Adani Enterprises Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
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Awaiting price reaction for this filing.
Adani Enterprises posted Q2 FY26 consolidated revenue from operations of ₹21,249 crore, down about 6% from ₹22,608 crore in Q2 FY25, with half-year revenue falling nearly 10% to ₹43,210 crore. Headline profit after tax jumped to ₹3,414 crore from ₹1,989 crore, but this was driven almost entirely by exceptional gains of ₹3,583 crore, mainly from selling a 10.42% stake in AWL Agri Business and from the Ambuja Cements amalgamation. Core profit before exceptional items and tax actually fell sharply to ₹814 crore from ₹2,409 crore, showing weak underlying operations. The board also approved a rights issue of partly paid-up shares for up to ₹25,000 crore to eligible shareholders. The auditor gave a modified review report, flagging ongoing CBI/MCA investigations at subsidiary Mumbai International Airport (₹845.76 crore alleged fund diversion), emphasis-of-matter on airport-related litigation, and going-concern support for several loss-making subsidiaries.
The ₹25,000 crore rights issue could be dilutive but gives the company fresh growth capital. However, the headline profit jump is misleading because core earnings deteriorated and revenue shrank; the stock may react negatively to the underlying weakness despite the large one-time gains and capital raise plans.