# Adani Energy Solutions share price today (Adani Energy Solutions Ltd, NSE: ADANIENSOL)

> Adani Energy Solutions share price today: ₹1,369.60 at the NSE close on 3 November 2026, up 38.9% in a year. Adani Energy Solutions (NSE: ADANIENSOL) is worth ₹1,67,434 crore, trades at a P/E of 45.1 and has closed between ₹812.70 and ₹1,722.60 over the past 52 weeks. > Adani Energy Solutions Ltd's earnings have grown faster than its share price. Earnings per share grew +115.4% in a year while the price moved +38.9%. ADANIENSOL · Power - Transmission/Equipment · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/adani-energy-solutions-ltd

Adani Energy Solutions is one of the companies compared in a full read in the Sector Alpha newsletter: https://newsletter.sectoralpha.in/p/deep-dive-why-e2e-is-beating-nifty?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹1,369.60 (+38.9% in a year)
- P/E: 45.1× (lower than 60% of the last 11 years)
- Revenue (Sep 2026): ₹10,076 Cr (+52.8% on a year ago)
- Profit (Sep 2026): ₹1,364 Cr (+144.9% on a year ago)
- Operating margin: 31.0% (+1.0 points on a year ago)
- ROCE: 10%, FY26
- Profit that came in as cash: 578%, last 3 years

The main question: yearly earnings per share moved +115.4% while the share price moved +38.9%. ## What is the Adani Energy Solutions share price today? Adani Energy Solutions Ltd's share price was ₹1,369.60 at the close on 3 November 2026. It has been rising for 53 weeks. That is 3.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹813 and ₹1,723, and at that close it sat 61% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 10 weeks running. Over the last 11 years the share price moved +4,304% while the NIFTY 500 moved +249%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 28 August 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Adani Energy Solutions this quarter? 1. Indian funds and insurers (DIIs) raised their stake for 11 quarters in a row From 3.8% to 13.6% of the company by the September 2026 quarter. 2. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹10,076 crore, +52.8% on a year earlier. Why: Revenue rose because the energy solutions business moved past its early stage and started adding long-term supply deals and more customers. From the earnings call on 23 Oct 2026. ## What are Adani Energy Solutions' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Adani Energy Solutions reported revenue of ₹10,076 crore, up 52.8% from ₹6,596 crore a year earlier, and a profit of ₹1,364 crore, up 144.9% from ₹557 crore. ### Adani Energy Solutions results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹10,076 crore | ₹6,596 crore | +52.8% |
| Profit | ₹1,364 crore | ₹557 crore | +144.9% |
| Earnings per share | ₹10.82 | ₹4.44 | +143.7% |
| Operating margin | 31.0% | 30.0% | +1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Adani Energy Solutions' management discussed these results on a call held on 23 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Adani Energy Solutions share price history? Adani Energy Solutions closed at ₹1,369.60 on 3 November 2026, up 38.9% from ₹986.20 a year earlier (31 October 2025) and down 24.6% over five years. Its highest weekly close since March 2016 was ₹4,094.75 on 16 September 2022. ### Adani Energy Solutions share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,219.85 | +12.3% |
| 1 month ago · 1 Oct 2026 | ₹1,325.50 | +3.3% |
| 6 months ago · 30 Apr 2026 | ₹1,342.25 | +2.0% |
| 1 year ago · 31 Oct 2025 | ₹986.20 | +38.9% |
| 3 years ago · 3 Nov 2023 | ₹765.50 | +78.9% |
| 5 years ago · 4 Nov 2021 | ₹1,817.50 | −24.6% |
| 10 years ago · 4 Nov 2016 | ₹45.55 | +2,906.8% |
| Earliest weekly close in our records · 4 Mar 2016 | ₹31.10 | +4,303.9% |
| Highest weekly close since March 2016 · 16 Sep 2022 | ₹4,094.75 | −66.6% |
| Lowest weekly close since March 2016 · 20 May 2016 | ₹28.65 | +4,680.5% |
| 52-week high (weekly close) · 17 Jul 2026 | ₹1,722.60 | −20.5% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹812.70 | +68.5% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 4 March 2016 to 3 November 2026.)

