Adani Energy Solutions Limited (AESL), a prominent private transmission and distribution company in India and part of the globally diversified Adani portfolio, revealed its financial and operational performance for the quarter (Q1) and year ending June 30, 2023.
Revenue Growth and Key Financial Highlights
In Q1FY24, AESL witnessed a double-digit growth in consolidated revenue, attributed to incremental revenue from newly commissioned lines, partial commissioning of certain elements, and increased energy consumption in the Mumbai Distribution business. The company’s consolidated EBITDA rose to Rs 1,378 crore, marking a 4% YoY increase. The Profit Before Tax (PBT) stood at Rs 343 crore, showing a significant 70% YoY rise. The consolidated Profit After Tax (PAT) for Q1FY24 amounted to Rs 182 crore, representing an 8% YoY increase.
Renaming of Adani Transmission Ltd to Adani Energy Solutions Limited
As of July 27, 2023, Adani Transmission Ltd (ATL) has been renamed to Adani Energy Solutions Limited (AESL). This strategic change opens doors to exploring opportunities in smart metering, district cooling solutions, and other energy solutions, while maintaining a leading position in the transmission and distribution sectors.
Positive Outlook and Recognition
Despite the challenging macroeconomic environment, Anil Sardana, the managing director of Adani Energy Solutions, expressed confidence in the company’s firm growth trajectory. He emphasized that their pipeline of projects and recently operationalized assets will strengthen their pan-Indian presence and solidify their position as India’s largest private sector transmission and distribution company. Additionally, AESL’s commitment to a robust Environmental, Social, and Governance (ESG) framework and safety culture reflects their dedication to creating long-term value for all stakeholders.
Recent Developments, Achievements, and Awards
Adani Energy Solutions Limited (formerly ATL) has achieved notable recognition and accolades. It received the ‘Emerging Company of the Year Award – 2022’ at the ET Awards on Corporate Excellence, acknowledging its growth, scale, and sustainable business practices. Moreover, the Ministry of Power’s 11th Annual Integrated Rating and Ranking for Power Distribution recognized AESL as India’s No. 1 power utility, an achievement that further solidifies its position in the industry. The company also earned the prestigious Golden Peacock Award in Environment Management (GPEMA) for its commitment to sustainable practices.
In addition to these accolades, AESL received the ‘Par-Excellence Award’ at the 9th National Conclave on 5S organized by the Quality Circle Forum of India HQ (QCFI), showcasing their unmatched commitment to business excellence. The company has also been recognized in BW Business World’s annual ranking of India’s Most Sustainable Companies, where it ranked in the Top 50 for prioritizing sustainable practices.
Furthermore, AESL has made significant strides in environmental sustainability, being certified as Single-use Plastic Free, Zero Waste to Landfill (ZWL), and Net Water Positive by independent agencies like DNV, Intertek, and CII. Additionally, it was honored with the ICAI Awards for Excellence in Financial Reporting for the year 2021-22 in the Infrastructure and Construction Sector Category (turnover above Rs 500 crore).
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