ADANIENT
Adani Enterprises share price & financials
- Price
- ₹3,160.7
- Market cap
- ₹4.1L Cr
- Sector
- Metals & Mining
- Calls analysed
- 7
Adani Enterprises Q4 FY24
Revenue ₹1,200 cr; EBITDA ₹16,722 cr. Diversified conglomerate with operations across multiple sectors.
Read the full call →What Adani Enterprises Limited does
Adani Enterprises is the flagship listed incubator of the Adani Group, building emerging infrastructure and primary-industry businesses and later demerging them into separate listed entities (it has already spun off Adani Ports, Adani Power, Adani Green Energy, Adani Total Gas and others). It currently operates a diversified portfolio spanning airport management, solar and wind equipment manufacturing (its green-hydrogen ecosystem), mine development and operation, integrated resource management (coal trading), roads and data centres, alongside primary industries such as copper, aluminium and PVC. The company earns through operating these infrastructure assets, manufacturing and selling equipment, providing mining services on contract, and trading resources.
Segments
- Integrated Resource Management (IRM)
- Mining Services (MDO)
- Commercial Mining
- New Industries (ANIL)
- Airports (AAHL)
- Roads (ARTL)
- Data Centre (AdaniConneX)
- Metals & Materials
- Others
- Airports operated
- 8
- Passengers handled across airports (FY26)
- 95.3 million
- Solar cell & module manufacturing capacity
- 4 GW
- Wind turbine generator manufacturing capacity
- 2.25 GW
- Mining (MDO) total peak capacity
- 145.4 MMTPA
- Road projects (incl. one ropeway)
- 20
Guidance record · Q4 FY26
what the last two calls moved 14 tracked 0 delivered 2 missed 12 open- FY26 Capex went quiet said Q3 FY26 Promised: Roughly INR 36,000 crores for FY26. Q4 FY26: FY26 has concluded, but management did not provide the final full-year capex figure to verify against the INR 36,000 crore target.
- Data Center Partnership Disclosure at risk said Q3 FY26 Promised: About another quarter to 4 months away before we will be able to publicly share the rollout plans. Q4 FY26: The disclosure window (Mar-Jun 2026) has begun, but no update on the partnership was provided in the Q4 earnings call. The lack of mention places this promise at risk.
- Defense Business Financial Disclosure on track said Q3 FY26 Promised: Update fully as a segment in detail from the first half of next year (post September 2026 results) Q4 FY26: The target for disclosure is in H1 FY27. No update was expected or provided this quarter. The promise remains on track.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 1.3%, net profit down 280.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,587 | 6,157 | 6,165 | 5,878 | 5,066 −23% | 5,304 −14% | 6,813 +11% | 5,954 +1% |
| EBITDA | 739 | 625 | 519 | 579 | 666 −10% | 474 −24% | 175 −66% | 927 +60% |
| Net profit | 628 | 535 | 4,275 | 494 | 4,234 +574% | 6,296 +1077% | 344 −92% | -890 −280% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +30.8% 1Y
1Y: ₹2,340.2 on 10 Sept 2025 → ₹3,060. High ₹3,212.1 (3 Jul 2026), low ₹1,758.8 (30 Mar 2026).
How the price took the results
close before → close after
- Q3 FY26
- +10.4%
- 3 Feb
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 41.6% a year over 3 years, FY23 to FY26. Operating margin widened to 8.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹116.0k Cr | ₹34.8k Cr | ₹26.7k Cr | ₹23.1k Cr |
| Operating profit | ₹5.7k Cr | ₹2.9k Cr | ₹2.6k Cr | ₹1.9k Cr |
| Operating margin | 5.0% | 8.4% | 9.7% | 8.2% |
| Interest | ₹2.6k Cr | ₹639 Cr | ₹1.0k Cr | ₹1.8k Cr |
| Depreciation | ₹1.6k Cr | ₹142 Cr | ₹156 Cr | ₹188 Cr |
| Net profit | ₹2.1k Cr | ₹2.8k Cr | ₹6.0k Cr | ₹11.4k Cr |
| Net margin | 1.8% | 8.2% | 22.6% | 49.3% |
| Cash from operations | ₹11.2k Cr | ₹508 Cr | ₹-3.7k Cr | ₹-3.2k Cr |
| Free cash flow | ₹11.0k Cr | ₹229 Cr | ₹-4.6k Cr | ₹-4.4k Cr |
| ROCE | 22.0% | 22.0% | 13.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹110 Cr | ₹110 Cr | ₹114 Cr | ₹114 Cr | ₹115 Cr | ₹129 Cr |
| Reserves | ₹4.0k Cr | ₹5.1k Cr | ₹13.8k Cr | ₹16.5k Cr | ₹53.9k Cr | ₹62.6k Cr |
| Borrowings | ₹2.9k Cr | ₹4.4k Cr | ₹3.1k Cr | ₹5.9k Cr | ₹109.5k Cr | ₹11.0k Cr |
| Other liabilities | ₹5.9k Cr | ₹12.0k Cr | ₹23.1k Cr | ₹19.6k Cr | ₹57.9k Cr | ₹8.4k Cr |
| Total liabilities | ₹13.0k Cr | ₹21.7k Cr | ₹40.1k Cr | ₹42.2k Cr | ₹221.4k Cr | ₹82.2k Cr |
| Fixed assets | ₹1.4k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹1.5k Cr | ₹102.0k Cr | ₹2.5k Cr |
| Capital work in progress | ₹453 Cr | ₹511 Cr | ₹649 Cr | ₹752 Cr | ₹41.3k Cr | ₹1.1k Cr |
| Investments | ₹2.5k Cr | ₹3.4k Cr | ₹9.9k Cr | ₹14.1k Cr | ₹10.0k Cr | ₹28.3k Cr |
| Other assets | ₹8.6k Cr | ₹16.0k Cr | ₹27.9k Cr | ₹25.8k Cr | ₹68.0k Cr | ₹50.4k Cr |
| Total assets | ₹13.0k Cr | ₹21.7k Cr | ₹40.1k Cr | ₹42.2k Cr | ₹221.4k Cr | ₹82.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jul 2026
Since Jun 2025, DIIs added +3.71 pp while promoters trimmed −2.00 pp. The shareholder count shrank 5% to 5,88,595.
