Adani Enterprises Records 84% Profit Growth with Rs 25,000 Crore Rights Issue Approval for Infrastructure Expansion

The company board approved raising Rs 25,000 crore through a rights issue

Adani Enterprises, the flagship company of Adani Group, reported an impressive 84 percent increase in profit for the September quarter, primarily attributed to a one-time exceptional income. Without this extraordinary gain, the core earnings actually declined due to weakness in its primary coal trading division.

The consolidated net profit reached Rs 3,199 crore during July-September—the second quarter of the 2025-26 financial year—compared to Rs 1,742 crore in the corresponding period last year, according to a company statement.

This profit boost was largely due to a one-time gain of Rs 3,583 crore from selling its 13.51 percent stake in AWL Agri Business Ltd (formerly Adani Wilmar Ltd). Excluding this exceptional item, the adjusted profit actually decreased by 66.2 percent to Rs 814.35 crore from Rs 2,408.89 crore a year earlier.

In a significant move, the company board approved raising Rs 25,000 crore through a rights issue from existing shareholders to fund its extensive expansion across infrastructure projects, including airports and clean energy initiatives.

This represents the company's largest fundraising effort since the cancellation of a fully subscribed Rs 20,000 crore follow-on public offering in 2023, which occurred after the release of a critical report by US short seller Hindenburg Research.

Adani Enterprise experienced a decline in EBITDA due to reduced volumes and prices in coal trading. The lower coal trading volume was partially attributed to decreased consumption in coal-fired power plants, as monsoon conditions and growing renewable energy generation diminished demand.

Revenue from coal trading fell 29 percent to Rs 6,843 crore while pre-tax profit dropped 22 percent to Rs 726 crore. This decline outweighed growth in the company's emerging new energy and airport segments.

The new energy unit, encompassing solar manufacturing and wind turbine businesses, recorded a modest 3 percent increase in revenue and 5 percent in pre-tax profit. Meanwhile, the airport division demonstrated remarkable performance with a 39 percent jump in revenue and 43 percent increase in pre-tax profit.

Adani Enterprises' consolidated revenue from operations decreased to Rs 21,844 crore in the second quarter from Rs 23,196 crore in the previous year.

The company highlighted its core strength in timely execution of large-scale projects during the quarter, completing both the greenfield Navi Mumbai airport and its seventh road project.

The emerging core infrastructure businesses recorded a half-yearly EBITDA of Rs 5,470 crore, representing a 5 percent year-on-year increase, now contributing 71 percent to total EBITDA.

"With disciplined execution and strategic diversification, Adani Enterprises Ltd continues to strengthen its position as India's leading incubator of transformative infrastructure and energy businesses," stated Gautam Adani, Chairman of the Adani Group.

"Our strong performance across airports, data centres and roads underscore the momentum of our core infrastructure portfolio." He added that partnerships such as the one with Google for India's largest AI data centre and progress in the green energy ecosystem are accelerating India's transition toward a sustainable, technology-driven future.

"We remain committed to building globally competitive businesses that create enduring value for our stakeholders and strengthen the foundation of a self-reliant India."

While solar module sales increased by 9 percent in Q2, wind turbine generators experienced an impressive 87 percent growth in volumes. Adani airports handled 22.6 million passengers during the quarter. Road construction more than doubled to 456.1 line kilometres, but coal volumes decreased by 17 percent to 11.3 million tonnes in Q3.

"Module sales continue to track to 1 GW per quarter, domestic sales increased by 43 percent during H1, FY26 on a year-on-year basis," the company stated, adding that construction of an additional 6 GW cell and module line was progressing according to schedule.

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