key numbers
Adani Q1 FY27 Results Highlights
Adani Enterprises
Strong Quarter Reflects Scale Across New Businesses
Adani Enterprises (AEL) started FY27 on a strong note, reporting its highest-ever quarterly EBITDA of INR 5,642 crore, up 49% year-on-year, while total income grew 50% to INR 33,546 crore. The quarter reflected the growing scale of the company's incubation businesses, with Adani Airports reporting a 49% increase in EBITDA to INR 1,633 crore, while the Copper business contributed INR 749 crore in EBITDA as operations continued to ramp up. Excluding the one-time OFAC settlement, profit before tax stood at INR 1,295 crore. The quarter also marked several important business milestones. Adani Solar expanded its module manufacturing capacity to 5.7 GW with the commissioning of a new 1.7 GW production line, Navi Mumbai International Airport commenced international operations, and AdaniConnex secured a new 400 MW hyperscale data centre order, taking its committed capacity to over 960 MW. Toll collections also began on the Ganga Expressway, while the successful INR 15,000 crore Qualified Institutional Placement—the largest by a non-financial corporate in India—underscored strong investor confidence in the company's long-term growth strategy.
Adani Ports & Special Economic Zone
Growth Anchored by a Diversified Global Portfolio
Adani Ports and Special Economic Zone (APSEZ) delivered a strong start to FY27, with robust growth across its domestic and international businesses underscoring the strength of its integrated transport and logistics platform. Revenue increased 19% year-on-year to INR 10,821 crore, while EBITDA grew 19% to INR 6,541 crore. PAT rose 10% to INR 3,650 crore, supported by steady growth in domestic ports and strong contributions from its international operations and marine business.
During the quarter, APSEZ's international ports business recorded a significant improvement, with revenue increasing 80% and EBITDA rising 256%, driven by strong performances in Australia and Colombo. The marine business also reported 67% revenue growth, supported by fleet expansion and international projects. On the sustainability front, APSEZ became the first Indian transport company to publish a Taskforce on Nature-related Financial Disclosures (TNFD) report, while S&P Global Ratings upgraded its long-term issuer credit rating to 'BBB', reflecting the company's strong financial position and growing global presence.
Adani Power
Record Quarter Driven by Growing Power Demand
Higher electricity demand and increased operating capacity made Q1 FY27 the strongest quarter in Adani Power's history. Revenue increased 33% year-on-year to INR 19,322 crore, while EBITDA grew 36% to INR 8,369 crore. Profit before tax rose 50% to INR 6,300 crore, and profit after tax increased 47% to INR 4,867 crore, reflecting higher power sales and improved operating performance.
During the quarter, the company achieved its highest-ever quarterly power generation of 31 billion units and power dispatch of 28.8 billion units, while expanding its portfolio through the acquisition of key power assets from Jaiprakash Associates. Progress also continued on its capacity expansion programme towards 45 GW, alongside strong ESG performance with 93% ash utilisation and water consumption well below regulatory limits.
Adani Green Energy
Crossing the 20 GW Milestone
Adani Green Energy (AGEL) crossed a major milestone in Q1 FY27, taking its operational renewable energy capacity to 20.1 GW, a 27% increase over the previous year. Backed by this capacity addition, revenue from power supply grew 29% to INR 4,280 crore, while EBITDA rose 33% to a record INR 4,122 crore with an industry-leading 94% EBITDA margin. Cash profit also increased 28% to INR 2,225 crore, reflecting the company's continued operational strength.
The quarter also saw energy sales increase 30% to 13,657 million units, supported by new renewable capacity coming on stream. AGEL commissioned 1,972 MWh of battery energy storage capacity at Khavda, taking its total installed BESS capacity to 3,551 MWh, while remaining on track to expand its renewable and storage portfolio. The company also retained the highest CRISIL ESG score in the Indian power sector for the fifth consecutive year, underscoring its continued focus on sustainable growth.
Adani Energy Solutions
Accelerating Growth Through Scale and Innovation
Adani Energy Solutions (AESL) reported a strong performance in Q1 FY27, supported by growth across its transmission, distribution, smart metering and energy solutions businesses. Total income increased 40% year-on-year to INR 9,852 crore, while EBITDA reached a record INR 3,178 crore, up 58%. Profit after tax more than doubled to INR 1,237 crore, reflecting contributions from recently commissioned transmission projects and the continued expansion of its Energy Solutions Platform.
During the quarter, AESL crossed 13.44 million cumulative smart meter installations and announced the proposed acquisition of IntelliSmart, strengthening its smart metering portfolio. The company also maintained a INR 71,779 crore transmission project pipeline while improving its ESG ratings, reflecting continued progress across its core businesses and long-term growth initiatives.
Adani Total Gas
Expanding Clean Energy with Resilient Growth
Adani Total Gas (ATGL) continued its growth trajectory in Q1 FY27, with higher gas volumes and the steady expansion of its clean energy network supporting its performance. Revenue increased 27% year-on-year to INR 1,910 crore, while gas volumes rose 13% to 303 MMSCM. Despite higher gas procurement costs and a challenging global energy environment, the company reported EBITDA of INR 281 crore and PAT of INR 133 crore, reflecting resilient operations.
During the quarter, ATGL expanded its footprint to 707 CNG stations, crossed 11.41 lakh PNG household connections and scaled its EV charging network to 5,306 charging points across 26 states and Union Territories. The company also improved its CareEdge and CRISIL ESG ratings, reflecting continued progress in building a cleaner and more sustainable energy network.
ACC
Building Resilience Through Expansion
ACC began FY27 with a resilient performance despite a challenging operating environment marked by higher fuel costs and softer cement demand. The company reported revenue of INR 5,808 crore, Operating EBITDA of INR 457 crore and PAT of INR 147 crore, while maintaining healthy cash flows to support its ongoing expansion plans. Premium products continued to gain traction, accounting for 44% of trade sales, while the trade business grew to 81% of overall sales.
During the quarter, ACC made steady progress on its capacity expansion programme, with trial runs commencing at the 2.4 MTPA Salai Banwa grinding unit and expansion work progressing at Kalamboli. The proposed amalgamation with Ambuja Cements also moved forward, with regulatory approvals advancing towards the creation of the One Cement Platform. On the sustainability front, the company increased its green power share from 26% to 31%, while its blended cement portfolio received GreenPro and GRIHA certifications, reflecting continued progress towards more sustainable construction solutions.
Ambuja Cements
Steady Performance Backed by Cost Efficiency and Expansion
Ambuja Cements began FY27 with a steady performance, supported by cost optimisation initiatives and a continued focus on value-led growth. The company reported revenue of INR 9500 Crore, Operating EBITDA of INR 1589 crore and PAT of INR 660 crore. Despite higher fuel and logistics costs arising from geopolitical developments in West Asia, sequential cost reductions and improved operational efficiencies helped strengthen profitability during the quarter. The company also maintained its debt-free balance sheet, with cash and cash equivalents of INR 844 crore.
During the quarter, Ambuja continued to expand its manufacturing footprint, with trial production commencing at Dahej, Salai Banwa, Bathinda and Jodhpur, while remaining on track to increase cement capacity from 109 MTPA to 119 MTPA by the end of FY27. Renewable energy capacity also increased to 973 MW, taking the company's green power share to 34%. The quarter also marked another step in Ambuja's sustainability journey through its partnership with Leilac to advance low-carbon cement production, alongside GreenPro and GRIHA certifications for its blended cement portfolio.
Read the full press release here
(Compiled by Poonam Advani)