Adani Energy Solutions Ltd. Q3 FY2026 results: revenue ₹6,730 crore, up 15.4% on the year
Adani Energy Solutions Ltd. (ADANIENSOL) reported consolidated revenue from operations of ₹6,730 crore for Q3 FY2026, the quarter ended 31 December 2025, up 15.4% on the same quarter a year earlier. Profit after tax was ₹574 crore, down 8.2% on the year, and earnings per share ₹6.34. The figures are the company's own, from the un-audited results it filed with NSE on 22 January 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 6,730 | 6,596 | 5,830 | +15.4% |
| Other income | 215 | 171 | 170 | +26.3% |
| Total income | 6,944 | 6,767 | 6,000 | +15.7% |
| Cost of materials consumed | 1,508 | 1,601 | 1,476 | +2.2% |
| Purchases of stock-in-trade | 231 | 189 | 344 | -32.9% |
| Changes in inventories | 0 | 0 | 0 | n/a |
| Employee benefit expense | 318 | 236 | 230 | +38.1% |
| Finance costs | 913 | 872 | 809 | +12.8% |
| Depreciation, depletion and amortisation | 496 | 509 | 462 | +7.3% |
| Other expenses | 692 | 656 | 1,656 | -58.2% |
| Total expenses | 5,803 | 5,688 | 4,976 | +16.6% |
| Profit before exceptional items and tax | 1,141 | 1,079 | 1,024 | +11.5% |
| Exceptional items | 0 | 0 | 0 | n/a |
| Profit before tax | 1,141 | 1,079 | 1,024 | +11.5% |
| Current tax | 73 | 87 | 22 | +223.7% |
| Deferred tax | 154 | 102 | -88 | n/a |
| Total tax | 227 | 189 | -66 | n/a |
| Profit after tax | 574 | 557 | 625 | -8.2% |
| Attributable to owners of the parent | 552 | 534 | 562 | -1.7% |
| Other comprehensive income | 172 | 233 | -86 | n/a |
| Total comprehensive income | 746 | 790 | 539 | +38.4% |
| EPS, basic | ₹6.34 | ₹6.19 | ₹4.85 | +30.7% |
| EPS, diluted | ₹6.34 | ₹6.19 | n/a | n/a |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 1.89 | 1.86 | 0.02 | |
| Debt service coverage | 1.91 | 1.93 | 0.01 | |
| Interest service coverage | 1.88 | 1.86 | 0.02 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Segments, Q3 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Transmission | 2,426 | 39.4% | 986 | 40.6% |
| Distribution | 3,104 | 50.4% | 284 | 9.2% |
| Smart Meter | 235 | 3.8% | 110 | 47.0% |
| Trading | 255 | 4.1% | 23 | 9.0% |
| Other | 137 | 2.2% | 34 | 25.1% |
Segment revenue and segment result as the company filed them, before inter-segment eliminations; share and result over revenue are arithmetic on those.
Quarterly results, the last 12 quarters
| Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,664 | 3,674 | 4,563 | 4,707 | 6,184 | 5,830 | 6,375 | 6,819 | 6,596 | 6,730 | 7,443 | 9,711 |
| Expenses | 3,125 | 3,242 | 4,253 | 4,359 | 5,694 | 4,976 | 5,412 | 5,864 | 5,688 | 5,803 | 6,760 | 8,440 |
| Operating profit | 1,574 | 1,505 | 1,527 | 1,566 | 1,787 | 2,125 | 2,251 | 2,315 | 2,289 | 2,336 | 2,145 | 3,008 |
| OPM % | 43% | 41% | 33% | 33% | 29% | 36% | 35% | 34% | 35% | 35% | 29% | 31% |
| Other income | 108 | 93 | 262 | 148 | 176 | 170 | 222 | 206 | 171 | 215 | 145 | 141 |
| Interest | 616 | 641 | 760 | 750 | 813 | 809 | 826 | 894 | 872 | 913 | 954 | 1,152 |
| Depreciation | 419 | 432 | 458 | 468 | 484 | 462 | 462 | 465 | 509 | 496 | 508 | 585 |
| Exceptional items | -1 | -154 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29 |
| Profit before tax | 647 | 370 | 571 | 496 | 666 | 1,024 | 1,185 | 1,162 | 1,079 | 1,141 | 828 | 1,441 |
| Tax % | 25% | 23% | 29% | 34% | -27% | -6% | 24% | 10% | 17% | 20% | 23% | 11% |
| Net profit | 182 | 284 | 348 | 381 | 773 | 625 | 687 | 539 | 557 | 574 | 723 | 1,237 |
| EPS in ₹ | ₹1.57 | ₹2.47 | ₹2.92 | ₹2.94 | ₹6.09 | ₹4.85 | ₹6.57 | ₹6.88 | ₹6.19 | ₹6.34 | ₹5.27 | ₹9.57 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 31 December 2025, filed with NSE on 22 January 2026: the result statement. All of Adani Energy Solutions Ltd.'s results: NSE company page.
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