the Exchange regarding a press release dated October 22, 2026, titled "AESL delivers Record Q2 Performance, Sustains Strong Growth Momentum". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026153655_AESL_Q2_FY27_Earnings_Press_release_vF.pdf)

### FAQs

**What major acquisition has Adani Energy Solutions completed, and what is the financial impact?**

The Competition Commission of India (CCI) approved Adani Energy Solutions' acquisition of 100% equity share capital of IntelliSmart Infrastructure Private Ltd for ₹3,050 crore. The transaction involves purchasing shares from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL), including the redemption of optionally convertible debentures held by NIIF.

**How are the company's Q2 FY27 financial results performing compared to previous periods?**

For the quarter ended September 30, 2026, Adani Energy Solutions reported total income growth over 50%, EBITDA growth close to 67%, and PAT growth of 145%. On a segmental basis, the Energy Solutions platform generated revenue over ₹2,000 crores and EBITDA over ₹800 crores during Q2.

**What is the status of the funds raised through the recent Qualified Institutional Placement (QIP)?**

The company raised ₹3,499.99 crore on July 30, 2026. As of the quarter ended September 30, 2026, ₹2,657.59 crore was utilized, leaving ₹842.40 crore unutilized. A monitoring report by CARE Ratings confirmed no deviation from stated issue objects, though it noted that some payments were routed through the current account rather than directly through the monitoring account.

**What key operational milestones and future contracts have been disclosed by management?**

Management disclosed an asset base of approximately ₹83,000 crores with locked-in capex exceeding ₹100,000 crores for delivery over the next 4–5 years. The transmission order book stands at ₹87,000 crores following the addition of Vizag Pendurthi and Satara projects. Additionally, a signed 2,500 MW RE-RTC contract with MSEDCL is scheduled to start operations from late February 2027.

- [Diwali 2026: Stocks to buy for Samvat 2083: Adani Energy, Coforge, PNB, Zydus, KDDL - 5 shares for Muhurat Trading](https://www.livemint.com/market/stock-market-news/diwali-2026-stocks-to-buy-for-samvat-2083-adani-energy-coforge-pnb-zydus-kddl-5-shares-for-muhurat-trading-11793785141234.html)
- [CCI clears five major deals across food, energy, fintech and telecom sectors](https://economictimes.indiatimes.com/news/india/cci-clears-five-major-deals-across-food-energy-fintech-and-telecom-sectors/articleshow/135405122.cms)
- [IANS LIVE](https://ianslive.in/)
- [CCI okays Adani Energy Solutions’ Rs 3,050-crore acquisition of IntelliSmart Infrastructure](https://ianslive.in/cci-okays-adani-energy-solutions-rs-3050-crore-acquisition-of-intellismart-infrastructure--20261031143556)
- [Monitoring Agency Report and Statement of Deviation or Variation for the Quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/ADANITRANS_06112026145327_AESL_Monitoring_agency_letter.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_30102026115242_AESL_Intimation_of_Transcript.pdf)
- [Adani Energy Solutions Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ADANITRANS_26102026190834_AESL_-_Audio.pdf)
- [ADANI ENERGY SOLUTIONS LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_12931_WebXMLFile_20261023_175529613.xml)
- [Adani Energy Solutions Limited has submitted to the Exchange, adoption of Unaudited financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026144617_UFR_FINAL.pdf)
- [Adani Energy Solutions Limited has informed the Exchange regarding a press release dated October 22, 2026, titled "AESL delivers Record Q2 Performance, Sustains Strong Growth Momentum". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026153655_AESL_Q2_FY27_Earnings_Press_release_vF.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹1,440.9
- Risk regime: Price Risk Requires Attention

### Support levels
- 1308
- 1275.2
- 1238.9

### Resistance levels
- 1551
- 1574.35
- 1611.9

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.74% |
| return_10 | +19.46% |
| return_1m | +7.95% |
| return_1y | +50.53% |
| return_20 | +16.45% |
| return_3m | -10.04% |
| return_5 | +8.00% |
| return_6m | +3.56% |
| return_since_start | +80.94% |
| return_ytd | +39.28% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -29.95% |
| annualized_volatility | +39.59% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Adani Energy Solutions Limited Q2 FY2026-27: Revenue up 3.8% QoQ

