Adani Energy Solutions Ltd

Adani Energy Solutions Limited (AESL) reported strong financial performance in Q2 and H1 FY27, with total income growing over 50%, EBITDA increasing by nearly 67%, and PAT rising by 145%. The company highlighted its focus on long-term utility asset development, with an asset base of INR83,000 crores and INR100,000 crores in committed capex over the next 4-5 years. Transmission added two projects (Vizag Pendurthi and Satara), maintaining an order book of INR87,000 crores. Distribution losses in Mumbai fell to 4.29%, despite a 10% rise in consumption. Smart Metering reached 14.8 million installations, with 60% of the order book completed. The Energy Solutions platform delivered INR2,000 crores in revenue and INR800 crores in EBITDA, with 2,500 MW of MSEDCL PPA and plans to scale to 7,000-8,000 MW over 3-4 years. Management noted delays in some Transmission projects due to ROW issues but expects resolution soon. The company emphasized ESG initiatives, achieving a 90/100 rank in S&P Global Electric Utility. Funding was described as stable, with fixed-rate debt reducing volatility. The Intellismart acquisition awaits CCI approval, expected within a month. AESL guided toward INR6,000-9,000 crores in capex for FY27 and INR18,000-19,000 crores for FY28. The company also discussed energy trading margins, with long-term PPAs aiming for INR0.80-1.00 per unit.

The document emphasizes strong financial growth, strategic expansion, and confidence in future projects and ESG performance.