Adani Energy Solutions Ltd. share price target

ADANIENS execution has been strong across segments Smart meter eyeing opportunity but stock valuation rich ADANIENS reported a steady performance with Q4FY26/FY26 EBITDA (ex-SCA) growing ~13% YoY. And the growth trajectory is expected to materially accelerate over FY2728E, with EBITDA estimated to rise by ~42% and ~24% YoY, respectively, driven by significant capitalization of ~INR 210bn in FY27E and ~INR 130bn in FY28E across transmission, distribution, and smart metering segments. The transmission business continues to provide strong visibility, with the order book increasing to INR 718bn in...

Rating: ACCUMULATE | CMP: Rs961 | TP: Rs1,090 Powering on multi-engine growth model Vishal Periwal vishalperiwal@plindia.com | 91-22-63782549...

AESL delivered a robust performance in Q3FY26, with net sales rising 15.4% YoY to Rs67.3Bn and EBITDA increasing 20% YoY to Rs20Bn. The transmission growth remained tepid at 4.2%/-5.1% YoY/QoQ, due to delays in project commissioning. However, the smart meter roll-out was above expectations at 9.25Mn cumulative meters installed. The Distribution segment delivered a stable performance, with RAB at Rs93.42Bn as of this quarter, recording a growth of 22% YoY. AESL won the bid for the coveted Khavda South Olpad HVDC project, pegged at NTC project cost of approx. Rs120Bn and a levelised tariff of...

We initiate coverage on Adani Energy Solutions (ADANIENS) with a BUY rating and a TP of Rs1,195/share. AESL, with presence in various facets of the energy domain is a leading energy solution provider in transmission and distribution segments. AESL is well-poised in the smart-metering business and chasing growth via the energy solutions business. With a strong order book in smart meters' division and work-in-hand in the transmission divisions, we project an...

Adani Energy Solutions (AESL) reported a good set of Q1FY26 results – revenue was INR 63bn (+32% YoY), EBITDA came in at INR 18bn (+10% YoY) and profit was INR 5.1bn (vs. losses of INR 8.2bn YoY; losses booked in base quarter due to Dahanu plant divestment).

Strong fundamentals fueling a resilient growth

Company Update

Adani Energy Solutions Limited (AESL) is operating a mix of regulated and unregulated businesses. It has transitioned from operating regulated transmission assets to becoming a leader in competitively built transmission.

Becoming a one-stop-solution provider in power sector

Update Sept 2022 HOLD' for long term gains