Adani Energy Solutions (AESL) has emerged as a standout performer in the Adani Group portfolio, with its stock hitting an over three-year high of ₹1,591 and surging 5% in Friday's trading session. According to Business Standard, the stock has zoomed 61% in the past six months compared to a 13.3% decline in the BSE Sensex during the same period. In the past three weeks alone, AESL's share price has soared 22%, significantly outperforming broader market trends. The strong performance is driven by the company's exceptional financial results for FY26, with total income growing 15.9% year-on-year to an all-time high of ₹28,325 crore.
According to an India Ratings report of 2 April, Adani Infra (India) Ltd (AIIL) has quietly emerged as one of India's largest infrastructure platforms with an orderbook exceeding ₹50,000 crore. The Ahmedabad-based company is expected to generate nearly ₹10,000 crore in annual revenue after rapid expansion over the past two years. As reported by India Ratings, the company clocked revenues of ₹6,413 crore during the first nine months of FY26, representing a sharp jump from the ₹868 crore annual revenue it achieved in FY24. The company currently maintains an outstanding PMC orderbook of over ₹46,000 crore and ₹5,750 crore for EPC work as of 31 December, with India Ratings expecting AIIL to receive EPC orders of over ₹33,000 crore during FY27 and FY28.
The market has responded positively to AIIL's infrastructure achievements, with the stock experiencing significant volume surge on recent trading sessions. According to Business Standard, Adani Enterprises Ltd clocked volume of 23.95 lakh shares by 10:46 IST on BSE, representing a 14.56 times surge over the two-week average daily volume of 1.65 lakh shares. The stock gained 1.04% to ₹3,003.60 during the session, demonstrating strong investor interest in the company's infrastructure growth story. This trading activity reflects the market's recognition of AIIL's substantial orderbook and growth prospects in India's expanding infrastructure sector.
According to India Ratings, AIIL achieved Ebitda of ₹4,450 crore during the nine months ended 31 December with an Ebitda margin of just under 70%. The rating agency expects AIIL's revenue to grow by 50-60% in FY26 and 70-80% in FY27, backed by its large orderbook. The company is 100% held by Adani Properties Pvt. Limited, which is 100% held by S.B. Adani Family Trust and other group companies. The directors of AIIL passed a resolution on 5 January allowing the company to borrow up to ₹1 trillion in debt.
As reported by India Ratings, while AIIL was incorporated in 2010, it was designated as the in-house infrastructure arm of the Adani Group only in FY25. The Adani Group is one of the largest infrastructure investors in the country across its 10 listed companies. The group decided to bring all infrastructure work under AIIL to capture the margins otherwise accruing to third-party contractors. Since FY25, the management transformed AIIL into a PMC and EPC player that executes contracts for the Adani group and EPC contracts for external counterparties, leading to an improved business profile and profitability. The Adani Group has stated it will be looking to invest about ₹2 trillion every year over the coming five years, providing significant growth opportunities for AIIL's expansion.
