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ADANIENSOL.NS

Adani Energy Solutions Ltd.

Power
Price research

Price history

Max window · 2021-08-23 to 2026-09-22

Start 2021-08-23 ₹1179.60
End 2026-09-22 ₹1381.70
Change over window +17.13%
Methodology

Price is the daily close from stored Kite history. The other metrics pair that daily price with the company's periodic filings — each fundamental (revenue, EPS, equity…) is held flat at its latest filed value between annual filings, so a ratio steps at each filing and moves daily only through its price term. A metric with no input on file for this company (e.g. EV/EBITDA for a bank, which has no EBIT) is shown as unavailable, never guessed. Share-count-based metrics use the latest diluted share count against split/bonus-adjusted prices.

Technical analysis

Technical indicators

Same window as the price chart above

These reflect only the stock's recent price and volume behavior — not the company's fundamentals — and are not a recommendation to buy or sell. Standard published parameters are used throughout (see each chart's own label); a company with too little stored price history for a given indicator's lookback window shows that plainly below rather than a garbage or misleading value.

Latest value of each line in the charted window
Methodology

MACD (12,26,9), Stochastic Oscillator (14,3) and Money Flow Index (14-day) each carry their own published reference lines/bands (20/80 for the oscillator readings) where one is standard. ADX includes +DI/-DI for direction alongside trend strength; a dashed line marks the commonly published 25 "trending market" reading. ATR is shown in raw rupees here; the price/volume preset screen (below, and on the Screener page) reports it as a % of price so it's comparable across stocks at different price levels. Computed from the same stored daily OHLCV history as the price chart above — no new data source.

Ratios as of FY2025-26 Annual filing · published 2026-04-23
Price (live) ₹1381.70 INR fetched 2026-09-23 01:58
Fundamental analysis

Ratios

Calculated from this company's filed figures, and from the current price where a ratio needs one. Every ratio shows its source trace: the filed elements it reads and the arithmetic behind the result.

P/E

72.72

P/E = Price / EPS

Source trace FY2025-26 · Annual filing

P/E = Price / (ProfitOrLossAttributableToOwnersOfParent / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) → ₹1,381.70 / (₹22,825,400,000 / 1,201,280,000 shares) = ₹1,381.70 / ₹19.00 EPS

ROE

8.98%

ROE = Net Income / Shareholder Equity

Source trace FY2025-26 · Annual filing

ROE = ProfitOrLossAttributableToOwnersOfParent / EquityAttributableToOwnersOfParent → ₹22,825,400,000 / ₹254,275,400,000 = 8.98%

Debt/Equity

1.92

Debt/Equity = Total Debt / Shareholder Equity

Source trace FY2025-26 · Annual filing

Debt/Equity = BorrowingsCurrent + BorrowingsNoncurrent / EquityAttributableToOwnersOfParent → ₹488,984,500,000 / ₹254,275,400,000 = 1.92

Current Ratio

1.15

Current Ratio = Current Assets / Current Liabilities

Source trace FY2025-26 · Annual filing

Current Ratio = CurrentAssets / CurrentLiabilities → ₹178,257,600,000 / ₹154,462,800,000 = 1.15

ROCE

10.55%

ROCE = EBIT / (Shareholder Equity + Total Debt)

Source trace FY2025-26 · Annual filing

ROCE = ProfitBeforeExceptionalItemsAndTax + FinanceCosts / (EquityAttributableToOwnersOfParent + BorrowingsCurrent + BorrowingsNoncurrent) → ₹78,433,000,000 / (₹254,275,400,000 + ₹488,984,500,000) = 10.55%

Dividend Yield

0.00%

Dividend Yield = (Dividends Paid / Diluted Shares Outstanding) / Price

Qualification This is cash paid during the fiscal year, not a per-share rate declared for it (no such element exists in the filing data) — timing can straddle interim/final dividends across years, and pre-FY2020-21 figures may include the since-abolished Dividend Distribution Tax, reading higher than later years for that reason alone.

Source trace FY2025-26 · Annual filing

Dividend Yield = (|DividendsPaidClassifiedAsFinancingActivities| / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) / Price → (₹0 / 1,201,280,000 shares) / ₹1,381.70 = ₹0.00 / ₹1,381.70

Growth & quality

Growth & earnings trend

Computed from this company's stored annual filings. Each figure carries the filed values behind it as a tooltip.

