In Week of Mar 28, 2026, Adani Energy Solutions Ltd (Power - Transmission/Equipment) is outperforming Nifty 500 with +5.8% relative strength. Fundamentals: Weak. On a 5-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 (ended December 31, 2025) earnings • Updated Feb 28, 2026
What: Completion of HVDC and other transmission projects adding ~₹4,800 cr annual revenue
Impact: +₹4800 Cr revenue
“We are on track to commission three more, including a landmark HVDC project. AESL has also won another HVDC project, KPS-III, bringing its project pipeline to approximately ₹78,000 crores.”
What: Revenue potential of ₹1,600 cr annually from smart meter installation business
Impact: +₹1600 Cr revenue
“By going or reaching a number 2.5 crores, which probably we are targeting by the end of next fiscal, that number would probably go up somewhere in the range of close to ₹3,500 crores or ₹4,000 crores.”
What: Rapid growth in Commercial & Industrial power business serving 31 consumers
“The C&I business is showing rapid growth, with the aggregate load increasing to 1,300 megawatts serving 31 consumers.”
Earnings deceleration risks from management commentary
Trigger: Bidding remains below ₹80,000 cr annual market
Impact: -150 bps margin impact
Management view: This year, it got a little slowed down because there were certain transmission projects that they wanted to revaluate depending on the change in the generation and demand profile in the country.
Monitor: New project awards quarterly
Trigger: Interest rates rise >100bps or project delays
Impact: -50 bps margin impact
Management view: Not explicitly addressed in transcript
Monitor: Net Debt/EBITDA ratio
Key quotes from recent conference calls
“We have commissioned 4 transmission projects in the first 9 months of FY26 and are on track to commission 3 more, including a landmark HVDC project. — Kandarp Patel”
“EBITDA during Q3 reached record high to Rs 2,210 crore, up 21% YoY, driven by robust growth in transmission and smart metering segment and steady performance in distribution segment — Management”
“AESL has also won another HVDC project, KPS-III, bringing its project pipeline to approximately ₹78,000 crores. — Management”
“We expect to capitalize on approximately 7 projects in the current and next financial years, adding ~₹25,000 crores to its gross block. — Management”
Forward-looking targets from management for Next 2-4 quarters
Implied PAT Growth
20%
Capex Plan
₹15000 Cr
Key Milestones
• Commission 3 transmission projects by FY26 end
• Reach 1 crore smart meters by FY26 end
• Target 2.5 crore smart meters by FY27 end
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +15% | +28% | Stable |
| PAT (Net Profit) | -8% | -9% | Inflection Down |
| OPM | 30.0% | +200 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 28, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Adani Energy Solutions Ltd's latest quarterly results (Dec 2025) show
Adani Energy Solutions Ltd's profit is declining with an inflecting downward trend.
Adani Energy Solutions Ltd's revenue growth trend is stable.
Adani Energy Solutions Ltd's operating margin is volatile.
Adani Energy Solutions Ltd's long-term compounding rates
Adani Energy Solutions Ltd's earnings growth is inflecting downward with mixed signals on a sequential basis.
Adani Energy Solutions Ltd's trailing twelve month (TTM) performance
Adani Energy Solutions Ltd appears fairly valued based on our fair value analysis.
Adani Energy Solutions Ltd's current PE ratio is 51.1x.
Adani Energy Solutions Ltd's current PE is 51.1x.
Adani Energy Solutions Ltd's price-to-book ratio is 4.9x.
Adani Energy Solutions Ltd is rated Weak with a fundamental score of 38.73/100. This score is calculated from objective financial metrics
Adani Energy Solutions Ltd has a debt-to-equity ratio of N/A.
Adani Energy Solutions Ltd's return ratios over recent years
Adani Energy Solutions Ltd's operating cash flow is positive (FY2025).
Adani Energy Solutions Ltd currently does not pay a significant dividend (yield 0.00%).
Adani Energy Solutions Ltd's shareholding pattern (Dec 2025)
Adani Energy Solutions Ltd's promoter holding has remained stable recently.
Adani Energy Solutions Ltd has been outperforming Nifty 500 for 5 consecutive weeks, indicating building momentum.
Adani Energy Solutions Ltd is an established outperformer with 5 weeks of consecutive Nifty 500 outperformance.
Adani Energy Solutions Ltd has 3 key growth catalysts identified from recent earnings analysis
Adani Energy Solutions Ltd has 2 key risks worth monitoring
In Q3 FY26 (ended December 31, 2025), Adani Energy Solutions Ltd's management highlighted
Adani Energy Solutions Ltd's management has provided the following forward guidance for Next 2-4 quarters
Based on quantitative research signals, here is why Adani Energy Solutions Ltd may be worth studying
Adani Energy Solutions Ltd investment thesis summary:
Adani Energy Solutions Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
