Adani Energy Solutions Ltd.

NSE: ADANIENSOL · Power

₹1,457.40+0.74%06 Nov 2026

Ask the data

Instant answers about Adani Energy Solutions Ltd. — computed from its filings, no language model

Market cap₹1,78,233 cr

Current price₹1,457.40

High / Low₹1,742 / ₹813

P/E48.1

P/B5.69

Book value₹256.0

ROE11.8%

ROCE11.0%

Debt / equity1.65

Dividend yield—

EPS (TTM)₹30.32

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 8 periods

	FY18	FY19	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	3,944	7,305	9,926	11,258	13,293	16,607	23,767	27,588
EBITDA	2,826	2,762	3,950	4,206	4,518	6,171	8,407	9,084
Operating margin	71.6%	37.8%	39.8%	37.4%	34.0%	37.2%	35.4%	32.9%
Interest	886	1,391	2,117	2,365	2,781	2,767	3,259	3,633
Depreciation	579	882	1,329	1,427	1,608	1,776	1,906	1,978
Profit before tax	1,472	840	1,620	1,700	1,712	1,780	2,416	4,210
Tax	329	281	424	436	435	580	179	722
Net profit	1,143	0	1,224	1,205	1,256	1,137	1,060	2,283
EPS ₹	9.94	1.43	9.02	8.90	11.10	12.87	16.14	24.68
Operating cash flow	—	—	—	4,097	3,777	6,038	8,695	10,997
Capex	—	—	—	4,191	4,702	5,430	9,378	14,432
Dividend paid	—	—	—	0	0	86	0	0
Total assets	17,265	32,661	43,234	47,464	53,932	58,579	73,960	92,835
Equity	6,056	8,043	7,816	8,819	11,662	12,642	22,068	25,428

Quarterly performance

last 32 quarters · ₹ crore

showing latest 8 of 32 periods

	MAR '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	810	1,391	2,830	2,546	2,858	2,593	2,778	2,447	2,156	2,597	2,727	2,787	2,479	2,912	2,975	3,251	3,552	3,358	3,664	3,674	4,563	4,707	5,379	6,184	5,830	6,375	6,819	6,596	6,730	7,443	9,711	10,076
Operating profit	491	611	1,026	871	1,195	1,077	1,109	1,156	962	1,004	827	1,363	892	901	945	1,164	1,478	1,203	1,574	1,505	1,527	1,566	2,244	1,787	2,125	2,251	2,315	2,289	2,336	2,145	3,008	3,101
Operating margin	60.6%	43.9%	36.3%	34.2%	41.8%	41.5%	39.9%	47.3%	44.6%	38.7%	30.3%	48.9%	36.0%	30.9%	31.8%	35.8%	41.6%	35.8%	43.0%	41.0%	33.5%	33.3%	41.7%	28.9%	36.5%	35.3%	33.9%	34.7%	34.7%	28.8%	31.0%	30.8%
Other income	68	66	91	24	32	45	58	96	150	137	149	149	196	174	191	125	168	137	108	93	262	148	111	176	170	222	206	171	215	145	141	164
Interest	226	324	570	436	532	493	516	631	536	455	494	614	540	560	650	714	697	630	616	641	760	750	811	813	809	826	894	872	913	954	1,152	1,180
Depreciation	143	218	346	276	285	291	294	378	314	325	312	342	353	363	370	398	410	416	419	432	458	468	498	484	462	462	465	509	496	508	585	601
Profit before tax	190	135	201	215	409	338	358	244	296	472	370	556	396	144	116	177	538	294	647	370	571	496	-460	666	1,024	1,185	1,162	1,079	1,141	828	1,441	1,484
Tax	39	27	26	68	137	63	131	149	105	32	138	97	98	118	123	55	122	224	160	85	166	169	137	-179	-66	287	119	189	227	187	156	403
Net profit	150	95	189	0	213	230	204	384	207	395	238	435	273	267	230	206	475	389	175	276	325	361	-824	675	562	647	512	534	552	684	1,149	1,323
EPS ₹	0.92	0.12	1.01	0.51	2.69	2.54	2.08	2.91	1.37	3.08	1.67	3.39	1.90	1.85	1.75	1.45	3.92	3.49	1.57	2.47	2.92	2.94	-7.39	6.09	4.85	6.57	6.88	6.19	6.34	5.27	9.57	11.01
Revenue YoY	—	—	—	214.3%	—	86.5%	-1.9%	-14.4%	-16.9%	-6.5%	—	13.9%	15.0%	12.1%	9.1%	31.1%	22.0%	12.9%	—	13.0%	28.5%	40.2%	46.8%	68.3%	27.8%	35.4%	26.8%	6.7%	15.4%	16.8%	42.4%	52.8%
Profit YoY	—	—	—	-100.0%	—	142.0%	7.6%	79.7%	-10.3%	94.1%	—	13.5%	31.8%	-32.5%	-3.7%	-24.4%	77.8%	69.6%	—	33.8%	-31.6%	-7.2%	-570.7%	144.7%	72.9%	79.0%	—	-20.9%	-1.7%	5.7%	124.2%	147.7%

