| Market Cap | ₹360,684 CrLarge Cap |
|---|---|
| Quarterly Revenue | ₹32,924 Cr49.9% YoY Growth |
| Promoter Holding | 71.97%Stable Stake |
| P/E TTM | 48.45Sector PE 37.74 |
| Order from | Jabil Inc. |
Key highlights
- Proposed 50:50 joint venture to manufacture and assemble AI racks, servers, storage, and networking equipment
- Targeting India's projected data centre capacity of 5-8 GW by 2030 and a $3 trillion global market opportunity
- Venture will include critical infrastructure like liquid-cooling systems, power distribution units, and transformers
- Project aligns with Adani Group's $100 billion commitment to develop 5 GW green-energy powered data centres
- Jabil brings 60 years of expertise and reported $36 billion in revenue for the 2026 fiscal year
Establishing India's AI Infrastructure Backbone
The proposed joint venture between Adani Enterprises and Jabil Inc. focuses on establishing a domestic manufacturing base for high-performance computing hardware. The product portfolio will encompass AI racks, servers, and storage solutions, alongside critical supporting infrastructure such as liquid-cooling systems and transformers.
This initiative directly supports Adani's broader energy and infrastructure strategy, moving the group from hosting AI infrastructure to manufacturing the critical systems that power it. The venture expects to achieve multi-gigawatt AI rack manufacturing capacity, positioning India as a primary hub for global AI hardware exports while serving accelerating domestic hyperscale demand.
Strategic Alignment and Market Dynamics
- The venture targets a global AI compute infrastructure market estimated at over $3 trillion over the next seven years
- India's domestic data centre capacity is forecasted to reach up to 8 gigawatts by 2030, driven by data localization and AI adoption
- Leverages recent policy support including the Union Budget 2026 tax holiday for data centres effective until 2047
- Builds on the strategic alliance intent originally announced by Adani Group and Jabil in June 2026
- Integrates Jabil's specialized acquisitions like Hanley Energy Group and Mikros Technologies for cooling and power management
Financial Context and Expanding JV Portfolio
Adani Enterprises continues to expand its ecosystem through high-value partnerships, following a ₹108,000 crore joint venture with International Resources Holding for an Odisha aluminium complex in July 2026. While the company reported a net loss of ₹1,160.23 crore for the quarter ended June 30, 2026, its operating revenue surged nearly 50% year-on-year to ₹32,923.98 crore. This hardware JV complements the 400 MW hyperscale order secured by AdaniConneX earlier this year.
The collaboration with Jabil, which reported $36 billion in fiscal 2026 revenue, aims to capitalize on $50 billion in planned hyperscaler spending across the cloud and AI ecosystems.
Chairman's Vision for the Intelligence Economy
The AI revolution will demand far more than just breakthroughs in algorithms. It will require an entire new industrial architecture where energy, hyperscale infrastructure, advanced computing and precision manufacturing converge to power the intelligence economy.
| Date | Announcement | Amount |
|---|---|---|
| 10 Jul 2026 | Partnership with Dioxycle to develop and scale low-carbon chemical manufacturing in IndiaSource: adanienterprises.com | – |
| 02 Jul 2026 | 50:50 joint venture with International Resources Holding (an IHC Group company) to develop an integrated greenfield aluminium complex in OdishaSource: adani.com | ₹108,000.00 Cr |
| 15 Jun 2026 | Strategic alliance with Jabil Inc. to establish an AI and data center infrastructure manufacturing platform in IndiaSource: adani.com | – |
| 14 Oct 2025 | Partnership between AdaniConneX and Google to develop an AI data centre campus in VisakhapatnamSource: adani.com | – |
| 11 Aug 2025 | Partnership between Adani Defence & Aerospace and Prime Aero via 50:50 JV Horizon Aero Solutions to acquire Indamer TechnicsSource: business-standard.com | – |
| 24 Jul 2025 | Joint venture agreements with MetTube Mauritius to co-develop copper tube manufacturing facilitiesSource: adanienterprises.com | – |
What to watch next
- Board meeting to consider Q2 FY27 financial results on October 28, 2026
- Shareholder postal ballot e-voting closing on October 23, 2026
- Execution of definitive agreements and regulatory approvals for the 50:50 joint venture
“At Adani, our vision is to expand up the AI value chain evolving from powering and hosting AI infrastructure to engineering and manufacturing the critical systems that will define the next generation of computing.”
“Integrating Jabil’s 60 years of engineering and manufacturing expertise with Adani’s significant infrastructure and energy capabilities, we can bring our rack-level data centre solutions to more hyperscalers in India and around the world.”
| Share price | ₹2665 |
|---|---|
| Market capitalisation | ₹3.61L Cr |
| Revenue (annual) | ₹1.00L Cr |
| Net profit (annual) | ₹9,339.47 Cr |
| Revenue (latest quarter) | ₹32,923.98 Cr+1.49% vs previous quarter |
| Net profit (latest quarter) | -₹1,160.23 Cr-425.68% vs previous quarter |
| P/E (TTM) | 48.45×Sector 37.74× |
| Promoter holding | 71.97%-2.87% QoQ |
| FII holding | 10.66%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Adani Enterprises announcing a non-binding MoU with Jabil Inc. for a 50:50 data centre hardware joint venture. Market figures from a third-party data provider.
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