Executive Summary
Across 15 filings in the BSE METAL stream, Adani Enterprises dominates with 12 disclosures highlighting FY26 consolidated revenue growth of 3% YoY to ₹1,02,943 Cr and EBITDA flat at -2% YoY to ₹16,464 Cr, but Q4 PAT negative at ₹(221) Cr due to depreciation on new assets like Navi Mumbai Airport and copper plant, alongside persistent modified audit opinions on consolidated results from MIAL investigations (₹845.76 Cr misuse, NBV ₹433.52 Cr). NALCO shows robust FY26 production records (bauxite +6.13% YoY to 77.07 LT, alumina +10.79% to 23 LT, aluminium +2.61% to 4.72 LT) driving revenue +6.3-6.4% YoY to ~₹17,800 Cr and PAT +9.2% to ₹5,816 Cr, though Q4 saw declines (revenue -4.7-4.8% YoY, PAT -17.4%). Both companies announced dividends (Adani ₹1.30 or 130% on ₹1 FV, record June 12; NALCO ₹2 or 40% interim on ₹5 FV, record May 8), signaling shareholder returns amid fundraising (Adani ₹15,000 Cr proposal) and expansions (NALCO refinery/smelter, Utkal coal mines May 2026). Portfolio-level trends reveal FY strength (avg revenue +4-5% YoY) contrasting Q4 weakness (avg -2-10% declines), with mixed sentiments (9/11 material filings mixed) due to audit issues and seasonality; positive rights issue utilization at Adani (₹22,670 Cr used of ₹24,852 Cr raised, no deviations). Key implications: Near-term dividend catalysts, monitor MIAL probe and metal prices (NALCO LME guidance $3125/MT CY2026); sector shift towards infra/mining resilience despite Q4 softness.
Tracking the trend? Catch up on the prior BSE Metal Sector Regulatory Filings digest from April 22, 2026.
Investment Signals(12)
- Adani Enterprises↓(BULLISH)▲
FY26 consolidated total income +3% YoY to ₹1,02,943 Cr, Q4 +20% YoY to ₹33,187 Cr, airports EBITDA +55% YoY to ₹5,394 Cr, mining services dispatch +14% FY26 to 49.4 MMT
- Adani Enterprises↓(BULLISH)▲
Rights Issue proceeds fully on track with no deviations, ₹22,669.73 Cr utilized of ₹24,852.32 Cr raised (primarily debt repayment), unutilized in high-yield FDs (5.25-6.85%)
- Adani Enterprises↓(BULLISH)▲
Recommended dividend ₹1.30 (130%) per ₹1 share, record date June 12, 2026, payment post June 30 post-AGM approval
- NALCO(BULLISH)▲
Record FY26 production - bauxite +6.13% YoY to 77.07 LT, alumina hydrate +10.79% YoY to 23 LT, aluminium +2.61% YoY to 4.72 LT
- NALCO(BULLISH)▲
FY26 revenue +6.3-6.4% YoY to ₹17,729-17,843 Cr, PAT +9.2-9.22% YoY to ₹5,816 Cr, EPS ₹31.67, total assets +16% to ₹26,803 Cr
- NALCO(BULLISH)▲
3rd interim dividend ₹2 (40%) per ₹5 share on ₹918 Cr capital, record May 8, 2026, unmodified audit opinion
- Adani Enterprises↓(BULLISH)▲
80% EBITDA now from core infra-utility (airports/mining), new road projects added (Chennai ORR TOT, Palanpur NH-27 TOT, Ganga Path HAM), AdaniConnex 358 MW hyperscale order
- NALCO(BULLISH)▲
Positive outlook with LME Al prices at $3125/MT CY2026, expansions in refinery/smelter, Utkal D&E coal mines (111 MT reserve) opening May 2026, 198 MW wind +307 MU FY26
