Adani Energy Solutions Limited (AESL) has reported robust financial results for the first quarter, showcasing significant growth across key metrics. The company's performance was driven by strong execution in its transmission, distribution, and smart metering businesses.

Financial Highlights

• Total income rose by 28% year-on-year
• EBITDA increased by 14% to INR 2,017.00 crore
• Profit After Tax (PAT) surged by 71% to INR 539.00 crore
• Cash profit improved to over INR 1,000.00 crore

Operational Achievements

Transmission Business

• Commissioned three transmission projects: Khavda Phase 2 Part-A and Khavda Pooling Station in Gujarat, and Sangod Transmission Project in Rajasthan
• Secured a new transmission project, bringing the under-construction order book to INR 59,300.00 crore
• Achieved 99.8% line availability, earning an incentive of INR 29.00 crore
• Total transmission network expanded to 26,696 circuit kilometers

Smart Metering

• Installed 24 lakh smart meters during the quarter
• Cumulative installations reached 55.44 lakh meters, with 51 lakh already commissioned and generating revenue
• On track to achieve the target of 70 lakh meters for the current fiscal year

Distribution Business

• Distribution losses in AEML improved to 4.24% from 5.18% in the previous year
• Mundra distribution company reported 22% year-on-year sales growth

New Business Initiatives

• Launched C&I (Commercial and Industrial) business, serving 14 industrial customers with 717 MW load
• Commenced construction of India's largest district cooling facility at Mundra with 45,000 tons refrigeration capacity

Capital Expenditure and Future Outlook

AESL's consolidated capex increased to INR 2,224.00 crore from INR 1,313.00 crore in the same quarter last year. The company expects significant opportunities across its business verticals:

• Transmission: INR 90,000.00 crore bidding pipeline, including two large HVDC projects
• Distribution: Potential privatization opportunities in UP and second license application for Navi Mumbai
• Smart Metering: Targeting to maintain a 22% market share in future opportunities

Kandarp Patel, CEO of AESL, commented on the results: "We are pleased to share that AESL has reported another good quarter in terms of financial and operational performance, highlighting AESL's strong on-ground execution and focused O&M. The company continues to focus on unlocking the tied-up growth through timely completion of transmission projects, ensuring stable performance in the distribution segment, and maintaining industry-leading daily smart meter installation run rate."

With its strong performance and strategic initiatives, Adani Energy Solutions Limited appears well-positioned to capitalize on the growing opportunities in India's energy infrastructure sector.

Adani Energy Solutions Limited (AESL) has reported a strong financial performance for the first quarter, with significant growth in key metrics.

Financial Highlights

• Revenue: AESL's Q1 revenue surged to ₹68.20 billion, marking a substantial 26.8% increase from ₹53.79 billion in the same quarter last year.
• Net Profit: The company's consolidated net profit before exceptional items rose to ₹6.60 billion, up from ₹4.50 billion year-over-year, representing a 46.7% growth.
• EBITDA: Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) increased to ₹18.10 billion from ₹16.50 billion in the previous year.
• EBITDA Margin: The EBITDA margin declined to 26.55% from 30.69% in the same period last year.

Operational Performance

AESL demonstrated strong operational execution during the quarter:

• Commissioned three transmission lines: Khavda Phase II Part-A, Khavda Pooling Station-1 (KPS-1), and Sangod transmission.
• Installed 2.4 million new smart meters, bringing the total to 5.54 million.
• Achieved a daily installation rate of 25,000-27,000 smart meters.

Segment-wise Performance

Transmission

The segment maintained a system availability of 99.83% and expanded its network to 26,696 circuit kilometers.

Distribution

Adani Electricity Mumbai Limited (AEML) reported a distribution loss of 4.24%, an improvement from 5.18% in Q1 of the previous year.

Smart Metering

The company aims to install 7 million new meters this fiscal year, targeting a cumulative 10 million meters by the end of the fiscal year.

Strategic Developments

AESL secured a new transmission project - WRNES Talegaon line, boosting its under-construction order book to ₹59,304.00 crore.

Management Commentary

Kandarp Patel, CEO of Adani Energy Solutions, stated, "We are pleased to report another robust quarter. The effective on-ground execution & focused O&M enabling consistent progress on the project capex growth continues to be our key performance yardstick as we stay focused on unlocking the huge locked-in growth potential in our core business segments."

Future Outlook

The company anticipates an increase in capex roll-out and new bid activity from Q2, as the monsoon subsides. AESL remains poised to tap into fresh opportunities within its risk-reward matrix and capital allocation policy.

Adani Energy Solutions continues to demonstrate its commitment to growth and operational excellence in the power transmission and distribution sector, positioning itself as a key player in India's evolving energy landscape.