Consolidated financial highlights H1 FY26 (YoY)
Investment highlights
Asset Completed
New Investments
Capital management
Ahmedabad, November 04, 2025: 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) |
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| AdaniConnex Pvt Ltd (ACX - Data Center) |
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MEP: Mechanical, Electrical & Plumbing
| Adani Water Ltd (AWL - Water) |
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| Adani Airports Holdings Ltd (AAHL - Airports) |
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| Adani Road Transport Ltd (ARTL - Roads) |
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| ESG Highlights |
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