Adani Energy Solutions reported revenue from operations of ₹10,076 crore for the quarter ended 30 September 2026, up 3.8% sequentially and 52.8% year on year. Profit before tax rose 3.0% from Q1, while profit for the period increased 10.3% to ₹1,364 crore despite a higher tax expense. Operating cash flow was positive, but investing outflows exceeded it, leaving operating-plus-investing cash flow negative for the quarter.

## Revenue and expenses increased at a similar pace

Revenue from operations rose to ₹10,075.54 crore from ₹9,711.08 crore in Q1 FY2026-27 and was 52.8% above the ₹6,595.83 crore recorded in Q2 FY2025-26. Total expenses increased 3.7% sequentially to ₹8,755.73 crore from ₹8,439.71 crore.

Profit before exceptional items and tax grew 5.0% QoQ to ₹1,483.60 crore from ₹1,412.49 crore. Q2 expenses included ₹3,244.17 crore for materials consumed, ₹172.81 crore for purchases of stock in trade, ₹289.83 crore in employee benefit expense and ₹600.58 crore in depreciation and amortisation.

## Higher tax expense and profit growth

Profit before tax was ₹1,483.60 crore, up 3.0% from ₹1,441.04 crore in Q1 FY2026-27. Tax expense rose to ₹403.23 crore from ₹155.91 crore. The Q2 expense comprised current tax of ₹307.10 crore, deferred tax expense of ₹96.13 crore and a ₹283.55 crore net movement in regulatory deferral account balances and related deferred tax.

Profit for the period increased 10.3% to ₹1,363.92 crore from ₹1,236.56 crore in Q1. Of Q2 profit, ₹1,322.85 crore was attributable to owners of the parent and ₹41.07 crore to non-controlling interests. Basic and diluted EPS from continuing operations were both ₹11.01, compared with ₹9.57 in Q1.

## Asset growth and cash flows

Total assets were ₹1,03,300.39 crore at 30 September 2026, compared with ₹92,834.92 crore at 31 March 2026 and ₹82,672.75 crore at 30 September 2025. Non-current assets stood at ₹80,422 crore, up from ₹72,993.24 crore at 31 March. Property, plant and equipment was ₹43,781.54 crore, against ₹44,227.08 crore at March, while capital work in progress increased to ₹3,103.38 crore from ₹2,053.60 crore.

Operating cash flow was ₹6,257.13 crore and investing cash flow was an outflow of ₹10,899.23 crore. Financing activities provided ₹5,271.57 crore. Operating plus investing cash flow was negative ₹4,642.10 crore. Cash and cash equivalents were ₹2,364.04 crore at quarter-end, compared with ₹1,734.57 crore at 31 March 2026.

## Funding and balance sheet

Equity increased to ₹32,498.62 crore at 30 September 2026 from ₹26,525.64 crore at 31 March 2026; equity attributable to owners of the parent was ₹31,303.51 crore. Non-current borrowings rose to ₹49,145.49 crore from ₹45,367.32 crore, while current borrowings declined to ₹2,374.60 crore from ₹3,531.13 crore. Total liabilities were ₹70,801.77 crore.

Finance costs were ₹1,180.33 crore, up from ₹1,151.73 crore in Q1 FY2026-27. Current investments increased to ₹3,073.98 crore from ₹2,236.32 crore at March 2026. Current trade receivables rose to ₹7,441.20 crore from ₹5,733.75 crore.

## Management commentary

Management said Q2 FY2026-27 growth was driven by transmission and energy solutions and reported consolidated PAT of ₹1,364 crore. It said AESL secured two transmission projects during the quarter—Vizag Power Transmission Limited and Satara Power Transmission Limited—with an aggregate transmission under-construction pipeline of about ₹87,000 crore. The smart meter order book stood at 24.6 million meters, with revenue potential of ₹29,519 crore. Management also said it raised ₹3,500 crore through a QIP alongside primary and secondary equity investments from marquee investors.

