Adani Energy Solutions Q3 FY26 Results: Net Profit Jumps 21% YoY to ₹574 Crore
Mumbai: Adani Energy Solutions Limited (BSE: 539254, NSE: ADANIENSOL), the integrated energy solutions platform of the Adani Group, announced its unaudited financial results for the third quarter and nine months ended December 31, 2025. The Board of Directors approved the results in a meeting held today.
Key Financial Highlights
Q3 FY26 (Consolidated) | Performance Analysis
| Parameter | Q3 FY26 (₹ Cr) | Q3 FY25 (₹ Cr) | % Change YoY |
|---|---|---|---|
| Net Profit | 574.1 | 625.3 | ▼ -8.2% |
| Total Income | 6,944.4 | 6,000.4 | ▲ +15.7% |
| Revenue from Operations | 6,729.7 | 5,830.3 | ▲ +15.4% |
| Profit Before Tax (PBT) | 801.1 | 559.4 | ▲ +43.2% |
| EBITDA (Pre-Regulatory) | 1,141.4 | 1,023.9 | ▲ +11.5% |
| Earnings Per Share (EPS) (₹) | 4.60 | 4.85 | ▼ -5.2% |
*All figures are in ₹ Crore except EPS. YoY denotes Year-on-Year growth.
*Note: The YoY net profit comparison is impacted by a one-time exceptional loss of ₹1,506 crore in Q3 FY25 related to the divestment of Dahanu Thermal Power Plant. Excluding this, underlying performance shows strong growth.*
Nine-Month Performance (Apr-Dec 2025) – Consolidated
For the nine months of FY26, the company reported a Net Profit of ₹1,670 crore on Total Income of ₹20,737 crore, marking a significant recovery.
Segment-Wise Performance (Q3 FY26)
The company's diversified portfolio showed robust growth across key verticals:
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Transmission: Segment revenue stood at ₹2,426 crore, with a segment profit (PBIT) of ₹986 crore.
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Distribution: Segment revenue was ₹3,104 crore, with a segment profit of ₹284 crore.
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Smart Meter: This newly reported segment showed promising growth with revenue of ₹235 crore and a profit of ₹111 crore.
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Trading & Others: Contributed ₹392 crore to total revenue.
Standalone Performance
On a standalone basis, Adani Energy Solutions reported a net profit of ₹114.2 crore for Q3 FY26, compared to ₹163.8 crore in Q3 FY25. Total Income stood at ₹936.1 crore.
Key Operational & Regulatory Updates
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Labour Code Impact: The adoption of the new Labour Codes effective November 21, 2025, resulted in a one-time financial impact of ₹92.95 crore for the Group in Q3 FY26.
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Regulatory Assets: The quarter saw a net movement in Regulatory Deferral Account Balances of ₹340.34 crore (expense), primarily due to the recovery of past years' Regulatory Asset Charges (RAC).
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Debt & Capital Structure: The consolidated debt-equity ratio stood at 1.89 as of December 31, 2025, with total borrowings of ₹47,548 crore against a net worth of ₹23,605 crore.
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Strong Coverage Ratios: The Interest Service Coverage Ratio (ISCR) was healthy at 1.88 times, and the Debt Service Coverage Ratio (DSCR) stood at 1.91 times.
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Legal Matter: The company reiterated that it is not a party to the ongoing US DOJ and SEC proceedings against a non-executive director, and there is no financial impact on these results.
Outlook
Adani Energy Solutions continues to strengthen its position as a leading player in India's power transmission, distribution, and smart metering landscape. The growth in the smart metering segment and steady performance in core transmission and distribution businesses underline the company's diversified and resilient operational model.
About Adani Energy Solutions Limited
Adani Energy Solutions is a leading private sector power transmission and distribution company in India, with a growing portfolio in smart metering and green energy integration.