NSE/ADANIENSOL

ADANIENSOLAdani Energy Solutions Ltd

Power · NSE

₹1,259.8+3.04%

52-wk low52-WEEK RANGE52-wk high

₹755.95+66.7% from low ·0.0% from high₹1,259.8

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

ADANIENSOL+53.99% · 1Y

Range high ₹1,348Range low ₹588Latest ₹1,259.8Powered by TradingView · live NSE data

PowerUtilities - Independent Power ProducersAdani GroupLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite50/100

Performance

High

Amongst the strong performers in the market.

· 52w return +34.4% — strong momentum
· Trades 34.8% above 200-DMA — uptrend intact

Valuation

High

Looks expensive vs the sector.

· P/E 67.5 — 87% above sector median 36.0
· P/B 6.48 above sector median

Growth

Medium

Steady but not standout growth.

· Revenue YoY +15.4%
· Profit YoY -5.2% — earnings slipping

Profitability

Medium

Average profitability vs peers.

· ROE 9.6% — weak returns on equity
· Net margin 4.5% — thin margins

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(55/100)

Durability

53/100

Mixed quality signals; requires deeper due diligence.

Show 4 drivers

Piotroski F-score7/9 (78pt)
Altman Z" score1.49 (48pt)
Debt/Equity1.87 (28pt)
ROE9.6% (38pt)

Valuation

25/100

Richly valued on most axes; limited margin of safety.

Show 3 drivers

P/E vs sector (67.5 / 36.0)187% (23pt)
P/B6.48 (21pt)
EV/EBITDA20.7 (39pt)

Momentum

A+

88/100

Strong, confirmed momentum across price + technicals.

Show 5 drivers

52w change+34.4% (84pt)
DMA-trend alignmentstrong up (100pt)
RSI (14)76.9 (65pt)
Price vs 200-DMA+34.6% (100pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)67.53

OVERVALUED

CheapestP/E 67.5 at 80th %ile — pricier than 80% of peers.Most expensive

P/B6.48

OVERVALUED

CheapestP/B 6.48 at 73th %ile of sector.Most expensive

EV/EBITDA20.73

OVERVALUED

Monthly seasonality

Avg monthly return over 3 years · historical — not a forecast

Best: Apr +13.89% · Worst: Aug -8.48%

Jan

-6.0%

33% win

Feb

-0.1%

33% win

Mar

+7.6%

33% win

Apr

+13.9%

100% win

May

+0.9%

50% win

Jun

-4.7%

Monthly return distribution

Distribution of 32 monthly returns

Mean

+2.05%

Median

+0.01%

Std dev

12.10%

Best

+34.8%

Worst

-13.9%

% positive

50%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 3

Consistent top-line growth (29.0% 3Y CAGR)
Sustained revenue compounding is rare and hard to fake
Financial quality score 7/9
Piotroski ≥7 historically associated with outperformance
Top quartile ROE in Power
Rank 4 of 15 peers

WEAKNESSES · 3

Low return on equity (9.6%)
Below 10% ROE suggests inefficient use of shareholder capital
Leveraged balance sheet (D/E 1.87)
High debt amplifies earnings volatility in downturns
Premium to sector on P/E (+87%)
P/E 67.5 vs Power median 36.0

OPPORTUNITIES · 1

Strong uptrend — DMA stack bullish
Price > 20-DMA > 50-DMA > 200-DMA: momentum tailwind intact

THREATS · 2

RSI overbought at 77
Above 75 often precedes consolidation or short-term pullbacks
Valuation compression risk
P/E 67.5 is 87% above sector — any growth miss gets punished

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+3.0%

+8.8%

+27.0%

+26.7%

+40.5%

+49.8%

+17.6%

10Y

—

Fundamentals

VALUATION

Market cap

₹1,51,290 Cr

P/E (TTM)

67.5

P/E (fwd)

44.3

next 12m

P/B

6.48

EV/EBITDA

20.7

Book value

₹194.44

per share

PROFITABILITY · QUALITY

ROE

9.6%

ROCE

—

Net margin

4.5%

Op margin

27.3%

Gross margin

45.8%

D/E

1.87

GROWTH · MARKET

Rev YoY

+15.4%

Profit YoY

-5.2%

Div yield

—

Payout

0.0%

52w change

+34.4%

Beta

0.60

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 3

+Forward P/E materially below trailing (44.3x vs 67.5x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Strong operating margin (27.3%)Meaningful pricing power or cost discipline — above many Indian companies
+3-year revenue CAGR of 29.0%Sustained multi-year growth — not a one-quarter flash