## Key Takeaway

Revenue and profit increased sequentially, with profit for the period growing faster than PBT even as tax expense rose sharply. The balance sheet expanded and financing cash flow was positive, but operating cash flow did not cover investing outflows, leaving operating-plus-investing cash flow negative in Q2.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +73.39%
- FII holding: +9.57%
- DII holding: +13.61%
- Mutual fund holding: +9.38%
- Retail holding: +2.02%
- Promoter pledged: +0.00%

### Major reported shareholders

- Gautambhai Shantilal Adani and Rajeshbhai Shantilal Adani (on behalf of S.B. Adani Family Trust) — +49.20% (Trusts)
- Adani Tradeline Private Limited — +7.98% (Bodies Corporate)
- Gelt Bery Trade and Investment Limited — +5.30% (Overseas Corporate Bodies)
- Sbi Aggressive Hybrid Fund — +4.01%
- Life Insurance Corporation Of India — +3.13%
- Afro Asia Trade And Investments Limited — +2.47% (Overseas Corporate Bodies)
- Worldwide Emerging Market Holding Limited — +2.47% (Overseas Corporate Bodies)
- Emerging Market Investment DMCC — +2.21% (Overseas Corporate Bodies)
- Goldman Sachs Trust Ii - Goldman Sachs Gqg Partners International Opportunities Fund — +1.71%
- Adani Infra (India) Limited — +1.51% (Bodies Corporate)

## Official filings

- 2026-11-06 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_06112026145327_AESL_Monitoring_agency_letter.pdf)
- 2026-10-30 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_30102026115242_AESL_Intimation_of_Transcript.pdf)
- 2026-10-26 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_26102026190834_AESL_-_Audio.pdf)
- 2026-10-23 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_12931_WebXMLFile_20261023_175529613.xml)
- 2026-10-22 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026144617_UFR_FINAL.pdf)
- 2026-10-22 — Press Release: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026153655_AESL_Q2_FY27_Earnings_Press_release_vF.pdf)
- 2026-10-22 — Financial Results Filing: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744019_22102026051209_WEB.xml)
- 2026-10-22 — Financial Results Filing: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744224_22102026073706_WEB.xml)
- 2026-10-22 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_22102026194431_AESL_-_Change_in_SMPs.pdf)
- 2026-10-22 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_23102026000657_Presentation_-_H1.pdf)
- 2026-10-13 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_13102026132621_AESL_1HFY27_Earnings_Call_Invite.pdf)
- 2026-10-10 — Shareholding Disclosure: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1735355_10102026020737_WEB.xml)
- 2026-10-08 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_08102026181129_AESL_Reg_74_5__Cover_letter.pdf)
- 2026-10-07 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_07102026131629_AESL_Investor_Meet.pdf)
- 2026-10-07 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_12931_WebXMLFile_20261007_152859617.xml)
- 2026-10-07 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_07102026152704_AESL_Satara_Power_Acquisition.pdf)
- 2026-10-05 — Board Meeting Notice: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_05102026161919_AESL_Intimation_BM.pdf)
- 2026-10-05 — Board Meeting Notice: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_12931_WebXMLFile_20261005_163138802.xml)
- 2026-10-05 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_12931_WebXMLFile_20261005_163138802.xml)
- 2026-09-29 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_29092026083624_AESL_Settlement_Order_-_SE_Intimation.pdf)
- 2026-09-29 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_12931_WebXMLFile_20260929_125404138.xml)
- 2026-09-29 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_12931_WebXMLFile_20260929_125418531.xml)
- 2026-09-29 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_29092026125536_AESL_Trading_Window_Closures.pdf)
- 2026-09-25 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ADANITRANS_25092026180842_AESL_-_SE_Intimation_-_8_WOS.pdf)
- 2026-09-25 — Generic Announcement: Adani Energy Solutions Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_12931_WebXMLFile_20260925_183704977.xml)

