Adani Energy Accelerates Daily Meter Installations To 25,000 Units

Adani Energy Solutions (AESL)’s relatively new business vertical – the smart metering segment, now contributes 10 per cent to its overall profit earnings, with a multi-fold rise seen in smart meter installations over the last few quarters.

Rapid Installation Growth
Of the 92.5 lakh smart meters that the company has installed till date, two-thirds or 61.2 lakh meters were installed in the last nine months of the current financial year alone. People in the know added, execution for the company’s smart meter businesses has picked pace in the last few quarters, largely owing to tidying out of execution issues.

Execution Challenges Addressed
“The smart metering business generally sees a lot of variable factors such as on-ground execution, availability of manpower and occasionally even elections,” noted an industry source, who did not wish to be identified. The source added, “the improvement seen in execution is largely due to solving for manpower availability through training and incentives and better use of tech to fasten installation formalities.”

Targets One Crore Meters
AESL in its press statement on Thursday said it is on track to surpass one crore cumulative smart meters installed by the end of FY26. In a call with analysts on Friday, senior executives from the company noted, “we have been making all efforts in picking up execution rate. So we are installing about 25,000 meters a day.”

Smart Segment Profits Rise
In the same period, profits from AESL’s smart business have also been on the rise. Operating EBITDA for this business segment saw a multi-fold rise to Rs 213 crore in Q3FY26, against Rs 15 crore a year ago. EBITDA is earnings before interest, taxation, depreciation and amortisation.

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Smart Meters Boost Overall EBITDA
For Q3FY26, the company reported an overall operating EBITDA of Rs 1802 crore, more than 10 percent of which came from the smart meters business. The company’s management attributed its growth in overall profits to a robust growth in transmission and the smart metering segment.

Orderbook and Expansion Plans
As of December, AESL has a smart metering orderbook of 2.46 crore meters with a revenue potential of Rs 29,519 crore, the company said. Maharashtra currently has the biggest share in AESL’s orderbook, followed by Andhra Pradesh, and other states such as Assam, Bihar and Uttarakhand. The company expects to reach 5 crore smart meters installation in the next two years, based on its current pipeline and an expectation of increased bidding activity in the next financial year.

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