Advait Energy Transitions is making a name for itself in India’s renewable energy and power transmission sectors. The company has landed a major order from Adani Green Energy Six to build a 100 MWac solar project at the Khavda Hybrid Renewable Power Project in Gujarat. The contract was won through a competitive bid. Following the news, Advait Energy’s share price rallied by 10%.
Advait-Adani Green – Project Details
The project involves end-to-end engineering, procurement and construction services for the solar installation. The company will handle everything from the ground up: civil works for pile foundations, installation of stub structures, complete electrical works, module mounting structures, solar module installation, along with a robotic cleaning system, and civil works for the IDT Station (Fixed Tilt System). The timeline for the project completion is 3.5 months, according to the regulatory filings.
Advait’s Busy Quarter
Advait Energy-Adani contract follows a string of recent wins. In January 2025, Advait Energy signed an MoU with Haryana City Gas Distribution to develop a 2,000 MTPA green hydrogen plant. The company also received a letter of award from SECI for a 200 MW alkaline electrolyser manufacturing unit. Last month, it secured an order from Karnataka Renewable Energy Development to integrate 40,000 off-grid solar pumps with SCADA systems. That kind of momentum is cementing Advait’s position as a solutions provider across the green energy value chain.
Advait Energy Post-IPO Performance & Market Reaction
Advait Energy launched its IPO on 15 September 2020 with an issue size of INR 6.88 crore. This small IPO was subscribed 1.4X and listed around its allotment price with 1.08% gains. However, in the last 5 years, Advait Energy’s share price rode on high tide and made an all-time high of INR 2,260 per share on 19 July 2024, reflecting an eye-popping return of 8,700% from its adjusted allotment price of INR 25.50 per share.
The market has taken notice. Shares of Advait Energy Transitions jumped ~10% to INR 1,176 per share during intraday trade, up from its previous close of INR 1,075.55 per share. With a market capitalization of INR 1,272 crore,
It’s worth noting that ace investor Ashish Kacholia and market veteran Suresh Kumar Agarwal each hold a 2.67% stake (~INR 34 crore investment), while Tanvi Jignesh Mehta owns 2.33%, reflecting institutional confidence in the company’s long-term potential.
Financials
Advait’s financials are matching its operational momentum:
- Q3 FY25 net profit up 27.2% YoY to INR 9.78 crore, on 35.4% rise in revenue to INR 98.45 crore.
- FY24 revenue almost doubled to INR 207.44 crore, while net profit more than doubled to INR 21.33 crore from the previous year.
- PE ratio of 40.1x, much above the industry average of 19.6x, indicates premium valuation due to high growth expectations.
- ROCE of 39.6% and ROE of 33.73%, both indicating efficient capital deployment.
Industry Positioning and Outlook
Looking ahead, Advait Energy Transitions is expanding its electrolyser production capacity and plans to set up a 1 GW manufacturing facility by 2030. The company’s presence in both legacy power transmission (OPGW, ERS, ACS wires) and emerging renewable technologies (hydrogen, solar EPC, energy storage) is a rare combination of stability and innovation.
The Khavda project win shows Advait’s execution strength in large-scale solar infrastructure. It also indicates a growing partnership with Adani Group, one of the most aggressive players in India’s energy transition.
Conclusion
As India goes for renewable energy growth to achieve net zero, companies like Advait Energy Transitions—agile, diversified and execution oriented—are set to gain. The Adani Green order is not just an order; it’s an endorsement and an inflection point for Advait to move from a transmission tools company to a full-fledged clean energy solutions company.
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