ADVAIT

Advait Energy Transitions share price & financials

Price
₹2,085.4
Market cap
₹2.3k Cr
Sector
Capital Goods
Calls analysed
1
Latest concall · Q3 FY26 · call held 12 Feb 2026

ADVAIT Q3 FY26

9M FY26 Consolidated Revenue ₹486 cr +138%9M FY26 Consolidated EBITDA ₹55 cr +74%9M FY26 Consolidated PAT ₹35 cr +80%Q3 FY26 Consolidated Revenue ₹211.03 cr +114%

What went well

  • Consolidated revenue for 9M FY26 grew 138% YoY to INR486 crores.
  • Consolidated PAT for 9M FY26 grew 80% YoY to INR35 crores.
  • Order book maintained INR1,000 crores milestone, growing 132% YoY.

What to watch

  • Consolidated EBITDA margin for 9M FY26 stood at 11%, lower than standalone Q3 FY26 margin of 16.92%.
  • NRE division's contribution to the order book decreased from 24% in Q2 FY26 to 16% in Q3 FY26.
Read the full call →

What Advait Energy Transitions Limited does

Advait Energy Transitions manufactures power-transmission equipment - OPGW and ACS wires, stringing tools, Emergency Restoration Systems and optical fibre cables - and executes EPC contracts such as HTLS reconductoring, RDSS distribution upgrades and underground cabling for state utilities and DISCOMs. Through its subsidiary AGPL and New & Renewable Energy (NRE) division, it also undertakes solar EPC projects and is building green hydrogen (electrolyser and fuel-cell) and battery energy storage (BESS) manufacturing capacity, including its first BESS project as an independent power producer. Separately, it holds and monetises a portfolio of carbon credits and international renewable-energy certificates (I-RECs) generated from renewable-energy, waste-management and nature-based projects.

Segments

  • Power Transmission Solutions (PTS)
  • New & Renewable Energy (NRE)
Stringing tools manufactured (product range)
140+
Electrolyser manufacturing capacity (greenfield facility under development)
300 MW
BESS manufacturing facility capacity (under development)
2.5 GWh
Renewable energy / I-REC project portfolio (operational + pipeline)
1,200+ MW
Carbon credits / I-RECs under issuance
~5 Mn
First BESS project as IPP (GUVNL, Radhanpur, Gujarat)
50 MWh / 100 MW, 12-year concession
Founded 2010 Company website

Guidance record · Q3 FY26

what the last two calls moved 15 tracked 0 delivered 0 missed 15 open
  • Revenue growth open said Q3 FY26 Promised: 40% to 45% Q3 FY26: Looking ahead, we remain confident on delivering approximately 40% to 45% revenue growth in 2026.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 76.7%, net profit up 62.5% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue48 94 95 73 95 +98%125 +33%154 +62%129 +77%
EBITDA9 15 14 12 15 +67%21 +40%23 +64%21 +75%
Net profit6 10 10 8 10 +67%13 +30%15 +50%13 +63%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +48.4% YTD

₹1.4k₹1.6k₹1.8k₹2.0k₹2.2k₹2.4kJanFebMarAprMayJunJulAugSeptQ3 FY26 — 12 Feb 2026

YTD: ₹1,391.8 on 20 Jan 2026 → ₹2,065. High ₹2,450.6 (22 Jun 2026), low ₹1,375.6 (27 Jan 2026).

How the price took the results

close before → close after

Q3 FY26
−0.3%
12 Feb

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 46.6% a year over 2 years, FY24 to FY26. Operating margin held at 15.9%.

