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Last Updated: April 2, 2026, 2:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 539254 | NSE: ADANIENSOL

Adani Energy Solutions Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,107.98Undervalued by 15.78%vs CMP ₹957.00

P/E (51.2) × ROE (13.6%) × BV (₹195.00) × DY (2.00%)

₹593.83Overvalued by 37.95%vs CMP ₹957.00
MoS: -61.2% (Negative)Confidence: 56/100 (Moderate)Models: 1 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,233.1630%Under (+28.9%)
Graham NumberEarnings₹286.4422%Over (-70.1%)
Net Asset ValueAssets₹194.5910%Over (-79.7%)
EV/EBITDAEnterprise₹517.0312%Over (-46%)
Earnings YieldEarnings₹187.0010%Over (-80.5%)
ROCE CapitalReturns₹412.5210%Over (-56.9%)
Revenue MultipleRevenue₹296.677%Over (-69%)
Consensus (7 models)₹593.83100%Overvalued
Key Drivers: Wide model spread (₹187–₹1,233) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.3%

*Investments are subject to market risks

Investment Snapshot

56
Adani Energy Solutions Ltd scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health47/100 · Moderate
ROCE 10.2% AverageROE 13.6% GoodD/E 4.23 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -4.11% (6mo) SellingDII holding up 3.81% MF buyingPromoter holding at 71.2% Stable
Earnings Quality40/100 · Moderate
OPM contracting (36% → 32%) Declining
Quarterly Momentum80/100 · Strong
Revenue (4Q): +20% YoY GrowingProfit (4Q): +305% YoY Strong
Industry Rank75/100 · Strong
P/E 51.2 vs industry 153.0 Cheaper than peersROCE 10.2% vs industry 11.7% Average3Y sales CAGR: 28% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:33 am

Market Cap 1,15,001 Cr.
Current Price 957
Intrinsic Value₹593.83
High / Low 1,068/745
Stock P/E51.2
Book Value 195
Dividend Yield0.00 %
ROCE10.2 %
ROE13.6 %
Face Value 10.0
PEG Ratio4.53

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Adani Energy Solutions Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Adani Energy Solutions Ltd 1,15,001 Cr. 957 1,068/74551.2 1950.00 %10.2 %13.6 % 10.0
Amara Raja Energy & Mobility Ltd 13,066 Cr. 714 1,096/67017.3 4251.47 %16.8 %12.3 % 1.00
D B Realty Ltd 4,966 Cr. 91.6 219/83.090.8 74.70.00 %1.38 %2.54 % 10.0
Subros Ltd 4,451 Cr. 682 1,214/51826.5 1780.38 %20.0 %14.5 % 2.00
VRL Logistics Ltd 4,128 Cr. 236 325/22617.3 62.63.18 %15.7 %17.4 % 10.0
Industry Average7,439.67 Cr186.66153.03219.100.31%11.73%22.92%9.00

All Competitor Stocks of Adani Energy Solutions Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3,5523,3583,6643,6744,5634,7075,3796,1845,8306,3756,8196,5966,730
Expenses 2,0742,1542,3952,3243,0923,1413,7284,4694,1704,3355,0094,6404,734
Operating Profit 1,4781,2031,2691,3501,4711,5661,6511,7151,6612,0401,8111,9551,995
OPM % 42%36%35%37%32%33%31%28%28%32%27%30%30%
Other Income 23050210893262204-1,395176170222206171215
Interest 697630616641760750811813809826894872913
Depreciation 410416419432458468498484462462465509496
Profit before tax 600660343370515552-1,053594559974658746801
Tax % 20%33%47%23%32%31%13%-30%-12%27%18%25%28%
Net Profit 478440182284348381-1,191773625714539557574
EPS in Rs 4.263.491.572.472.913.24-7.395.624.685.394.274.444.60

Last Updated: February 6, 2026, 9:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 2:08 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 01312,1942,8763,9447,30511,4169,92611,25813,29316,60723,76726,519
Expenses 0292678931,1184,5287,1585,9767,0518,77510,89616,70118,718
Operating Profit 01011,9271,9832,8262,7784,2583,9504,2064,5185,7117,0677,801
OPM % 78%88%69%72%38%37%40%37%34%34%30%29%
Other Income 0370221113362611,1151,2861,583611-827814
Interest 0739579048861,3912,2382,1172,3652,7812,7673,2593,505
Depreciation 0375605695798821,1741,3291,4271,6081,7761,9061,932
Profit before tax 0-54805321,4728401,1071,6201,7001,7121,7801,0753,179
Tax % 34%23%22%22%33%36%20%27%25%33%14%
Net Profit 0-73684161,1435597061,2901,2361,2811,1969222,384
EPS in Rs 0.00-0.063.353.7910.395.086.7411.1310.9511.2610.208.8218.70
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)5357.14%13.04%174.76%-51.09%26.30%82.72%-4.19%3.64%-6.64%-22.91%
Change in YoY Net Profit Growth (%)0.00%-5344.10%161.72%-225.85%77.39%56.42%-86.91%7.83%-10.28%-16.27%

