Adani Energy Solutions Q2 Profit Surges 145% to ₹1,364 Crore as Revenue Hits Milestone

Key numbers

P/E Ratio	55.18Sector 23.72
Market Cap	₹1,61,075 CrUtilities Sector
1-Year Return	40.65%Price Performance
Promoter Holding	73.39%Latest Quarter

Key highlights

• Net profit increased 144.8% year-on-year to ₹1,364 crore from ₹557 crore in Q2 FY26
• Consolidated revenue from operations grew 52.8% to ₹10,076 crore in Q2 FY27
• Operating margin expanded to 17.3% compared to 11.0% in the same quarter last year
• Successfully completed a ₹3,500 crore Qualified Institutional Placement (QIP) in July 2026
• Executed a binding agreement to acquire a 100% stake in IntelliSmart for ₹3,050 crore

Operational Revenue Scales Beyond ₹10,000 Crore

Adani Energy Solutions achieved a major scale milestone in the second quarter of FY27 as consolidated revenue from operations hit ₹10,076 crore, representing a 52.8% increase over the ₹6,596 crore recorded in Q2 FY26. This growth was supported by steady performance across the transmission and distribution businesses. During the period, the company successfully allotted over 2.16 crore equity shares through a ₹3,500 crore Qualified Institutional Placement completed in July 2026 at a price of ₹1,615 per share.

The capital infusion has bolstered the company's financial position as it pursues a significant pipeline of transmission and smart metering infrastructure projects across India.

Strategic Acquisitions and Segment Performance

• Transmission segment turnover stood at ₹3,598.71 crore for the quarter ended September 2026
• Distribution business contributed ₹3,181.43 crore to the gross turnover during the same period
• The newly identified Smart Meter segment recorded revenue of ₹384.14 crore for the quarter
• Binding agreement signed to acquire 100% of IntelliSmart Infrastructure for ₹3,050 crore
• The Energy Solutions Platform segment saw quarterly revenue rise to ₹2,196.94 crore

Expanding Transmission Order Book and Margins

The company's operating margin improved significantly to 17.3% in Q2 FY27 from 11.0% in the year-ago period, reflecting better operational efficiency and scale. As of August 2026, the company's under-construction transmission order book reached approximately ₹85,000 crore following major project wins. This coincides with management's annual capital expenditure guidance of ₹20,000 crore to ₹25,000 crore.

The expansion in profit before tax to ₹1,767 crore from ₹746 crore a year ago further highlights the core operational strength, even as the company integrates new segments like smart metering into its consolidated results as per Ind AS 108 requirements.

Smart Metering Platform Expansion

The proposed acquisition will strengthen AESL's position as India's largest smart metering platform with over 4.7+ crore smart meters.

What to watch next

• Investor conference call following Q2 results scheduled for October 23, 2026
• Final regulatory approvals and closing of the ₹3,050 crore IntelliSmart acquisition
• Execution milestones for the ₹85,000 crore under-construction transmission project pipeline

“Pursuant to the allotment of these shares the paid-up equity share capital of the Company increased from ₹ 1,201.28 Crore comprising 120,12,82,642 fully paid-up equity shares to ₹ 1,222.95 Crore comprising 122,29,54,468 fully paid-up equity shares.”

Adani Energy Solutions · financial snapshot

Share price	₹1317.1
Market capitalisation	₹1.61L Cr
Revenue (annual)	₹27,588.03 Cr
Net profit (annual)	₹2,282.54 Cr
Revenue (latest quarter)	₹9,711.08 Cr+30.47% vs previous quarter
Net profit (latest quarter)	₹1,149.06 Cr+68.05% vs previous quarter
P/E (TTM)	55.18×Sector 23.72×
Promoter holding	73.39%-1.32% QoQ
FII holding	9.57%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.