Adani Enterprises Ltd announces H1 FY26 results
Newzdaddy Business Updates
Consolidated EBITDA at Rs. 7,688 cr
Consolidated PBT at Rs. 2,281 cr
AEL Board approves Rights Issue of Rs.25,000 cr
| Editor’s Synopsis
Consolidated financial highlights H1 FY26 (YoY) · Revenue at Rs. 44,281 cr · EBITDA at Rs. 7,688 cr · PBT at Rs. 2,281 cr excluding exceptional gain of Rs. Rs. 3,583 cr · AAHL Airports EBITDA increased by 51% YoY to Rs. 2,157 cr; with Airports business now tracking at quarterly run-rate of Rs. 1,000+ crore
Investment highlights Asset Completed · Greenfield Navi Mumbai International Airport inaugurated on 08th October 2025, set to commence operations from Q3 FY26 · Received PCOD for Nanasa-Pidgaon project; AEL now has 7 operational road assets New Investments · Received LoA for three projects in Roads and two projects in Water business with cumulative order book of Rs. 19,982 cr · AdaniConnex partners with Google to develop India’s largest AI Data Center campus in Visakhapatnam
Capital management · AEL Board approves partly paid-up Rights Issue of Rs.25,000 cr for strengthening its balance sheet further to support next phase of incubation |
Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, announced its results today for the quarter and half year ended September 30, 2025.
AEL has validated its core strength of timely execution of large-scale projects during the quarter. The inauguration of greenfield Navi Mumbai airport and completion of its 7th road project reflects AEL’s fundamental focus on incubation at scale and execution. Each of these new milestones strengthens our diversified model and reaffirms our commitment to deliver infrastructure of national importance. The emerging core infra businesses have recorded half-yearly EBITDA of Rs. 5,470 crore with an increase of 5% on year-on-year basis and now contributes 71% to total EBITDA.
“With disciplined execution and strategic diversification, Adani Enterprises Ltd continues to strengthen its position as India’s leading incubator of transformative infrastructure and energy businesses,” said Mr Gautam Adani, Chairman of the Adani Group. “The inauguration of the Navi Mumbai International Airport marks a defining moment in India’s infrastructure story and reinforces AEL’s role as a national growth catalyst. Our strong performance across airports, data centers and roads underscore the momentum of our core infrastructure portfolio. With partnerships such as the one with Google for India’s largest AI data center and rapid progress in our green energy ecosystem, AEL is accelerating India’s transition toward a sustainable, technology-driven future. We remain committed to building globally competitive businesses that create enduring value for our stakeholders and strengthen the foundation of a self-reliant India.”
Consolidated Financial Highlights
(Rs. in crore)
| Particulars | Q2 FY25 | Q2 FY26 | % change Y-o-Y | H1 FY25 | H1 FY26 | % change Y-o-Y | |
| Total Income | 23,196 | 21,844 | (6%) | 49,263 | 44,281 | (10%) | |
| EBITDA | 4,354 | 3,902 | (10%) | 8,654 | 7,688 | (11%) | |
| Exceptional Gain | – | 3,583 | – | – | 3,583 | – | |
| Profit Before Tax | 2,409 | 4,398 | 83% | 4,644 | 5,864 | 26% | |
| Profit After Tax1 | 1,742 | 3,199 | 84% | 3,196 | 3,933 | 23% |
Note: 1. PAT attributable to owners
Incubating Businesses Financial Highlights
| Particulars | Q2 FY25 | Q2 FY26 | % change Y-o-Y | H1 FY25 | H1 FY26 | % change Y-o-Y | |
| ANIL Ecosystem | |||||||
| Total Income | 3,115 | 3,199 | 3% | 7,634 | 7,233 | (5%) | |
| EBITDA | 1,121 | 1,172 | 5% | 2,763 | 2,384 | (14%) | |
| PBT | 916 | 876 | (4%) | 2,341 | 1,836 | (22%) | |
| Airports | |||||||
| Total Income | 2,276 | 3,167 | 39% | 4,453 | 5,882 | 32% | |
| EBITDA | 744 | 1,062 | 43% | 1,426 | 2,157 | 51% | |
| PBT | (148) | 99 | – | (237) | 303 | – | |
Operational Highlights
| Volume | Q2 FY25 | Q2 FY26 | % change Y-o-Y | H1 FY25 | H1 FY26 | % change Y-o-Y | |
| ANIL Ecosystem | |||||||
| Module Sales (MW) | 1001 | 1093 | 9% | 2380 | 2443 | 3% | |
| WTG (Sets) | 15 | 28 | 87% | 56 | 63 | 13% | |
| Airports | |||||||
| Pax movement (Mn) | 22.3 | 22.6 | 1% | 45.1 | 46.0 | 2% | |
| ATMs (‘000) | 153.3 | 148.2 | (3%) | 305.4 | 301.7 | (1%) | |
| Cargo (Lacs MT) | 2.8 | 2.9 | 3% | 5.5 | 5.7 | 4% | |
| Roads | |||||||
| Construction (L-KM) | 180.4 | 456.1 | 153% | 910.4 | 949.3 | 4% | |
| Mining Services | |||||||
| Dispatch (MMT) | 8.2 | 10.5 | 27% | 17.5 | 22.6 | 29% | |
| IRM | |||||||
| Volume (MMT) | 13.7 | 11.3 | (17%) | 29.1 | 24.1 | (17%) | |
Business Updates
| Adani New Industries (ANIL – Green Hydrogen Ecosystem) |
· Construction for additional 6 GW cell and module lines progressing as per schedule · ANIL Wind division honored with “Gold Award” at Apex India Safety Award 2025 |
MEP: Mechanical, Electrical & Plumbing
| Adani Water Ltd (AWL – Water) |
| · Letter of Award received for two new projects; o Build and manage Brahmani Barrage across Brahmani River o Build and manage Mor Sagar Artificial Reservoir |
| Adani Road Transport Ltd (ARTL – Roads) |
| · Provisional COD received for HAM project “Nanasa-Pidgaon” in the state of Madhya Pradesh; making it 7th operational project · Letter of Award received for three new projects; o Ropeway project between Sonprayag and Kedarnath of 12.9 KM length o Two HAM Road projects connecting Munger-Sultanganj and Sultanganj-Sabour Road |
| ESG Highlights |
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