Elara Capital has initiated a Buy rating on Adani Energy Solutions with a target price of ₹930, citing strong growth potential in the transmission segment and emerging opportunities in smart meters as key catalysts.
Key Highlights:
- Transmission EBITDA is expected to double in the next three years to ₹7,600 crore by FY27, driven by strategic expansions and robust demand.
- Growth potential in Mundra Discom remains strong, supported by ongoing infrastructure developments and increasing power demand.
- Smart meters are emerging as a key growth catalyst, offering enhanced operational efficiency and driving revenue growth.
- Elara Capital expects an EBITDA CAGR of 26% and an EPS CAGR of 29% during FY24-27, underpinned by strategic initiatives, operational efficiencies, and robust demand.
Elara Capital remains optimistic about Adani Energy Solutions’ long-term growth potential, supported by its strategic focus on transmission, smart metering, and expanding distribution networks. The brokerage believes that Adani Energy Solutions is well-positioned to capitalize on India’s evolving energy landscape, making it a compelling investment opportunity for long-term investors.
