Adani Enterprises Limited (AEL) submitted revised unaudited financial results for Q2 and H1 FY27 ending September 30, 2026, to BSE Limited and National Stock Exchange of India Limited. The document was signed by Jatin Jalundhwala, Company Secretary & Joint President (Legal), and uploaded to the company's website.

Consolidated Financial Highlights (H1 FY27 vs H1 FY26)

  • Total Income: ₹71,569 crore (up 62% YoY from ₹44,281 crore)
  • EBITDA: ₹11,958 crore (up 56% YoY from ₹7,688 crore) - highest-ever half-yearly EBITDA
  • Continuing Profit Before Tax: ₹3,297 crore (up 45% YoY from ₹2,281 crore)
  • Exceptional Item: (₹2,644) crore related to one-time OFAC settlement during Q1 FY27
  • Profit After Tax (attributable to owners): ₹332 crore (down 92% YoY from ₹4,189 crore)

Consolidated Financial Highlights (Q2 FY27 vs Q2 FY26)

  • Total Income: ₹38,023 crore (up 74% YoY from ₹21,844 crore)
  • EBITDA: ₹6,316 crore (up 62% YoY from ₹3,902 crore)
  • Profit Before Tax: ₹2,002 crore (up 146% YoY from ₹814 crore)
  • Profit After Tax (attributable to owners): ₹1,492 crore (down 55% YoY from ₹3,304 crore)

Incubating Businesses Financial Performance

ANIL Ecosystem (New Energy):

  • H1 FY27 Total Income: ₹7,606 crore (up 5% YoY)
  • H1 FY27 EBITDA: ₹2,066 crore (down 13% YoY)
  • H1 FY27 PBT: ₹1,454 crore (down 21% YoY)
  • Q2 FY27 Total Income: ₹3,669 crore (up 15% YoY)
  • Q2 FY27 EBITDA: ₹1,094 crore (down 7% YoY)
  • Q2 FY27 PBT: ₹826 crore (down 6% YoY)

Airports:

  • H1 FY27 Total Income: ₹7,549 crore (up 28% YoY)
  • H1 FY27 EBITDA: ₹3,275 crore (up 52% YoY)
  • H1 FY27 PBT: (₹484) crore (reflecting higher depreciation from Navi Mumbai Airport capitalization)
  • Q2 FY27 Total Income: ₹3,786 crore (up 20% YoY)
  • Q2 FY27 EBITDA: ₹1,641 crore (up 55% YoY)
  • Q2 FY27 PBT: (₹290) crore

Operational Highlights

ANIL Ecosystem:

  • Module Sales: 2,818 MW in H1 FY27 (up 15% YoY); 1,478 MW in Q2 FY27 (up 35% YoY)
  • WTG Sales: 99 sets in H1 FY27 (up 57% YoY); 35 sets in Q2 FY27 (up 25% YoY)

Airports:

  • Passenger Movement: 45.4 million in H1 FY27 (down 1% YoY); 21.2 million in Q2 FY27 (down 6% YoY)
  • ATMs: 302,300 in H1 FY27 (flat YoY); 141,900 in Q2 FY27 (down 4% YoY)
  • Cargo: 6.2 lakh MT in H1 FY27 (up 9% YoY); 3.2 lakh MT in Q2 FY27 (up 11% YoY)

Mining Services:

  • Dispatch: 22.5 MMT in H1 FY27 (flat YoY); 10.7 MMT in Q2 FY27 (up 2% YoY)

Copper:

  • Sales Volume: 145.3 KT in H1 FY27 (5.2x increase YoY); 80.6 KT in Q2 FY27 (5.8x increase YoY)
  • Contributed ₹2,033 crore to EBITDA during ramp-up phase

IRM (Integrated Resources Management):

  • Sales Volume: 15.7 MMT in H1 FY27 (down 35% YoY); 7.4 MMT in Q2 FY27 (down 34% YoY)
  • Handling Volume: 13.0 MMT in H1 FY27 (up 37% YoY); 6.0 MMT in Q2 FY27 (up 41% YoY)

Business Updates

Adani New Industries (ANIL - New Energy Ecosystem):

  • Completed solar module capacity expansion to 10 GW by commissioning 4.3 GW TopCon capacity in September 2026
  • Construction for additional 6 GW cell line progressing as per schedule

AdaniConnex Pvt Ltd (ACX - Data Center):

  • Secured new hyperscale order of 240 MW for Navi Mumbai data center
  • Cumulative tied-up capacity now exceeds 1.2 GW
  • Operational capacity increased to 94.6 MW during the quarter
  • Handed over 10 MW in Noida and 19.2 MW in Pune to customers

Credit Rating Update

  • AEL received long-term credit rating upgrade to AA/Stable from CARE Ratings
  • This represents the highest credit rating in the company's history

Management Commentary

Mr. Gautam Adani, Chairman of the Adani Group, stated that the strong EBITDA growth reflects maturity of investments made over past years, with multiple businesses reaching scale. He emphasized the company's execution capabilities in turning large commitments into scalable businesses across integrated energy, airports, and AI ecosystems. The company remains bullish on India's growth story and its positioning to capture emerging opportunities.