Adani Energy Solutions539254Quarterly results

Q2FY27: PAT more than doubles to Rs 1,364 crore, EBITDA up 67% YoY

Q2FY27: total income Rs 10,239 crore (+51% YoY), EBITDA Rs 3,548 crore (+67%), PAT Rs 1,364 crore (+145%).

By ScoutQuest · Thu 22 Oct 2026, 3:37 PM IST · 2 min read

Total Income Q2FY27: Rs 10,239 crore (+51% YoY)
PAT Q2FY27: Rs 1,364 crore (+145%)
Smart Meter Order Book: 24.6 million smart meters with revenue potential of Rs 29,519 crore

Headline numbers

Total income of Rs 10,239 crore in Q2FY27 against Rs 6,767 crore a year earlier, a rise of 51%.
EBITDA of Rs 3,548 crore in Q2FY27, up 67% year on year; H1FY27 EBITDA crossed a record Rs 6,726 crore, up 62%.
PAT of Rs 1,364 crore in Q2FY27 against Rs 557 crore in Q2FY26, up 145%.
H1FY27 PAT of Rs 2,600 crore against Rs 1,096 crore, up 137%.

The company attributed the quarter to growth in transmission, smart metering and a significant contribution from the energy solutions platform, along with steady distribution performance.

Segment picture (H1FY27)

Transmission: operating revenue Rs 3,117 crore, up 26%; operating EBITDA Rs 2,871 crore at a 92% margin.
Distribution (AEML and MUL): operating revenue Rs 6,702 crore, up 3%; operating EBITDA Rs 1,192 crore.
Smart metering (Ind AS): operating revenue Rs 428 crore; operating EBITDA Rs 352 crore at an 82% margin.
Energy Solutions: operating revenue Rs 4,103 crore; operating EBITDA Rs 1,393 crore.

Order book and growth pipeline

15 transmission projects worth about Rs 87,000 crore are to be executed; the near-term transmission tendering opportunity is placed at about Rs 1.4 lakh crore.
The smart meter order book is 24.6 million meters across ten projects, with revenue potential of over Rs 29,519 crore; cumulative installations stand at 14.8 million meters.
A Power Purchase Agreement was entered with Maharashtra State Electricity Distribution Company Limited for supply of 2,500 MW round-the-clock power for a period of 25 years.
A supply tie-up of about 4.6 GW solar and wind and about 3.5 GWh of battery energy storage was mentioned, aimed at commercial and industrial, data centre and utility customers.

Capital management

Rs 3,500 crore was raised through a qualified institutions placement, with primary and secondary equity investments from marquee investors.

Operational metrics

Average system availability in transmission was 99.8% in Q2FY27; line availability led to incentive income of Rs 61 crore in H1FY27.
Units sold in the Mumbai circle rose to 2,930 MU from 2,650 MU, and at MUL to 460 MU from 364 MU.
Distribution loss in the AEML network was 4.29% in H1FY27; supply reliability was stated at 99.99%.
AEML's Regulated Asset Base stood at Rs 10,456 crore as of H1FY27, split into equity of Rs 5,564 crore and debt of Rs 4,892 crore.

ESG and other updates

AESL's S&P Global MSA score improved to 90/100 from 81, against an industry average of 41.
Intertek-confirmed Zero Waste to Landfill status was achieved, with over 6 lakh kg of waste diverted.
AEML retained an A+ rating in REC's Consumer Service Rating of DISCOMs.

What this update is

This is a media release accompanying the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. It sets out the company's own reported financial and operational numbers, its project pipeline and order book position, and recent capital-raising and power supply agreement activity. The release carries a forward-looking statement disclaimer.

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