Financials Adani Energy Solutions Limited Bombay S.E.

Equities

ADANIENSOL

INE931S01010

Electric Utilities

Market Closed - Bombay S.E. 06:00:53 2024-07-12 am EDT 5-day change 1st Jan Change
1,005 INR +0.43% Intraday chart for Adani Energy Solutions Limited -0.81% -3.90%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 207,919 999,067 2,604,515 1,107,740 1,145,276 1,120,847 - -
Enterprise Value (EV) 1 452,999 1,242,173 2,604,515 1,107,740 1,145,276 1,120,850 1,120,850 1,120,849
P/E ratio 64.3 x 101 x 266 x - - - - -
Yield - - - - - - - -
Capitalization / Revenue 1.82 x 10.1 x 23.1 x 8.33 x 6.9 x 5.91 x 5.05 x 4.4 x
EV / Revenue 3.97 x 12.5 x 23.1 x 8.33 x 6.9 x 5.91 x 5.05 x 4.4 x
EV / EBITDA 10.1 x 29.3 x 53.3 x 19.9 x 20.1 x 14.9 x 11 x 8.73 x
EV / FCF 16,937,537 x -739,432,871 x -2,763,411,404 x - - - - -
FCF Yield 0% -0% -0% - - - - -
Price to Book 2.45 x - - - 9.06 x 7.7 x 6.31 x 5.03 x
Nbr of stocks (in thousands) 1,099,810 1,099,810 1,099,810 1,115,493 1,115,493 1,115,493 - -
Reference price 2 189.0 908.4 2,368 993.0 1,027 1,005 1,005 1,005
Announcement Date 5/9/20 5/6/21 5/5/22 5/29/23 4/30/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 114,160 99,263 112,575 132,927 166,074 189,686 221,986 254,536
EBITDA 1 44,866 42,330 48,886 55,532 57,112 75,236 101,814 128,355
EBIT 33,126 32,043 - - - - - -
Operating Margin 29.02% 32.28% - - - - - -
Earnings before Tax (EBT) 1 11,067 16,199 17,005 17,117 17,796 25,541 42,821 60,425
Net income 1 7,418 12,240 12,046 12,563 11,373 19,152 32,109 45,309
Net margin 6.5% 12.33% 10.7% 9.45% 6.85% 10.1% 14.46% 17.8%
EPS 2.940 9.020 8.900 - - - - -
Free Cash Flow 26,745 -1,680 -942.5 - - - - -
FCF margin 23.43% -1.69% -0.84% - - - - -
FCF Conversion (EBITDA) 59.61% - - - - - - -
FCF Conversion (Net income) 360.54% - - - - - - -
Dividend per Share - - - - - - - -
Announcement Date 5/9/20 5/6/21 5/5/22 5/29/23 4/30/24 - - -
1INR in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 29,120 29,747 31,319 32,515 35,517 33,577
EBITDA 1 11,680 11,912 12,130 12,410 13,180 15,685
EBIT - - - - - -
Operating Margin - - - - - -
Earnings before Tax (EBT) - - - - - -
Net income 1 2,670 2,296 - - - 3,894
Net margin 9.17% 7.72% - - - 11.6%
EPS - - - - - -
Dividend per Share - - - - - -
Announcement Date 2/3/22 5/5/22 8/3/22 11/2/22 2/6/23 5/29/23
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 245,080 243,106 - - - 2.7 2.5 2.1
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.462 x 5.743 x - - - 0.000036 x 0.000025 x 0.000016 x
Free Cash Flow 26,745 -1,680 -943 - - - - -
ROE (net income / shareholders' equity) 8.97% 14.1% 12.8% 11.6% 9.33% 13.4% 18.9% 21.5%
ROA (Net income/ Total Assets) 2.05% - - - - - - -
Assets 1 361,862 - - - - - - -
Book Value Per Share 2 77.30 - - - 113.0 131.0 159.0 200.0
Cash Flow per Share 21.50 - - - - - - -
Capex 1 27,627 39,523 - - 54,295 131,978 105,000 105,000
Capex / Sales 24.2% 39.82% - - 32.69% 69.58% 47.3% 41.25%
Announcement Date 5/9/20 5/6/21 5/5/22 5/29/23 4/30/24 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
1,005 INR
Average target price
1,365 INR
Spread / Average Target
+35.85%
Consensus

Quarterly revenue - Rate of surprise

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