Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Q1 FY27 Earnings Presentation
35 slides from Adani Energy Solutions's earnings presentation, Jul 21, 2026
Slide 1: Exchange filing cover letter
July 21, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Scrip Code: 539254 Scrip Code: ADANIENSOL Dear Sir, Sub: Submission of Investors’ Presentation on Unaudited Financial Results
Slide 2: Q1FY27 Results Presentation
Annexure - A Adani Energy Solutions Limited Q1FY27 Results Presentation | June 2026
Slide 3: Contents
Contents 1 Executive Summary 2 Q1FY27 Financial Highlights (YoY) 3 Capex Profile 5 Q1FY27 Operational Highlights (YoY) 6 Annexure – ESG Framework and Updates Annexure – Rating and Operational and Under 7 construction Asset Portfolio STRICTLY CONFIDENTIAL
Slide 4: Executive Summary
1 Executive Summary STRICTLY CONFIDENTIAL
Slide 5: 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 (74.84%) (62.43%) (74.96%) (66.03%) (67.29%)3 AEL1 AGEL APL APSEZ Ports & Log
Slide 6: 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 EBITDA Tax paid 94,834 Finance cost paid CAT (FFO) 67,995 (72%) EBITDA 24,870 AEL 12,784 APSEZ (51%) 22,259 Adani’s Core Infra. AGEL (
Slide 7: 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 | Cemindia Projects Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Constructi
Slide 8: India's only Fully Integrated Utility Infrastructure Platform
Adani Energy Solutions: Leading Utility Platform Driving India’s Energy Transition India’s only Fully Integrated Utility Infrastructure Platform Power Transmission Business Power Distribution Business Smart Metering Business Energy Solutions Businesses Top Rated Private-sector One of the Largest Sma
Slide 9: Executive Summary – Q1FY27
AESL: Executive Summary – Q1FY27 Key Highlights Q1FY27 Key Operating Metrics Key Financial Metrics Financial Performance: Transmission – Q1 FY27 Q1FY27 FY26 – The operational revenue of Rs 7,117 crore in Q1FY27 was up 54% driven by stronger operating performance across the portfolio, contributions f
Slide 10: Q1FY27 Financial Highlights (YoY)
2 Q1FY27 Financial Highlights (YoY) STRICTLY CONFIDENTIAL
Slide 11: Consolidated Financial Highlights – Q1FY27 YoY
AESL: Consolidated Financial Highlights – Q1FY27 YoY Operational EBITDA (In Rs Cr) Total Income Operational Revenue 9,852 7,117 2,779 7,026 4,6171 1,6321 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Total EBITDA PAT Cash Profit 3,178 1,776 1,237 2,017 1,043 539 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27
Slide 12: Segment–wise Financial Highlights – Q1FY27 YoY
AESL: Segment–wise Financial Highlights – Q1FY27 YoY Operational Revenue1 Operational EBITDA1 (In Rs Cr) 3,360 3,520 1,477 1,070 1,839 1,596 1,172 587 590 493 68 161 125 18 52 17 Transmission Distribution Smart Energy Transmission Distribution Smart Energy Metering (IND Solutions Metering (IND Solut
Slide 13: Segment wise Revenue bridge – Q1FY27 YoY
AESL: Segment wise Revenue bridge – Q1FY27 YoY (In Rs Cr) Smart Metering Energy Solutions Transmission Distribution Others Consolidated (IND AS)2 Platform Particulars / Segments Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Operating Revenue1 1,596 1,172 3,520 3
Slide 14: Segment wise EBITDA bridge – Q1FY27 YoY
AESL: Segment wise EBITDA bridge – Q1FY27 YoY (In Rs Cr) Smart Metering Energy Solutions Transmission Distribution Others Consolidated (IND AS)2 Platform Particulars / Segments Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Operating EBITDA1 1,477 1,070 587 493 1
Slide 15: Capex Profile
3 Capex Profile STRICTLY CONFIDENTIAL
Slide 16: 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: Q1 FY26 vs Q1 FY27 • Capex in Q1FY27 increased by 1.57x to Rs 3,498 Cr with steady capex performance across all three segments Overall Capex 3,498 838 • With project win, transmi
Slide 17: Q1FY27 Operational Performance (YoY)
5 Q1FY27 Operational Performance (YoY) STRICTLY CONFIDENTIAL
Slide 18: Transmission Utility – Key Operating Metrics Q1FY27 (YoY)
AESL: Transmission Utility – Key Operating Metrics Q1FY27 (YoY) Transmission Network Length(2)(3) (ckm) Power Transformation Capacity(2) (MVA) 27,949 1,23,175 26,696 93,236 New order win boosted the Transformation capacity transmission network, reflecting expanded with new project strong bidding cap
Slide 19: AEML: Distribution Utility – Key Operating Metrics Q1FY27 (YoY)
AEML: Distribution Utility – Key Operating Metrics Q1FY27 (YoY) Supply Reliability (ASAI) (%) SAIDI (mins), SAIFI (nos.) and CAIDI (mins)(1) SAIFI SAIDI CAIDI SAIFI SAIDI CAIDI 99.997% 99.994% 33.57 31.08 Reliability metrics were Maintained supply impacted by extreme reliability at 99.99% heatwave c
