Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Q1 FY2026 Earnings Presentation
33 slides from Adani Energy Solutions's earnings presentation, July 2025
Slide 1: Adani Energy Solutions Limited
Adani Energy Solutions Limited Q1FY26 Results Presentation | July 2025
Slide 2: Contents
Contents 1 Executive Summary 2 Q1FY26 Financial Highlights (YoY) 3 Capex Profile 4 Q1FY26 Operational Highlights (YoY) 5 AESL - ESG Framework and Updates Annexure – Rating and Operational and Under- 6 construction Asset Portfolio STRICTLY CONFIDENTIAL
Slide 3: Executive Summary
1 Executive Summary STRICTLY CONFIDENTIAL
Slide 4: Adani Portfolio: A World Class Infrastructure & Utility Portfolio
Adani Portfolio: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Other Incubator Materials, Metal Energy & Utility Transport & Logistics Specialty & Mining (73.97%) (61.91%) (74.96%) (65.89%) (67.53%) AEL AGEL1 APL APSEZ Ports & Logi
Slide 5: Adani Portfolio: Best-in class growth with national footprint
Adani Portfolio: Best-in class growth with national footprint All figures in INR cr Predictable, high and rising free cash flow National footprint with deep coverage Tax paid EBITDA Finance cost paid 89,806 CAT (FFO) 66,527 (74%) EBITDA 24,870 AEL 12,784 APSEZ (51%) Adani’s Core Infra. 18,711 AGEL P
Slide 6: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited | ITD Cementation India Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Constr
Slide 7: AESL: Executive Summary – Q1FY26
AESL: Executive Summary – Q1FY26 Key Highlights for Q1FY26 Key Operating Metrics Key Financial Metrics Financial Performance: Transmission Q1FY26 – Total income of Rs 7,026 Cr grew by 28% due to stable operating performance, higher SCA, EPC, and treasury income 26,696 ckms 93,236 MVA – Operational E
Slide 8: Q1FY26 Financial Highlights (YoY)
2 Q1FY26 Financial Highlights (YoY) STRICTLY CONFIDENTIAL
Slide 9: AESL: Consolidated Financial Highlights – Q1FY26 YoY
AESL: Consolidated Financial Highlights – Q1FY26 YoY PAT (In Rs Cr) Total Income Operational Revenue 7,026^ 4,623 4,600 5,490^ 539 315# Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Total EBITDA Operational EBITDA Cash Profit 1,628 -1% 2,017 1,615 1,043 1,762# 908# Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1F
Slide 10: AESL: Segment–wise Financial Highlights – Q1FY26 YoY
AESL: Segment–wise Financial Highlights – Q1FY26 YoY Operational Revenue Operational EBITDA (In Rs Cr) 3,372 3,360 1,073 1,070 534 493 1,174 1,172 77 68 21 52 Transmission Distribution Others Transmission Distribution Others Q1FY25 Q1FY26 Q1FY25 Q1FY26 Total EBITDA 1,288 1,148 592# 630 99 22 Transmi
Slide 11: AESL: Segment wise revenue bridge – Q1FY26 YoY
AESL: Segment wise revenue bridge – Q1FY26 YoY (In Rs Cr) Transmission Distribution Trading Others Consolidated Particulars Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Operating Revenue 1,172 1,174 3,360 3,372 - - 68 77 4,600 4,623 Revenue under Service Concession 1,017 572
Slide 12: Capex Profile
3 Capex Profile STRICTLY CONFIDENTIAL
Slide 13: Capex Profile: Significant Ramp-up in Capital Expenditure and Smart Meter Installation
Capex Profile: Significant Ramp-up in the Capital Expenditure and Smart Meter Installation Turbocharged (In Rs Cr) Capex: Q1FY25 vs Q1FY26 • Despite the monsoon, the increase in capex underscores 2,224 company’s excellent on-ground execution capabilities to ensure the completion of robust order book
Slide 14: Q1FY26 Operational Highlights (YoY)
4 Q1FY26 Operational Highlights (YoY) STRICTLY CONFIDENTIAL
Slide 15: AESL: Transmission Utility – Key Operating Metrics Q1FY26 (YoY)
AESL: Transmission Utility – Key Operating Metrics Q1FY26 (YoY) Transmission Network Length(2)(3) (ckm) Power Transformation Capacity(2) (MVA) 26,696 93,236 21,187 57,186 New order wins boosted the With the addition of new transmission network, reflecting projects, transformation strong bidding capa
Slide 16: AEML: Distribution Utility – Key Operating Metrics Q1FY26 (YoY)
AEML: Distribution Utility – Key Operating Metrics Q1FY26 (YoY) Supply Reliability (ASAI) (%) SAIDI (mins), SAIFI (nos.) and CAIDI (mins)(1) SAIFI SAIDI CAIDI SAIFI SAIDI CAIDI 99.991% 99.997% 35.03 31.08 Maintained supply Enhanced system reliability reliability at 99.99% with improvement in SAIDI,
Slide 17: AEML: Distribution Utility – Key Operating Metrics Q1FY26 (YoY)
AEML: Distribution Utility – Key Operating Metrics Q1FY26 (YoY) Consumer Base (million) Distribution Loss (%) E-payment (% of total collection) 3.20 3.24 5.18% 85.68% 83.30% 4.24% Distribution loss The consumer base in Increasing e-payment consistently improving the Mumbai circle share highlights sh