Adani Energy Solutions Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:68%
5 Years:16%
3 Years:28%
TTM:38%
Compounded Profit Growth
10 Years:80%
5 Years:26%
3 Years:25%
TTM:121%
Stock Price CAGR
10 Years:40%
5 Years:23%
3 Years:-42%
1 Year:-26%
Return on Equity
10 Years:12%
5 Years:12%
3 Years:12%
Last Year:14%

Last Updated: September 4, 2025, 10:10 pm

Balance Sheet

Last Updated: December 4, 2025, 12:54 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.051,0901,1001,1001,1001,1001,1001,1001,1001,1151,1151,2011,201
Reserves 0-71,5721,8474,9576,9437,3997,8198,81310,63411,52620,86722,183
Borrowings 09,7018,5858,97510,42820,13724,24627,09529,90234,27037,07040,27545,545
Other Liabilities 07084898907814,3796,9667,2197,6507,9138,82711,55913,744
Total Liabilities 011,49211,74612,81117,26532,55839,71143,23447,46453,93258,53873,90282,673
Fixed Assets 010,57310,0609,8539,29124,41224,92426,98730,27232,64538,92039,55539,438
CWIP 0102581,3432,3536942,2125,2555,0606,2003,0035,7026,991
Investments 002010503363134425611,3707662,6381,832
Other Assets 09091,4071,5105,6217,11712,26210,55011,57213,71615,84926,00734,412
Total Assets 011,49211,74612,81117,26532,55839,71143,23447,46453,93258,53873,90282,673

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 0-351,5442,1892,1982,5915,4373,7844,0973,7776,0388,695
Cash from Investing Activity + 0-1,864-816-1,730-3,192-3,050-5,643-4,009-3,936-4,699-4,943-15,222
Cash from Financing Activity + 01,902-722-4551,589381,250-745-235923-5437,975
Net Cash Flow 0364596-4211,045-969-7525511,448
Free Cash Flow 0-2288108291,2371,3932,675-168-94-925608-683
CFO/OP -20%84%119%89%100%132%102%104%89%111%126%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.0092.00-7.00-7.00-8.00-18.00-20.00-24.00-25.00-30.00-32.00-33.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1,25530242436323735398265
Inventory Days
Days Payable
Cash Conversion Cycle 1,25530242436323735398265
Working Capital Days -11,796-473-128-115-17514-122-97-78-57-34
ROCE %1%13%12%17%10%11%11%10%10%9%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 71.64%68.27%73.22%73.22%73.22%74.95%69.94%69.94%69.94%71.19%71.19%71.19%
FIIs 21.04%19.65%17.74%17.49%17.49%15.53%18.66%17.34%17.58%15.85%13.06%13.47%
DIIs 3.80%3.82%3.87%3.82%3.80%3.97%5.38%5.85%6.33%6.89%9.97%10.14%
Public 3.51%8.26%5.17%5.46%5.49%5.54%6.03%6.87%6.16%6.08%5.79%5.20%
No. of Shareholders 3,22,8514,26,1354,21,0574,76,6264,78,1254,93,6214,50,2835,49,5205,27,1375,00,9264,89,2484,37,571

