Revenue from operations: ₹2,109.65 crore (vs. ₹1,576.38 crore in Q2 FY26, +34% YoY)
Total income: ₹2,123.66 crore (vs. ₹1,585.07 crore in Q2 FY26)
Profit before tax: ₹241.76 crore (vs. ₹218.93 crore in Q2 FY26, +10% YoY)
Profit for the period: ₹173.27 crore (vs. ₹163.49 crore in Q2 FY26, +6% YoY)
Total comprehensive income: ₹198.35 crore (vs. ₹166.22 crore in Q2 FY26)
Basic & diluted EPS: ₹1.58 (vs. ₹1.49 in Q2 FY26)
Half Year Ended September 30, 2026 (H1 FY27):
Revenue from operations: ₹4,016.44 crore (vs. ₹3,074.70 crore in H1 FY26, +31% YoY)
Total income: ₹4,043.43 crore (vs. ₹3,091.50 crore in H1 FY26)
Profit before tax: ₹428.66 crore (vs. ₹441.22 crore in H1 FY26, -3% YoY)
Profit for the period: ₹314.99 crore (vs. ₹328.73 crore in H1 FY26, -4% YoY)
Total comprehensive income: ₹339.49 crore (vs. ₹329.39 crore in H1 FY26)
Basic & diluted EPS: ₹2.86 (vs. ₹2.99 in H1 FY26)
Key Financial Figures (Standalone)
Quarter Ended September 30, 2026 (Q2 FY27):
Revenue from operations: ₹2,102.09 crore (vs. ₹1,569.03 crore in Q2 FY26, +34% YoY)
Total income: ₹2,116.11 crore (vs. ₹1,578.17 crore in Q2 FY26)
Profit before tax: ₹235.37 crore (vs. ₹217.12 crore in Q2 FY26, +8% YoY)
Profit for the period: ₹166.88 crore (vs. ₹161.68 crore in Q2 FY26, +3% YoY)
Total comprehensive income: ₹191.97 crore (vs. ₹164.68 crore in Q2 FY26)
Basic & diluted EPS: ₹1.52 (vs. ₹1.47 in Q2 FY26)
Half Year Ended September 30, 2026 (H1 FY27):
Revenue from operations: ₹3,998.83 crore (vs. ₹3,060.47 crore in H1 FY26, +31% YoY)
Total income: ₹4,026.28 crore (vs. ₹3,078.13 crore in H1 FY26)
Profit before tax: ₹413.58 crore (vs. ₹436.34 crore in H1 FY26, -5% YoY)
Profit for the period: ₹299.91 crore (vs. ₹323.85 crore in H1 FY26, -7% YoY)
Total comprehensive income: ₹324.42 crore (vs. ₹324.78 crore in H1 FY26)
Basic & diluted EPS: ₹2.73 (vs. ₹2.94 in H1 FY26)
Management Changes
Cessation:
Mr. Suresh P. Manglani (DIN: 00165062) ceased as Executive Director and Key Managerial Personnel upon superannuation, effective close of business hours on October 31, 2026.
The Board placed on record its appreciation for his contributions.
Appointment:
Mr. Sanjay Pandita (DIN: 11929763), currently Chief Executive Officer and KMP, appointed as Additional Director and Whole-time Director designated as Executive Director effective November 1, 2026, for a term of three years, subject to shareholder approval.
Consequent to this appointment, Mr. Pandita will be designated as "Executive Director and Chief Executive Officer (Key Managerial Personnel)" from November 1, 2026.
Confirmation provided that Mr. Pandita is not debarred from holding director office by virtue of any SEBI or other authority order.
Updated Key Managerial Personnel (Effective November 1, 2026)
Mr. Sanjay Pandita: Executive Director & Chief Executive Officer (Email: investor.agl@adani.com)
Mr. Preyash Jhaveri: Chief Financial Officer (Phone: 079-66243200)
Mr. Anil Agrawal: Company Secretary & Compliance Officer
Auditor's Review Report
Walker Chandiok & Co LLP conducted limited review of both standalone and consolidated financial results.
For consolidated results, the auditors did not review interim financial results of two subsidiaries (total assets: ₹371.54 crores as of September 30, 2026; total revenues: ₹7.56 crores for quarter and ₹17.60 crores for half year; total net loss after tax: ₹2.07 crores for quarter and ₹2.92 crores for half year).
The consolidated results also include the Group's share of net profit after tax of ₹11.26 crores for quarter and ₹19.85 crores for half year from two joint ventures whose results were not reviewed by the auditor.
The auditor's conclusion is based on review reports of other auditors for these entities.
Legal and Regulatory Matters
The company signed a Definitive Agreement on November 3, 2020, for acquisition of 3 Geographical Areas (Ludhiana, Jalandhar, and Kutch East). Authorization for Jalandhar was transferred to the company by PNGRB during FY25. Parties signed a joint letter to enable closure of acquisition at GA level during the current quarter, but the transaction is yet to be consummated.
Supreme Court disposed of an appeal on September 28, 2021, regarding deemed authorization for Sanand, Bavla and Dholka. The company has sought directions from PNGRB for compliance. No financial impact considered.
The company has filed an appeal at APTEL challenging PNGRB orders dated April 25-26, 2023, regarding authorization rejection for Noida District GA and bifurcation of Faridabad GA. The matter is pending.
Regarding US DOJ indictment and US SEC civil complaint against a non-executive director, the matters have been concluded with final judgments entered on August 10, 2026. The director paid civil monetary penalty, and all charges were dropped with prejudice. The company was not named in these matters, and no financial impact on the company.
Capital Structure
Paid-up equity share capital: ₹109.98 crore (109.98 crore shares of face value ₹1 each)
Consolidated other equity: ₹5,066.82 crore as of September 30, 2026 (vs. ₹4,754.83 crore as of March 31, 2026)
Standalone other equity: ₹5,010.95 crore as of September 30, 2026 (vs. ₹4,714.03 crore as of March 31, 2026)
