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Gautam Adani – Chairman, Adani Group
Message from the Chairman

Accelerating Infrastructure,
Leveraging Intelligence

While others debated, your Group built, advancing its journey as the world's most integrated infrastructure platform – across energy, transport, logistics, utilities and industrial manufacturing.

GAUTAM ADANI

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Rajesh S Adani – Managing Director, Adani Group
Managing Director’s Perspective

Accelerating Intelligence Across the Energy Ecosystem

Integration of intelligence is shaping how we plan, execute and manage assets over time. Tools such as LiDAR and satellite-based route optimisation are improving speed and accuracy in project development, while data-led forecasting is bringing greater discipline to cost management and decision-making.

ANIL SARDANA

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Adani Portfolio Of Companies

Driven by Synergies, Significance and Sustainability

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01 — 08
Adani Enterprises Limited
Adani Enterprises Limited Adani Ports & SEZ Adani Energy Solutions Adani Green Energy Adani Total Gas Ambuja Cements Adani Power NDTV
INDIA'S LARGEST Business Incubator
FY 2025-26
Revenue
Adjusted EBITDA
PAT
(₹ in crore)

Stable, Predictable
Infrastructure-led Growth

Delivering Best-in-Class Performance, Consistently

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Growth with Prudence and Responsibility

Free Cash Flow Powered by the Core Infra Platform

Infrastructure platform contribution in FY 2025-26

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Solid Fundamentals

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Of the run rate EBITDA of ₹1,08,300 crore rated above 'A-'
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Return on Assets

Industry-Leading
by Design

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Key Performance

Indicators

Adani Energy Solutions Limited

Key Performance Indicators

Performance Highlights
Adani Energy Solutions Limited

Key Performance Indicators

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Adani Energy Solutions - At a Glance

Accelerating India's Energy Evolution

Adani Energy Solutions Limited stands at the forefront of India’s energy transition as India’s largest private integrated energy solutions provider.

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Adani Energy Solutions - At a Glance

Business Segment Review

Transmission Vertical
Transmission Vertical
Cooling Solutions Vertical
Cooling Solutions Vertical
Smart Metering Vertical
Smart Metering Vertical
Distribution Vertical
Distribution Vertical
Energy Solutions Platform Vertical
Energy Solutions Platform Vertical
Business Model

Accelerating Energy Intelligence

Financial Capital

SDG goals
Inputs
  • ₹ 26,526 crore net worth
  • ₹ 75,401 crore asset base
  • ₹ 8,208 crore in cash and cash equivalents
Outcomes
  • 13 transmission projects with capex of ₹ 71,779 crore & 10 Smart metering projects with total contract value of ₹ 29,519 crore
  • ₹ 18,296 crore operating revenue
  • ₹ 8,726 crore EBITDA
  • ₹ 2,393 crore Adjusted PAT
  • 4.5 x Net Debt to EBITDA ratio
  • ₹ 136 crore incentive earned in transmission

Manufactured Capital

SDG goals
Inputs
  • 27,949 ckm of Transmission Lines
  • 82 Substations
  • 1,23,175 MVA power Transformation capacity
  • 12,075 kms of OPGW fiber network
  • 11.4 million smart meters installed
Outcomes
  • 5% y-o-y increase in transmission network in ckm & 37%* y-o-y increase in transformation capacity MVA
  • 29% Market share in TBCB bids
  • 19% Market share in Smart meter bids
  • 99.7% transmission system availability
  • 99.99% / 99.97% supply reliability (ASAI) in distribution in AEML / MUL
  • Improvement in distribution losses to 4.21% vs 4.77% in FY 2024-25 in AEML & to 1.90% vs 2.32% in FY 2023-24 in MUL

*The MVA number has been revised to include DC transformation capacity of three HVDC lines – Adani Electricity Mumbai Infra Limited (AEMIL – HVDC), Bhadla-Fatehpur HVDC Project (HVDC Rajasthan Phase-II) and KPS III HVDC Transmission Limited

Human Capital

SDG goals
Inputs
  • 3,635 permanent employees
  • 18 contractual workforce
  • 8.1 % female representation
  • 76.8% workforce consists of engineers and professionals
  • 7,85,964 hours of learning and development
Outcomes
  • Employee productivity at ₹ 3.46 crore EBITDA/employee
  • Employee turnover rate at 15.2%* (Industry average at 11.1%*)
  • 2 fatality (Contractor worker)
  • Great place to work certified

*Source: CARE

Intellectual Capital

Inputs
  • ~₹ 3 crore in Grid, ~₹ 17 crore Retail electricity
  • Approx 36% towards Transmission projects under Khavda RE
  • ₹ 1.31 crore investments in capacity building for corporate learning
Outcomes
  • 85.50% of total collection through digital payments in AEML
  • 30,586 Hours of Training to employees related to new Technologies

Social & Relationship Capital

SDG goals
Inputs
  • 926 suppliers
  • 99 % of local sourcing
  • ₹ 50.20 crore spent on CSR
  • 13 million electricity consumers
Outcomes
  • 99% raw material / service procured from local vendors
  • 100% New suppliers screened with ESG criteria
  • 100% of consumer complaints resolved in AEML & MUL

Natural Capital

SDG goals
Inputs
  • 1,60,000 trees planted
  • 3.3 MW of captive solar capacity
  • ₹ 0.43 crore invested in eco-friendly technologies
  • 67,731 KL fresh water withdrawal
  • 700 MW wind solar hybrid power purchased
Outcomes
  • 65.92%* of clean energy mix achieved
  • Zero waste to landfill across all operational sites
  • 93.5% reduction (w.r.t. FY 2019-20) in GHG emission Intensity (tCO2e/million ₹ Revenue)
  • 51% y-o-y Increase in Non-Hazardous waste generation
  • 10.5% YoY Reduction in Hazardous waste generation
  • 112 Ha of forest area avoided with route diversion & optimisation
  • Compensatory afforestation over 690 hectare

*This includes 3,224.23 MUs procured (equivalent to 28.38%) for past period RPO compliance as per MERC.

Key Strategic Priorities
  1. 1Safety Culture
  2. 2ESG Integration
  3. 3Efficient Capital Allocation and Execution Strategy
  4. 4Portfolio of Efficient Operating Assets
  5. 5Robust Financial Profile
  6. 6Business Excellence
  7. 7Digitalisation and Innovation
  8. 8Capacity and Capability Building
Enablers
Development and construction expertise
Operational and execution excellence
Cutting-edge technologies
Skilled workforce
Collaborative partnerships
Innovation
Capital management and allocation
Sustainable practices
Strategic Review

01 / 04

Environment, Social
and Governance

Our Approach to ESG

Our Approach to ESG

At Adani Energy Solutions, our vision is to lead India’s responsible energy transition and accelerate the decarbonisation of society by delivering affordable, reliable, and clean energy.
Environment

Environment

At Adani Energy Solutions, environmental responsibility is integrated into our daily operations and guides how we plan, operate and grow.
Social: Employees

Social: Employees

At the Adani Group, as we fuel our ambitious expansion plans, we are shifting from conventional HR management processes to a data-driven, execution-led growth model.
Social: Occupational Health and Safety

Social: Occupational Health and Safety

At Adani Energy Solutions, safeguarding our workforce stands as a foundational pillar of our organisational values and operational ethos.
Social: Corporate Social Responsibility

Social: Corporate Social Responsibility

Adani Energy Solutions, in partnership with the Adani Foundation, collaborates with communities to drive inclusive development through innovative programmes.
Social: Customers

Circular Social: Customers

Adani Energy Solutions places customers at the centre of its growth journey, building lasting relationships founded on trust, transparency and responsiveness.
Nature and Biodiversity Stewardship

Social: Responsible Sourcing

At Adani Energy Solutions, we are committed to building a sustainable, transparent and ethically governed supply chain.
Governance

Governance

Adani Energy Solutions is committed to upholding the highest standards of corporate governance, reflecting fairness and ethical business conduct.
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