- Adani Enterprises↓(NEUTRAL-BULLISH)▲
Q4 EBITDA +3% YoY to ₹4,479 Cr despite neg PAT, fundraising approval up to ₹15,000 Cr for growth
- NALCO(MIXED)▲
Q4 metal production -0.85% YoY but FY wind power generation strong, coal mine catalysts ahead
- Adani Enterprises↓(BEARISH)▲
Consolidated EBITDA -2% YoY FY26 to ₹16,464 Cr, ANIL ecosystem -5% to ₹4,532 Cr, roads -23% YoY Q4 to ₹1,362 Cr
- NALCO(BEARISH)▲
Q4 revenue -4.7-4.8% YoY to ~₹4,981-5,013 Cr, PAT -17.4% YoY to ₹1,718 Cr
Risk Flags(10)
- Adani Enterprises/Audit↓[HIGH RISK]▼
Consolidated financials carry modified/qualified opinion for 5+ filings due to ongoing MIAL investigations on ₹845.76 Cr misuse (NBV ₹433.52 Cr in PPE), unmodified only on standalone
- Adani Enterprises/PAT↓[HIGH RISK]▼
Q4 FY26 PAT negative ₹(221) Cr due to depreciation on new assets (Navi Mumbai Airport, copper plant), FY PBT ₹4,309 Cr ex-exceptional ₹9,215 Cr gain
- Adani Enterprises/Operations↓[MEDIUM RISK]▼
Roads construction -84% YoY Q4 to 110.7 L-KM, -40% FY to 1,451.7 L-KM; IRM volume -21% FY to 44.6 MMT
- NALCO/Q4 Performance[MEDIUM RISK]▼
Revenue -4.7-4.8% YoY Q4 to ₹4,981-5,013 Cr, PAT -17.37-17.4% YoY to ₹1,718 Cr, metal production -0.85% YoY
- Adani Enterprises/Fundraise↓[MEDIUM RISK]▼
Proposal to raise ₹15,000 Cr via equity/securities pending AGM approval June 24, 2026, amid EBITDA softness
- Adani Enterprises/Rights Issue↓[LOW-MEDIUM RISK]▼
₹77.98 Cr call proceeds pending (₹54.45 Cr unpaid), though overall no deviations
- Adani Enterprises/EBITDA Mix↓[MEDIUM RISK]▼
Core portfolio offsets but ANIL -5% YoY FY, roads -23% Q4, airports flat ATMs -1% FY to 619k
- Sector/Q4 Seasonality[SECTOR RISK]▼
Both companies show Q4 declines (Adani neg PAT, NALCO -17% PAT) vs strong FY, potential metal price/cost pressures
- Adani Enterprises/Governance↓[GOVERNANCE RISK]▼
Auditor change to Ernst & Young LLP replacing prior, amid MIAL probe
- NALCO/Transcript Pending[LOW RISK]▼
Earnings call audio released April 30, 2026, but transcript per SEBI LODR to follow, no UPSI but monitor for details
Opportunities(10)
- Adani Enterprises/Dividend↓(OPPORTUNITY)◆
₹1.30 (130%) payout, record June 12, 2026 - buy before ex-date for yield, post-AGM payment June 30
- NALCO/Dividend(OPPORTUNITY)◆
3rd interim ₹2 (40%), record May 8, 2026 - immediate yield play, payment by May 30
- NALCO/Production Expansion(OPPORTUNITY)◆
Record FY growth +6-11% YoY, refinery/smelter additions, Utkal coal May 2026 - volume upside vs LME $3125/MT guidance
- Adani Enterprises/Infrastructure Shift↓(OPPORTUNITY)◆
80% EBITDA from core (airports +55% Q4), mining +14% FY, new roads/TOT deals - re-rating on diversification
- Adani Enterprises/Rights Utilization↓(OPPORTUNITY)◆
Full deployment ₹22,670 Cr used (debt prepay focus), no deviations per CARE Ratings - deleveraging alpha
- NALCO/Asset Growth(OPPORTUNITY)◆
Total assets +16% YoY to ₹26,803 Cr, wind power 307 MU, coal reserves 111 MT - capex efficiency
- Adani Enterprises/Fundraise↓(OPPORTUNITY)◆
