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Adani Energy Solutions Ltd (AESL), India’s largest private power transmission and distribution firm, reported a robust financial performance for the quarter and half-year ended September 30, 2025, driven by double-digit growth in profitability and strong execution across projects.The company’s adjusted profit after tax (PAT) for the first half of FY26 jumped 42% year-on-year (YoY) to Rs 1,096 crore, backed by steady revenue growth, stable costs, and strong operating margins. Profit before tax (PBT) rose 34% YoY to Rs 1,404 crore, while EBITDA grew 13% YoY to a record Rs 4,144 crore.For the September quarter (Q2FY26), AESL’s adjusted PAT climbed 21% YoY to Rs 557 crore, and PBT expanded 25% YoY to Rs 745 crore, supported by steady performance in its transmission and distribution segments and rising contribution from its fast-growing smart metering business. The company’s total income stood at Rs 6,767 crore in Q2, up 6% from the previous year.AESL’s cash profit increased 14% YoY in both the quarter and half-year, reaching ₹1,167 crore in Q2FY26 and Rs 2,212 crore for the first half.On the operational front, the company’s transmission business maintained a system availability of 99.6%, adding 190 circuit kilometers during the quarter to take its total network to 26,705 ckm. AESL’s distribution arm, Adani Electricity Mumbai Ltd (AEML), delivered supply reliability of 99.99%, among the best in the country, with distribution losses contained at 4.36%.The smart metering vertical remained a key growth driver, with 42.4 lakh new meters installed in H1FY26, taking cumulative installations to 73.7 lakh — the highest by any Indian company. AESL aims to cross the 1-crore mark by the end of FY26. The segment’s EBITDA margin stood at a healthy 86%.Also Read: Adani Energy Q4 Results FY2025: Net Profit Jumps 79% YoY | Republic WorldCapex execution remained robust, rising 1.36 times to Rs 5,976 crore in H1FY26. The company commissioned three major transmission projects—Khavda Phase II Part-A, Khavda Pooling Station-1, and Sangod Transmission—during the period.AESL’s under-construction transmission pipeline now stands at Rs 60,004 crore, while its smart metering order book covers 2.46 crore meters worth Rs 29,519 crore.CEO Kandarp Patel said the strong quarterly performance underscored AESL’s “excellent on-ground execution and focus on project growth,” adding that the company expects “significant momentum in capex roll-out and tendering activity” through the remainder of FY26.AESL’s leverage remained comfortable, with a net debt-to-EBITDA ratio of 4.4x, while AEML Mumbai repurchased US$44.66 million worth of outstanding bonds as part of efforts to reduce financing costs and extend debt maturity.
