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Not investment advice. Data and computed figures, for information only.

Adani Energy Solutions Ltd

NSE: ADANIENSOLF&O
₹1,365.90
+₹11.70 (+0.86%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,54,337 Cr
CMP
₹1,365.90
52-wk High / Low
₹1,789 / 803
P/E
52.9
P/B
6.0
Book Value
₹212.0
Div Yield
0.00%
ROCE
10.0%
ROE
9.4%
Face Value
₹10
D/E
1.93

Price+45.7% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹301
√(22.5 × EPS × book value per share)
ROIC
6.2%
vs 5.8% sector median
Cash flow to profit
4.60
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+442
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
9.4%
ROE × earnings retention ratio
ROE stability
2.8
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.67FII −2.66DII +3.37
Latest quarter vs the previous one
Cash-accrual divergence
−10.3%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.1x)
+Promoter holding rose by 1.8pp over the last year
Watch-outs
−Borrowings are up 472.8% since FY2016 (8585 to 49176)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,6643,6744,5634,7075,3796,1845,8306,3756,8196,5966,7307,4439,711
Expenses2,3952,3243,0923,1413,7284,4694,1704,3355,0094,6404,7345,2986,703
Operating Profit1,2691,3501,4711,5661,6511,7151,6612,0401,8111,9551,9952,1453,008
OPM %34.6%36.7%32.2%33.3%30.7%27.7%28.5%32.0%26.6%29.6%29.6%28.8%31.0%
Other Income10893262204−1,395176170222206171215227170
Interest6166417607508118138098268948729139541,152
Depreciation419432458468498484462462465509496508585
Profit before tax343370515552−1,0535945599746587468019101,441
Net Profit182284348381−1,1917736257145395575747231,237
EPS (₹)1.572.472.913.24−7.395.624.685.394.274.444.605.699.57

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1312,1942,8763,9447,30511,4169,92611,25813,29316,60723,76727,58830,480
Expenses292678931,1184,5287,1585,9767,0518,77510,89616,70119,58321,376
Operating Profit1011,9271,9832,8262,7784,2583,9504,2064,5185,7117,0678,0059,104
OPM %77.1%87.8%68.9%71.7%38.0%37.3%39.8%37.4%34.0%34.4%29.7%29.0%29.9%
Other Income370221113362611,1151,2861,583611−827721783
Interest739579048861,3912,2382,1172,3652,7812,7673,2593,6333,891
Depreciation375605695798821,1741,3291,4271,6081,7761,9061,9782,099
Profit before tax−54805321,4728401,1071,6201,7001,7121,7801,0753,1153,898
Net Profit−73684161,1435597061,2901,2361,2811,1969222,3933,090
EPS (₹)−0.063.353.7910.395.086.7411.1310.9511.2610.208.8219.0024.30

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital1,0901,1001,1001,1001,1001,1001,1001,1001,1151,1151,2011,201—
Reserves−71,5721,8474,9576,9437,3997,8198,81310,63411,52620,86724,226—
Borrowings9,7018,5858,97510,42820,13724,24627,09529,90234,27037,07039,92649,176—
Other Liabilities7084898907814,3796,9667,2197,6507,9138,82711,90818,153—
Total Liabilities11,49211,74612,81117,26532,55839,71143,23447,46453,93258,53873,90292,757—
Fixed Assets10,57310,0609,8539,29124,41224,92426,98730,27232,64538,92039,55546,804—
CWIP102581,3432,3536942,2125,2555,0606,2003,0035,7022,054—
Investments02010503363134425611,3707662,6382,644—
Other Assets9091,4071,5105,6217,11712,26210,55011,57213,71615,84926,00741,256—
Total Assets11,49211,74612,81117,26532,55839,71143,23447,46453,93258,53873,90292,757—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity−351,5442,1892,1982,5915,4373,7844,0973,7776,0389,04510,997
Cash from Investing Activity−1,864−816−1,730−3,192−3,050−5,643−4,009−3,936−4,699−4,943−15,222−14,083
Cash from Financing Activity1,902−722−4551,589381,250−745−235923−5437,6262,630
Net Cash Flow364596−4211,045−969−7525511,448−456

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %1.013.012.017.010.011.011.010.010.09.010.010.0
ROE %———————————9.4
EPS (₹)−0.063.353.7910.395.086.7411.1310.9511.2610.208.8219.00
Book Value (₹)———————————212.0
Face Value (₹)———————————10
P/E———————————52.9
Div Yield %———————————0.00
NPM %−5.216.314.428.27.36.011.79.98.66.94.08.5
OPM %78.088.069.072.038.037.040.037.034.034.030.029.0
D/E8.963.213.051.722.502.853.043.022.922.931.811.93
P/B———————————6.0

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+29.0%
5 years+23.0%
3 years+28.0%
TTM+21.0%
Compounded profit growth
10 years+20.0%
5 years+13.0%
3 years+21.0%
TTM+22.0%
Stock price CAGR
10 years+41.0%
5 years−6.0%
3 years+17.0%
Last year+36.0%
Return on equity
10 years12.0%
5 years11.0%
3 years10.0%
Last year9.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%71.64%73.22%69.94%72.72%73.39%
FIIs17.19%17.19%17.19%19.99%20.63%20.69%20.30%20.57%21.04%17.49%17.58%12.23%9.57%
DIIs3.20%3.20%3.20%2.63%2.57%2.57%2.55%3.21%3.80%3.80%6.33%10.24%13.61%
Government—————————————
Public4.69%4.69%4.69%2.46%1.88%1.82%2.23%1.30%3.51%5.49%6.16%4.81%3.44%
No. of shareholders57,16857,16857,16851,68542,66342,44175,52788,9413,22,8514,78,1255,27,1374,03,6253,82,685
Change since Jun 2023 (pp)
Promoters −1.53FIIs −7.62DIIs +10.41Public −1.25

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-AcquisitionAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBoard Meeting Intimation for Unaudited Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026Closure of Trading Window
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTJul 2026RecordingApr 2026TranscriptApr 2026PPTApr 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026RecordingOct 2025TranscriptOct 2025PPTOct 2025RecordingJul 2025TranscriptJul 2025PPT

Corporate actions

Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman