| PE TTM | 45.27Sector PE 36.37 |
|---|---|
| Market Cap | ₹3,36,999 CrLarge Cap |
| RSI | 31.17Near Oversold |
| Promoter Holding | 71.97%Quarter Ending Sep-26 |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 37,216 | 32,924 | 21,248 |
| Other Income | 808 | 622 | 596 |
| Total Income | 38,023 | 33,546 | 21,844 |
| Profit Before Tax | 2,002 | -1,349 | 4,398 |
| Exceptional Items | 0.0 | -2,644 | 3,583 |
| Net Profit | 1,221 | -1,462 | 3,414 |
| Operating Margin | 5.3% | -4.0% | 20.1% |
| Net Profit QoQ | +183.5% | ||
| Net Profit YoY | -64.2% | ||
| Adj. Profit QoQ | +77.7% | ||
| Adj. Profit YoY | +445.9% | ||
Key highlights
- Revenue from operations grew 75.1% YoY to ₹37,216 crore in Q2 FY27
- Net profit stood at ₹1,221 crore, rebounding from a loss in the previous quarter
- Completed a landmark ₹15,000 crore QIP at an issue price of ₹2,883 per share
- Copper segment revenue surged to ₹14,772 crore from ₹1,359 crore in Q2-26
- SEBI disposed of show cause notices related to short seller allegations with no penalties
- Consolidated total income for the half-year ended September 2026 reached ₹71,569 crore
- Integrated Resources Management segment contributed ₹7,097 crore to quarterly revenue
Copper and IRM Drive Robust Revenue Growth
Adani Enterprises witnessed significant scale expansion as revenue from operations jumped 75% year-on-year to ₹37,216 crore. This growth was primarily fueled by the Copper segment, which generated ₹14,772 crore in the quarter, compared to just ₹1,359 crore in the same period last year. The Integrated Resources Management (IRM) business remained a major contributor with revenue of ₹7,097 crore.
Operating margins improved to 5.3% from a negative 4.0% in the preceding quarter. Total income for the quarter reached ₹38,023 crore, reflecting the impact of diversifying infrastructure and commodity trading businesses on the company's consolidated top line.
Qualified Institutional Placement and Capital Structure
During the quarter ended September 30, 2026, the company strengthened its capital base by completing a ₹15,000 crore Qualified Institutional Placement (QIP). The allotment included 5.20 crore equity shares at ₹2,883 each, including a premium of ₹2,882 per share. This major capital infusion follows a rights issue in the previous year that raised ₹24,930.30 crore.
The management noted there was no deviation in the use of proceeds from the objects stated in earlier offers. Net worth at the end of the half-year climbed to ₹1,03,713.28 crore, supporting the group's ongoing aggressive investments in new energy and data centers.
Segment Performance Breakdown
- Copper revenue surged nearly 11x YoY to ₹14,772.36 crore
- New Energy Ecosystem revenue reached ₹3,571.78 crore
- Airport segment revenue grew to ₹3,698.41 crore for the quarter
- Commercial Mining activities generated ₹2,489.46 crore
- Integrated Resources Management revenue stood at ₹7,096.99 crore
- Road segment contributed ₹430.07 crore to the total revenue mix
Regulatory Updates and Legal Proceedings
The company reported significant progress on regulatory fronts, noting that SEBI concluded its investigations into various show cause notices related to allegations from the 2023 short-seller report. These proceedings were closed with no penalties following settlement orders in late September 2026. Separately, the company addressed ongoing legal proceedings involving its subsidiary, Mumbai International Airport Limited (MIAL), regarding alleged fund misuse of ₹845.76 crore prior to 2020.
Based on legal counsel, MIAL management believes the allegations are not conclusive, and no adjustments have been made to the financial results as investigations by the CBI and MCA continue.
| Date | Announcement | Amount |
|---|---|---|
| 29 Jul 2026 | Q1 FY27 consolidated total incomeSource: adani.com | ₹33,546.00 Cr |
| 30 Apr 2026 | Q4 FY26 consolidated total incomeSource: adanienterprises.com | ₹33,187.00 Cr |
| 03 Feb 2026 | Q3 FY26 consolidated total incomeSource: adani.com | ₹25,475.00 Cr |
| 04 Nov 2025 | Q2 FY26 consolidated total incomeSource: icicidirect.com | ₹21,844.00 Cr |
| 31 Jul 2025 | Q1 FY26 consolidated total incomeSource: adani.com | ₹22,437.00 Cr |
| 01 May 2025 | Q4 FY25 consolidated total incomeSource: icicidirect.com | ₹27,602.00 Cr |
What to watch next
- Completion of the 5.54% stake issuance in Adani Airport Holdings to identified investors
- Expansion of the data center portfolio towards the guided 500 MW capacity within 3 years
- Regulatory updates on the pending MIAL investigations by central agencies
- Next quarterly results board meeting expected in late January 2027
“In view of the judgement and basis legal assessment, MIAL's management is of the view that it has a strong case in its favour to claim such relief, which is also supported by its operational and financial data.”
| Share price | ₹2490 |
|---|---|
| Market capitalisation | ₹3.37L 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) | 45.27×Sector 36.37× |
| 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.
Regulatory filing by Adani Enterprises Limited announcing its unaudited financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
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