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On 6 Nov 2026, Adani Energy Solutions was priced at ₹1,457.40, or 47.2× trailing earnings, against an industry P/E of 21.6×, and the shares are 19% below their 52-week high. It earns ROCE of 8.4% and ROE of 14%, and sales and net profit grew 28% and 22% a year over 3 years. Debt is 1.70× equity. It is a large-cap company with a market cap of ₹1.8 lakh crore, ranked 2nd of 15 Utilities (Independent Power Producers) companies by market cap; the shares rose 47% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹1,430.00
Day high
₹1,459.70
Day low
₹1,416.00
Prev. close
₹1,446.70
Volume
13.1 L

Health check

2 good · 4 to check
  • ReturnsAhead

    +46.7% over a year, better than 7 of 7 peers.

  • Price tagPricier

    P/E 47.2 vs industry 21.6.

  • GrowthStrong

    Sales +27.7%, profit +22.0% a year over 3 years.

  • ProfitabilityWeak

    ROCE 8.4% vs peer median 7.3%.

  • Balance sheetStretched

    Debt 1.70× equity, interest covered 1.9×, Piotroski 6 of 9.

  • Red flags3 to check

    Debt is 1.70× equity.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Utilities - Independent Power Producers

14 listed peers. Screen the industry

Large cap

₹1.8L Cr, #2 of 15 in its industry by size.

Defensive

Beta 0.63 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹33,960 Cr · profit ₹3,708 Cr
Market cap
₹1.8L Cr
Large cap
P/E
47.2
Industry 21.6
Price to book
5.59
Peers 2.62
Dividend yield
0.00%
ROE
13.7%
Peers 7.8%
ROCE
8.4%
Peers 7.3%
Debt to equity
1.70
Debt ₹55,165 Cr
EPS (TTM)
₹30.87
Face value ₹10
OPM (TTM)
31.2%
Net margin 10.9%
Sales growth
+52.8%
Latest quarter vs a year ago
Profit growth
+148.0%
Latest quarter vs a year ago
Price to sales
5.25
EV/EBITDA 21.2

Strengths and risks

Strengths

  • Quarterly profit up 148.0% on a year ago.
  • Quarterly sales up 52.8% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Debt is 1.70× equity.
  • P/E of 47.2 against an industry P/E of 21.6.
  • Interest coverage of only 2.7×.

Derived automatically from reported figures. Not a recommendation.

About Adani Energy Solutions

Adani Energy Solutions Limited, together with its subsidiaries, generates, transmits, and distributes power in India. It operates through the Transmission; Distribution; Smart Meter; Trading; and Others segments. The company is involved in the establishment, commission, setting up, operation, and maintenance of electric power transmission systems; development, ownership, and operation of transmission lines; trade of bullion and other commodities; and…

Headquarters
Ahmedabad
Employees
3,514
Sector
Utilities
ISIN
INE931S01010
Website
adanienergysolutions.com

Price range

52 weeks

₹803.10₹1,789.00

Today

₹1,416.00₹1,459.70
Avg volume (3M)
26.4 L
1-year return
plus 46.7%
From 52-week high
minus 18.5%

Analyst consensus

9 analysts
Strong buyMean target ₹1,660.56 plus 13.9%

Target range, with today’s price

Low ₹1,450.00High ₹1,980.00

Next results expected around 21 Jan 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Utilities - Independent Power Producers

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ADANIPOWERAdani Power204.29plus 0.14%3,93,96721.622.015.1%38.7%0.8012.5%plus 28.8%
ADANIENSOLAdani Energy Solutions1,457.40plus 0.74%1,78,23347.224.38.4%31.2%1.7027.7%plus 46.7%
TATAPOWERTata Power Co.352.50minus 3.31%1,12,63629.214.08.5%20.4%1.684.1%minus 9.0%
JSWENERGYJSW Energy524.95plus 0.31%96,22441.315.97.3%53.4%2.0723.5%minus 0.9%
TORNTPOWERTorrent Power1,271.10plus 0.45%64,05126.513.311.9%19.2%1.084.0%minus 3.0%
VEDPOWERVedanta Power35.33minus 3.07%13,793–19.0−7.7%13.9%0.6515.7%minus 13.7%
JPPOWERJaiprakash Power Ventures13.86minus 0.29%9,49925.28.86.7%29.3%0.23−1.3%minus 22.3%
RPOWERReliance Power18.43minus 1.44%7,622–9.64.5%30.7%0.920.8%minus 54.1%
Median of 7 peers–−0.29%64,05126.514.07.3%29.3%0.924.1%−9.0%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
6,8196,7307,4439,71110,076
4,5054,3945,2986,7036,975
2,3152,3362,1453,0083,101
33.9%34.7%28.8%31.0%30.8%
−298−126227170447
8949139541,1521,180
465496508585601
6588019101,4411,767
17.8%28.2%26.5%10.8%−72.1%
5125526841,1491,323
4.274.605.699.5711.01

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+27.7%
Profit CAGR 3Y
+22.0%
EPS CAGR 3Y
+19.6%
ROE
13.7%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
13,06516,35523,57527,203
–+25.2%+44.1%+15.4%
8,51410,14117,45118,065
4,5526,2146,1249,138
34.8%38.0%26.0%33.6%
1,491−0.31,367−814
2,7402,7013,1353,411
1,6141,7841,9141,981
23.750.7−1,367184
1,7121,7801,0753,115
25.4%32.6%16.7%24.8%
1,2561,1371,0602,283
–minus 9.5%minus 6.8%+115.3%
11.1010.209.0519.00

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,1151,1151,2011,201
10,63411,52620,86724,226
34,27037,07039,92649,176
7,9138,86811,96618,231
53,93258,57973,96092,835
37,91841,42844,62950,414
6,9714,2086,7845,354
1,3411,2942,0246,655
1,9901,9985,5435,004
5,7129,65114,98025,408
53,93258,57973,96092,835

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
3,7776,0389,04510,997
−4,699−4,943−15,228−14,083
923−5437,6262,630
1.55511,443−456
−4,702−5,430−9,378−14,432
−925608−334−3,435
–−85.8––

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 22.4% (Yahoo estimate).

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you