Adani Energy Solutions Limited (AESL) has announced the acquisition of IntelliSmart Infrastructure Private Limited for ₹3,050 crore, a deal that will expand its smart meter portfolio to more than 4.7 crore meters and strengthen its position in India’s fast-growing smart metering market.
The transaction, which is subject to regulatory approvals, involves the acquisition of 100 percent of IntelliSmart.
Shares of Adani Energy Solutions rose nearly 1.9 percent during Tuesday’s session, touching an intraday high of ₹1,599.60. The stock later traded at ₹1,586.95, giving the company a market capitalization of ₹1.91 lakh crore.
IntelliSmart brings over 2.2 crore meters
IntelliSmart is among India’s largest smart meter companies and has a portfolio of more than 2.2 crore meters spread across several states, including:
- Uttar Pradesh
- Gujarat
- Madhya Pradesh
- Bihar
- Assam
Following the acquisition, AESL’s total smart meter portfolio will exceed 4.7 crore meters.
The company said the deal is expected to improve:
- Scale and operational efficiency
- Smart meter asset management
- Technology-driven energy solutions
- Long-term growth opportunities
According to executives from IntelliSmart, NIIF and EESL, the transaction marks a new phase in IntelliSmart’s growth and could help accelerate the digital transformation of India’s power sector.
Smart metering emerges as a growth area
The acquisition comes as India pushes to modernize its power distribution network.
Smart meters are expected to help:
- Improve billing accuracy
- Enhance energy management
- Reduce inefficiencies
- Strengthen customer services
The enlarged platform is expected to make AESL the country’s largest smart metering player.
FY26 operating performance
Adani Energy Solutions reported growth across its transmission, distribution and smart metering businesses during FY26.
Transmission business
- Network length reached 27,949 circuit kilometres
- Transformation capacity rose to 1,23,175 MVA
- System availability stood at 99.7 percent
- Utility construction order book reached ₹71,779 crore
Distribution and smart metering
- Electricity distributed: 10,584 million units
- Distribution losses: 4.21 percent
- Smart meters installed: More than 1 crore
- Smart meter order book: 24.6 million meters
Q4 FY26 results
Adani Energy Solutions reported higher revenue and profit during the quarter.
| Particulars | Q4 FY26 | Q4 FY25 | Growth |
|---|---|---|---|
| Revenue | ₹7,443 crore | ₹6,375 crore | 16.75% |
| Net Profit | ₹723 crore | ₹714 crore | 1.26% |
Over the last five years, the company has recorded:
- Revenue CAGR of 23 percent
- Net profit CAGR of 13 percent
Key ratios
- ROCE: 9.65 percent
- ROE: 9.44 percent
- EPS: ₹19
- Debt-to-equity ratio: 1.93x
About the company
Adani Energy Solutions Limited, founded in 2013 and headquartered in Ahmedabad, is the Adani Group’s power transmission and distribution arm. The company operates transmission networks, distribution businesses, smart metering projects and energy infrastructure assets.
Key highlights
| Particulars | Details |
|---|---|
| Acquisition target | IntelliSmart Infrastructure |
| Deal value | ₹3,050 crore |
| Stake acquired | 100% |
| IntelliSmart portfolio | 2.2 crore meters |
| Combined portfolio | 4.7 crore+ meters |
| Smart meter order book | 24.6 million meters |
| FY26 transmission network | 27,949 ckm |
| Utility construction order book | ₹71,779 crore |
TL;DR:
Adani Energy Solutions will acquire IntelliSmart Infrastructure for ₹3,050 crore. The deal will increase its smart meter portfolio to more than 4.7 crore meters, strengthening its position in India’s smart metering market.
AI summary:
- AESL will acquire IntelliSmart for ₹3,050 crore.
- IntelliSmart has more than 2.2 crore smart meters.
- Combined smart meter portfolio will exceed 4.7 crore meters.
- AESL installed over 1 crore smart meters during FY26.
- The deal is subject to regulatory approvals.