Earlier results (standalone, Jun '15 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Adani Energy Solutions Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY16†	FY17†
Revenue	274	810
Operating profit	68	25
Operating margin	24.8%	3.1%
Other income	147	799
Interest	269	819
Depreciation	0	0
Profit before tax	-54	5
Tax	0	1
Net profit	-54	4

Quarters

showing latest 8 of 11 periods

	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	31	35	50	158	31	192	240	347	124	243	242
Operating profit	19	13	15	22	-6	4	13	14	4	-0	-10
Operating margin	59.9%	37.2%	29.1%	13.9%	-19.4%	2.0%	5.4%	4.1%	3.4%	-0.2%	-4.2%
Other income	1	10	42	95	141	213	213	231	188	180	190
Interest	44	41	66	118	161	232	218	207	187	200	212
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	-25	-18	-10	-1	-26	-15	8	38	5	-21	-32
Tax	0	0	0	0	0	0	0	1	1	-1	0
Net profit	-25	-18	-10	-1	-26	-15	8	37	4	-20	-32
EPS ₹	-0.22	-0.16	-0.09	-0.01	-0.24	-0.14	0.07	0.34	0.03	-0.18	-0.29
Revenue YoY	—	—	—	—	0.2%	443.7%	380.6%	119.2%	300.9%	26.8%	1.0%
Profit YoY	—	—	—	—	—	—	—	—	—	—	-511.7%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 22 periods

	JUN '19	SEP '19	DEC '19	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	6.2%	7.9%	8.1%	15.7%	16.3%	17.2%	15.5%	13.7%	10.7%	11.1%	9.8%	9.0%	1.1%	2.6%	3.7%	4.8%	10.9%	9.6%	9.6%	9.0%	11.5%	11.8%
ROCE	10.9%	12.3%	12.7%	10.1%	10.9%	11.2%	10.6%	9.3%	9.4%	9.3%	9.5%	9.8%	7.9%	7.4%	8.2%	9.1%	11.8%	11.4%	11.7%	10.6%	11.3%	11.0%
Net margin	5.2%	5.8%	6.0%	12.3%	12.4%	12.7%	11.1%	10.8%	9.0%	9.2%	7.6%	6.8%	0.8%	2.6%	3.5%	4.5%	9.5%	8.8%	8.5%	8.3%	9.6%	10.9%
EBITDA margin	38.5%	38.5%	39.5%	39.8%	40.5%	38.6%	36.5%	36.8%	39.2%	40.4%	38.1%	37.2%	37.3%	34.2%	34.9%	35.4%	33.6%	35.0%	34.7%	32.9%	32.1%	31.2%
Debt / equity	2.23	2.23	2.23	3.45	3.45	3.45	3.45	3.38	2.93	3.02	3.02	2.93	2.93	1.86	1.86	1.82	1.82	1.94	1.94	1.92	1.92	1.65
Interest coverage	1.52	1.57	1.67	1.65	1.81	1.85	1.66	1.51	1.62	1.72	1.71	1.75	1.33	1.41	1.54	1.74	2.21	2.31	2.30	2.16	2.15	2.17
Asset turnover	0.29	0.33	0.33	0.23	0.24	0.24	0.25	0.23	0.26	0.26	0.27	0.28	0.31	0.30	0.32	0.32	0.34	0.31	0.32	0.30	0.33	0.33

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 17 periods

	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	1,090	1,100	1,100	1,100	1,100	1,100	1,100	1,100	1,115	1,115	1,115	1,115	1,201	1,201	1,201	1,201	1,223
Other equity / reserves	-7	1,572	1,847	4,957	6,943	6,337	6,716	7,719	9,520	10,547	10,782	11,526	19,784	20,867	22,183	24,226	30,081
Total equity	1,083	2,672	2,947	6,056	8,043	7,437	7,816	8,819	10,636	11,662	11,898	12,642	20,985	22,068	23,384	25,428	31,304
Borrowings	8,898	7,939	8,660	9,605	17,937	23,525	26,961	29,815	33,519	34,199	35,963	37,009	38,951	40,206	45,374	48,898	51,520
Current liabilities	—	3,971	1,884	2,328	6,418	—	6,417	5,657	6,635	7,017	6,231	7,963	7,726	9,923	12,603	15,446	16,560
Non-current liabilities	—	5,103	7,980	8,881	17,928	—	26,522	30,529	33,017	34,154	36,535	36,859	39,488	40,932	45,544	50,741	54,198
Total assets	11,492	11,746	12,811	17,265	32,661	39,711	43,234	47,464	51,564	53,932	55,730	58,579	69,107	73,960	82,673	92,835	1,03,300
Property, plant & equipment	10,259	9,747	9,533	8,970	22,837	23,100	25,166	27,905	28,953	30,295	33,942	36,437	35,725	37,049	36,980	44,227	43,782
Capital work-in-progress	10	258	1,343	2,353	694	2,209	5,240	5,060	5,404	6,200	4,134	3,003	4,355	5,695	6,991	2,054	3,103
Investments	0	20	105	0	336	313	442	561	527	1,370	821	766	1,608	9,402	1,832	2,644	3,460
Inventories	21	22	39	35	366	541	234	250	201	152	189	255	356	625	711	669	520
Receivables	449	182	190	258	722	1,000	1,014	1,071	1,694	1,438	1,514	1,565	4,423	4,324	6,239	5,836	7,539
Cash & equivalents	15	9	13	609	188	1,233	264	189	137	191	507	742	2,364	2,190	2,622	1,735	2,364

