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Adani Energy Solutions Limited (ADANIENSOL) Fair Value & Analysis

Utilities · IN · Market cap ₹2.1T

AE Adani Energy Solutions Limited ADANIENSOL · NSE
Price₹1,583
Fair Value₹342.02
Upside-78.4%
Quality30/100
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Expensive Growth
Thin margins · 8.3% net margin
High debt · negative free cash flow
Mixed vs. peers (5/12)
Moderate moat 49/100
Evidence: Medium Range ₹242.26 – ₹427.52 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated today

Share price −6.3% over the past month.

Below-average quality, and screening another 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹427.52). The favourable scenario is already priced in.
  • Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹4,105 ₹600.75 Fair Value ₹342.02 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹600.75 – ₹4,105 · fair‑value band ₹242.26 – ₹427.52 · the ₹1,583 price screens above the ₹342.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Adani Energy Solutions Limited (ADANIENSOL) currently trades at ₹1,583, while our model-based Fair Value estimate is ₹342.02, implying the stock looks roughly 78.4% overvalued today. The Quality Score stands at 30/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Adani Energy Solutions Limited generated revenue of ₹276B at a net margin of 8.3%. Revenue grew 16.8% year over year. It earns a return on equity of 9.7%. Net debt stands at ₹474B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹242.26 (bear case) to ₹427.52 (bull case); at ₹1,583, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -46% fair-value upside, at -78%, ADANIENSOL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹183.92 ₹202.14 ₹303.67 76
ROIC Compounder ₹164.09 ₹326.72 ₹556.18 72
Growth-Adj P/E ₹419.11 ₹598.73 ₹778.34 68
All 14 models by family
Earnings-Based
Graham-Dodd ₹129.21 ₹901.06 ₹1,265 54
Lynch FV ₹349.94 ₹499.91 ₹649.89 50
PEG = 1.0 ₹349.94 ₹499.91 ₹649.89 46
EPV ₹164.09 ₹257.14 ₹339.86 59
Multiples
P/E Multiple ₹256.51 ₹342.02 ₹427.52 63
P/S Multiple ₹242.26 ₹323.01 ₹403.77 58
P/B Multiple ₹242.26 ₹323.01 ₹403.77 55
EV/EBIT ₹302.27 ₹524.10 ₹745.94 53
EV/EBITDA ₹203.95 ₹393.01 ₹582.06 54
EV/Revenue ₹38.68 ₹210.92 ₹383.16 43
Asset-Based
NCAV (Graham) ₹105.83 ₹141.82 ₹211.67 50
Economic Profit
Residual Income ₹183.92 ₹202.14 ₹303.67 76
ROIC Compounder ₹164.09 ₹326.72 ₹556.18 72
Growth Earnings
Growth-Adj P/E ₹419.11 ₹598.73 ₹778.34 68

Widest divergence: Growth Earnings (₹598.73) versus Asset-Based (₹141.82). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹276B
Revenue growth (YoY) +16.8%
Net margin 8.3%
Return on equity 9.7%
Free cash flow −₹34.4B FY2026
P/E ratio 85.0
More key figures
Operating margin 22.0%
EPS (TTM) ₹18.63
EPS growth (YoY) +3.5%
Net debt ₹474B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 30/100

Of which business quality 33 · Market factors (momentum, volatility) 82

Profitability 30
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 91
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 30
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Adani Energy Solutions Limited, together with its subsidiaries, generates, transmits, and distributes power in India. It operates through the Transmission; Distribution; Smart Meter; Trading; and Others segments.

Full company description

Adani Energy Solutions Limited, together with its subsidiaries, generates, transmits, and distributes power in India. It operates through the Transmission; Distribution; Smart Meter; Trading; and Others segments. The company is involved in the establishment, commission, setting up, operation, and maintenance of electric power transmission systems; development, ownership, and operation of transmission lines; trade of bullion and other commodities; and laying of optical ground wire fibers on transmission lines to telecom solutions to telecom companies, internet service providers, and long-distance communication operators. It also provides electricity meters to optimize real-time insights of electricity usage. The company was formerly known as Adani Transmission Limited and changed its name to Adani Energy Solutions Limited in July 2023. The company was incorporated in 2013 and is headquartered in Ahmedabad, India. Adani Energy Solutions Limited operates as a subsidiary of S.B. Adani Family Trust.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Adani Energy Solutions Limited reported revenue of ₹276B in FY2026 versus ₹113B in FY2022, a compound +25.1%/yr. Reported net income was ₹22.8B in FY2026, compounding +17.3%/yr from FY2022.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹276B
Latest YoY
+16.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+27.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+22.7%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.3%
Revenue +25.1%/yr
FY22 ₹113B
FY23 ₹133B
FY24 ₹166B
FY25 ₹238B
FY26 ₹276B
Net income +17.3%/yr
FY22 ₹12.0B
FY23 ₹12.6B
FY24 ₹11.4B
FY25 ₹10.6B
FY26 ₹22.8B
Character of growth · EPS growth decomposed (2015-2026) +19.4 % p.a.
Revenue per share +29.3 pp

of which total revenue +29.9 pp · buybacks/dilution −0.6 pp

EBIT margin −8.8 pp
Tax rate −0.2 pp
Residual (interest, one-offs) −1.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

ADANIENSOL screens 78% overvalued. Compare with Constellation Energy Corporation →

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Cite: Fair Value Calculator (2026). "Adani Energy Solutions Limited Fair Value". https://www.fairvalue-calculator.com/stock/ADANIENSOL

Peer Group

Utilities - Independent Power Producers · 77 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 30 · Bottom 25%
Fair Value upside −78% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 22% · Above median
Revenue growth 17% · Top 25%
Debt / equity 1.78× · Higher than 75% of peers

Valuation Multiples vs Utilities - Independent Power Producers median · lower = cheaper

P/E (TTM) 85.0× · Pricier than 75% of peers
P/B 8.13× · Pricier than 75% of peers
P/S (TTM) 7.50× · Pricier than 75% of peers
EV/EBITDA 27.7× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 20
FUTURE 84 · sector 0
PAST 39 · sector 31
HEALTH 11 · sector 70
DIVIDEND 0 · sector 52

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Constellation Energy Corporation CEG $278.68 $88.09 -68%
Vistra Corp VST $146.68 $50.39 -66%
Adani Power Limited ADANIPOWER ₹206.10 ₹75.57 -63%
CGN Power Co 003816 ¥3.93 ¥2.79 -29%
NRG Energy, Inc NRG $120.66 $53.91 -55%
Gulf Development Public Company GULF 65.00 THB 39.25 THB -40%
Talen Energy Corporation TLN $365.07 $43.55 -88%
Datang International Power Generation Co 601991 ¥6.29 ¥4.95 -21%
Power Assets Holdings 0006 HK$57.30 HK$30.76 -46%
Huaneng Power International, Inc 600011 ¥6.92 ¥9.14 +32%

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Frequently asked questions

Is Adani Energy Solutions Limited (ADANIENSOL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹342.02 versus a price of ₹1,583, about −78% (overvalued).
What is the fair value of ADANIENSOL?
Our model-based fair value for Adani Energy Solutions Limited is ₹342.02 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,583.
What is the quality score of ADANIENSOL?
Adani Energy Solutions Limited has a Quality Score of 30/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Adani Energy Solutions Limited (ADANIENSOL)?
Adani Energy Solutions Limited reported trailing-twelve-month revenue of about ₹276B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ADANIENSOL?
The net profit margin of Adani Energy Solutions Limited is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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