$ADANIENSOL Financial performance and key operating metrics (consolidated) Operating Revenue for Q1FY27 is Rs. 9,711 Crs., 42.41% growth YoY, Total Income is Rs. 9,852 Crs., 40.24% growth YoY, EBITDA is Rs. 3,178 Crs., 57.57% growth YoY, EBITDA Margin is 32.26% improved by 355 Basis points YoY, PBT Rs. 1,441 Crs. 118.99% growth YoY, PAT Rs. 1,237 Crs. 129.44% growth YoY. On QoQ basis Op. Revenue is up by 30.47%, Total Income is up by 29.84%, EBITDA is up by 33.98%, PBT is up by 58.34% and PAT is also up by 71.11%. Management stated AESL has “transitioned into a full scale utility” with four operating verticals now active: Transmission, Distribution, Smart Metering, and Energy Solutions. The key change vs prior quarters is that Energy Solutions has been fully scaled and operationalized. Energy Solutions Platform (newly scaled; principal incremental driver in Q1. Capex in Q1FY27 increased by 1.57x to Rs 3,498 Cr with steady capex performance across all three segments Smart Metering (scale + inorganic expansion; remaining tender runway) Installed base and order book: • Cumulative installations: 1.34 crore (13.4 million) meters. • Current AESL order book: 2.46 crore (24.6 million).

#FundamentalViews#WatchOutFor#EquityResearch#MacroViews#HiddenGems

1,140 likes·75 comments