AESL Q4 FY26 Earnings Call: Capex, Pipeline & Growth Outlook

Order Pipeline DisclosedAnalyst Day Multiyear TargetsInvestor Communications View source PDF

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Price reaction · full curve 14 horizons · vs prior close

+4.7%1-day move

₹1344.95

prior close

₹1357.00

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After-mkt

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AI summary

Q4 FY26 call: Mumbai HVDC commissioned March 2026. Smart meter installs hit 83 lakh (target was 70 lakh). FY26 capex ~INR15,000 crores. FY27 capex guided at INR22,000 crores (transmission 15,500; distribution 2,350; smart metering 3,900). Transmission share rose to 29-30%; pipeline INR150,000 crores. C&I has 5 GW renewable tied up. Credit ratings upgraded to AAA. Leverage at 4.5x-4.7x. Transmission EBITDA seen 3x in 36-40 months.

Likely market impact

Strong growth visibility with multi-year capex pipeline, improved credit ratings, and transmission market share gains. Long-term EBITDA expansion signaled.