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Adani Enterprises Ltd announces Q4 and FY26 results

Ahmedabad

30 April 2026

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)

  • Total Income increased by 3% to Rs. 1,02,943 cr
  • EBITDA maintained at Rs. 16,464 cr
  • PBT at Rs. 4,309 cr excluding exceptional gain of Rs. 9,215 cr on sale of AWL stake and of cement units to Ambuja Cements Ltd
  • Core infra incubating businesses and mining services contribute 80% of EBITDA

Business highlights Q4 FY26

  • India’s largest greenfield Ganga Expressway inaugurated on 29th April 2026, was completed in a record time of less than 3.5 years
  • Three new projects added in Road business including one HAM and two TOT projects
  • Adani Wind (ANIL) only Indian company in Top 15 global wind turbine manufacturers
  • AdaniConnex handed over phase-II capacity of 4.8 MW data center at Hyderabad to customer, taking operational capacity to 55+ MW

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)

  • Adani Wind under ANIL is the only Indian company to feature in Bloomberg NEF Global Top 15 wind turbine manufacturers list
  • Domestic solar module sales surge 95% to 1459 MW during the quarter on Y-o-Y basis

AdaniConnex Pvt Ltd (ACX - Data Center)

  • Received new hyperscale order for 358 MW in Hyderabad, taking cumulative tied-up capacity to 560+ MW
  • Hyderabad data center phase II 4.8 MW capacity is now operational, and total operational capacity is 55+ MW from four data centers

Adani Airports Holdings Ltd (AAHL - Airports)

  • Aero and non‑aero revenue delivered robust YoY growth of 26% and 31% respectively in FY26
  • During the quarter 3 new routes and 20 new flights added

Adani Road Transport Ltd (ARTL - Roads)

  • Added three new road projects, taking total projects tally to 20 projects
    • Chennai Outer Ring Road, TOT project in the state of Tamil Nadu
    • Palanpur-Radhanpur-Samkhayili NH-27, operational TOT project in the state of Gujarat
    • Ganga Path extension Digha-Koilwar, HAM project in the state of Biha

ESG Highlights

  • AEL is assigned ESG rating score of 83 by CareEdge ESG Ratings which denotes a “Leadership” category in managing ESG risk through best-in-class disclosures, policies and performance

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