Revenue CAGR · 3y 27.5%
Net profit CAGR · 3y 9.0%
Operating margin · FY2025-26 28.4%
ROCE · FY2025-26 10.4%

Revenue & Profit CAGR

Revenue (3y, 8.0y actual)
27.5%
Net Profit (3y)
9.0%
Revenue (5y, 8.0y actual)
27.5%
Net Profit (5y)
9.0%
Revenue (10y, 8.0y actual)
27.5%
Net Profit (10y)
9.0%

Operating Margin Trend

Eroding
FY2017-18
59.8%
FY2018-19
29.2%
FY2020-21
31.8%
FY2021-22
30.1%
FY2022-23
26.0%
FY2023-24
30.1%
FY2024-25
30.2%
FY2025-26
28.4%

ROCE Trajectory

FY2017-18
N/A
FY2018-19
N/A
FY2020-21
N/A
FY2021-22
N/A
FY2022-23
7.4%
FY2023-24
9.9%
FY2024-25
11.4%
FY2025-26
10.4%

Earnings Quality

No persistent gap detected

Net Profit CAGR 17.33% vs CFO CAGR 28.00% over 4.0y (2022-03-31 → 2026-03-31); most recent year: Net Profit +115.34% vs CFO +26.47%

Sector-Relative Percentile

Sector · Power
ROE 38th percentile Better than 6 of 16 sector peers (38th percentile).
ROCE 81th percentile Better than 13 of 16 sector peers (81th percentile).
Debt/Equity 25th percentile Better than 4 of 16 sector peers (25th percentile).
P/E 13th percentile Better than 2 of 16 sector peers (12th percentile).
Forensic accounting

Beneish M-Score

Eight year-over-year accounting indices (Beneish, 1999) computed for Adani Energy Solutions Ltd. across its two most recently stored annual filings. Read the disclosures below before anything past this paragraph.

This is not an accusation and not a finding that any manipulation occurred. Beneish's own paper is explicit that the score identifies companies whose accounting CHARACTERISTICS resemble those of a sample of past manipulators -- nothing more. StockProof never labels a company "manipulator", "red flag" or "suspicious", and never shows any list of companies ordered by this score. The eight components below -- factual statements about figures the company itself filed -- always come before the composite number, which is the inference, not the fact.

The M-Score is calibrated on 74 US-listed companies from 1982-1992 later found to have manipulated earnings (Beneish, M. D. (1999), "The Detection of Earnings Manipulation", Financial Analysts Journal 55(5)) -- not on any Indian company or era. Measured on StockProof's own Nifty 500 universe as of 2026-09-02, 13.6% of companies score above Beneish's own published cutoff. On any realistic base rate of actual earnings manipulation, that flag rate is overwhelmingly false positives, not overwhelmingly real ones.

No "Selling, General & Administrative Expense" element exists anywhere in NSE's filed data. The SGAI component below is approximated as Employee Benefit Expense + Other Expenses, divided by revenue -- a reasonable stand-in for a manufacturer, but for a services company this proxy is closer to the entire cost base than to SG&A specifically. This is disclosed because it is a genuine deviation from Beneish's published specification; its coefficient (-0.172) is the smallest of the eight, which bounds how far the approximation can move the composite.

This measures something different from a financial-distress score like Altman's Z-Score, and the two essentially never agree. Measured on StockProof's own 389-company overlap as of 2026-09-02: only 5 companies were flagged by both, an agreement rate (intersection ÷ union) of 6.2%, and a correlation between the two scores of +0.088 -- closely matching the independently measured +0.092 over 3,242 Malaysian-listed companies. A low Z-Score and a high M-Score are not corroborating each other; they are unrelated measurements.

Comparing FY2024-25FY2025-26

Index Value Beneish's own threshold Reading, vs. that threshold
DSRI — Days' Sales in Receivables Index 1.171 1.031 Exceeds Beneish's published threshold
GMI — Gross Margin Index 0.965 1.014 Below Beneish's published threshold
AQI — Asset Quality Index 1.051 1.039 Exceeds Beneish's published threshold
SGI — Sales Growth Index 1.161 1.134 Exceeds Beneish's published threshold
DEPI — Depreciation Index 1.143 1.077 Exceeds Beneish's published threshold
SGAI — SG&A Index 1.142 1.041 Exceeds Beneish's published threshold
LVGI — Leverage Index 1.033 1.111 Below Beneish's published threshold
TATA — Total Accruals to Total Assets -0.094 0.018 Below Beneish's published threshold
M-Score (composite) -2.635 Beneish's own published cutoff: -1.78 (a looser cutoff sometimes used in Indian applications: -2.22)

This is a reading against a published statistical model, not a finding and not a verdict on this company -- see the disclosures above, especially how this compares to a general population's own measured false-positive rate.