## News and market events

- 2026-11-06 — Times of India: **Adani cites Rs 15,155 cr financial strength to defend Noida power licence bid | Lucknow News - The Times of India** — Adani Energy Solutions Step-Eleven Limited has defended its application for a power distribution licence in Noida’s Sector 62 data centre park, citing its parent company’s Rs 15,155.80 crore adjusted net worth to demonstrate financial capacity for the Rs 211 crore project. The Uttar Pradesh Electricity Regulatory Commission received this submission on November 2, with Adani asserting that costs will be recovered solely from data centre consumers without burdening existing grid users. However, the consumer body Uttar Pradesh Rajya Vidyut Upbhokta Parishad has urged the regulator to review the f — [Source](https://timesofindia.indiatimes.com/city/lucknow/adani-cites-rs-15155-cr-financial-strength-to-defend-noida-power-licence-bid/articleshow/135619726.cms)
- 2026-11-06 — Economic Times: **MSCI rebalancing on Monday: Adani Energy, Groww set for big inflows; RIL, Jio Financial may face outflows** — MSCI's latest rebalancing, with revised weights effective September 1, is expected to drive significant trading activity in Indian stocks, particularly during the final 30 minutes of Monday's session. Adani Energy Solutions and Groww are among the additions set to receive substantial inflows, while Reliance Industries and Jio Financial Services face potential outflows due to weight reductions. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/msci-rebalancing-on-monday-adani-energy-groww-set-for-big-inflows-ril-jio-financial-may-face-outflows/articleshow/133626232.cms)
- 2026-11-04 — Mint: **Diwali 2026: Stocks to buy for Samvat 2083: Adani Energy, Coforge, PNB, Zydus, KDDL - 5 shares for Muhurat Trading** — Nuvama Wealth identifies improving risk-reward prospects for Indian equities in Samvat 2083, citing attractive valuations, extreme bearish foreign-investor positioning, and potential global catalysts. The brokerage's Diwali stock picks include Adani Energy Solutions, Coforge, KDDL, Punjab National Bank, and Zydus Lifesciences, selected based on their technical structures and potential for further gains. — [Source](https://www.livemint.com/market/stock-market-news/diwali-2026-stocks-to-buy-for-samvat-2083-adani-energy-coforge-pnb-zydus-kddl-5-shares-for-muhurat-trading-11793785141234.html)
- 2026-10-31 — Economic Times: **CCI clears five major deals across food, energy, fintech and telecom sectors** — The Competition Commission of India (CCI) has granted approval for five significant business transactions across food services, renewable energy, power infrastructure, financial services, and telecommunications sectors. These approvals include the merger of Sapphire Foods India Limited with Devyani International Limited, Aditya Birla Renewables' acquisition of Solenergi Power, Adani Energy Solutions' purchase of IntelliSmart Infrastructure, Prosus's investment in Navi Limited, and Vega SAS's stake acquisition in Vodafone Group. — [Source](https://economictimes.indiatimes.com/news/india/cci-clears-five-major-deals-across-food-energy-fintech-and-telecom-sectors/articleshow/135405122.cms)
- 2026-10-31 — IANSLIVE.IN: **IANS LIVE** — The Competition Commission of India (CCI) approved Adani Energy Solutions' Rs 3,050-crore acquisition of IntelliSmart Infrastructure. — [Source](https://ianslive.in/)
- 2026-10-31 — IANSLIVE.IN: **CCI okays Adani Energy Solutions’ Rs 3,050-crore acquisition of IntelliSmart Infrastructure** — The Competition Commission of India (CCI) has approved Adani Energy Solutions Ltd's acquisition of 100 per cent equity share capital of IntelliSmart Infrastructure Private Ltd from National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL). The Rs 3,050-crore transaction includes the redemption of optionally convertible debentures held by NIIF. — [Source](https://ianslive.in/cci-okays-adani-energy-solutions-rs-3050-crore-acquisition-of-intellismart-infrastructure--20261031143556)
- 2026-10-30 — CNBC-TV18: **CCI okays AB Renewables' proposal to acquire Solenergi Power for Rs 17,200-cr** — The Competition Commission of India (CCI) approved Aditya Birla Renewables' acquisition of Solenergi Power for an enterprise value of ₹17,200 crore, creating one of India's largest integrated renewable energy platforms. The regulator also cleared the merger of Sapphire Foods India Limited into Devyani International Ltd and Adani Energy Solutions' acquisition of IntelliSmart Infrastructure. — [Source](https://www.cnbctv18.com/business/cci-okays-ab-renewables-proposal-to-acquire-solenergi-power-for-rs-17200-cr-20023805.htm)
- 2026-10-30 — Economic Times: **CCI approves Adani acquisition of Intellismart** — The Competition Commission of India approved Adani Energy Solutions' acquisition of 100% of IntelliSmart Infrastructure from NIIF and EESL, creating India's largest smart meter firm. Additionally, the CCI sanctioned the merger of Sapphire Foods India into Devyani International and approved Aditya Birla Renewables' acquisition of Solenergi Power. — [Source](https://economictimes.indiatimes.com/news/india/cci-approves-adani-acquisition-of-intellismart/articleshow/135369066.cms)
- 2026-10-30 — Economic Times: **Adani Energy Solutions gets CCI approval for Rs 3,050-crore IntelliSmart acquisition** — The Competition Commission of India has approved Adani Energy Solutions' Rs 3,050-crore acquisition of a 100% stake in IntelliSmart Infrastructure from NIIF and EESL. The transaction includes the redemption of optionally convertible debentures held by NIIF and is intended to expand Adani Energy Solutions' presence in the smart metering business. — [Source](https://economictimes.indiatimes.com/industry/renewables/adani-energy-solutions-gets-cci-approval-for-rs-3050-crore-intellismart-acquisition/articleshow/135365528.cms)
- 2026-10-29 — BUSINESSTODAY: **Adani Enterprises, Adani Ports, Adani Green, Adani Power: Why Adani stocks are rising today** — Adani Enterprises and Adani Ports announced their Q2 earnings, which brokerages described as better than street estimates. Following the results, several brokerages retained or upgraded their ratings and raised target prices for both companies. — [Source](https://www.businesstoday.in/markets/trending-stocks/story/adani-enterprises-adani-ports-adani-green-adani-power-why-adani-stocks-are-rising-today-564525-2026-10-29)
- 2026-10-29 — Mint: **Best Adani stock to buy after Q2 results 2026? Adani Power vs Adani Ports vs Adani Enterprises — Experts' views, targets** — Best Adani stock to buy after Q2 results 2026: Brokerages recommend Adani Enterprises, Adani Ports, Adani Energy Solutions, and Adani Power as top picks — [Source](https://www.livemint.com/market/stock-market-news/best-adani-stock-to-buy-after-q2-results-2026-adani-power-vs-adani-ports-vs-adani-enterprises-experts-views-targets-11793248073122.html)
- 2026-10-26 — BUSINESSTODAY: **Adani Energy Solutions share price: Analysts turn bullish after 30% correction; check new targets** — Adani Energy Solutions Ltd (formerly known as Adani Transmission Ltd) has received rating upgrades from several brokerages following a strong performance in the September 2026 quarter. — [Source](https://www.businesstoday.in/markets/trending-stocks/story/adani-energy-solutions-share-price-analysts-turn-bullish-after-30-correction-check-new-targets-563670-2026-10-26)