- Promoters
- 72.0%
- FIIs
- 10.5%
- DIIs
- 10.8%
- Public
- 6.8%
Since Jun 2025
- DIIs +3.71 pp
- Promoters −2.00 pp
- FIIs −1.04 pp
How it drifted, 12 quarters
Over this window DIIs went from 5.4% to 10.8% — +5.3 pp.
Ownership split by quarter, oldest first. Dec '23: Promoters 72.6%, FIIs 14.7%, DIIs 5.4%, Public 7.3%.Mar '24: Promoters 72.6%, FIIs 14.4%, DIIs 5.8%, Public 7.2%.Jun '24: Promoters 74.7%, FIIs 11.7%, DIIs 6.0%, Public 7.5%.Sep '24: Promoters 74.9%, FIIs 11.3%, DIIs 6.5%, Public 7.4%.Dec '24: Promoters 74.0%, FIIs 11.7%, DIIs 6.6%, Public 7.7%.Mar '25: Promoters 74.0%, FIIs 11.7%, DIIs 6.9%, Public 7.5%.Jun '25: Promoters 74.0%, FIIs 11.6%, DIIs 7.0%, Public 7.4%.Sep '25: Promoters 74.0%, FIIs 11.7%, DIIs 6.8%, Public 7.5%.Dec '25: Promoters 74.0%, FIIs 11.6%, DIIs 6.7%, Public 7.7%.Mar '26: Promoters 74.7%, FIIs 10.8%, DIIs 6.7%, Public 7.8%.Jun '26: Promoters 74.8%, FIIs 8.8%, DIIs 9.3%, Public 7.1%.Jul '26: Promoters 72.0%, FIIs 10.5%, DIIs 10.8%, Public 6.8%.
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- SBI Equity Hybrid Fund Mutual fund +0.44 pp 2.81% held
- Quant Mutual Fund - Quant Small Cap Fund Mutual fund +0.09 pp 1.30% held
The same filing shows 11 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jul 2026 filing
Every holder of Adani Enterprises Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Gautambhai Shantilal Adani and Rajeshbhai Shantilal Adani (on behalf of S.B. Adani Family Trust) | 47.43% | −1.90 pp |
| Adani Tradeline Private Limited | 8.89% | −0.36 pp |
| Life Insurance Corporation Of India Insurer | 3.25% | −0.25 pp |
| Kempas Trade And Investment Ltd | 3.06% | −0.13 pp |
| Green Enterprises Investment Holding Rsc Limited | 2.97% | −0.12 pp |
| Flourishing Trade And Investment Ltd | 2.81% | −0.11 pp |
| SBI Equity Hybrid Fund Mutual fund | 2.81% | +0.44 pp |
| Worldwide Emerging Market Holding Limited | 2.50% | −0.10 pp |
| Afro Asia Trade And Investments Limited | 2.50% | −0.10 pp |
| Infinite Trade And Investment Ltd | 2.01% | −0.08 pp |
| Goldman Sachs Trust Ii - Goldman Sachs Gqg Partners International Opportunities Fund Global fund house | 1.98% | −0.08 pp |
| Emerging Market Investment Dmcc | 1.59% | −0.06 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in ADANIENT
Filings to Aug 2026
4 new, 13 added, 6 trimmed, 1 sold out — net +11.07 L shares (+2.7%).
- Held by funds
- ₹12.1k Cr
- 35 schemes
- Biggest holder
- SBI Aggressive Hybrid Fund
- ₹2.1k Cr · 2.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Aggressive Hybrid Fund SBI Mutual Fund | ₹2.1k Cr | held | Jun '26 |
| SBI Nifty 50 ETF SBI Mutual Fund | ₹1.6k Cr | +0.29 L | Sep '22 |
| SBI Focused Fund SBI Mutual Fund | ₹1.4k Cr | held | Jun '26 |
| SBI ELSS Tax Saver Fund SBI Mutual Fund | ₹982 Cr | held | Jun '26 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹980 Cr | held | May '26 |
| SBI MultiCap Fund SBI Mutual Fund | ₹843 Cr | held | Jun '26 |
| SBI Large Cap Fund SBI Mutual Fund | ₹832 Cr | held | Jun '26 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹649 Cr | −0.82 L | Aug '21 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
13 added, 6 trimmed — net +11.07 L shares (+2.7%)
- Funds are sitting on
- +9%
- vs est. average cost
- Held by funds
- ₹12.1k Cr
- 35 schemes · ≈ 3.2% of the company
- Biggest holder
- SBI Aggressive Hybrid Fund
- ₹2.1k Cr · 2.4% of that fund
- Longest holder
- Nippon India ETF Nifty 100
- 5y 6m · since Mar '21
Shares held by these funds +472%
Aug '23 4.35 cr shares Jul '26
All earnings calls (2)
Read the Q4 FY26 call →Learn to analyse Adani Enterprises Limited
Guides on how to read this kind of business and the numbers that matter.