Adani Energy Solutions Ltd.32% EBITDA Growth Guided for FY27

Adani Energy Solutions delivered robust FY26 performance with consolidated EBITDA reaching ₹8,726 crore, up from approximately ₹7,000 crore in FY25.

The company deployed a record ₹15,000 crore in capex and installed 83 lakh smart meters, exceeding the 70 lakh target and marking the highest global deployment by any operator. Management provided confident FY27 guidance of ₹11,500 crore EBITDA, representing 32% year-on-year growth. The landmark Mumbai HVDC project, involving ₹7,000 crore investment, was commissioned on March 15, 2026, and will contribute ₹1,300 crore in annual regulated tariff revenue starting FY27.

Planned capex of ₹21,000-22,000 crore for FY27 reflects a 47% increase, primarily directed toward transmission infrastructure. The transmission segment is poised for transformational growth, with management guiding EBITDA to triple over 36-40 months as the ₹72,000 crore under-construction pipeline gets commissioned. The company maintained its AAA/AAA+ credit ratings despite aggressive expansion, while AEML distribution losses improved to best-in-class 4.2%. The C&I business, with 5,000 MW renewable capacity contracted, emerged as a key growth driver with margins exceeding ₹0.50 per unit.