ADANIENSOL IN EQUITY

Adani Energy Solutions Ltd. · Utilities · PowerDELAYEDNSE · INRINE931S01010

1,438.5+4.4+0.31%

Day range1,418 — 1,455.9

52-week range1,200 — 1,4802.8% below high

Market cap₹1.75L CrUtilities

P/E · TTM44.9×Screener fundamentals

As of13-NOV-26Yahoo quote

ADANIENSOL IN EQUITY

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Day range—

52-week range—

Market cap—

P/E · TTM—

As of—

INTELLIGENCE BRIEF

2026-11-14 · stale

constructiveQuarterly revenue grew 52.8% YoY in the latest quarter.confidence 50% · 42 sources

What changed since last brief

Score 65 → 65Added intent to acquire Intellismart Infrastructure Pvt Ltd. · New ESG rating disclosed.

Investment thesis

01Quarterly revenue grew 52.8% YoY in the latest quarter. [fin]
02Operating margin expanded to 30.8% in the latest quarter. [fin]
03EBITDA grew ~68% YoY and profit rose ~2.5x to INR 13.6bn in Q2FY27. [brk:13108]
04Transmission order book increased to INR 872bn, providing long‑term visibility. [brk:13108]
05Announced intent to acquire 100% of Intellismart Infrastructure Pvt Ltd. [ann:88486676]

Key risks

−Debt/equity ratio of 1.65 indicates elevated leverage. high [fin]
−Supply‑chain distress score of 0.65 suggests potential supplier pressure. medium [sig:supply_chain]

Catalysts

→Q4 FY27 · Letter of Award to supply 2,500 MW of round‑the‑clock power could boost revenue. [ann:85069]
→Q1 FY27 · Execution of share purchase of Satara Power Transmission Limited expands transmission footprint. [ann:85061]

Valuation read

Mean target ₹1,661 implies 15.5% upside from last price.

Supply chain

Distress score 0.65 indicates elevated risk.

Management travel

Travel signals show aircraft co‑location with GMR and visits near disclosed customer HDFC Bank, but purpose unverified.

Uncertainty

?Annual revenue figures for FY27 are missing.
?Cash flow and current asset/liability details are not available.
?Peer valuation multiples are not provided.
?3 statements removed because they could not be traced to cited inputs.

INTELLIGENCE BRIEF

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WHAT CHANGED

score 65 → 65

Since last brief

Added intent to acquire Intellismart Infrastructure Pvt Ltd.
New ESG rating disclosed.

13-NOV-26
ANN Adani Energy Solutions announced intent to acquire 100% of Intellismart Infrastructure Pvt Ltd.
25-OCT-26
BROKER ICICI Securities raise target · Buy · TGT 1,600
23-OCT-26
ANN Adani Energy Solutions shared an investors presentation on unaudited Q3 and half‑year results.
22-OCT-26
ANN Adani Energy Solutions announced changes in its senior management personnel.
22-OCT-26
ANN Adani Energy Solutions reported record Q2 performance, highlighting strong growth momentum.
22-OCT-26
ANN Adani Energy Solutions adopted unaudited financial results for the period ended 30 Sept 2026.
07-OCT-26
ANN Executed share purchase to acquire 100% of Satara Power Transmission Limited.
08-SEP-26
ANN Adani Energy Solutions secured a Letter of Award to supply 2,500 MW of round‑the‑clock power.
03-SEP-26
ANN GQG Partners filed a SEBI takeover disclosure, indicating a potential change in shareholding.
26-AUG-26
ANN Adani Energy Solutions won a Rs 4,700 cr transmission project for 4,500 MW renewable power, a significant order.
19-AUG-26
ANN Adani Energy Solutions announced a new credit rating.
14-AUG-26
ANN Adani Energy Solutions signed a Share Purchase Agreement to acquire 100% of Vizag Power Transmission Ltd.
01-AUG-26
ANN Adani Energy Solutions disclosed a new ESG credit rating, indicating its sustainability standing to investors.
30-JUL-26
ANN Adani Energy Solutions allotted equity shares to qualified institutional investors.
30-JUL-26
ANN Adani Energy Solutions reported approval of closure of its QIP and placement documents.
28-JUL-26
ANN Adani Energy Solutions disclosed EGM voting results.
27-JUL-26
ANN Adani Energy Solutions announced a qualified institutional placement of equity shares.
24-JUL-26
ANN Adani Energy Solutions won an Rs 8,500 cr transmission project in Andhra Pradesh.
22-JUL-26
BROKER Prabhudas Lilladher upgrade · Buy · TGT 1,752
21-JUL-26
ANN Unaudited Q2 2026 results released; could impact share price based on performance.
21-JUL-26
ANN Unaudited financial results for Q2 2026 submitted to the exchange.
14-JUL-26
ANN Adani Energy Solutions reported a credit rating update.
09-JUL-26
ANN Adani Energy Solutions disclosed its credit rating.
27-APR-26
BROKER Prabhudas Lilladher downgrade · Hold · TGT 1,452
05-MAR-26
BROKER Prabhudas Lilladher initiate · Accumulate · TGT 1,090

