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India-Based Adani Energy Solutions Reports 'Strong' Order Book, Growing Renewables Share

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India's largest power transmission and distribution company Adani Energy Solutions said its order book has grown to 599.36 billion rupees ($6.36 billion) with opportunities also growing in distribution and smart metering.

Adani Energy said it has consolidated its market position and expects strong performance ahead in all business segments as it announced record earnings for the year ended March 31 and a "strong" fiscal Q4.

It noted strong energy sales in Mumbai and Mundra and said it secured two transmission projects - Navinal (Mundra) Phase 1 Part B1 and Mahan Transmission. Contract wins totaled seven in 2025 with a total value of 43,990 crore rupees.

Transmission operating revenue during fiscal Q4 was 12.13 billion rupees, compared with 11.64 billion rupees a year ago. Distribution operating revenue was 28.75 billion rupees, compared with 23.96 billion rupees in fiscal Q4 2024.

Smart meter deployment reached 3.1 million rupees and the company's leverage is now 3.2 times its debt, aligned with guidance.

AESL now has a transmission market share of 28%, it said.

The company said project commissioning, meter installations and operational efficiencies in all business lines were its priorities for the coming year.

Transmission system availability was 99.7% across its portfolio, while in the Mumbai distribution business, consumed energy increased 6% over the year to 10,558 million units. It said distribution losses remained low at 4.77%.

Mundra energy consumption grew 44% to 948 million units, it said. Supply reliability was at 99.99%.

The company added 695 circuit kilometers of transmission lines over the full-year period between Mumbai and Mundra businesses, it said.

The company plans to install 6 to 7 million new meters in fiscal 2026, double or more the 31.3 lakh installations in fiscal 2025.

Renewables within power supplied to the Mumbai circle totaled 36% in fiscal 2025, while Adani is on track to reach 60% by fiscal 2027.

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