Adani Energy Sol Q1 FY27 Results (NSE: ADANIENSOL)
Signal: Margin pressure
The read
Revenue surged 42% YoY to ₹9,711 Cr, EBITDA margin expanded ~400bps to 31%, and PAT doubled to ₹1,149 Cr, driven by strong transmission and distribution execution; EPS growth (39%) lagged PAT (124%) due to dilution/minority interest, and debt rose to ₹50,842 Cr.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹9,711.08 Cr | 42.4% | -64.8% |
| EBIT | ₹2,564.22 Cr | 24.7% | |
| Net profit | ₹1,149.06 Cr | 124.2% | |
| EPS | ₹9.57 | 39.1% | |
| EBIT margin | 26.4% |
P&L walk
Revenue grew 42.4% YoY to ₹9,711 Cr; EBITDA margin expanded ~400bps YoY to 32.4%, driven by operating leverage and lower input cost intensity; PAT attributable to owners jumped 124% to ₹1,149 Cr.
Key positives
- Consolidated revenue grew 42.4% YoY to ₹9,711 Cr, accelerating from 16.8% in Q4FY26.
- EBITDA margin expanded 400bps YoY to 32.4%, driven by operating leverage and lower cost of power purchased.
- PAT attributable to owners surged 124% YoY to ₹1,149 Cr, aided by strong operating performance and lower tax rate.
- US DOJ/SEC matter moving toward dismissal – director's charges being dropped, no impact on company.
Key concerns
- EPS growth of 39.1% lagged PAT growth of 124.2% significantly, indicating dilution or minority interest drag.
- Total borrowings increased to ₹50,842 Cr (from ₹40,762 Cr a year ago), debt-equity ratio ~2.0x.
- Standalone PAT fell 68.6% YoY to ₹49 Cr due to rising finance costs and other expenses.
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