Recent Visitors 1

Adani Enterprises Q1 FY27 Results Report: Record EBITDA

Adani Enterprises posts record quarterly EBITDA as airports, copper and infrastructure businesses drive growth

Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, has reported its strongest quarterly operating profit to date, supported by higher earnings from airports, copper operations and infrastructure businesses, while also recording a net loss after accounting for a one-time settlement with the United States Office of Foreign Assets Control (OFAC).

For the quarter ended June 30, 2026, the company reported total income of Rs 33,546 crore, a rise of 50 per cent from Rs 22,437 crore in the same period last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) reached a record Rs 5,642 crore, up 49 per cent year on year.

Profit before tax stood at Rs 1,295 crore, excluding an OFAC settlement of Rs 2,644 crore. After including the settlement, the company reported a loss attributable to owners of Rs 1,160 crore, compared with a profit of Rs 885 crore in the corresponding quarter of FY26.

The results come as Adani Enterprises continues to expand across airports, renewable energy, transport infrastructure, data centres, mining services and metals. The company has spent the past several years building businesses that are expected to generate larger returns as projects become fully operational.

Chairman Gautam Adani said the company had started the financial year with its highest quarterly EBITDA. He pointed to the start of international flights at Navi Mumbai International Airport, toll collections on the Ganga Expressway, the expansion of solar manufacturing and a large data centre contract as important developments during the quarter.

He also referred to the company’s Rs 15,000 crore Qualified Institutional Placement (QIP), completed in July 2026, saying it reflected strong participation from institutional investors. The fundraising exercise attracted bids worth about 3.8 times the base issue size, making it one of the largest QIPs by a non-financial corporate in India.

AEL’s airport business remained one of its strongest performers during the quarter. Revenue from airports increased as passenger traffic, aircraft movements and commercial activities continued to recover.

Airport EBITDA rose 49 per cent year on year to Rs 1,633 crore, while total income from the segment increased 39 per cent to Rs 3,763 crore. Passenger traffic across the company’s airports reached 24.2 million during the quarter, up from 23.4 million a year earlier. Aircraft movements increased to 160,400 and cargo handled rose to three lakh metric tonnes.

A major operational milestone came after the close of the reporting quarter when Navi Mumbai International Airport began international flight operations on July 15, 2026. The airport is expected to ease congestion at Mumbai’s Chhatrapati Shivaji Maharaj International Airport and strengthen aviation capacity in western India. The project has been under development for several years and is considered one of India’s largest greenfield airport projects.

The company’s renewable energy business also expanded manufacturing capacity. Adani New Industries commissioned an additional 1.7 gigawatts of solar module production during June 2026, taking total module manufacturing capacity to 5.7 GW.

India has increased support for domestic solar manufacturing through production-linked incentive schemes and higher demand for locally produced equipment. The government is encouraging domestic production to reduce dependence on imported solar components while supporting its renewable energy targets. According to official government plans, India aims to achieve 500 GW of non-fossil fuel electricity capacity by 2030.

Although revenue from the new energy ecosystem slipped slightly to Rs 3,937 crore from Rs 4,035 crore, the company said domestic demand absorbed the entire output that would otherwise have been exported. EBITDA for the segment stood at Rs 972 crore.

The company’s wind turbine manufacturing business also received a Gold Medal for manufacturing competitiveness during the quarter.

AdaniConnex, AEL’s data centre business, secured a new hyperscale customer order for 400 megawatts in Visakhapatnam. This increased its committed capacity to more than 960 MW.

Demand for hyperscale data centres has grown rapidly as cloud computing providers, artificial intelligence applications and digital services require larger computing infrastructure. India has emerged as an important market because of rising internet usage, expanding digital payments and government support for data localisation in several sectors.

The company also handed over 9.6 MW of capacity at the second phase of its Pune facility, increasing operational capacity to 65.4 MW.

Copper operations made a significant contribution after capacity ramp-up. The business generated EBITDA of Rs 749 crore during the quarter, while copper sales increased more than fourfold to 64.7 kilotonnes from 11.5 kilotonnes a year earlier.

India imports a substantial share of its refined copper requirements. Domestic smelting capacity has become increasingly important as demand grows from electric vehicles, renewable energy equipment, power transmission and electronics manufacturing.

Road infrastructure also recorded progress. Toll collections began on the Ganga Expressway project from May 15, 2026, providing a fresh revenue stream. The company also added a new build-operate-transfer road project covering 620.6 lane kilometres between Indore and the Madhya Pradesh and Gujarat border.

Mining services expanded with the operational launch of the Dhirauli Mine contract in Madhya Pradesh. This increased the company’s peak operating mining service contract capacity to 93.1 million metric tonnes per annum.

In other operating figures, wind turbine deliveries rose 83 per cent to 64 units. Mining dispatches remained broadly stable at 11.8 million metric tonnes. Integrated Resource Management sales volumes declined 35 per cent to 8.3 million metric tonnes, while handling volumes increased 34 per cent to 6.9 million metric tonnes.

The company noted that depreciation increased following the capitalisation of Navi Mumbai International Airport in the previous quarter, thereby affecting profit before tax for the airport business. Previous financial figures have also been restated following the merger of businesses within the new energy ecosystem.

Adani Enterprises has gradually shifted from being primarily a trading business to becoming an infrastructure incubator that develops new ventures before scaling them into larger operating businesses. Several listed Adani Group companies, including Adani Ports and Special Economic Zone, Adani Energy Solutions and Adani Green Energy, originated from businesses first developed within AEL.

The latest quarterly results indicate that several of the company’s newer businesses are entering a stage in which completed projects are beginning to contribute more steadily to earnings. Airports, roads, renewable energy manufacturing, data centres and copper are expected to remain central to its long-term expansion plans as India continues to invest in transport, clean energy and digital infrastructure.