Adani Energy Solutions Continues Growth Momentum – Financial Results Inside

Adani Energy Solutions reported an 80% year-over-year increase in Q3 profit after tax (PAT) to Rs 625 crore, driven by strong growth momentum. The company has also secured a Rs 25,000-crore HVDC system in Rajasthan, cementing its position as India’s largest private transmission player.

Adani Energy Solutions’ Q3 financials showed significant growth, with an 80% YoY increase in PAT to Rs 625 crore, a 26% YoY rise in adjusted PAT to Rs 440 crore, and a 6% YoY increase in EBITDA to Rs 1,831 crore.

Adani Energy Solutions Financial Results: Key Highlights

• Robust growth of 24% in total income of Rs 6,000 crore in Q3 is driven by the contributions from the recently commissioned MP Package-II, Kharghar-Vikhroli, Warora-Kurnool, KhavdaBhuj, Mahan-Sipat lines, higher energy sales in Mumbai and Mundra utilities.
• EBITDA increased by 6% to Rs 1,831 crore for the quarter translating from strong revenue growth, EPC income in transmission, treasury income and steady regulated EBITDA in AEML.
• PAT increased by 80% YoY, resulting from higher EBITDA, and aided by reversal of net deferred tax liability of Rs 185 crore, mainly due to divestment of Dahanu plant in AEML.
• Adjusted PAT excluding one-time tax items increased by 26% YoY to Rs 440 crore.
• Secured two new transmission projects – Khavda Phase IV Part-D and Rajasthan Phase III Part I (Bhadla – Fatehpur HVDC), thereby adding 3,044 ckm to under construction network.
• The company has fully commissioned MP package – II transmission line during the quarter and is on track to fully commission Sangod, Khavda Phase-II Part-A, KPS–1 lines in FY25.
• With five new project wins so far this year, the under-construction transmission pipeline has zoomed to ~Rs 54,761 crore in Q3FY25 from Rs 17,000 crore.
• The capex as of 9MFY25 has increased to Rs 7,475 crore, as against Rs 3,784 crore in 9MFY24.
• The smart meter deployment is progressing well, with the current average run-rate of 15,000 meters per day expected to reach an average of 20,000 meters per day by the next quarter.
• In line with the robust power demand trends, Q3 energy demand (units sold) in Mumbai circle (AEML), ended 3% higher YoY and increased by 30% YoY at Mundra Utility (MUL).

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