Board Meeting Details

The Board of Directors meeting was held on October 22, 2026, from 1:25 PM to 2:25 PM, where the unaudited financial results for the quarter and half year ended September 30, 2026 were approved and taken on record.

Financial Results Overview

Standalone Financials (₹ in Crores)

Quarter Ended September 30, 2026:

  • Total Income: ₹1,088.60
  • Total Expenses: ₹1,022.81
  • Profit Before Tax: ₹65.79
  • Tax Expense: ₹8.50
  • Profit After Tax: ₹57.29
  • Total Comprehensive Income: ₹90.67
  • Paid-up Equity Capital: ₹1,222.95
  • Borrowings: ₹10,635.77
  • Earnings Per Share (₹): 0.47

Half Year Ended September 30, 2026:

  • Total Income: ₹2,292.36
  • Total Expenses: ₹2,162.78
  • Profit Before Tax: ₹129.58
  • Tax Expense: ₹23.19
  • Profit After Tax: ₹106.39
  • Total Comprehensive Income: ₹122.81

Consolidated Financials (₹ in Crores)

Quarter Ended September 30, 2026:

  • Total Income: ₹10,239.33
  • Total Expenses: ₹10,127.31
  • Profit Before Tax: ₹1,692.10
  • Tax Expense: ₹155.91
  • Profit After Tax: ₹1,363.92
  • Total Comprehensive Income: ₹1,435.19
  • Paid-up Equity Capital: ₹1,222.95
  • Borrowings: ₹51,520.09
  • Earnings Per Share (₹): 11.08

Half Year Ended September 30, 2026:

  • Total Income: ₹20,091.53
  • Total Expenses: ₹17,244.28
  • Profit Before Tax: ₹3,136.50
  • Tax Expense: ₹557.58
  • Profit After Tax: ₹2,600.48
  • Total Comprehensive Income: ₹2,495.15

Significant Events and Updates

Qualified Institutional Placement (QIP)

The Company successfully completed its ₹3,500 crores QIP during the quarter. The Management Committee approved allotment of 2,16,71,826 equity shares of face value ₹10 each at ₹1,615 per share (including premium of ₹1,605 per share).

Capital Structure Impact:

  • Pre-QIP paid-up capital: ₹1,201.28 crore (120,12,82,642 shares)
  • Post-QIP paid-up capital: ₹1,222.95 crore (122,29,54,468 shares)
  • Increase of ₹21.67 crore in equity capital

IntelliSmart Acquisition

During previous quarter, the Company executed binding securities purchase agreement to acquire 100% equity stake in IntelliSmart Infrastructure Private Limited, a smart metering JV between NIIF and EESL.

Transaction Details:

  • Total consideration: ₹3,050 crore
  • Will make AESL India's largest smart metering platform with over 4.7 crore smart meters
  • Transaction closing subject to regulatory and customary approvals

US Legal Matter Regarding Director

During FY2024-25, a non-executive director faced US DOJ indictment and US SEC civil complaint in Eastern District of New York. The Company was not named in these matters.

Current Status (as of September 30, 2026):

  • US SEC civil complaint: Final judgment entered on August 10, 2026, with director permanently restrained from violating certain securities laws and paying civil penalty
  • US DOJ indictment: Dismissed with prejudice on August 10, 2026, all charges dropped
  • Matter concluded with no impact on the Company

Segment Information

Reportable segments include:

1. Transmission (Transmission of power)

2. Distribution (Mumbai city and Mundra distribution)

3. Smart Meter (Smart meter business)

4. Energy Solutions Platform (Power solutions to C&I consumers and trading)

5. Others (EPC Contracts)

Segment Revenue for H1 FY27 (₹ in Crores):

  • Transmission: ₹6,933.97
  • Distribution: ₹6,701.86
  • Smart Meter: ₹731.13
  • Energy Solutions Platform: ₹4,103.77
  • Others: ₹474.30
  • Total: ₹18,945.02

Additional Information

  • Previous year/period figures regrouped/reclassified for consistency
  • The statement includes financial information for 118 subsidiaries in consolidated results
  • 87 subsidiaries reviewed by other auditors, 9 subsidiaries not reviewed/audited
  • Recovery of past years Regulatory Asset Charges impacted revenue and regulatory deferral account balances

Financial Ratios (Consolidated)

  • Debt-Equity Ratio: 1.59 (as of September 30, 2026)
  • Operating Margin: 32.45% (H1 FY27)
  • Net Profit Margin: 12.94% (H1 FY27)