Adani Enterprises Ltd (ADANIENT), the flagship incubator for the Adani Group, has announced its financial results for the nine months ended December 31, 2025 (9M FY26), reporting a significant period of operational execution and strategic growth. The company achieved a consolidated EBITDA of Rs. 11,985 crore, reflecting a resilient performance across its diverse infrastructure portfolio.
Financial Highlights and Capital Market Success
For the 9M FY26 period, AEL reported revenues of Rs. 69,756 crore. The company’s Profit After Tax (PAT) attributable to owners saw a remarkable 193% year-on-year increase, reaching Rs. 9,560 crore. This surge was bolstered by an exceptional gain of Rs. 9,215 crore resulting from the sale of stakes in Adani Wilmar Ltd (AWL) and the transfer of cement units to Ambuja Cements Ltd. The company also demonstrated strong support from capital markets, successfully raising Rs. 24,930 crore through a Rights Issue that was oversubscribed by 30%. Additionally, AEL raised Rs. 1,000 crore via its third public issue of Non-Convertible Debentures (NCDs) in January 2026.
Operational Landmarks: Airports and Infrastructure
A primary highlight of the period was the commencement of operations at the greenfield Navi Mumbai International Airport on December 25, 2025. The airport, which completed Phase I with a capacity of 20 million passengers per annum, was operationalized in less than five years after its acquisition.
Other key achievements in the airport and transport sectors include:
• Adani Airports (AAHL): The division’s nine-month EBITDA surpassed its full-year EBITDA for FY25 by 7%. Passenger movement reached 70.6 million for the nine-month period.
• Roads (ARTL): Two new Hybrid Annuity Model (HAM) road projects—the Vijayawada Bypass in Andhra Pradesh and the Badakumari Karki project in Odisha—were operationalized, bringing the total number of operational projects to nine.
• Guwahati Airport: Inaugurated a new integrated terminal building.
Advancing Global Solar and Data Center Leadership
AEL’s “incubator model” continues to scale high-growth businesses in the technology and green energy sectors:
• Adani Solar (ANIL): Featured as the only Indian company in the Top 10 global solar manufacturers. Domestic solar module sales surged 40% year-on-year during the quarter, with total sales tracking over 1 GW per quarter.
• AdaniConnex (ACX): The data center business operationalized an additional 14.4 MW of capacity (across Pune and Hyderabad), bringing its total operational capacity to over 50 MW.
Strategic Vision and Sustainability
Gautam Adani, Chairman of the Adani Group, noted that the results reflect the strength of the company’s incubator model and its commitment to building “nationally critical assets at scale and speed”. He emphasized that AEL is well-positioned to support India’s advancement toward a $5 trillion economy through technological leadership and sustainable value creation. AEL also achieved significant recognition for its environmental efforts, receiving the highest leadership rating of “A” from the Carbon Disclosure Project (CDP) for both Water Security and Climate Change, underscoring its commitment to lowering greenhouse gas emissions and improving environmental impact.