Financials

Quarterly trend

10 stored quarters

Revenue Net Profit Net Profit (loss quarter)
Metric (to shareholders basis) Q4 FY2023-24 Q1 FY2024-25 Q2 FY2024-25 Q3 FY2024-25 Q4 FY2024-25 Q1 FY2025-26 Q2 FY2025-26 Q3 FY2025-26 Q4 FY2025-26 Q1 FY2026-27 Source
Revenue ₹4,706.85 Cr. ₹5,378.55 Cr. ₹6,183.70 Cr. ₹5,830.26 Cr. ₹6,374.58 Cr. ₹6,819.28 Cr. ₹6,595.83 Cr. Gross ₹5,962.34 Cr. ₹6,729.65 Cr. Gross ₹6,156.73 Cr. ₹7,443.27 Cr. Gross ₹6,766.58 Cr. ₹9,711.08 Cr. Gross ₹9,265.53 Cr. RevenueFromOperations
Net Profit ₹361.44 Cr. incl. minority ₹381.29 Cr. ₹-823.92 Cr. incl. minority ₹-1,190.66 Cr. ₹674.96 Cr. incl. minority ₹773.39 Cr. ₹561.78 Cr. incl. minority ₹625.30 Cr. ₹647.15 Cr. incl. minority ₹686.54 Cr. ₹512.48 Cr. incl. minority ₹538.94 Cr. ₹533.97 Cr. incl. minority ₹557.10 Cr. ₹552.31 Cr. incl. minority ₹574.06 Cr. ₹683.78 Cr. incl. minority ₹722.65 Cr. ₹1,149.06 Cr. incl. minority ₹1,236.56 Cr. ProfitOrLossAttributableToOwnersOfParent
Basis

Primary figures are Revenue from Operations and Net Profit attributable to shareholders — the basis the ratios use. Where they differ, the companion Gross revenue (incl. inter-segment) and incl. minority net profit (the totals a news headline usually quotes) are shown beneath, each traceable to its own XBRL element. Quarters shown are however many are actually stored (up to 10).

Ownership

Shareholding pattern

Latest filing Jul 2026 · 12 filings on file

Promoter & Promoter Group
73.39%
Public
26.61%
Employee Trusts
0.00%
Promoter % Public %
Metric Mar 2024 Jun 2024 Aug 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Jul 2026
Promoter & Promoter Group 73.22% 74.94% 69.59% 69.94% 69.94% 69.94% 71.19% 71.19% 71.19% 72.73% 74.71% 73.39%
Public 26.78% 25.06% 30.41% 30.06% 30.06% 30.06% 28.81% 28.81% 28.81% 27.27% 25.29% 26.61%
Employee Trusts 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Source

Promoter vs. public shareholding, from NSE's own quarterly shareholding-pattern filings. This is the headline promoter/public split only — a further breakdown by FII/DII/mutual fund holders requires each filing's own detailed disclosure and isn't shown here.

Trading activity

Delivery volume

20 trading days shown

Latest (2026-09-22) 60.5%
Trailing 20-day average 50.5%
Date Traded Qty Delivery Qty Delivery %
2026-09-22 1791593 1083494 60.48%
2026-09-21 1943661 1201740 61.83%
2026-09-18 2145921 1136258 52.95%
2026-09-17 1185354 620372 52.34%
2026-09-16 946914 412735 43.59%
2026-09-15 822951 347380 42.21%
2026-09-11 1154404 427239 44.53%
2026-09-10 1412618 617267 43.70%
2026-09-09 1914487 725191 37.88%
2026-09-08 1308434 532376 40.69%
2026-09-07 1342576 660949 49.23%
2026-09-04 1386991 620353 44.73%
2026-09-03 1939729 892178 45.99%
2026-09-02 4214587 2048674 48.61%
2026-09-01 8161918 3747773 45.92%
2026-08-31 35589890 29550724 83.03%
2026-08-28 1647674 797357 48.39%
2026-08-27 4514708 2658848 58.89%
2026-08-26 3719296 2069009 55.63%
2026-08-25 2043772 1005987 49.22%
Source

Delivery quantity/percentage from the NSE bhavcopy (DELIV_QTY/DELIV_PER) — the share of that day's traded volume that actually settled into a demat account, rather than being squared off intraday. A higher delivery percentage is commonly read as genuine accumulation/distribution rather than speculative same-day trading; this describes recent trading PATTERN, not the company itself, and is not a recommendation to buy or sell. A blank cell is a day NSE itself published no figure for, never a zero.

