Adani Energy Solutions Limited (AESL) announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The company reported a strong performance across all segments, driven by robust on-ground execution and strategic capital management. For the third quarter of FY26, Total Income reached an all-time high of ₹6,945 crore, a 15.7% year-on-year increase. EBITDA also hit a record of ₹2,210 crore, up 20.7% year-on-year, primarily due to strong growth in the transmission and smart metering segments. Profit Before Tax saw a significant rise of 43.2% year-on-year to ₹801 crore. Adjusted PAT grew by 30.4% year-on-year to ₹574 crore. Cash profit increased by 22.8% to ₹1,227 crore. In the first nine months of FY26, Total Income rose by 16.2% year-on-year to ₹20,737 crore, marking another all-time high. EBITDA for the period was up 15.9% year-on-year to ₹6,354 crore. Profit Before Tax stood at ₹2,205 crore, a 37.2% increase year-on-year. Adjusted PAT grew by 34.4% year-on-year to ₹1,670 crore, and cash profit increased by 17.1% to ₹3,435 crore. The company's capital expenditure (capex) in the first nine months of FY26 increased to ₹9,294 crore from ₹7,475 crore in the same period last year. AESL commissioned four transmission projects during this period and has a robust under-construction transmission pipeline worth ₹77,787 crore. In the smart metering business, the company installed 61.2 lakh new meters in the nine-month period, bringing the cumulative total to 92.5 lakh meters. AESL is on track to surpass its guidance of 1 crore cumulative smart meters by the end of FY26. Moody's Ratings revised the outlook for Adani Transmission Step-One Limited and Adani Electricity Mumbai Limited to 'Stable' from 'Negative', affirming their Baa3 senior secured ratings.
