Adani Enterprises revenue jumps 75% as new businesses ramp up; Adani Ports raises FY27 guidance
MUMBAI: Adani Group flagship Adani Enterprises Ltd reported a 75% jump in revenue in the July-September quarter (Q2FY27), buoyed by the ramp-up of copper smelting and the newly built Navi Mumbai airport. Adani Ports and Special Economic Zone Ltd, the group’s key earnings driver, also posted strong growth, with profit rising nearly a fifth from a year earlier.
The results come as the group’s airport business faces a standoff with airlines over plans to shift flights from Mumbai’s main airport to Navi Mumbai ahead of renovations at Terminal 1, scheduled to begin in April 2027.
Adani Airport Holdings Ltd, India’s largest private-sector airport operator with eight airports, is confident it can persuade international airlines to move operations to Navi Mumbai to facilitate the renovation of Terminal 1, chief executive Arun Bansal told analysts on Wednesday.
“Either they move to Navi Mumbai or temporarily stop flying to Mumbai,” he said.
Discussions remain inconclusive with all but a few international carriers, Bansal said. Several international airlines and the three leading domestic carriers have already announced plans to shift some routes to Navi Mumbai ahead of the renovation.
The company expects the new airport to reach its full annual capacity of 20 million passengers by the end of March 2028. Work on its second phase is set to begin next month, Bansal said.
Adani’s data-centre business also expanded during the quarter. Operational capacity reached 94.6 megawatts, while the company secured fresh orders for another 240 megawatts, taking its tied-up capacity to more than 1.2 gigawatts.
Adani Enterprises’ other businesses include solar-panel and wind-turbine manufacturing, roads, mining and coal trading, alongside copper smelting. The company also serves as an incubator for new businesses within the conglomerate.
Adani Enterprises reported consolidated profit attributable to shareholders of ₹1,492 crore, less than half the level recorded a year earlier. The year-earlier quarter included ₹3,583 crore in exceptional income. Excluding that income, Adani Enterprises could have reported a loss.
Revenue rose 75% year-on-year to ₹37,216 crore, while earnings before interest, tax, depreciation and amortisation increased 66% to ₹5,580 crore. Ebitda margin narrowed by 80 basis points to 15%.
“We live in an age of such intense disruption that the scale of our ambitions must continuously grow,” Gautam Adani, chairman of the Adani Group, said in a press release. “What Adani Enterprises has become very effective at is turning increasingly large and complex commitments into execution at scale across our businesses.”
Adani Enterprises shares closed 0.32% lower on the BSE on Wednesday at ₹2,482, valuing the company at ₹3.4 trillion. The benchmark Sensex fell 0.48%.
Adani Ports, meanwhile, reported a nearly 20% increase in quarterly profit to ₹3,682 crore. Revenue rose 25% to ₹11,340 crore, while Ebitda climbed by a similar rate to ₹6,807 crore.
The performance prompted the company to raise its revenue-growth guidance for this fiscal year (FY27) to 14-19%, three percentage points above its previous range. Its Ebitda-growth guidance increased by four percentage points to 14-18%.
The company now expects to spend ₹15,000-17,000 crore on capital expenditure this fiscal year, about ₹3,000 crore more than previously guided.
“Domestic Ports continue to anchor our earnings, while International Ports, Logistics and Marine are emerging as powerful growth engines,” whole-time director and chief executive Ashwani Gupta said in a press release.
Adani Ports shares closed 0.27% lower on the BSE at ₹1,759, valuing the company at ₹4.1 trillion.
Nehal chronicles India’s top conglomerates for Mint. From navigating the complexities of big-bang mergers and large-scale fundraises to decoding high-profile recruitments and seemingly inexplicable corporate pivots, Nehal focuses on unpacking the long-term strategies of the country’s most influential business houses. He aims to provide readers with a clear-eyed view of how these corporate titans shape the broader Indian economy.<br><br>His professional journey began at The Economic Times in 2018, where he spent over five years before joining Mint in 2023. Over his career, he has tracked diverse sectors like automobiles, metals, cement, power, infrastructure, and renewable energy. He also keeps a close watch on the intricacies of corporate finance and corporate governance. This wide-ranging sectoral experience allows him to better understand India’s large conglomerates that sit at the confluence of these vital industries.<br><br>Nehal studied mechanical engineering from the Pune University and graduated with distinction in 2017. Driven by a passion for storytelling, he pivoted to journalism immediately after, attending the Asian College of Journalism in Chennai. While his time in the newsroom has made him a healthy sceptic, his engineering roots keep him perpetually inquisitive about how things work—and why they fail.<br><br>He actively encourages readers to reach out for feedback, collaboration, or news tips. Nehal can be reached via LinkedIn or directly at nehal.chaliawala@livemint.com.
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