Year endingFY24FY25FY26
Revenue₹208 Cr₹295 Cr₹447 Cr
Operating profit₹34 Cr₹46 Cr₹71 Cr
Operating margin16.3%15.6%15.9%
Interest₹6 Cr₹9 Cr₹15 Cr
Depreciation₹1 Cr₹4 Cr₹4 Cr
Net profit₹21 Cr₹32 Cr₹46 Cr
Net margin10.1%10.8%10.3%
Cash from operations₹-8 Cr₹50 Cr₹6 Cr
Free cash flow₹-15 Cr₹36 Cr₹-70 Cr
ROCE40.0%28.0%25.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹5 Cr₹5 Cr₹10 Cr₹10 Cr₹11 Cr₹11 Cr
Reserves₹30 Cr₹36 Cr₹42 Cr₹64 Cr₹218 Cr₹250 Cr
Borrowings₹0 Cr₹6 Cr₹13 Cr₹38 Cr₹62 Cr₹94 Cr
Other liabilities₹16 Cr₹23 Cr₹41 Cr₹53 Cr₹258 Cr₹225 Cr
Total liabilities₹51 Cr₹71 Cr₹106 Cr₹165 Cr₹549 Cr₹580 Cr
Fixed assets₹2 Cr₹3 Cr₹21 Cr₹27 Cr₹40 Cr₹58 Cr
Capital work in progress₹0 Cr₹13 Cr₹1 Cr₹1 Cr₹3 Cr₹53 Cr
Investments₹11 Cr₹11 Cr₹11 Cr₹12 Cr₹23 Cr₹64 Cr
Other assets₹38 Cr₹44 Cr₹73 Cr₹125 Cr₹484 Cr₹406 Cr
Total assets₹51 Cr₹71 Cr₹106 Cr₹165 Cr₹549 Cr₹580 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters trimmed −0.69 pp while FIIs added +0.68 pp. The shareholder count grew 15% to 33,709.

Promoters
66.8%
FIIs
0.7%
DIIs
0.0%
Public
32.5%

Since Jun 2025

  • Promoters −0.69 pp
  • FIIs +0.68 pp
  • DIIs −0.68 pp

How it drifted, 12 quarters

Over this window promoters fell from 73.5% to 66.8% — −6.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 73.5%, Public 26.5%.Dec '23: Promoters 73.5%, Public 26.5%.Mar '24: Promoters 73.5%, Public 26.5%.Jun '24: Promoters 73.5%, FIIs 0.0%, Public 26.5%.Sep '24: Promoters 69.4%, FIIs 0.0%, Public 30.6%.Dec '24: Promoters 69.5%, Public 30.6%.Mar '25: Promoters 69.5%, DIIs 0.3%, Public 30.2%.Jun '25: Promoters 67.5%, DIIs 0.7%, Public 31.8%.Sep '25: Promoters 66.8%, DIIs 0.6%, Public 32.6%.Dec '25: Promoters 66.8%, FIIs 0.0%, DIIs 0.3%, Public 32.8%.Mar '26: Promoters 66.8%, FIIs 0.2%, DIIs 0.1%, Public 32.8%.Jun '26: Promoters 66.8%, FIIs 0.7%, DIIs 0.0%, Public 32.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Advait Energy Transitions Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Sheth Shalin Rahulkumar 60.34%+9.11 pp
Rejal Shalin Sheth 5.74%−9.15 pp
Tanvi Jignesh Mehta 2.30%unchanged
Ashish Kacholia 1.83%unchanged
Kedia Securities Private Limited 1.14%unchanged
Suresh Kumar Agarwal 1.08%unchanged
Rutvi Shalin Sheth 0.69%unchanged
Rahulkumar Chandrakant Sheth 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹2065, this stock must grow earnings at 29% every year for 7 years. Our analysis caps realistic growth at ~42%. At that growth it is worth ₹3802 — upside of 84%.

Growth the price implies
29.5% a year
for 7 years, fading to 4%
It has actually compounded at
48.0% a year
net profit, FY24–FY26 · EPS 42.3%
The gap
-0.1 pp
84% downside if it only repeats history
Price today ₹2,065 Value at the reference growth ₹3,802.12

Change the assumptions yourself →

Learn to analyse Advait Energy Transitions Limited

Guides on how to read this kind of business and the numbers that matter.