Insider trading activity

20 disclosures shown

Disclosed Person Category Type Mode Quantity Value (₹) Resulting stake Source
08 Jun 2024 Emerging Market Investment DMCC Promoter Group Buy Market Purchase 2800000 2667740895 0.61% XBRL
05 Jun 2024 Emerging Market Investment DMCC Promoter Group Buy Market Purchase 1800000 2200073183 0.36% XBRL
05 Jun 2024 Emerging Market Investment DMCC Promoter Group Buy Market Purchase 2200000 2472939246 0.20% XBRL
25 Aug 2022 Gelt bery Trade and lnvestnent Limited Promoter Group Buy Market Purchase 100 356528 0.00% XBRL
08 Jul 2022 Adani Tradeline Private Limited Promoter Group Buy Others 99491719 0 8.92% XBRL
24 Sep 2021 Adani Tradeline LLP (earlier known as Parsa Kente Rail Infra LLP) Promoter Group Pledge Revoke Revokation of Pledge 200000 309500000 9.05% XBRL
22 Sep 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Revoke Revokation of Pledge 600000 985700000 56.48% XBRL
20 Sep 2021 Adani Tradeline LLP (earlier known as Parsa Kente Rail Infra LLP) Promoter Group Pledge Revoke Revokation of Pledge 9000000 16383200000 9.05% XBRL
20 Sep 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Revoke Revokation of Pledge 350000 637100000 56.48% XBRL
17 Sep 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Revoke Revokation of Pledge 50000 95800000 56.48% XBRL
15 Sep 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Pledge Creation 700000 1310000000 56.48% XBRL
13 Sep 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Revoke Revokation of Pledge 2300000 4155500000 56.48% XBRL
31 Aug 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Revoke Revokation of Pledge 50000 71700000 56.48% XBRL
18 Aug 2021 Anil Kumar Gupta Employees/Designated Employees Sell Market Sale 10000 9826000 0.00% XBRL
05 Aug 2021 Adani Tradeline LLP (earlier known as Parsa Kente Rail Infra LLP) Promoter Group Pledge Pledge Creation 405600 369700000 9.05% XBRL
30 Jul 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Pledge Creation 2400000 2257800000 56.48% XBRL
22 Jul 2021 Adani Tradeline LLP (earlier known as Parsa Kente Rail Infra LLP) Promoter Group Pledge Revoke Revokation of Pledge 900000 827700000 9.05% XBRL
22 Jul 2021 Adani Tradeline LLP (earlier known as Parsa Kente Rail Infra LLP) Promoter Group Pledge Pledge Creation 45500 41800000 9.05% XBRL
16 Jul 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Pledge Creation 2270000 2211300000 56.48% XBRL
08 Jul 2021 Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust) Promoter Group Pledge Pledge Creation 350000 328900000 56.48% XBRL
About these disclosures

SEBI PIT (Prohibition of Insider Trading) Regulation 7 disclosures — designated persons (promoters, directors, KMPs, and their immediate relatives) reporting their own dealing in the company's securities, as NSE publishes them. Distinct from the SAST (Regulation 29 substantial-acquisition) filings on the market-wide SAST activity page. Public record only — this is descriptive disclosure data, not a signal, and is not a recommendation to buy or sell.

Filings & evidence

Source documents

FY2025-26 · Annual filing

The raw filing line items behind the figures on this page, and NSE's own filing document where NSE publishes one.

Source document — income statement (FY2025-26, raw filing line items)
Line itemFiled value
ProfitOrLossAttributableToOwnersOfParent22825400000.0
PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital1201280000.0
Source document — balance sheet (FY2025-26, raw filing line items)
Line itemFiled value
CurrentAssets178257600000.0
CurrentLiabilities154462800000.0
EquityAttributableToOwnersOfParent254275400000.0
BorrowingsCurrent + BorrowingsNoncurrent488984500000.0
Research notes

My notes