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 12 periods

	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	-35	1,544	2,189	2,198	2,591	5,437	3,784	4,097	3,777	6,038	8,695	10,997
Cash from investing	-1,865	-816	-1,761	-3,211	-3,138	-5,643	-4,025	-3,948	-4,699	-4,943	-15,228	-14,083
Cash from financing	1,902	-722	-455	1,589	38	1,250	-745	-235	923	-543	7,975	2,630
Capex	—	—	—	—	—	2,763	3,952	4,191	4,702	5,430	9,378	14,432
Free cash flow	—	—	—	—	—	2,675	-168	-94	-925	608	-683	-3,435
Dividends paid	—	—	—	—	—	—	—	0	0	86	0	0

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹43,782 cr42%

CWIP

₹3,103 cr3%

Investments

₹3,460 cr3%

Inventories

₹520 cr1%

Receivables

₹7,539 cr7%

Cash & equivalents

₹2,364 cr2%

Other assets

₹42,533 cr41%

Peer comparison

largest in Power · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Adani Power Ltd.	3,93,967	204.29	21.6	5.13	23.7%
NTPC Ltd.	3,13,639	323.45	10.6	1.47	13.9%
Power Grid Corporation of India Ltd.	2,41,723	259.90	14.9	2.26	15.2%
Adani Green Energy Ltd.	2,34,549	1,424.10	125.2	10.86	8.7%
Adani Energy Solutions Ltd.	1,78,233	1,457.40	48.1	5.69	11.8%
Tata Power Co. Ltd.	1,12,645	352.50	29.2	2.85	9.8%
JSW Energy Ltd.	96,224	524.95	41.5	2.62	6.3%
NHPC Ltd.	82,450	82.08	19.1	1.88	9.9%
NTPC Green Energy Ltd.	69,627	82.63	106.0	3.59	3.4%
Torrent Power Ltd.	64,051	1,271.10	26.5	3.05	11.5%

StoxGud checklist: Bullish setup · 7/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+10.5%

6 months+5.1%

1 year+50.6%

3Y CAGR+23.6%

5Y CAGR-4.6%

10Y CAGR+41.3%

50-day avg₹1,367.68

200-day avg₹1,323.50

RSI (14)60

Compare Adani Energy Solutions Ltd. with

Adani Power vs Adani Energy Solutions NTPC vs Adani Energy Solutions Power Grid Corporation of India vs Adani Energy Solutions Adani Green Energy vs Adani Energy Solutions Adani Energy Solutions vs Tata Power Co.

FAQs

What is the share price of Adani Energy Solutions Ltd.?

Adani Energy Solutions Ltd. (ADANIENSOL) closed at ₹1,457.40 on NSE on 06 Nov 2026.

What is the market cap of Adani Energy Solutions Ltd.?

₹1,78,233 crore at the latest close.

What is the P/E ratio of Adani Energy Solutions Ltd.?

48.1, on trailing-twelve-month earnings from its filings.

How fast is Adani Energy Solutions Ltd. growing?

Adani Energy Solutions Ltd.: revenue has compounded at 27.6% a year over three years; net profit at 22.0% a year. Latest-quarter revenue is up 52.8% year on year, profit up 147.7%.

How profitable is Adani Energy Solutions Ltd.?

On a trailing-twelve-month basis return on equity is 11.8%, return on capital employed 11.0%, operating margin 31.2%, net margin 10.9%.

How much debt does Adani Energy Solutions Ltd. have?

Adani Energy Solutions Ltd. is highly geared: debt to equity is 1.65 with borrowings of ₹51,520 cr against cash of ₹2,364 cr (balance sheet of 2026-09-30). Operating profit covers interest 2.2 times.

Financials parsed from Adani Energy Solutions Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '15. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.