Adani Energy Solutions Limited — Investor Meet, 31-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Adani Energy Solutions reported strong H1 FY26 financial results: Total Income up 16% to INR 13,793 Cr, EBITDA up 13% to INR 4,144 Cr, and Adjusted PAT jumped 42% to INR 1,096 Cr. The company holds a transmission pipeline of INR 60,000 Cr and a smart meter order book of 2.46 Cr meters (INR 29,000 Cr revenue potential). 73 lakh smart meters are installed, targeting over 1 Cr by year-end. Total H1 capex was INR 5,976 Cr, with annual capex expected at INR 17,000-18,000 Cr, generating an INR 2,800 Cr EBITDA run-rate. Management expects to commission multiple large transmission projects in H2 and is actively pursuing parallel distribution licenses. Tone is confident on sustained growth.