Shareholding Pattern Chart

No. of Shareholders

Adani Energy Solutions Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Equity Hybrid Fund 20,174,466 2.22 1805.21N/AN/AN/A
SBI Focused Fund 15,171,443 3.16 1357.54N/AN/AN/A
HDFC Balanced Advantage Fund 3,488,831 0.29 312.18N/AN/AN/A
SBI Midcap Fund 3,000,000 1.2 268.44N/AN/AN/A
SBI Infrastructure Fund 2,100,000 4.13 187.91N/AN/AN/A
HDFC Large and Mid Cap Fund 1,938,307 0.61 173.44N/AN/AN/A
Tata Large & Mid Cap Fund 1,700,000 1.87 152.12N/AN/AN/A
Tata Arbitrage Fund 1,323,000 0.58 118.381,232,5502026-02-23 08:27:117.34%
SBI Energy Opportunities Fund 1,250,000 1.3 111.85N/AN/AN/A
Quant Flexi Cap Fund 699,000 1.01 62.55N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 9.0510.2011.108.909.02
Diluted EPS (Rs.) 9.0510.2011.105.069.02
Cash EPS (Rs.) 23.5426.6425.8924.2123.81
Book Value[Excl.RevalReserv]/Share (Rs.) 183.71122.84114.3972.2965.40
Book Value[Incl.RevalReserv]/Share (Rs.) 183.71122.84114.3972.2965.40
Revenue From Operations / Share (Rs.) 197.85148.88119.16102.3690.25
PBDIT / Share (Rs.) 75.6460.8045.4143.7340.76
PBIT / Share (Rs.) 59.7844.8831.0030.7628.68
PBT / Share (Rs.) 8.9515.9515.3515.4614.73
Net Profit / Share (Rs.) 7.6710.7211.4811.2411.73
NP After MI And SOA / Share (Rs.) 8.8210.2011.2610.9511.13
PBDIT Margin (%) 38.2340.8338.1042.7245.16
PBIT Margin (%) 30.2130.1426.0130.0531.77
PBT Margin (%) 4.5210.7112.8715.1016.31
Net Profit Margin (%) 3.877.199.6310.9712.99
NP After MI And SOA Margin (%) 4.456.849.4510.7012.33
Return on Networth / Equity (%) 4.808.9910.7717.5620.10
Return on Capital Employeed (%) 11.229.907.378.148.63
Return On Assets (%) 1.431.942.322.532.83
Long Term Debt / Equity (X) 1.682.652.694.053.91
Total Debt / Equity (X) 1.822.932.934.354.23
Asset Turnover Ratio (%) 0.350.290.260.020.02
Current Ratio (X) 1.661.201.270.950.74
Quick Ratio (X) 1.601.171.250.900.71
Inventory Turnover Ratio (X) 53.980.000.000.000.00
Interest Coverage Ratio (X) 2.792.451.822.032.12
Interest Coverage Ratio (Post Tax) (X) 2.151.601.091.251.33
Enterprise Value (Cr.) 142222.01150269.27144907.00290323.62125490.19
EV / Net Operating Revenue (X) 5.989.0510.9025.7912.64
EV / EBITDA (X) 15.6522.1628.6160.3627.99
MarketCap / Net Operating Revenue (X) 4.406.898.3723.1810.06
Price / BV (X) 4.749.059.5438.0516.41
Price / Net Operating Revenue (X) 4.406.898.3723.1810.06
EarningsYield 0.010.010.010.000.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Adani Energy Solutions Ltd. is a Public Limited Listed company incorporated on 09/12/2013 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L40300GJ2013PLC077803 and registration number is 077803. Currently Company is involved in the business activities of Electric power generation by coal based thermal power plants. Company's Total Operating Revenue is Rs. 1937.75 Cr. and Equity Capital is Rs. 1201.28 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Power - Transmission/EquipmentAdani Corporate House, Shantigram, Ahmedabad Gujarat 382421Contact not found
Management
NamePosition Held
Mr. Gautam S AdaniChairman
Mr. Anil SardanaManaging Director
Mr. Rajesh S AdaniDirector
Mr. K JairajIndependent Director
Mrs. Meera ShankarIndependent Director
Mrs. Lisa Caroline MacCallumIndependent Director

FAQ

What is the intrinsic value of Adani Energy Solutions Ltd and is it undervalued?

As of 10 April 2026, Adani Energy Solutions Ltd's intrinsic value is ₹593.83, which is 37.95% lower than the current market price of ₹957.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.6 %), book value (₹195), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Adani Energy Solutions Ltd?

Adani Energy Solutions Ltd is trading at ₹957.00 as of 10 April 2026, with a FY2026-2027 high of ₹1,068 and low of ₹745. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,15,001 Cr..

How does Adani Energy Solutions Ltd's P/E ratio compare to its industry?

Adani Energy Solutions Ltd has a P/E ratio of 51.2, which is below the industry average of 153.03. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Adani Energy Solutions Ltd financially healthy?

Key indicators for Adani Energy Solutions Ltd: ROCE of 10.2 % is moderate. Dividend yield is 0.00 %.

Is Adani Energy Solutions Ltd profitable and how is the profit trend?

Adani Energy Solutions Ltd reported a net profit of ₹922 Cr in Mar 2025 on revenue of ₹23,767 Cr. Compared to ₹1,236 Cr in Mar 2022, the net profit shows a declining trend.

Does Adani Energy Solutions Ltd pay dividends?

Adani Energy Solutions Ltd has a dividend yield of 0.00 % at the current price of ₹957.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Adani Energy Solutions Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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