Adani Energy Solutions ADANIENSOL
India's largest private transmission company, a Mumbai discom and an AMISP smart-meter business
Mapped in 1 theme: Power Transmission & Grid.
Where Adani Energy Solutions sits in the supply chain
Adani Energy Solutions appears in 2 supply-chain layers in one theme, Power Transmission & Grid.
Power Transmission & Grid › Transmission utilities & InvITs
OwnerOther companies in this layer
Power Transmission & Grid › Smart meters & distribution
OperatorOther companies in this layer
Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11,258 | 13,293 | 16,607 | 23,767 | 27,588 |
| Net profit | 1,236 | 1,281 | 1,196 | 922 | 2,393 |
Latest-year revenue ₹27,588 Cr (FY26, company-wide).
Strengths
- 29,739 ckm network at Sep 2026, with an under-construction pipeline worth ~₹87,000 Cr (Q2 FY27)
- Smart-meter order book of 24.6 million meters (~₹29,500 Cr revenue potential)
- Led FY26 ISTS-TBCB awards by tariff share; Rajasthan HVDC link with BHEL-Hitachi Energy
Risks
- High leverage to fund a large under-construction book
- Adani group governance overhang (US indictment of group executives, Nov 2024)
- Smart-meter execution and discom payment risk
Common questions
What does Adani Energy Solutions do?
India's largest private transmission company, a Mumbai discom and an AMISP smart-meter business.
Where does Adani Energy Solutions sit in the supply chain?
Adani Energy Solutions (NSE: ADANIENSOL) is mapped in 2 supply-chain layers: Transmission utilities & InvITs (Power Transmission & Grid) and Smart meters & distribution (Power Transmission & Grid).
Who are Adani Energy Solutions' peers?
In the Transmission utilities & InvITs layer of Power Transmission & Grid: Power Grid Corporation of India, Tata Power, IndiGrid (India Grid Trust), PowerGrid Infrastructure Investment Trust and Resonia (formerly Sterlite Power's transmission business) (not NSE-listed).
What is Adani Energy Solutions' market cap and valuation?
As of 6 Nov 2026: market cap ₹1.78L Cr, P/E 48.1x, ROCE 9.7%, ROE 9.4%, dividend yield 0%.