WHAT CHANGED

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EVIDENCE

42 sources

ID	KIND	SOURCE
px	SOURCE	Daily prices to 2026-11-13
fin	FILING	Reported financials (annual and quarterly)
shp	SOURCE	Shareholding pattern 2026-09-30
cns	SOURCE	Analyst consensus and estimates
brk:13108	BROKER	ICICI Securities Buy TP 1600 (2026-10-25)
brk:584	BROKER	Prabhudas Lilladher Buy TP 1752 (2026-07-22)
brk:583	BROKER	Prabhudas Lilladher Hold TP 1452 (2026-04-27)
brk:582	BROKER	Prabhudas Lilladher Accumulate TP 1090 (2026-03-05)
brk:581	BROKER	ICICI Securities Buy TP 1127 (2025-07-27)
rel:1004	FILING	Adani Energy Solutions Ltd. supplies MSEDCL (contract)
rel:1003	FILING	Adani Energy Solutions Ltd. supplies Maharashtra State Electricity Distribution Co. Limited (contract)
rel:983	FILING	Adani Energy Solutions Ltd. supplies HDFC Bank Ltd. (segment)
rel:980	FILING	Adani Energy Solutions Ltd. supplies Maharashtra (contract)
rel:981	FILING	Adani Energy Solutions Ltd. supplies Bharat Heavy Electricals Ltd. (segment)
rel:17925	FILING	Transformers And Rectifiers (India) Ltd. supplies Adani Energy Solutions Ltd. (contract)
rel:978	FILING	Uttar Pradesh supplies Adani Energy Solutions Ltd. (segment)
rel:979	FILING	Office supplies Adani Energy Solutions Ltd. (segment)
rel:15283	FILING	Reliance Industries Ltd. supplies Adani Energy Solutions Ltd. (contract)
rel:2289	FILING	GE Vernova T&D India Ltd. supplies Adani Energy Solutions Ltd. (contract)
sig:supply_chain	SOURCE	Supply-chain and distress signals (our models)
ann:88486676	ANN	2026-11-13 General Updates
ann:72382086	ANN	2026-11-06 Monitoring Agency Report
ann:58222165	ANN	2026-10-22 General Updates
ann:57511613	ANN	2026-10-22 Change in Management
ann:56808721	ANN	2026-10-22 Press Release
ann:56808722	ANN	2026-10-22 Outcome of Board Meeting
ann:85061	ANN	2026-10-07 General Updates
ann:85067	ANN	2026-09-18 General Updates
ann:85069	ANN	2026-09-08 General Updates
ann:85070	ANN	2026-09-03 Disclosure under SEBI Takeover Regulations
leg:1695	ALT	VT-AGL VOMM→VABB
leg:3263	ALT	VT-AGP VOHY→VOHS
leg:3279	ALT	VT-AGP ?→VOHS
leg:1034	ALT	VT-AGP VOBG→VOHY
leg:1701	ALT	VT-AGP VOHY→VOMM
leg:1702	ALT	VT-AGP VOMM→VOHY
leg:2242	ALT	VT-AGL ?→?
leg:2265	ALT	VT-AGL ?→LIRA
leg:3228	ALT	VT-AGL ?→LSGG
leg:3250	ALT	VT-AGL LSGG→LIRA
facts	SOURCE	Moneycontrol stock score and SWOT
prev	SOURCE	Previous brief (2026-10-27T00:12:50.436Z)