- 2026-10-26 — MONEYCONTROL: **Buy Adani Energy Solutions: target of Rs 1600: ICICI Securities** — Buy Adani Energy Solutions: target of Rs 1600: ICICI Securities Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Allotment Jamia Protest UP Polls 2027 Rahul Gandhi Infosys Share Price Aamir Khan Small Cap Stocks Cyclone Arnab Dhanush News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans up to 50 Lakhs Credit Cards L — [Source](https://www.moneycontrol.com/news/business/stocks/buy-adani-energy-solutions-target-of-rs-1600-icici-securities-14060185.html)
- 2026-10-26 — Mint: **Top stocks to buy: Adani Energy, AU Small Finance Bank, BPCL, IDFC First Bank — Jefferies sees up to 62% upside | Target** — Jefferies India report has predicted 33% upside in IDFC First Bank shares, and 35% upside in BPCL share price — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-to-buy-adani-energy-au-small-finance-bank-bpcl-idfc-first-bank-jefferies-sees-up-to-62-upside-target-11792982712174.html)
- 2026-10-23 — The Hindu: **Consumer resistance & State-hurdles cause smart meter installations to dip in H1 FY27: Adani Energy Solutions Ltd** — Adani Energy Solutions Ltd’s (AESL) smart meter installations declined 17 per cent y-o-y to 3.5 million in the first six months of FY27, as consumer resistance and State-specific requirements in Maharashtra and Bihar slowed deployment, Chief Executive Officer Kandarp Patel said on Friday. — [Source](https://www.thehindubusinessline.com/companies/consumer-resistance-state-hurdles-cause-smart-meter-installations-to-dip-in-h1-fy27-adani-energy-solutions-ltd/article71615254.ece)
- 2026-10-23 — BUSINESSTODAY: **Adani Energy, AGEL shares: 2 Adani stocks to watch after Q2 results; up to 33% upside** — JM Financial has maintained its 'ADD' rating on Adani Green Energy Ltd (AGEL) after the company reported in-line results for the second quarter of FY27. — [Source](https://www.businesstoday.in/markets/stocks/story/adani-energy-agel-shares-2-adani-stocks-to-watch-after-q2-results-up-to-33-upside-563208-2026-10-23)
- 2026-10-23 — Mint: **Top stocks to watch today: Infosys, Tata Motors, Swiggy, Cyient shares in focus on Friday, 23 Oct | Full list** — Top stocks to watch today: Infosys, Adani Power, Tata Motors, Swiggy, Cyient, Adani Energy Solutions, Hindustan Petroleum Corporation among shares in focus on Friday. — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-to-watch-today-infosys-tata-motors-swiggy-cyient-shares-in-focus-on-friday-23-oct-full-list-11792719056861.html)
- 2026-10-22 — The Hindu: **Q2 Results Today Highlights: Adani Energy Solutions PAT surges 145%, CPCL profit triples; Havells profit up 9.7%, Jindal Stainless Q2 profit rises 11%, Colgate profit rise 4.3%, Adani Total Gas Q2 net profit rises 3%; Swiggy shares tumble over 5%** — Q2 Results Today, 22nd October 2026 Highlights: Follow the latest announcements and developments on the company's September quarter earning on Adani Energy, HPCL, Havells, Swiggy, Colgate, Hatsun, Cyient, Adani Total Gas, Nippon Life and others — [Source](https://www.thehindubusinessline.com/markets/q2-results-today-live-updates-adani-energy-hpcl-havells-swiggy-colgate-hpcl-hatsun-cyient-adani-tital-gas-nippon-life-company-results-22-october-2026/article71610008.ece)
- 2026-10-22 — The Hindu: **Adani Energy Solutions’ profit more than doubles to ₹1,364 crore** — Adani Energy Solutions posts a robust September quarter with net profit up, revenue up 51.3%, and strong growth in transmission and distribution. — [Source](https://www.thehindu.com/business/Industry/adani-energy-solutions-profit-more-than-doubles-to-1364-crore/article71612676.ece)
- 2026-10-22 — Times of India: **Adani Energy Solutions’ Q2 PAT rises 145% to Rs 1,364 crore** — Adani Energy Solutions Q2 FY27 PAT jumps 145% to Rs 1,364 crore; total income up 51% to Rs 10,239 crore, EBITDA up 67%; signs 2,500MW PPA. — [Source](https://timesofindia.indiatimes.com/city/ahmedabad/adani-energy-solutions-q2-pat-rises-145-to-rs-1364-crore/articleshow/135120430.cms)
