Ahmedabad-based Advait Energy Transitions Limited reported an 88.5% rise in consolidated second-quarter profit after tax to ₹19.18 crore on 30 October 2026. Revenue from operations rose 40.8% to ₹220.9 crore, and the order book reached ₹1,574.83 crore at 30 September 2026. The company is also setting up a battery energy storage system (BESS) assembly facility with 2.5 GWh of annual capacity in Gujarat, adding manufacturing to its renewable energy business.
Key Financial Details
The company’s media release gives these consolidated figures for the quarter ended 30 September 2026, compared with a year earlier:
- Revenue from operations: ₹220.9 crore, against ₹156.9 crore, up 40.8%
- EBITDA: ₹31.9 crore, against ₹17.3 crore, up 84.4%
- EBITDA margin: 14.45%, against 11.04%, up 342 basis points
- Profit after tax: ₹19.18 crore, against ₹10.2 crore, up 88.5%
- Profit margin: 8.68%, against 6.49%
For the half year, consolidated revenue rose 45.37% to ₹400.21 crore from ₹275.3 crore. Profit after tax rose 77.89% to ₹33.99 crore from ₹19.1 crore, and earnings per share were ₹29.53. Return on equity stood at 20.87%. The debt-equity ratio was 0.86 times and interest coverage was 5.73 times. Capital work-in-progress stood at ₹159.71 crore.
Order Book and Business Split
The ₹1,574.83 crore order book is 47% higher than a year earlier, and it compares with ₹1,330 crore at 30 June 2026. The Power Transmission Solutions (PTS) business contributes 68% and the New & Renewable Energy (NRE) business 32%.
PTS secured orders worth about ₹462 crore. These were led by underground cabling for Paschim Gujarat Vij Company Limited (PGVCL) and emergency restoration systems for Madhya Pradesh Power Transmission Company Limited and Gujarat Energy Transmission Corporation Limited. NRE secured a ₹116 crore solar engineering, procurement and construction order for a 200 MW project from KPI Green Energy. The company has not given the delivery schedule for the order book in the release.
Battery Storage Plans
Advait Battery Ecosystem Private Limited, a subsidiary, is setting up the assembly facility across about 4,00,000 square feet at Gangad, Gujarat. The company calls it a cell-to-container line for utility-scale and commercial and industrial storage. A Master Supply Agreement signed with global energy storage manufacturer Hithium on 18 September 2026 supports cell offtake of up to 1 GWh over the next year. Hithium will supply 314 Ah lithium iron phosphate prismatic cells.
The August 2026 investor presentation listed the Gangad unit as due to be operational in Q4 FY27, with machinery arrival and installation scheduled for Q3 FY27. The October release gives no date, and Advait has not disclosed a project cost or first customers. Bhushan Shahane, Chief Operating Officer of Advait Battery Ecosystem, said in September that a dependable cell supply chain is central to delivering cost-optimised storage in India.
The group is also developing storage projects of its own, including one at Radhanpur, Gujarat. Advait BESS Bhesaan Private Limited signed a Battery Energy Storage Purchase Agreement with Gujarat Urja Vikas Nigam Limited on 1 June 2026. The agreement covers a 150 MW / 300 MWh standalone project near the 220 kV Bhesan substation, won under GUVNL Phase-VIII with viability gap funding through the Power System Development Fund.
Management Comment
Founder and Managing Director Shalin Sheth said the first half of FY27 had brought revenue growth and a significant improvement in profitability. He said the PTS business remains central to the growth strategy, supported by investment in transmission infrastructure, grid modernisation and renewable integration. Sheth added that the NRE business is focused on manufacturing BESS and electrolysers and on integrated renewable solutions. He said the second half would focus on timely execution, capacity expansion and working capital discipline.
Board Decisions
The board took three further steps on 30 October 2026. It approved the appointment of Vimal Kishore Yadav as Chief Operating Officer of the company. It approved buying 1,000 additional shares of Advait Unified Renewable Assets Private Limited for ₹10,000, taking the holding to 90%. It also noted the purchase of 12,733 additional shares of Advait Greenergy Private Limited for ₹7,95,81,250, taking that holding to 79.65%.
About the Company
Advait, formerly Advait Infratech Limited, was established in 2009 and is headquartered in Ahmedabad. Its PTS business makes stringing tools, optical ground wire, aluminium-clad steel wires, emergency restoration systems and insulators, and it executes transmission projects. Its NRE business covers solar projects, BESS and green hydrogen. The company reports having commissioned a green hydrogen microgrid with a 300 kW electrolyser and a 70 kW fuel cell.
The Company’s Recent Pipeline
According to Advait’s stock exchange filings in 2026:
- August 2026: Received a turnkey order from Madhya Pradesh Power Transmission Company Limited for emergency restoration systems for 400 kV, 220 kV and 132 kV lines.
- October 2026: Reported that the Haryana Electricity Regulatory Commission had granted a distribution licence to a consortium led by Eleven Power Private Limited, of which Advait is a member. The licence covers the Gurugram and Nuh revenue districts.
Outlook
Machinery installation at Gangad is scheduled for Q3 FY27, the current quarter, with operations due in Q4 FY27 on the August timeline. The Hithium arrangement covers up to 1 GWh over the next year. Sheth has said the company’s focus in the second half will be timely execution, capacity expansion and working capital discipline. The company also plans electrolyser manufacturing, for which the release gives no timeline.
Official Sources
- Advait Energy Transitions Limited – Media release on Q2 FY27 results (NSE, 30 October 2026): https://nsearchives.nseindia.com/corporate/ADVAITENERGY_30102026181007_SE_mediarelease_s.pdf
- Advait Energy Transitions Limited – Outcome of board meeting and financial results (NSE, 30 October 2026): https://nsearchives.nseindia.com/corporate/ADVAITENERGY_30102026172032_Outcome.pdf
- Advait Energy Transitions Limited – Master Supply Agreement with Hithium (NSE, 28 September 2026): https://nsearchives.nseindia.com/corporate/ADVAITENERGY_28092026141104_SE_intimation__MSA_with_Hithium_revisednew2809_s.pdf
- Advait Energy Transitions Limited – BESPA for 150 MW / 300 MWh with GUVNL (NSE, 2 June 2026): https://nsearchives.nseindia.com/corporate/ADVAITENERGY_02062026181955_AETL_SEintimation_BESPAsigning_s.pdf
- Advait Energy Transitions Limited – Grant of distribution licence by HERC to consortium (NSE, 21 October 2026): https://nsearchives.nseindia.com/corporate/ADVAITENERGY_21102026154500_AETL_SEintimation_s.pdf
- Advait Energy Transitions Limited – Investor presentation Q1 FY27 (NSE, 10 August 2026): https://nsearchives.nseindia.com/corporate/ADVAITENERGY_10082026142315_SE_IP_s.pdf
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