Adani Energy Solutions Limited has announced a significant credit rating upgrade for its material subsidiary, marking a positive development in the company's financial standing. The upgrade was disclosed to stock exchanges on February 21st, 2026, in compliance with regulatory requirements.

Credit Rating Enhancement

Crisil Ratings Limited has upgraded Adani Electricity Mumbai Limited's credit rating, reflecting improved creditworthiness and financial stability. The rating enhancement represents a substantial improvement in the subsidiary's credit profile.

Regulatory Compliance

The disclosure was made under Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates companies to inform exchanges about material developments that could impact investor decisions.

Subsidiary Significance

Adani Electricity Mumbai Limited holds the status of a material subsidiary under Adani Energy Solutions Limited. The credit rating upgrade for this key subsidiary reflects positively on the parent company's overall portfolio strength and operational capabilities.

Market Communication

The company has made this information publicly available on its official website at www.adanienergysolutions.com , ensuring transparency and accessibility for all stakeholders. The formal communication was signed by Company Secretary Jaladhi Shukla and submitted to both BSE Limited and National Stock Exchange of India Limited.

Adani Energy Solutions Limited (AESL) has achieved a historic milestone by becoming the first company in India and potentially globally to successfully deliver 1 crore electricity smart meters across distribution companies. The achievement was announced through an official media release dated February 5th, marking a significant breakthrough in India's smart grid infrastructure development.

Record-Breaking Achievement and Timeline

The company completed this landmark delivery well ahead of its original guidance of reaching the 1 crore mark by March 31st. AESL accomplished this milestone in approximately 24 months since beginning its smart metering journey, representing the quickest installation pace in the country.

Strategic Market Position and Execution Excellence

As India's leading Advanced Metering Infrastructure Service Provider (AMISP), AESL maintains the highest installation rate in the industry at approximately 25,000 meters per day. The company has a comprehensive mandate to install around 2.5 crore smart meters across five states, positioning it as a key player in India's digital energy transformation.

Kandarp Patel, Chief Executive Officer of Adani Energy Solutions, emphasized the significance of this achievement: "Reaching an installed base of 1 crore smart meters is a testament to our benchmarked execution excellence and deep engagement with distribution utilities and consumers. These smart meters are not just devices — these are catalysts for empowering consumers with real-time usage data, improving grid reliability, reducing losses, and enabling efficient energy management."

Integrated Ecosystem Approach

AESL's success stems from its integrated ecosystem strategy, providing greater control and visibility across the entire value chain. The company has strategically partnered with sister firms including Adani Esysoft Smart Solutions for smart metering and IoT solutions, and AdaniConneX for local data hosting. Additionally, AESL has established partnerships with tier I meter brands to ensure delivery timelines and maintain platform relevance throughout contract periods.

Future Growth and National Impact

Building on this historic achievement, AESL targets delivering another 1 crore smart meters in the coming financial year, effectively doubling its current milestone. This ambitious plan supports India's broader goal under the Revamped Distribution Sector Scheme (RDSS) to replace 25 crore conventional meters with advanced smart meters.

The smart meter network delivers real-time consumer insights, enhances billing transparency, strengthens utility operations, and supports the integration of renewable energy resources. These devices are designed to improve billing accuracy, reduce Aggregate Technical & Commercial losses, and provide valuable data for grid modernization and demand forecasting.