## What is the latest news on Adani Energy Solutions? 3 Nov 2026: Adani Energy Solutions closed at ₹1,369.60, up 12.3% on the week and up 3.3% on the month. 23 Oct 2026: Adani Energy Solutions held its results call for July to September 2026. Management guided: Transmission capital spending about ₹14,000 crore in FY27 with ₹8,000-9,000 crore in H2 and ₹18,000-19,000 crore in FY28. ### Earlier

- Results for July to September 2026: Revenue up 52.8% and profit up 144.9% on a year earlier. ## What dividend does Adani Energy Solutions pay? Adani Energy Solutions has paid no dividend on the NSE since 1 April 2021, the start of the period we checked. No. Adani Energy Solutions Ltd paid out 0% of its profit as dividends in each of its last 12 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Adani Energy Solutions management say on the latest results call? On the call for July to September 2026, held on 23 October 2026, Adani Energy Solutions' management guided: Transmission capital spending about ₹14,000 crore in FY27 with ₹8,000-9,000 crore in H2 and ₹18,000-19,000 crore in FY28. > “Currently, we have an asset base of about 83,000 crore, and we have already logged capex of more than 1 lakh crore, which we will be delivering over the next 4-5 years.”
> Kandarp Patel, on the call for July to September 2026

### What management guided

- Transmission capitalisation held around ₹15,000 crore in FY27 including close to ₹9,000 crore certain projects and around ₹10,000 crore in FY28 with HVDC lump thereafter. - Smart-meter orderbook balance to complete in 12-14 months with H2 installation pace sharply higher. - Energy Solutions consumer-stack tie-ups 7,000-8,000 MW over next 3-4 years matched with higher sourcing. - MSEDCL 1,000 MW end-Feb, 1,000 MW end-Apr, 500 MW end-Jul with AEML 750 MW execution in 3-4 weeks for delivery 2 years after signing. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/19737/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 23 October 2026.)

