Consolidated EBITDA at Rs. 16,464 cr
80% of EBITDA now generated from Core Infra-Utility portfolio and Mining Services
Consolidated financial highlights FY26 (YoY)
Business highlights Q4 FY26
HAM: Hybrid Annuity Model | TOT: Toll-Operate-Transfer
Ahmedabad, April 30, 2026: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, announced its results today for the quarter and year ended March 31, 2026.
With close of fiscal 2026, AEL has transitioned to a core infrastructure-led model, with 80% of its EBITDA coming from mature, long-term and contracted businesses, which significantly enhances earnings visibility. AEL's incubation journey has now firmly crossed milestones of initial capex-heavy and stabilization phases, with EBITDA-mix shifting towards stability, thus positioning the company for sustained cash generation and future value unlock.
Adani Enterprises has delivered yet another year of disciplined execution, stable EBITDA and continued momentum across our core infrastructure and incubation platforms said Mr Gautam Adani, Chairman of the Adani Group. What is particularly encouraging is that majority of the EBITDA is now led by our core infrastructure incubating businesses and stable mining services, reflecting the maturity and scale of our operating portfolio. FY26 has also been a year of decisive progress in building and making ready some of the large infra-assets of the Navi Mumbai International Airport, Guwahati Airport and the Ganga Expressway. As India's growth accelerates, we continue to focus on building and scaling globally competitive infrastructure businesses with our robust project pipeline.
Consolidated Financial Highlights
(Rs. in Crore)
| Particulars | Q4 FY25 | Q4 FY26 | % change Y-o-Y |
FY25 | FY26 | % change Y-o-Y |
|---|---|---|---|---|---|---|
| Total Income | 27,602 | 33,187 | 20% | 1,00,365 | 1,02,943 | 3% |
| EBITDA | 4,346 | 4,479 | 3% | 16,722 | 16,464 | (2%) |
| Exceptional Gain | 3,946 | - | - | 3,946 | 9,215 | - |
| Profit Before Tax | 5,259 | 729 | (86%) | 10,479 | 13,525 | 29% |
| Profit After Tax1 | 3,845 | (221)2 | - | 7,112 | 9,339 | 31% |
Note: 1. PAT attributable to owners | 2. Q4 FY26 results were affected by depreciation on recently commissioned assets of Navi Mumbai and Copper plant
Incubating Businesses Financial Highlights
| Particulars | Q4 FY25 | Q4 FY26 | % change Y-o-Y |
FY25 | FY26 | % change Y-o-Y |
|---|---|---|---|---|---|---|
| ANIL Ecosystem | ||||||
| Total Income | 3,661 | 5,168 | 41% | 14,236 | 15,563 | 9% |
| EBITDA | 1,110 | 1,173 | 6% | 4,776 | 4,532 | (5%) |
| PBT | 925 | 924 | - | 3,958 | 3,452 | (13%) |
| Airports | ||||||
| Total Income | 2,831 | 3,429 | 21% | 10,224 | 13,081 | 28% |
| EBITDA | 953 | 1,670 | 75% | 3,480 | 5,394 | 55% |
| PBT | (5) | 448 | - | (5) | 1,427 | - |
Operational Highlights
| Volume | Q4 FY25 | Q4 FY26 | % change Y-o-Y |
FY25 | FY26 | % change Y-o-Y |
|---|---|---|---|---|---|---|
| ANIL Ecosystem | ||||||
| Module Sales (MW) | 990 | 1464 | 48% | 4263 | 4904 | 15% |
| WTG (sets) | 60 | 102 | 70% | 164 | 231 | 41% |
| Airports | ||||||
| Pax movement (Mn) | 24.7 | 24.7 | - | 94.4 | 95.3 | 1% |
| ATMs ('000) | 157.8 | 158.3 | 623.8 | 619.0 | (1%) | |
| Cargo (Lacs MT) | 2.7 | 3.0 | 11% | 10.9 | 11.7 | 7% |
| Roads | ||||||
| Construction (L-KM) | 694.6 | 110.7 | (84%) | 2410.1 | 1451.7 | (40%) |
| Mining Services | ||||||
| Dispatch (MMT) | 14.0 | 16.1 | 15% | 43.3 | 49.4 | 14% |
| IRM | ||||||
| Volume (MMT) | 15.3 | 9.3 | (40%) | 56.5 | 44.6 | (21%) |
Business Updates
Adani New Industries (ANIL - Green Hydrogen Ecosystem)
AdaniConnex Pvt Ltd (ACX - Data Center)
Adani Airports Holdings Ltd (AAHL - Airports)
Adani Road Transport Ltd (ARTL - Roads)
ESG Highlights
About Adani Enterprises Ltd
Adani Enterprises Limited (AEL) is the flagship company of Adani Group, one of India's largest business organisations. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities. Having successfully built sizeable and scalable businesses like Adani Ports & SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the company has contributed to make India self-reliant with our robust businesses. This has also led to significant returns to our shareholders for three decades.
The next generation of its strategic business investments are centered around green hydrogen ecosystem, airport management, data center, roads and primary industries like copper and petrochem - all of which have significant scope for value unlocking.
For more information please visit www.adanienterprises.com
Roy Paul
Adani Group,
Corporate Communication
roy.paul@adani.com
Manan Vakharia
Adani Enterprises Ltd
Investor Relations
Tel: +91-79-25556140
mananj.vakharia@adani.com
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