Slide 20: AEML: Distribution Utility – Key Operating Metrics Q1FY27 (YoY)
AEML: Distribution Utility – Key Operating Metrics Q1FY27 (YoY) Consumer Base (million) Distribution Loss (%) E-payment (% of total collection) 5.16%* 87.73% 3.29 85.68% 3.24 4.24% E-payment share The consumer base in Increased due to higher increased due to digital the Mumbai circle energy consumpt
Slide 21: Annexure - ESG Framework and Updates
7 Annexure - ESG Framework and Updates STRICTLY CONFIDENTIAL
Slide 22: ESG Framework
AESL: ESG Framework Guiding Principles & Disclosure Standards Policy Structure — E · S · G ❑ CDP – CC, WS, SEA • Environment & Energy (IMS Policy) ❑ UN Global Compact E • Biodiversity Policy • Energy Management System ❑ SBTi ❑ UN-SDGs Guiding Policies principles • Human Rights Guidelines ❑ GHG Proto
Slide 23: Key Environment Indicators and Milestones
AESL: Key Environment Indicators and Milestones Energy Mix & Emission Intensity Reduction in energy intensity GHG Emission Intensity Reduction >50% FY26 197.04 tCO₂e/EBITDA · FY26 (w/o RECs) Intensity aligned with India’s NDC climate goals Baseline 481.30 GJ/million rupee revenue in FY 2019-20 Basel
Slide 24: Key Social Indicators and Milestones
AESL: Key Social Indicators and Milestones Health & Safety Safety Training Diversity & Inclusion Work-Related Injury (Q1FY27) Awareness & Capability Workforce Diversity 0.31 0 3.0 hrs 12% LTFIR per million fatalities Health &Safety training per person (Q1-FY2027) women in permanent workforce (FY26)
Slide 25: Social Philosophy and Focus Areas
AESL: Social Philosophy and Focus Areas Our social Initiatives are mapped to UN-SDG 2030 Access to Education Community Health Women’s Empowerment 1,50,000+ 26,205 4,500+ students reached vision screenings women mobilized • 947 BMC schools with 5,000+ teachers & 300+ Sahayaks • 9,114 spectacles distr
Slide 26: Governance Philosophy and Focus Areas
AESL: Governance Philosophy and Focus Areas Policies Committees Assurance Environmental & ESG • Environment Policy (in BR Policy) • Corporate Responsibility Committee • Water Policy • Risk Management Committee • Bio-diversity Policy • Due-diligence for CoC, HR & ESG 100% Independent Directors’ Socia
Slide 27: Key Governance Indicators and Milestones
AESL: Key Governance Indicators and Milestones Board Gender Diversity Board Independence Code of Anti-Competitive Independence & Disclosures Board Composition Conduct Practices 50% Corruption & Bribery Fines & Settlements 25% non-executive independent directors Zero Rs 0 • 4 independent · 2 NE non-I
Slide 28: Enhanced Safety Culture
AESL: Enhanced Safety Culture Safety Initiatives During Q1FY27 Safety Performance in Q1FY27 Transmission Distribution (AEML) • Safety training: 63,023 man-hours of safety training and awareness during Q1FY27 • Positive Safety Culture: Safety Parameters Q1FY27 Q1FY26 Q1FY27 Q1FY26 o No Incident/ Lost
Slide 29: Annexure – Ratings and Operational and Under-construction Asset Portfolio
8 Annexure – Ratings and Operational and Under-construction Asset Portfolio STRICTLY CONFIDENTIAL
Slide 30: Credit Ratings Highlights
AESL: Credit Ratings Highlights International – ATSOL Obligor Group (Transmission business) (Reg S/ 144A) SPV Ratings - Domestic RatingRating Agency Agency FacilityFacility Rating/Outlook Rating/Outlook Company Rating Agency Rating Outlook WTGL India Ratings AAA Stable Fitch Dollar Bond BBB-/Stable
Slide 31: Operational Asset Portfolio as of June 2026
AESL: Operational Asset Portfolio as of June 2026 Transmission Line Transformation Contract Sr No. Projects Name Transmission Line (Asset Details) Length (ckm) Capacity (MVA) Type 1 Adani Transmission India Limited (ATIL) Mundra – Dehgam, Mundra – Mohindergarh and Tiroda – Warora 3,834 6,630 ROA 2 M
Slide 32: Transmission Under-construction Asset Portfolio as of June 2026
AESL: Transmission Under-construction Asset Portfolio as of June 2026 Transmission Line Transformation Contract Levelized Tariff / Sr No. Projects Name Transmission Line (Asset Details) Length (ckm) Capacity (MVA) Type Billing (Rs Crores) 1 WRSR Transmission Limited (WRSR) WRSR (Narendra – Pune Line
Slide 33: Smart Metering Under-construction Portfolio as of June 2026
AESL: Smart Metering Under-construction Portfolio as of June 2026 Smart Meters Revenue Potential Contract Period Contract Month of Sr No. Projects Name Coverage Area Qty (Mn) (Rs Cr) (months) Type Award Sept & Oct’22 1 Brihanmumbai Electric Supply & Transport Undertaking (BEST) Mumbai (BEST Circle)
Slide 34: 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 35: Thank You
Thank You STRICTLY CONFIDENTIAL
Adani Energy Solutions — Q1 FY27 Earnings Presentation on 6ix