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Informist, Thursday, Apr. 30, 2026

By Sunil Raghu & Eshitva Prakash

AHMEDABAD/MUMBAI – Adani Enterprises Ltd. plans to spend INR 400 billion-INR 450 billion in capital expenditure in the current financial year, a senior company official told analysts and investors in the post March quarter and FY26 earnings call Thursday.

This, the management said, was similar to the capital expenditure they incurred in 2025–26 (Apr-Mar), adding that they were close to about 95% of their target capex in FY26. "So it's been a very good year from that point of view. We expect the next year to be around the same level, about 40,000 crores (INR 400 billion)," the company official said.

Sharing the break-up of capex, the official said that it would spend roughly INR 170 billion on airports. This includes starting Phase 2 of the recently-operational Navi Mumbai International airport and setting up one more terminal at Sardar Vallabbhai Patel International Airport in Ahmedabad that is slated to host the Commonwealth Games in 2030.

The other big share would be invested in completion of the upcoming 1 million tonnes per annum poly vinyl chloride plant at Mundra. The company hopes to invest INR 90 billion in this plant in FY27. It would spend INR 40 billion in the natural resources, metals and mining space, with the remaining INR 100 billion to be spent on all the other remaining businesses of this incubation hub for the Adani group of companies.

Earlier, the company announced its earnings for the March quarter and FY26. It reported a consolidated net loss of INR 2.21 billion for the March quarter. The company had reported a net profit of INR 38.45 million in the year-ago quarter.

The consolidated revenue of the company for the March quarter was INR 324.39 billion, up over 20% on year and nearly 31% on quarter. The consolidated net profit of the company in FY26 was INR 93.39 billion, up nearly 32% on year. The consolidated revenue for the same period rose to INR 1.01 trillion, up nearly 3% on year. 

Other than rising expenses, especially raw material costs, the consolidated sales from integrated resources management in the March quarter were INR 68.62 billion, down nearly 33% on year from INR 101.70 billion. The segment comprises over 21% of the company's consolidated revenue. Low volume and prices led to the decline in revenue for this segment, the company said. The company's resource management volume was at 9.3 million tonnes, down 40% on year.

Additionally, the earnings were said to be impacted by the depreciation of Navi Mumbai and the copper assets. The management also pointed to mining production being severely affected during the quarter due to water logging caused by heavy rains at its Carmichael commercial mine in Australia. "...another part of that is because the way we have invested in Australia mining business, we have taken non-cash market markdown, which has happened due to the exchange rates, with is about 600-odd crores (INR 6 billion)," the company official said. Going ahead, the company sees its mining services revenue to grow around 20% on year in FY27.

Adani Enterprises released its earnings after market hours Thursday. Shares of the company closed 0.7% lower at INR 2,408.40 on the National Stock Exchange.  End
 

Edited by Akul Nishant Akhoury

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