- RECORD HALF-YEAR PERFORMANCE: EBITDA climbs 56% to ₹11,958 crore, while revenue rises to ₹71,569 crore in H1 FY27.
- QUARTERLY GROWTH ACCELERATES: Q2 revenue jumps 74% to ₹38,023 crore and EBITDA increases 62% to ₹6,316 crore.
- GREEN ENERGY GAINS SCALE: ANIL solar module manufacturing capacity reaches 10 GW following commissioning of a 4.3-GW TOPCon line.
- AI INFRASTRUCTURE EXPANDS: AdaniConnex secures a 240-MW hyperscale data-centre order in Navi Mumbai, taking cumulative tied-up capacity beyond 1.2 GW.
- COPPER OPERATIONS RAMP UP: Half-yearly copper sales volume increases 5.2-fold as the conglomerate advances its next-generation infrastructure businesses.
NE BUSINESS BUREAU
AHMEDABAD, OCT 29
Can record earnings growth, expanding renewable-energy manufacturing and rising demand for AI infrastructure reshape the next phase of a diversified infrastructure conglomerate? Adani Enterprises Ltd (AEL), the Adani Group’s flagship company, has reported its highest-ever half-yearly EBITDA of ₹11,958 crore for H1 FY27, reflecting a 56% year-on-year increase as revenue surged 62% to ₹71,569 crore.
For the quarter ended September 30, 2026, consolidated revenue rose 74% to ₹38,023 crore, while EBITDA increased 62% to ₹6,316 crore. Profit before tax (PBT) from continuing operations, excluding the one-time OFAC settlement, rose 45% to ₹3,297 crore for the first half and 146% to ₹2,002 crore in Q2.
The company attributed the stronger operating performance to maturing investments, expanding business capacities and the ramp-up of newly commissioned facilities, particularly in copper and renewable-energy manufacturing.
However, profit after tax attributable to owners declined 92% to ₹332 crore in H1 FY27, against ₹4,189 crore a year earlier. The company’s results include a ₹2,644-crore exceptional item relating to a one-time OFAC settlement in Q1 FY27.
‘The scale of our ambitions must continuously grow’
Gautam Adani, Chairman of the Adani Group, said: “We live in an age of such intense disruption that the scale of our ambitions must continuously grow.”
“What Adani Enterprises has become very effective at is turning increasingly large and complex commitments into execution at scale across our businesses. Our investments in integrated energy, airports and AI ecosystems are recent examples,” he said.
Highlighting investor confidence and India’s growth prospects, he added: “We remain bullish on India’s future and, therefore, confident in our own growth story.”
Solar manufacturing capacity reaches 10 GW
Adani New Industries Ltd (ANIL) completed the expansion of its solar module manufacturing capacity to 10 GW by commissioning a 4.3-GW TOPCon module line in September 2026. Construction of an additional 6-GW solar cell line is progressing as scheduled.
ANIL’s H1 module sales increased 15% to 2,818 MW, although its half-yearly EBITDA declined 13% to ₹2,066 crore.
Data-centre expansion strengthens AI ambitions
AdaniConnex secured a new 240-MW hyperscale order for its Navi Mumbai data centre, taking cumulative tied-up capacity beyond 1.2 GW.
Its operational capacity reached 94.6 MW during the quarter, with 10 MW handed over to customers in Noida and another 19.2 MW in Pune.
Copper business delivers a sharp volume jump
Copper operations continued to ramp up, with H1 sales volume rising 5.2-fold to 145.3 kilotonnes from 23.3 kilotonnes a year earlier. The copper business contributed ₹2,033 crore to EBITDA, supporting the company’s half-yearly earnings growth.
AEL also received a long-term credit rating upgrade to AA/Stable from CARE Ratings, its highest rating in the company’s history.
With investments spanning new energy, airports, data centres, copper and other infrastructure businesses, AEL is seeking to convert capacity expansion into sustained operating growth. The trajectory ahead will depend on execution, demand, profitability and the ability of these investments to generate consistent returns