CONS · 5

−Trades at a premium to sector on P/EP/E 67.5 vs Power median 36.0 — priced for more growth than peers
−Very high absolute P/E (68x)At this multiple the market prices in several years of strong growth upfront — risk of correction if growth disappoints
−Low ROE of 9.6%Below the 10%+ threshold most quality-focused investors require
−Leveraged balance sheet (D/E 1.87)

Sector-relative context

Power · 15 peers

P/E (TTM)

This stock

67.53

Sector median

36.02

Rank 12/15 (27th %ile)

ROE

This stock

9.6%

Sector median

9.1%

Rank 12/15 (27th %ile)

P/B

This stock

6.48

Sector median

3.29

Rank 11/15 (33th %ile)

Quality score · Piotroski F-score

7 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

GREY1.49

Z″ = 1.49 — GREY zone. Not flagged as distressed, but watch the weakest input component below.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.133	×6.56	0.875
Retained Earnings / Total Assets (B)	0.041	×3.26	0.134
EBIT / Total Assets (C)	0.060	×6.72	0.406
Book Equity / Total Liabilities (D)	0.069	×1.05	0.072

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

8 analysts · STRONG_BUY

Target mean

₹1129.00

Target high

₹1199.00

Target low

₹1072.00

Upside vs today

-10.4%

Street consensus target is -10.4% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Utilities - Independent Power Producers

Employees

4,191

Shares out

120.1

Revenue (TTM)

₹26,520 Cr

EBITDA

₹9,240 Cr

Total debt

₹45,545 Cr

Cash

₹6,329 Cr

Net debt

₹39,216 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	6,184	5,830	6,154	6,819	6,730
Operating profit	1,303	1,663	1,831	1,850	1,840
OPM %	21.1%	28.5%	29.8%	27.1%	27.3%
Interest	813

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	10,960	13,065	16,355	23,546
Operating profit	2,869	2,937	4,430	6,543
OPM %	26.2%	22.5%	27.1%	27.8%
Interest	2,344	2,740	2,701	3,135

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
ADANIENSOLTHIS Adani Energy Solutions Limited	₹1,259.8	+34.4%	1,51,290	67.5	6.48	9.6%	1.87	+15.4%
ADANIPOWER Adani Power Limited	₹198.5	-65.1%	3,87,295	34.3	6.63	19.4%	0.81	-8.9%
NTPC NTPC Limited	₹393.6	+8.0%	3,85,927	22.0	2.01	9.1%	1.18	+8.0%
POWERGRID Power Grid Corporation of India Limited	₹318.1	-0.6%	2,97,340	20.5	3.00	14.6%	1.41	+10.3%
ADANIGREEN Adani Green Energy Limited	₹1,127.3	+17.9%	1,89,870	134.5	10.07	7.5%	2.96	+10.7%
JSWENERGY JSW Energy Limited	₹538.05	+3.2%	95,366	41.7	3.25	7.8%	2.19	+67.4%
NTPCGREEN NTPC Green Energy Limited	₹111.96	+4.2%	94,796	163.0	5.06	—	1.16	—
NHPC NHPC Limited	₹83.56	-4.7%	83,314	53.2	2.01	—	1.00	-6.6%
PREMIERENE Premier Energies Limited	₹1,034.6	+2.5%	45,585	36.3	13.16	—	0.47	—

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	8.99	4.60	-48.9%
-2q	7.48	6.19	-17.3%
-3q	8.37	4.27	-49.0%
-4q	7.85	5.50	-29.9%

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	1,100	1,115	1,115	1,201
Reserves	1,955	3,149	4,265	5,305
Borrowings	29,945	34,270	37,070	40,275
Other liabilities	272	333	54	94
Total liabilities	47,464	53,932	58,579	73,960
Fixed assets	34,170	37,918	41,428	44,629
CWIP	5,592	6,971	4,208	6,784
Investments	1,330	1,341	1,294	2,024
Other assets	1,124	1,964	1,571	3,088
Total assets	47,464	53,932	58,579	73,960

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	4,097	3,777	6,038	8,695
CF Investing	-3,948	-4,699	-4,943	-15,228
CF Financing	-235	923	-543	7,975
Net cash flow	-75	2	551	1,448
Free cash flow	-94	-925	608	-683

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	27.8%	27.1%	22.5%	26.2%
Net margin %	4.5%	7.0%	9.6%	11.0%
ROE %	17.8%	23.6%	34.3%	39.4%
ROCE %	9.4%	11.1%	12.4%	12.3%
Debt / Equity	6.19	6.89	8.04	9.80
Interest coverage	1.3×	1.7×	1.6×	1.7×
Revenue growth YoY	+44.0%	+25.2%	+19.2%	—
Profit growth YoY	-6.8%	-9.5%	+4.3%	—

ADANIENSOLAdani Energy Solutions Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Power

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Technical snapshot

Earnings history + surprises

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Power