Adani Enterprises Ltd.Record EBITDA Signals Value Realization

Adani Enterprises delivered a landmark quarter with record EBITDA of ₹5,642 crores, up 49% year-on-year, signaling a strategic shift from build-out to value realization phase.

Total income surged 50% to ₹33,546 crores, primarily driven by the copper smelter ramping up to 52% utilization. The airport segment demonstrated exceptional performance with EBITDA growing 49% to ₹1,633 crores on total income of ₹3,763 crores, while non-aero revenue jumped 53% despite just 4% passenger growth. Management successfully completed India's largest non-financial corporate QIP raising ₹15,000 crores at 4x oversubscription.

Key asset commercializations progressed with Ganga Expressway toll collections commencing and Navi Mumbai international operations launching in July. The data center business signed 400 MW new capacity, taking total commitments to 1 GW with a 3 GW target by 2030. Solar manufacturing capacity expansion remains on track to reach 10 GW by end-FY27. Management outlined clear pathways for accelerated value creation over coming quarters, primarily led by airports and roads, while maintaining FY27 as one of the highest capex years.