EVIDENCE

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KIND

SOURCE

Daily prices to 2026-11-13

fin

FILING

Reported financials (annual and quarterly)

shp

SOURCE

Shareholding pattern 2026-09-30

cns

SOURCE

Analyst consensus and estimates

brk:13108

BROKER

ICICI Securities Buy TP 1600 (2026-10-25)

brk:584

BROKER

Prabhudas Lilladher Buy TP 1752 (2026-07-22)

brk:583

BROKER

Prabhudas Lilladher Hold TP 1452 (2026-04-27)

brk:582

BROKER

Prabhudas Lilladher Accumulate TP 1090 (2026-03-05)

brk:581

BROKER

ICICI Securities Buy TP 1127 (2025-07-27)

rel:1004

FILING

Adani Energy Solutions Ltd. supplies MSEDCL (contract)

rel:1003

FILING

Adani Energy Solutions Ltd. supplies Maharashtra State Electricity Distribution Co. Limited (contract)

rel:983

FILING

Adani Energy Solutions Ltd. supplies HDFC Bank Ltd. (segment)

rel:980

FILING

Adani Energy Solutions Ltd. supplies Maharashtra (contract)

rel:981

FILING

Adani Energy Solutions Ltd. supplies Bharat Heavy Electricals Ltd. (segment)

rel:17925

FILING

Transformers And Rectifiers (India) Ltd. supplies Adani Energy Solutions Ltd. (contract)

rel:978

FILING

Uttar Pradesh supplies Adani Energy Solutions Ltd. (segment)

rel:979

FILING

Office supplies Adani Energy Solutions Ltd. (segment)

rel:15283

FILING

Reliance Industries Ltd. supplies Adani Energy Solutions Ltd. (contract)

rel:2289

FILING

GE Vernova T&D India Ltd. supplies Adani Energy Solutions Ltd. (contract)

sig:supply_chain

SOURCE

Supply-chain and distress signals (our models)

ann:88486676

ANN

2026-11-13 General Updates

ann:72382086

ANN

2026-11-06 Monitoring Agency Report

ann:58222165

ANN

2026-10-22 General Updates

ann:57511613

ANN

2026-10-22 Change in Management

ann:56808721

ANN

2026-10-22 Press Release

ann:56808722

ANN

2026-10-22 Outcome of Board Meeting

ann:85061

ANN

2026-10-07 General Updates

ann:85067

ANN

2026-09-18 General Updates

ann:85069

ANN

2026-09-08 General Updates

ann:85070

ANN

2026-09-03 Disclosure under SEBI Takeover Regulations

leg:1695

ALT

VT-AGL VOMM→VABB

leg:3263

ALT

VT-AGP VOHY→VOHS

leg:3279

ALT

VT-AGP ?→VOHS

leg:1034

ALT

VT-AGP VOBG→VOHY

leg:1701

ALT

VT-AGP VOHY→VOMM

leg:1702

ALT

VT-AGP VOMM→VOHY

leg:2242

ALT

VT-AGL ?→?

leg:2265

ALT

VT-AGL ?→LIRA

leg:3228

ALT

VT-AGL ?→LSGG

leg:3250

ALT

VT-AGL LSGG→LIRA

facts

SOURCE

Moneycontrol stock score and SWOT

SOURCE

Previous brief (2026-10-27T00:12:50.436Z)

ADANIENSOL IN EQUITY

ADANIENSOL IN EQUITY

INTELLIGENCE BRIEF

What changed since last brief

Investment thesis

Key risks

Catalysts

Valuation read

Supply chain

Management travel

Uncertainty

INTELLIGENCE BRIEF

WHAT CHANGED

Since last brief

WHAT CHANGED

EVIDENCE

EVIDENCE

KEYS

Command

Panes

Rows

Views

Display

Functions

INTELLIGENCE BRIEF

What changed since last brief

Investment thesis

Key risks

Catalysts

Valuation read

Supply chain

Management travel

Uncertainty

EVIDENCE

WHAT CHANGED

Since last brief

ADANIENSOL IN EQUITY