Adani Energy Solutions Ltd (AESL) incurred capital expenditure of Rs.5,542 crore in its power transmission business during the first half (H1: April to September) of FY27. This was 66 per cent higher than the corresponding Rs.3,343 crore in H1FY26.
Here are some more operational highlights:
- AESL’s overall capital expenditure covering transmission, distribution and smart metering was Rs.4,353 crore in the second quarter (Q2: July to September) of FY27, up 16 per cent from Rs.3,752 crore in Q2FY26.
- Nearly 77 per cent of the Q2FY27 capex was in the power transmission vertical.
- AESL’s power transmission portfolio (including both operational and under-construction projects) stood at 29,802 ckm as of September 30, 2026, up from 26,705 ckm as of September 30, 2025.
- Likewise, aggregate transformation capacity (operational and under-construction) was 143,425 MVA as against 97,236 MVA, bolstered by new project wins.
- During H1FY26, AESL won two interstate transmission system (ISTS) projects under the tariff-based competitive bidding (TBCB) framework – Vizag and Satara. These projects have an aggregate annual revenue potential (in terms of tariff) of Rs.1,474 crore, and have added 2,032 ckm of lines and 19,500 MVA of transformation capacity to AESL’s overall portfolio.
- AESL’s smart metering portfolio remained unchanged during Q2FY26, comprising 24.6 million meters (including those operational) with aggregate revenue potential of nearly Rs.30,000 crore covering the full concession period.
- AESL’s installed base of smart meters doubled from 7.4 million as of September 30, 2025 to 14.8 million as of September 30, 2026. The company maintained an installation rate of around 19,000 meters per day during H1FY27.
- AESL’s Mumbai discom Adani Electricity Mumbai Ltd (AEML) enjoyed lower distribution losses of 3.3 per cent in Q2FY27 as against 4.4 per cent in Q2FY26. Electricity sales in Q2FY27, at 2,930 million kWh, were nearly 11 per cent higher, year-on-year.
Strong operational momentum
Commenting on the company’s performance, Kandarp Patel, CEO, Adani Energy Solutions Ltd, said, “AESL closed the first half of the fiscal year with strong financial and operational momentum, laying a robust foundation for future growth. We significantly expanded our growth pipeline by winning the strategic Vizag and Satara transmission assets, elevating our active order book to around Rs.87,000 crore.
Operationally, our Mumbai distribution business grew by nearly 11 per cent in MUs sold, while our smart metering platform scaled its installation base to around 15 million meters. A significant 2.5 GW RTC power supply contract with MSEDCL reinforced AESL’s core competencies in multi-source energy aggregation and power supply optimization for its customers.
Backed by robust quarter-on-quarter performance across all business segments and strict financial prudence, we are well-positioned to convert this massive project pipeline into long-term stakeholder value.”
Statistical tabulations
Featured photograph (source: Adani Energy Solutions Ltd) is for representation only