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) |
| · 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) |
ü Chennai Outer Ring Road, TOT project in the state of Tamil Nadu ü Palanpur-Radhanpur-Samkhayili NH-27, operational TOT project in the state of Gujarat ü Ganga Path extension Digha-Koilwar, HAM project in the state of Bihar |
| ESG Highlights |
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