Adani Enterprises arm buys balance 14% stake in Air Works India
This story was originally published at 19:56 IST on 11 March 2026
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--Adani Enterprises arm buys balance 14% stake in Air Works India
MUMBAI – Adani Defence Systems and Technologies Ltd. has purchased almost all shares of Air Works India (Engineering) Pvt. Ltd., effectively making it a wholly-owned step-down subsidiary of Adani Enterprises Ltd. Adani Defence is a wholly-owned subsidiary of Adani Enterprises. With the latest acquisition of 14.2% in Air Works India, Adani Defence has increased its stake in the company to 99.98% from 85.76% earlier, Adani Enterprises told the exchanges in a filing Wednesday.
The acquisition was completed for a cash consideration and values Air Works India at INR 4 billion. The company, established in 1951, is a maintenance, repair, and operations partner for original equipment manufacturers, aircraft owners and operators, lessors, and airlines in India and outside. The objective of the acquisition is to expand Adani Defence's presence in aircraft services and the maintenance, repair, and operations industry, Adani Enterprises said.
For the financial year 2024–25 (Apr-Mar), Air Works India's revenue was INR 5.71 billion. For FY24 and FY23, it had reported a turnover of INR 3.56 billion and INR 3.54 billion, respectively.
For the December quarter, Adani Enterprises had, on a consolidated basis, reported a net profit of INR 56.27 billion on a revenue of INR 248.20 billion. Wednesday, its shares ended over 1% lower at INR 1,974.70 on the National Stock Exchange. End
Reported by Eshitva Prakash
Edited by Rajeev Pai
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