Beating analyst estimates, Adani Energy Solutions (AESL) reported a 79% year-on-year jump in net profit for Q4FY25, coming in at Rs 647 crore, compared to Rs 361 crore in the same quarter last year. Analysts had projected a profit of Rs 310 crore.
The company also exceeded revenue expectations, reporting a 35% rise to Rs 6,375 crore for the quarter, up from Rs 4,707 crore in Q4FY24. The consensus estimate was pegged at Rs 5,440 crore.
Ebitda for the quarter surged 44% to Rs 2,251 crore, compared to Rs 1,566 crore a year ago, also beating analyst expectations of Rs 1,832 crore.
Despite a robust Q4, AESL’s net profit for the full fiscal year FY25 declined 7% to Rs 1,060 crore, down from Rs 1,137 crore in FY24. However, annual revenue rose sharply by 43% to Rs 23,767 crore, compared to Rs 16,607 crore in the previous year.
The company stated that Ebitda for FY25 witnessed a growth of 23%—reaching Rs 7,746 crore—to double-digit revenue growth in the transmission segment, consistent expansion in the Mumbai utility’s Ebitda vis-à-vis the 13% YoY growth in regulated asset base, and higher treasury income.
Capital expenditure in FY25 doubled to Rs 11,444 crore from Rs 5,613 crore in FY24. The company noted that its leverage remains within comfortable limits, with a net debt-to-Ebitda ratio of 3.2x, in line with guidance.
AESL said FY25 saw unprecedented transmission bidding activity of Rs 1,61,540 crore, with its market share at 28%. The near-term tendering pipeline is approximately Rs 54,000 crore.
In Q4FY25, AESL secured two new transmission projects—Navinal (Mundra) Phase I Part B1 and Mahan Transmission—bringing the total project wins in FY25 to seven. These projects collectively represent a total cost of Rs 43,990 crore, boosting the company’s cumulative order book to Rs 59,936 crore.
“AESL delivered strong operating and financial performance in FY25 backed by its distinguished ability to execute the complex projects, compete and outperform peers in the project bids and remain financially prudent at the same time,” said Kandarp Patel, CEO, Adani Energy Solutions.
Patel emphasized the company’s focus for FY26: “We remain focused on incremental project commissioning, significantly increasing meter installations, as well as achieving operating efficiencies across all lines of businesses.”
Patel said the integrated business model and underlying power demand trends in our areas of operation are encouraging and complements our capital allocation policy. “We are confident that the growth opportunity visible across all our business segments will help us further consolidate our market position,” he said.