Adani Energy Solutions Limited has incorporated seven wholly owned subsidiaries on June 1, 2026, to expand its operations in the electric utilities sector. The company informed the exchanges that the subsidiaries were established following intimation from the Ministry of Corporate Affairs (MCA) on the same day. This strategic move aims to strengthen the company's presence in the production, generation, transmission, and distribution of electricity.

The newly incorporated entities include Sunrays Step I Limited, Sunrays Step II Limited, Sunrays Step III Limited, Arasan Step I Limited, Arasan Step II Limited, Arasan Step III Limited, and Arasan Step IV Limited. All seven companies are registered in India and operate within the electric utilities industry. Adani Energy Solutions serves as the holding company for these subsidiaries, maintaining 100% control over their shareholding.

The incorporation details were disclosed in compliance with Regulation 30 read with Para A of Part A of Schedule III of SEBI Listing Regulations and SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The filing was submitted by Jaladhi Atulchandra Shukla, Company Secretary of Adani Energy Solutions Limited.

Financial and Operational Details

Each of the seven subsidiaries has been incorporated with a paid-up share capital of ₹5,00,000, divided into 50,000 equity shares of ₹10 each. The shares have been subscribed at face value, and the consideration for the subscription was settled in cash. No governmental or regulatory approvals were required for the incorporation of these entities. The subsidiaries are expected to engage in the business of production, generation, conversion, transformation, transmission, processing, storing, supply, and distribution of electricity. This expansion aligns with Adani Energy Solutions' broader strategy to enhance its operational capabilities in the power sector.

Subsidiary Overview

The table below provides a summary of all seven newly incorporated subsidiaries, their paid-up share capital, and the shareholding held by Adani Energy Solutions.

Adani Energy Solutions Limited has submitted its Business Responsibility and Sustainability Report for the financial year 2025-26 to BSE and NSE. The report outlines the company's performance against the National Guidelines on Responsible Business Conduct, including its commitment to net-zero emissions by 2050 and a renewable energy share of 65.92% in electricity purchased. It also details workforce statistics, safety incidents, and grievance redressal mechanisms.

The filing, made on May 31, 2026, was submitted pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report has been uploaded on the company’s website and sent to members electronically.

ESG Commitments and Performance

Adani Energy Solutions has committed to achieving net-zero emissions by 2050 and became a signatory to IRENA’s Utilities for Net Zero alliance in FY 2025. The company divested its sole thermal asset, Adani Dahanu Thermal Power Station, on September 26, 2024. For FY 2025-26, the renewable energy share in electricity purchased and sold stood at 65.92%, with the company on track to achieve a goal of 60% renewable energy in total electricity distribution at its Mumbai unit by 2027.

The company reported that it is in the top 10 percentile of global companies in S&P Global’s ESG benchmarking for the electric utility sector in 2025.

Workforce and Safety

The company reported a total workforce of 8,127 individuals, comprising 1,767 employees and 6,360 workers. The workforce included 10 differently abled employees and workers.

Regarding safety, the report noted two fatalities among contract workers during FY 2025-26, compared to one in the previous year. The Lost Time Injury Frequency Rate (LTIFR) for employees and workers combined was 0.24 per million person-hours worked, up from 0.01 in the previous year.

Stakeholder Grievances

The company disclosed that it received 36,515 customer complaints during the year, all of which were resolved. It received nine shareholder complaints and one employee complaint related to the Prevention of Sexual Harassment (PoSH) Act, which was investigated and closed.

Governance and Assurance

The report stated that the company has policies covering all nine principles of the National Guidelines on Responsible Business Conduct. M/s. TUV India Pvt. Ltd. provided reasonable assurance for the core and non-core indicators in the report. The company confirmed that it had zero reported ethical breaches and no fines or penalties during the reporting period.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE931S01010/6d518235763e4bd9.pdf