## What to watch in Adani Energy Solutions' next results? When Adani Energy Solutions reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: WRSR, Halvad and Khavda Phase-4 commissioning against held capitalisation guide with ROW clearance as check. - What to check (from the call)
- WRSR, Halvad and Khavda Phase-4 commissioning against held capitalisation guide with ROW clearance as check. - First MSEDCL tranche delivery on phased schedule with sourcing coverage and merchant-to-contracted margin shift as check. - Smart-meter daily installation rebound in Maharashtra and Bihar against balance completion timeline and H2 pace as check. - IntelliSmart transaction closure upon pending clearance within guided window with funding and integration as check. ## Which stock lists is Adani Energy Solutions on? Adani Energy Solutions is on one of our India lists: Power & green energy stocks. [Power & green energy stocks Group on the list: Power transmission and trading](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is Adani Energy Solutions profitable? Adani Energy Solutions Ltd earned ₹1,364 Cr of net profit in the Sep 2026 quarter, +144.9% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹2,393 Cr. Over 10 years profit has grown 20.6% a year on average. That is 13.5% of the quarter's revenue. The same quarter a year earlier earned ₹557 Cr. 1 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹2,393 Cr (+159.5% on the year before). Why profit moved: revenue changed +52.8% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +66.9% and revenue +31.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Adani Energy Solutions make, and is it growing? Adani Energy Solutions Ltd reported ₹10,076 Cr of revenue in the Sep 2026 quarter, +52.8% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 28.8% a year on average. The last full year, FY26, came in at ₹27,588 Cr. The last four reported quarters add to ₹33,960 Cr. FY26 revenue was ₹27,588 Cr, +16.1% on the year before. Recent pace: the last four quarters grew +31.8% on average, against 28.8% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +32.6%, against +27.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +60.1%, against +254.0% a year (rolling over). ## How much of every ₹100 of sales does Adani Energy Solutions keep? Adani Energy Solutions Ltd's operating margin was 31.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 12 years it has been between 29.0% and 88.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +1.1 percentage points on the year while gross margin changed −6.8 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Adani Energy Solutions' profit turning into cash? Over the last 3 years, 578% of Adani Energy Solutions Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹10,997 Cr of operating cash against ₹2,393 Cr of profit. After ₹5,579 Cr of spending on assets, ₹5,418 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Adani Energy Solutions' cash go? Adani Energy Solutions Ltd's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹27,588 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹15,673 Cr on assets over the last 3 years. Averaged over those years that is 18.9% of FY26 revenue a year. Spending on assets: ₹15,673 Cr over the last 3 years, against ₹5,660 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2,054 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Adani Energy Solutions' P/E ratio, and how does it compare with its own history? Adani Energy Solutions Ltd's P/E is 45.1×, in the middle of its own history: higher than 40% of past readings. Its usual P/E (the middle reading) is 53.0×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹30.68. Why the multiple is where it is: over the past year earnings per share moved +115.4% while the price moved +38.9%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −5.5% a year; about +20.0% a year came from earnings growth and about −25.5 percentage points from the multiple (the market paying less); over 10 years the price moved +40.5% a year; about +24.6% a year came from earnings growth and about +15.9 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 85% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Adani Energy Solutions business getting better or worse? Adani Energy Solutions Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +494.2% at its peak to +60.1%, but the business is still expanding, with ROCE steady at 10.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does Adani Energy Solutions earn on its capital? Adani Energy Solutions Ltd earned a ROCE of 10% in FY26. That is up from a low of 1% in FY15. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 8.7% net margin and 0.30× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 8.7% net margin × 0.30× asset turnover × 3.65× leverage (assets divided by equity) ≈ 9.5% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 85% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Adani Energy Solutions have too much debt? Adani Energy Solutions Ltd had ₹49,176 Cr of borrowings against ₹25,427 Cr of equity in FY26, so its debt is 1.93× its equity. Its operating profit is 2 times its interest bill. Over 5 years borrowings went from ₹27,095 Cr to ₹49,176 Cr. Over the last 3 of those years it spent ₹15,673 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 85% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Adani Energy Solutions shareholding pattern? Foreign institutions cut their stake in Adani Energy Solutions Ltd by 7.8 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 9.6% of the company. Domestic institutions moved +7.8 points over the same period, to 13.6%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −7.8 points over 8 quarters, to 9.6%; Domestic institutions: +7.8 points over 8 quarters, to 13.6%; Promoters: +3.5 points over 8 quarters, to 73.4%. Why the owners changed: foreign institutions moved −7.8 points and domestic institutions +7.8 points over 8 quarters, while promoters moved +3.5 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Adani Energy Solutions from balance-sheet trouble? For Adani Energy Solutions Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Adani Energy Solutions rank in its industry? 61.7 out of 100, rank 1 of 3 in Power - Transmission/Equipment, with 72% of the evidence available. Adani Energy Solutions Ltd scores 61.7 out of 100 against the 3 companies it is compared with in Power - Transmission/Equipment, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 26.2 + 11.5 + 10 + 14 = 61.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Adani Energy Solutions compared with? Adani Energy Solutions ranks 1 of 3 Power - Transmission/Equipment companies on the 4-Factor Sector Score, with 61.7 out of 100. 1. Adani Energy Solutions Ltd this page ADANIENSOL · quiet · Evidence leans up · 72% evidence 61.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.2/35 · Revenue 32.5% · Profit 60.1% · Operating margin change 1 points · 95% evidence Capital efficiency 11.5/25 · ROCE 9.7% · Operating margin 31% · 76% evidence Valuation 10.0/20 · P/E 44.5× · PEG n/a · 0% evidence Relative strength 14.0/20 · Lead over its industry 22% · Lead over NIFTY 500 12.9% · 1 year 36.4% · 100% evidence · 2 of 12 weeks ahead Exact sum: 26.2 + 11.5 + 10 + 14 = 61.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Power Grid Corporation of India Ltd](https://www.sectoralpha.in/stocks/power-grid-corporation-of-india-ltd) POWERGRID · turning · Evidence leans down · 93% evidence 45.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.3/35 · Revenue 2.3% · Profit 3% · Operating margin change 1 points · 88% evidence Capital efficiency 9.9/25 · ROCE 9.1% · Operating margin 82% · 100% evidence Valuation 8.0/20 · P/E 15.5× · PEG 2.1 · 85% evidence Relative strength 17.1/20 · Lead over its industry 6.4% · Lead over NIFTY 500 -0.8% · 1 year -8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.3 + 9.9 + 8 + 17.1 = 45.3 · What this means: Relative strength against the index is -0.8%, and revenue and profit growth are weak. 3. [KEC International Ltd](https://www.sectoralpha.in/stocks/kec-international-ltd) KEC · quiet · Evidence leans down · 78% evidence 41.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.6/35 · Revenue 5.1% · Profit -8.9% · Operating margin change -1 points · 88% evidence Capital efficiency 13.6/25 · ROCE 16.5% · Operating margin 6% · 100% evidence Valuation 12.8/20 · P/E 14.6× · PEG 1.58 · 85% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -36.4% · 1 year -59.7% · 25% evidence · 0 of 12 weeks ahead Exact sum: 7.6 + 13.6 + 12.8 + 7.5 = 41.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Power - Transmission/Equipment](https://www.sectoralpha.in/sectors/power-transmission-equipment), all 3 compared on one page. ## Which companies are close to Adani Energy Solutions in size? Adani Energy Solutions is the 2nd largest of 3 Power - Transmission/Equipment companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Power Grid Corporation of India. Just below it: KEC International. ### Power - Transmission/Equipment companies close in size

1. [Power Grid Corporation of India Ltd](https://www.sectoralpha.in/stocks/power-grid-corporation-of-india-ltd) ₹2,46,466 crore
2. Adani Energy Solutions Ltd ₹1,65,038 crore
3. [KEC International Ltd](https://www.sectoralpha.in/stocks/kec-international-ltd) ₹8,775 crore

[All 3 Power - Transmission/Equipment companies, largest first](https://www.sectoralpha.in/sectors/power-transmission-equipment#all-companies)

### Companies close in size in other industries

1. [Samvardhana Motherson International Ltd](https://www.sectoralpha.in/stocks/samvardhana-motherson-international-ltd) ₹1,66,792 crore · Auto Ancillaries - Diversified
2. [SBI Life Insurance Company Ltd](https://www.sectoralpha.in/stocks/sbi-life-insurance-company-ltd) ₹1,66,425 crore · Finance - Insurance
3. Adani Energy Solutions Ltd ₹1,65,038 crore
4. [Trent Ltd](https://www.sectoralpha.in/stocks/trent-ltd) ₹1,60,892 crore · Textiles - Readymade Apparel
5. [Hyundai Motor India Ltd](https://www.sectoralpha.in/stocks/hyundai-motor-india-ltd) ₹1,55,277 crore · Auto - 4 Wheelers

## What else do people ask about Adani Energy Solutions? ### What is Adani Energy Solutions's share price today? Adani Energy Solutions Ltd's share price is ₹1,369.60, +38.9% over the past year. The whole company is worth ₹1,67,434 Cr on the market. In the last 52 weeks it traded between ₹813 to ₹1,723; today it is 61% of the way up from the low, 3.5% above its 200-day average (as of 3 November 2026). ### What were Adani Energy Solutions's latest quarterly results? Adani Energy Solutions Ltd reported revenue of ₹10,076 Cr and net profit of ₹1,364 Cr for the Sep 2026 quarter. Revenue rose 52.8% and profit rose 144.9% compared with a year earlier. Earnings per share were ₹10.82. The operating margin was 31.0%, 1.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Adani Energy Solutions's market cap? Adani Energy Solutions Ltd's market capitalisation is ₹1,67,434 Cr at a share price of ₹1,369.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Adani Energy Solutions performing? Adani Energy Solutions Ltd's share price has been rising for 53 weeks. In its latest quarter, revenue rose 52.8% and profit rose 144.9% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 10 weeks running (as of 3 November 2026). ### Will Adani Energy Solutions's share price go up? This page does not forecast Adani Energy Solutions Ltd's share price. What it shows instead: the share price is ₹1,369.60, and it has been rising for 53 weeks. Its P/E of 45.1× is higher than 40% of its own last 11 years (as of 3 November 2026). ### Who owns Adani Energy Solutions? Promoters own 73.4% of Adani Energy Solutions Ltd, foreign institutions 9.6%, domestic institutions 13.6% and the public 3.4% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 7.8 percentage points over 8 quarters (as of 3 November 2026). ### Where is Adani Energy Solutions in its business cycle? Adani Energy Solutions Ltd's FY26 operating margin was 29.0%, against a 12-year range of 29.0% to 88.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 31.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Adani Energy Solutions story? The main question: yearly earnings per share moved +115.4% while the share price moved +38.9%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Adani Energy Solutions a stock worth studying right now? What the numbers show: Adani Energy Solutions Ltd's earnings have grown faster than its share price. Earnings per share grew +115.4% in a year while the price moved +38.9%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Adani Energy Solutions share price forecast for 2026? What management itself guided: Transmission capital spending about ₹14,000 crore in FY27 with ₹8,000-9,000 crore in H2 and ₹18,000-19,000 crore in FY28. ## Lists

- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

This is research, not advice. We’re not SEBI-registered.