Advait Energy Transitions Limited (ADVAIT) share price

₹2065.00 on NSE as of 2026-09-11. +0.36% on the day. market cap ₹2,268 Cr. P/E 38.4. 52-week range ₹1375.60 to ₹2450.60. Capital Goods.

Advait Energy Transitions Q1 FY27: Revenue Up 51% to ₹179 Cr, a ₹1,330 Cr Order Book, and 140 Kinds of Stringing Tool

At a glance

Consolidated revenue for the June 2026 quarter was ₹179.27 Cr against ₹118.43 Cr a year earlier, up 51%. Operating profit was ₹24.78 Cr versus ₹13.75 Cr, PAT ₹13.89 Cr versus ₹8.37 Cr, and EPS ₹12.69 versus ₹7.73. Sequentially the March quarter's ₹228.20 Cr was larger, which is the ancient habit of Indian project companies: do the year's homework in the last quarter, then start the new one at a walk.

The order book stood at ₹1,330.1 Cr as of 30 June 2026 per the investor presentation, including L1 positions, against ₹676.6 Cr a year prior. Fresh inflow in the quarter was about ₹255 Cr. Then July happened, and the filings turned into a Gujarat DISCOM ticker-tape: four separate PGVCL underground cable orders announced on 10 July at ₹75.56 Cr, ₹64.20 Cr, ₹58.25 Cr and ₹52.57 Cr, all executable in 18 months, plus a ₹51.6 Cr DGVCL MVCC order on 7 July. On 11 August came a ₹24.88 Cr GETCO ERS order, and on 18 August a ₹116 Cr turnkey EPC contract for a 200 MW solar project in Bikaner.

Segmentally, PTS contributed ₹127.22 Cr of consolidated quarterly revenue and NRE ₹52.06 Cr. Ratios lifted from Screener: ROE 21.5%, ROCE 27.9%, D/E 0.34, Stock P/E 40.3 against an industry P/E of 27.6. CRISIL upgraded the long-term rating to A-/Stable in March 2026.

Introduction

Advait Energy Transitions Limited — until recently Advait Infratech Limited, a rename that compressed the entire corporate strategy into one filing with the Registrar — was established in 2009 and is headquartered in Gujarat. The company describes itself as a global leader in end-to-end solutions for power transmission, substations and telecommunication infrastructure.

The presentation's timeline runs 2010 to 2026. Founded by Mr. Shalin Sheth, the early focus was executing transmission projects. Per the company, it reached roughly 50% domestic market share in stringing tools and about 30% in insulator supply, began OEM manufacturing of stringing tools, and formed a JV with TG, China, for OPGW/OFS manufacturing. It listed on the BSE SME board in 2020, migrated to the BSE main board in July 2023, and reached the NSE main board in January 2026 — the full Indian listing ladder, climbed rung by rung, in the correct order, which is rarer than the phrase makes it sound.

In 2023 the company entered renewable energy with Green Hydrogen and Solar Power integration work. Since then the group has grown a family tree that now needs its own org chart: Advait Greenergy (solar and NRE EPC), A&G Hydrogen Technologies (electrolysers and dispensers), Advait Battery Ecosystems (BESS manufacturing), Advait Unified Renewable Assets (asset ownership), Advait Carbon Advisory & Renewable Assets (carbon trading), Advait Transmission Tools (stringing tools) and Advaiteco Technologies (fuel cells). Management's stated reason for the entity-splitting was clear focus of growth, access to targeted bank facilities, and readiness to raise equity per vertical. The auditor's report now lists six subsidiaries plus a joint venture — a strategy you can measure by counting letterheads.

The company also reports commissioning what it calls India's first operational green hydrogen microgrid — a 300 kW electrolyser paired with a 70 kW PEM fuel cell — for THDC India.

Business model

Two halves. The first, Power Transmission Solutions, is the trade of keeping high-voltage wire in the air and optical fibre inside it. Advait manufactures and supplies OPGW (optical fibre ground wire), ACS wires, optical fibre cables, Emergency Restoration Systems, insulators, and 140 distinct varieties of stringing tool — which is 139 more than most people would guess the category contains. Stringing tools are the specialised hardware used to pull conductor across towers without dropping it, a job where the tool catalogue exists precisely because improvisation is not an option.

The ERS piece is the genuinely cinematic one. When a transmission tower falls over, someone has to erect a modular temporary tower in a hurry, because a grid does not accept excuses. Advait reports a 35% share of India's ERS market and was the first Indian company to commission a Make-in-India ERS, across 33 kV to 800 kV. It also does live-line OPGW installation: stringing cable onto conductors that are still energised, a discipline whose training manual is presumably very short and very firm.

On the EPC side: RDSS distribution work, HTLS reconductoring (replacing old conductor with higher-capacity conductor on the same towers), underground cabling, and MVCC/HT AB cable integration. Customers are transmission utilities, government DISCOMs, private EPC contractors and industrial buyers. The company cites 450+ projects across 45+ countries, 25,000 km+ of live-line installation, and a customer count that moved from 60 to 120 between FY24 and FY26.

The second half, New & Renewable Energy, is where the acronyms breed. Electrolyser manufacturing (alkaline and AEM), PEM fuel cells, hydrogen refuelling and blending systems, hydrogen storage, solar EPC including robotic module cleaning, BESS from pack to container, carbon credits and I-RECs, and an asset-ownership platform. The carbon division issued 63,000 I-RECs for a Nepal-based client in a single month.

FY26 divisional mix per the company: PTS 63% and NRE 37%, against 74:26 in FY25. Within PTS's FY26 revenue: Power DISCOM projects 50%, stringing tools 16%, OPGW 13%, HTLS reconductoring 9%, ACS 6%, others 6%. Manufacturing sits at Kadi, Gujarat — 84,000 sq ft for ACS, OPGW, tools and ERS, plus a 14,200 sq ft, 30 MW electrolyser semi-assembly unit inaugurated in March 2026. A 4,00,000+ sq ft facility at Gangad is targeted to be operational by Q4 FY27, carrying 12,000 km of specialised conductors, 2.5 GWh of BESS, 300 MW of electrolysers and a PEM fuel cell line.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Advait Energy Transitions Limited.

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