Adani Power’s nuclear energy push: Gautam Adani-led Adani Power Limited (APL) has announced formation of a new subsidiary to focus on generating, transmitting
and distributing electric power derived from nuclear or atomic energy. The newly-formed unit, Adani Atomic Energy Limited (AAEL), is incorporated as a wholly-owned subsidiary of the company with an authorised capital of Rs 5,00,000. Of this, of which APL holds 100 per cent shareholding, classified as a related party transaction, Adani Power said in an exchange filing. Shares of Adani Power were trading 0.73 per cent lower at Rs 149.75 on February 12, 2026, in early morning deals. The Adani Group's move to set up a new subsidiary operating in the nuclear sector comes after the Parliament passed the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Bill, 2025 (SHANTI) in December last year. The SHANTI Act seeks to unveil the civil nuclear power sector for private participation as India targets 100 GW atomic energy capacity by 2047.
Adani Power Q3 Results
Adani Power reported a negative consolidated earnings for the third quarter ended December 31, 2025.
The company’s net profit fell to Rs 2,488 crore, compared with Rs 2,940 crore in the same quarter last year, a year-on-year decline of 15.4 per cent. On a sequential basis, profit declined 14.4 per cent from Rs 2,906 crore in Q2 FY26.
Revenue from operations stood at Rs 12,451 crore, down from Rs 13,671 crore a year ago, a YoY decline of almost 9 per cent. On a quarter-on-quarter basis, revenue fell 7.5 per cent from Rs 13,456 crore in Q2 FY26.
EBITDA came in at Rs 4,636 crore, a 3.1 per cent decrease from the previous year’s Rs 4,786 crore. However, the company managed to expand its EBITDA margin to 36.5 per cent, up 90 basis points from 35.6 per cent in Q3 FY25.
Income And Profitability Pressure
Total income declined to Rs 12,995 crore from Rs 14,833 crore last year, a drop of 12.4 per cent YoY, mainly due to lower other income and softer operating revenues, according to the company's exchange filing.
Meanwhile, profit before tax (PBT) came in at Rs 2,945 crore, compared to Rs 4,059 crore in Q3 FY25, a YoY decline of 27.4 per cent, and down 25.7 per cent QoQ from Rs 3,966 crore in Q2 FY26.
Cost Structure Trends
Fuel costs declined marginally to Rs 6,758 crore from Rs 7,425 crore last year (down 9.0 per cent YoY), offering partial cost-side support. While finance costs fell to Rs 701 crore from Rs 957 crore (down 26.7 per cent YoY).
According to the Adani Group firm, total expenses stood at Rs 10,050 crore, compared with Rs 10,775 crore in Q3 FY25, a YoY decline of 6.7 per cent.
