Ahmedabad, 24 April 2025: Adani Energy Solutions Limited ("AESL"), part of the globally diversified Adani portfolio and the largest private transmission and distribution company in India with a large smart metering portfolio, today announced its financial and operational performance for the quarter and year ended March 31, 2025.
"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. As we embark on the next fiscal year, the company remains focused on incremental project commissioning, significantly increase the meter installation as well as achieving operating efficiencies in all lines of businesses. 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. In terms of our ESG pursuit, we remain committed to sustainable business practices and continue to achieve feats," said KandarpPatel, CEO, Adani Energy Solutions.
Q4 FY25 and FY25 Highlights:
Consolidated Financial Performance: (Rs Crore)
Particulars |
Q4 FY25 |
Q4 FY24 |
YoY % |
FY25 |
FY24 |
YoY % |
Operational Revenue |
4,116 |
3,560 |
15.6 |
17,057 |
14,217 |
20.0 |
Total Income |
6,596^ |
4,855^ |
35.9 |
24,447^ |
17,218^ |
42.0 |
Operating EBITDA |
1,757 |
1,619 |
8.5 |
6,571 |
5,696 |
15.4 |
Total EBITDA |
2,262 |
1,769 |
27.8 |
7,746 |
6,323 |
22.5 |
PAT |
714 |
381 |
87.2 |
2,427# |
1,195 |
103.1 |
Adjusted PAT |
566* |
381 |
48.4 |
1,810#* |
1,195 |
51.5 |
Cash profit |
1,358 |
952 |
42.7 |
4,292# |
3,257 |
31.8 |
Notes: Total Income = Operational revenue + income from Service Concession Agreement (SCA) assets / EPC / traded goods + One time income/expense + Other Income; Total EBITDA = Operating EBITDA plus other income, one-time regulatory income, adjusted for CSR exp.; Cash profit calculated as PAT + Depreciation and amortization expenses + Deferred Tax + MTM option loss); #Adjusted for an exceptional item due to carve-out of the Dahanu power plant of Rs 1,506 crore; *Adjusted for regulatory income of Rs 148 crore in Q4 and FY25 in T&D segments and net one-time deferred tax reversal of Rs 469 crore in FY25 in AEML distribution business ^Includes SCA income of Rs 1,804 crore in Q4FY25 vs Rs 743 crore in Q4FY24 and Rs 5,064 crore in FY25 vs Rs 858 crore in FY24
Income: During FY25, the total income of Rs 24,447 crore witnessed robust growth of 42% and operational revenue of Rs 17,057 crore grew by 20% YoY on account of the contribution of the newly operationalized transmission assets (MP Package–II, KVTL, KBTL, WKTL lines), contribution from acquired Mahan Sipat line and an increase in energy sales led by positive demand growth in distribution business at Mumbai and Mundra and growing contribution from smart metering business
EBITDA:
PAT: FY25 PAT of Rs 2,427 crore increased by 103% YoY due to strong EBITDA growth and aided by a reversal of Rs 469 crore in net deferred tax liability primarily from divesting AEML's Dahanu plant and regulatory income of Rs 148 crore in transmission and distribution businesses
Segment-wise Financial Highlights: (Rs Crore)
Segment |
Particulars |
Q4 FY25 |
Q4 FY24 |
YoY % |
FY25 |
FY24 |
YoY% |
Transmission |
Op Revenue |
1,213 |
1,164 |
4.3 |
4,774 |
4,045 |
18.0 |
Operating EBITDA |
1,108 |
1,059 |
4.6 |
4,366 |
3,688 |
18.4 |
|
EBITDA |
1,326 |
1,138 |
16.5 |
4,991 |
3,962 |
26.0 |
|
PAT |
406 |
297 |
36.9 |
1,380 |
965 |
43.0 |
|
Cash Profit |
705 |
613 |
14.9 |
2,635 |
2,062 |
27.8 |
|
(AEML and MUL) |
Op Revenue |
2,875 |
2,396 |
20.0 |
12,234 |
10,173 |
20.3 |
Operating EBITDA |
634 |
559 |
13.3 |
2,175 |
2,007 |
8.4 |
|
EBITDA |
873 |
630 |
38.6 |
2,611 |
2,359 |
10.7 |
|
PAT |
273 |
85 |
222.6 |
#979 |
231 |
323.8 |
|
Cash Profit |
621 |
339 |
83.3 |
#1,581 |
1,196 |
32.2 |
Notes: #Adjusted for an exceptional item because of carve-out of the Dahanu power plant in line with Ind AS 105 of Rs 1,506 crore. KVTL – Kharghar Vikhroli, KBTL – Khavda Bhuj, WKTL: Warora Kurnool, MP-II: Madhya Pradesh Package II; ATSTL: Adani Transmission Step-Two Limited Ltd (Mahan Sipat), AEML: Adani Electricity Mumbai Ltd; MUL: MPSEZ (Mundra) Utility Ltd
Segment-wise Key Operational Highlights:
Particulars |
FY25 |
FY24 |
Change |
Transmission business |
|
|
|
Average Availability (%) |
99.7% |
99.6% |
Higher |
Transmission Network Added (ckm) |
695 |
1,244 |
Lower |
Total Transmission Network (ckm) |
26,696 |
20,509 |
Higher |
Distribution business (AEML) |
|
|
|
Supply reliability (%) |
99.99% |
99.99% |
In line |
Distribution loss (%) |
4.77% |
5.29% |
Lower |
Units sold (MU's) |
10,558 |
9,916 |
Higher |
Distribution business (MUL) |
|
|
|
Units sold (MU's) |
948 |
658 |
Higher |
Transmission business:
Sr. No. |
Project Name |
Project Cost (Rs crore) |
Levelized Tariff p.a. (Rs crore) |
1 |
Khavda Phase IV Part A |
4,102 |
509 |
2 |
Navinal (Mundra) - NES |
2,495 |
299 |
3 |
Jamnagar - NES |
3,938 |
392 |
4 |
Khavda Phase IV Part D - Pune III |
3,455 |
589 |
5 |
Rajasthan Phase - III Part I (HVDC) |
25,000 |
3,557 |
6 |
Navinal (Mundra) Phase I Part B1 |
2,800 |
308 |
7 |
Mahan Transmission Ltd |
2,200 |
363 |
|
Total |
43,990 |
6,017 |
Distribution business (AEML Mumbai and MUL Mundra):
Segment-wise Progress and Outlook:
Transmission:
Distribution:
Smart Meters:
ESG Updates:
Achievements: