Synopsis:
Adani group inventory is in focus in the present day after the announcement of its Q2 outcomes with internet revenue decline by 12 %.
A Massive-cap firm that’s the largest non-public thermal energy producer in India, is within the highlight in the present day after posting Q2FY26 outcomes. Learn the article under for detailed insights into its efficiency.
With a market capitalization of Rs. 3,12,836.32 crore, the shares of Adani Energy Restricted closed at Rs. 162.22, nearly flat to its earlier closing worth of Rs. 162.10. The inventory has touched an intraday excessive of Rs. 164.70 in in the present day’s buying and selling session, implying an upside of 1.6 % from its earlier day’s shut worth.
Q2FY26 Outcomes
Adani Energy Restricted reported Rs. 13,456.84 crore in income for the second quarter of FY26, a 0.88 % improve over the Rs. 13,338.88 crore for a similar interval in FY25. It decreased by 4.62 % as in comparison with Rs. 14,109.15 crore in Q1 FY26.
The corporate’s EBITDA for Q2 FY26 stood at Rs. 5,150 crore, down by 9.41 % from Rs. 5,685 crore in Q1 FY26, and inclined by 2.39 % from Rs. 5,276 crore in Q2 FY25.
The consolidated internet revenue for the second quarter of FY26 was Rs. 2,906 crore, which was 12.07 % decrease than the Rs. 3,305 crore reported within the earlier quarter and decreased by 11.89 % from Rs. 3,298 crore in Q2 FY25. Revenue decline was additionally mirrored in earnings per share (EPS), which decreased to roughly Rs. 1.53 in Q2 FY26 from Rs. 1.76 in Q1 FY26 and Rs. 1.73 in Q2 FY25.
Operational Highlights
In the course of the quarter, APL achieved a 7.4 % year-on-year progress in consolidated energy gross sales at 23.7 billion models (BU) versus 22 BU in Q2 FY25, regardless of a slowdown in total nationwide vitality demand attributable to extended monsoons. The corporate’s working capability elevated to 18,150 MW from 17,550 MW final 12 months following the acquisition of the 600 MW Vidarbha Industries Energy Ltd. Plant Load Issue (PLF) stood at 62.8 % in comparison with 66.9 % a 12 months in the past. Service provider and short-term gross sales quantity rose 12.9 % YoY to five.7 BU.
Energy Market Circumstances
The early and prolonged monsoon interval affected energy demand throughout India, with vitality demand rising solely 3.2 % YoY to 449.2 BU in Q2 FY26. Tariffs within the service provider market remained subdued as a consequence of these weather-related disruptions and a excessive base impact from final 12 months’s warmth wave–pushed demand.
Enterprise Updates
In Q2 FY26, APL secured a number of long-term energy buy agreements (PPAs), together with 2,400 MW from Bihar, 1,600 MW from Madhya Pradesh, and 570 MW from Karnataka DISCOMs. Moreover, its subsidiary Vidarbha Industries Energy Ltd. signed a 500 MW medium-term PPA with Maharashtra DISCOM efficient November 2025.
Monetary Place
APL maintained a powerful stability sheet with whole debt at Rs. 47,254 crore as of September 30, 2025, in comparison with Rs. 38,335 crore in March 2025, reflecting bridge financing for capex and dealing capital wants. The corporate absolutely redeemed Rs. 478 crore of Unsecured Perpetual Securities in the course of the quarter, with none excellent by September-end.
Administration View
In accordance with CEO S. B. Khyalia, Adani Energy has delivered strong monetary efficiency this quarter regardless of weather-driven demand fluctuations, reflecting robust operational effectivity. He highlighted the addition of 4.5 GW of recent PPAs underneath the SHAKTI scheme and reaffirmed the corporate’s purpose to increase capability to 42 GW by FY32, supported by robust profitability, liquidity, and speedy progress on its 23.7 GW enlargement plan.
In regards to the firm
Adani Energy, India’s largest non-public thermal energy producer and a part of the Adani portfolio, has an put in capability of 18,110 MW throughout twelve crops in eight states, plus a 40 MW photo voltaic unit in Gujarat. Backed by knowledgeable groups, it leverages expertise and innovation to drive reasonably priced, dependable energy and nationwide vitality progress.
A return on fairness (ROE) of about 26.1 %, a return on capital employed (ROCE) of about 22.5 % and debt to fairness ratio of 0.70 show the corporate’s monetary place. In the mean time, the corporate’s P/E ratio is 25.3x increased as in comparison with its trade P/E 24.6x.
Written By Akshay Sanghavi
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