Slide 18: AESL - ESG Framework and Updates
5 AESL - ESG Framework and Updates STRICTLY CONFIDENTIAL
Slide 19: AESL: ESG Framework
AESL: ESG Framework United Nations GHG Protocol SBTi Global Compact Guiding Guiding Principles and Integrated Reporting Policies TCFD CDP principles framework Disclosure Standards UN Sustainable TNFD GRI Standards Development Goals Policy Structure Focus Areas • Environment & Energy as part of IMS p
Slide 20: Environment: Key Environmental Indicators and Milestones
AESL: Key Environmental Indicators and Milestones Key Performance Indicators Current Status Baseline Short to Medium-term Targets Energy Mix & Emission Intensity - RE share in power procurement RE share in the overall power mix at AEML reached to 35.2% in FY25 3% FY19 60% by FY27 70% by FY30 AEML ha
Slide 21: Social Philosophy and Focus Areas
AESL: Social Philosophy and Focus Areas Our social Initiatives are mapped to UNSDG 2030 • Physical infrastructure and e-learning platform in rural areas Access to Education • Educational Kits (2,830 students benefited) & School Uniforms to Tiroda, Dahanu and Anganwadi children (5,780 students benefi
Slide 22: Social: Key Social Indicators and Milestones
AESL: Key Social Indicators and Milestones Material Actual Target Material Themes Key Performance Indicators Baseline Categories (FY25) (FY26) Zero Number of fatalities 1 Zero (FY 20-21) Work related injury Rate of recordable work-related injuries per million 0.33 0.01 Zero man-hours worked (FY 20-2
Slide 23: Governance Philosophy and Focus Areas
AESL: Governance Philosophy and Focus Areas Policies Committees Assurance • Environment Policy covered in BR Policy • Water Policy • Corporate Responsibility Committee • Bio-diversity Policy • Risk Management Committee Corporate • Due –diligence for CoC, HR, ESG etc Responsibility Governance Committ
Slide 24: Governance: Key Governance Indicators and Milestones
AESL: Key Governance Indicators and Milestones Material Categories Material Themes Key Performance Indicators Baseline Actions Taken and Goals Board Gender Balance the board composition in terms of men 16.6% - women directors • 28.5% of women directors in board Board Gender Diversity Diversity and w
Slide 25: AESL: Enhanced Safety Culture
AESL: Enhanced Safety Culture Safety Initiatives During Q1FY26 Safety Performance in Q1FY26 • Safety training: 55,601 man-hours of safety training and awareness during Q1FY26 Transmission Distribution (AEML) • Positive Safety Culture: Safety Parameters Q1FY26 Q1FY25 Q1FY26 Q1FY25 o Recorded 7.12 mil
Slide 26: Annexure – Rating and Operational and Under-construction Asset Portfolio
6 Annexure – Rating and Operational and Under-construction Asset Portfolio STRICTLY CONFIDENTIAL
Slide 27: AESL and AEML Credit Ratings
AESL and AEML Credit Ratings International – ATSOL Obligor Group (Transmission business) (Reg S/ 144A) International – AESL USPP (Transmission business) (Reg D) Rating Agency Facility Rating/Outlook Rating Agency Facility Rating/Outlook Fitch Dollar Bond BBB-/Negative AESL India Ratings/CRISIL/ICRA
Slide 28: Operational Asset Portfolio as of June 2025 (1/2)
AESL: Operational Asset Portfolio as of June 2025 (1/2) Adani Energy Solutions Limited 100% 100% 75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% ATSCL & WTGL, PPP Bikaner ATIL MEGPTCL AEML MUL ATBSPL ATRL RRWTL CWRTL GTL WTPL APTL STL FBTL Khetri Discom Discom MTSCL 8/9/10 Mundr
Slide 29: Operational Asset Portfolio as of June 2025 (2/2)
AESL: Operational Asset Portfolio as of June 2025 (2/2) Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Obra-C Lakadia WRSS – XXI Jam Karur Kharghar Khavda- MP WKTL AESML KTL KPS - 1 STSL Badaun (A) Khambaliya Transmission - Vikhroli Bhuj Package II Ba
Slide 30: Transmission Under-construction Asset Portfolio as of June 2025
AESL: Transmission Under-construction Asset Portfolio as of June 2025 Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Khavda – Khavda Navinal – Mahan AEMIL Khavda – Bhadla - Line & SS WRNES NKTL WR-SR III – A Navinal Jamnagar Phase IV Phase 1 Trans. HV
Slide 31: Smart Metering Under-construction Portfolio as of June 2025
AESL: Smart Metering Under-construction Portfolio as of June 2025 Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% MSEDCL MSEDCL BEST APDCL APEPDCL APCPDCL APSPDCL NBPDCL UPCL NSC-05 NSC-06 BEST Smart NE Smart Adani Adani Adani Adani Adani Adani Energy Adani Metering Ltd.
Slide 32: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Energy Solutions Limited (“AESL”),the future outlook and growth prospects, and
Slide 33: Thank You
Thank You STRICTLY CONFIDENTIAL
Adani Energy Solutions — Q1 FY2026 Earnings Presentation on 6ix