- 2026-10-22 — Economic Times: **Adani Energy's 'smart' bet comes with a Rs 29,519 crore revenue potential** — Adani Energy Solutions has 24.6 million smart meters under implementation across 10 projects, carrying a revenue potential of over Rs 29,519 crore. With 14.82 million meters installed cumulatively by September 2026, execution will be key to unlocking this opportunity, alongside a Rs 87,000 crore transmission project pipeline and expanding energy solutions. — [Source](https://economictimes.indiatimes.com/industry/energy/power/adani-energys-smart-bet-comes-with-a-rs-29519-crore-revenue-potential/articleshow/135116425.cms)
- 2026-10-22 — The Hindu: **Transmission delays cost Adani Green potential ₹724 cr in H1 FY27 EBITDA; Khavda curtailment bites** — Adani Green Energy Ltd (AGEL) estimates that power curtailment due to transmission constraints reduced its potential earnings before interest, tax, depreciation and amortisation (EBITDA) by about ₹724 crore in the first half of FY27, as delays in a key transmission corridor at Gujarat’s Khavda renewable energy park restricted its ability to evacuate power. — [Source](https://www.thehindubusinessline.com/companies/transmission-delays-cost-adani-green-potential-724-cr-in-h1-fy27-ebitda-khavda-curtailment-bites/article71611064.ece)
- 2026-10-22 — The Hindu: **Adani Energy Solutions Q2 profit jumps 148% to ₹1,323 cr** — Adani Energy Solutions Ltd (AESL) on Thursday reported a 148 per cent year-on-year rise in consolidated net profit to ₹1,323 crore for the September quarter of FY27, supported by strong growth in its transmission and energy solutions businesses. — [Source](https://www.thehindubusinessline.com/companies/adani-energy-solutions-q2-profit-jumps-148-to-1323-cr/article71611051.ece)
- 2026-10-22 — Economic Times: **Adani Energy Q2 Results: Profit zooms 148% YoY to Rs 1,323 crore; revenue jumps 53%** — Adani Energy Q2 Results: Revenue from operations in the reporting period rose 53% YoY to Rs 10,076 crore. — [Source](https://economictimes.indiatimes.com/markets/stocks/earnings/adani-energy-q2-results-profit-zooms-148-yoy-to-rs-1323-crore-revenue-jumps-53/articleshow/135114324.cms)
- 2026-10-22 — Mint: **Q2 results 2026 today, schedule: Swiggy, Adani Energy, HPCL 53 more firms to declare quarterly earnings; Oct 22 Tue list** — Q2 results 2026 today, schedule: Key companies set to declare their quarterly earnings today include Swiggy, Adani Energy Solutions, Hindustan Petroleum Corporation, Adani Total Gas, Colgate Palmolive (India). — [Source](https://www.livemint.com/market/stock-market-news/q2-results-2026-today-schedule-swiggy-adani-energy-hpcl-53-more-firms-to-declare-quarterly-earnings-oct-22-tue-list-11792636869326.html)

## Business profile

**Strategic vision:** Electric power transmission and distribution company facilitating energy security.

### Business segments
- **Power Transmission:** Adani Energy Solutions operates a significant network for power transmission.
- **Power Distribution:** The company is involved in distributing power to a large customer base.
- **Smart Metering:** This segment focuses on smart metering solutions.
- **Commercial & Industrial:** Adani Energy Solutions provides energy solutions tailored for commercial and industrial clients.
- **Cooling Solutions:** The company also offers cooling solutions as part of its energy offerings.
- **Tech & Innovation:** A focus on technology and innovation underpins its various business segments.

### Competitive strengths
- Facilitating India's energy security through extensive power transmission and distribution networks.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/adaniensol
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