Adani Enterprises Ltd (AEL) reported its Q1FY26 financial results on Thursday, revealing a sharp decline in both profit and revenue due to weak performance in its integrated resource management and commercial mining segments.
The company’s consolidated net profit plunged 50% year-on-year to ₹734 crore for the quarter ended June 2025, compared to ₹1,469 crore in the same quarter last year.
Revenue from operations fell 14% YoY to ₹22,437 crore, down from ₹26,067 crore in Q1FY25. The decline was attributed to lower trading volumes and weaker index price realisations in key business segments.
Adani Enterprises also saw its Profit Before Tax (PBT) drop by 34% to ₹1,466 crore, while EBITDA declined 12% YoY to ₹3,786 crore.
Stock Reaction
Following the Q1 results, shares of Adani Enterprises traded nearly 4% lower at ₹2,434 on the NSE during the afternoon session, reflecting investor concerns over the sharp drop in earnings.
Strong Growth in Incubating Businesses
Despite the overall decline, AEL’s incubating businesses — including airports, roads, and green hydrogen — remained a bright spot, contributing 74% to total consolidated EBITDA. These businesses reported a 5% YoY growth in EBITDA, reaching ₹2,800 crore.
Chairman Gautam Adani stated that this performance validates AEL’s infrastructure incubation strategy. He highlighted key upcoming projects like the Navi Mumbai International Airport, Copper Plant, and Ganga Expressway as milestones in the company’s growth journey.
Operational Highlights
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Passenger traffic at Adani Airports rose to 23.4 million, up from 22.8 million last year.
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Mining services dispatch volumes jumped 30% to 12.1 million tonnes.
Capital Moves Post-Quarter-End
Post the June quarter, AEL:
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Raised ₹3,700 crore via a block deal by partially exiting its stake in Adani Wilmar.
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Signed a pact to divest its remaining 20% stake in Adani Wilmar.
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Raised ₹1,000 crore through its second public issue of non-convertible debentures (NCDs), which was fully subscribed within three hours.
Quick Take
Adani Enterprises’ Q1FY26 results show a significant dip in profits and revenue, but strong performance in incubating businesses offers long-term strategic comfort. The company continues to pursue growth through high-impact infrastructure projects and capital raising activities.