₹15,000 Cr raise for growth (post-AGM June 24), supports airports/roads/mining amid +20% Q4 revenue
- Sector/Metal Outlook(OPPORTUNITY)◆
NALCO LME guidance $3125/MT CY2026 positive, Adani mining +14% - trade sector recovery post-Q4 dip
- Adani Enterprises/AdaniConnex↓(OPPORTUNITY)◆
New 358 MW hyperscale data center order Hyderabad, phase-II 4.8 MW live - high-growth adjacency
- NALCO/Earnings Transcript(OPPORTUNITY)◆
Post-April 30 call audio, upcoming transcript may reveal detailed guidance/upside
Sector Themes(6)
- Q4 Weakness vs FY Strength(THEME)◆
2/2 companies report FY revenue/PAT growth (+3-9% YoY) but Q4 declines (Adani neg PAT, NALCO -5-17% sales/PAT) - seasonal metal cost pressures, watch H1 recovery
- Dividend Resilience(THEME)◆
Both Adani (130% on ₹1 FV) and NALCO (40% interim on ₹5 FV) prioritize payouts despite Q4 softness - avg yield signal, 2/2 announcing records May/June 2026
- Audit Divergence(THEME)◆
Adani consolidated modified (MIAL probe) vs standalone unmodified (6 filings); NALCO unmodified - governance split, metals-exposed consols riskier
- Production/Volume Growth(THEME)◆
NALCO record FY +2.6-10.8% YoY volumes; Adani mining +14% dispatch - sector capacity expansion offsets price volatility
- Capital Allocation to Growth(THEME)◆
Adani ₹15k Cr fundraise + rights debt prepay; NALCO expansions/coal - reinvestment over buybacks, supports long-term mining/infra
- Positive Forward Guidance(THEME)◆
NALCO LME $3125/MT CY26, coal May 2026; Adani infra milestones (Ganga Expressway) - catalyst-rich vs Q4 dip
Watch List(8)
Shareholder approval for ₹15,000 Cr fundraise and dividend, June 24, 2026 via VC/OAVM - monitor fundraising terms [WATCH JUNE 24]
Ex-date proximity June 12, 2026 - volume/price action pre-payment June 30 [WATCH JUNE 12]
- NALCO/Dividend Record👁
3rd interim payout, May 8, 2026 - yield capture, payment by May 30 [WATCH MAY 8]
- Adani Enterprises/MIAL Probe↓(WATCH ONGOING)👁
Ongoing investigations ₹845.76 Cr misuse (NBV ₹433.52 Cr) - audit qualification resolution timeline
- NALCO/Utkal Coal Mines👁
D&E mines (111 MT reserve) opening likely May 2026 - production/cost impact [WATCH MAY 2026]
- NALCO/Earnings Transcript(WATCH SOON)👁
Post-April 30, 2026 call audio - SEBI LODR transcript for detailed outlook/LME details
Ernst & Young LLP transition - governance updates at AGM June 24 [WATCH JUNE 24]
- Sector/Metal Prices👁
NALCO LME $3125/MT CY2026 guidance vs actuals - Q1 FY27 deviation for both Adani mining/NALCO [WATCH Q1 FY27]
Filing Analyses(15)
30-04-2026
Adani Enterprises Limited disclosed the Monitoring Agency Report for the quarter ended March 31, 2026, confirming no deviations from the objects of its Rights Issue proceeds totaling ₹24,930.30 Cr, with total funds received at ₹24,852.32 Cr and utilized ₹22,669.73 Cr. During Q4FY26, the company received ₹12,387.17 Cr (flat vs Q3FY26's ₹12,465.15 Cr) and utilized ₹14,572.17 Cr (up 80% QoQ from ₹8,097.56 Cr), with unutilized ₹2,182.59 Cr deployed in fixed deposits. However, ₹77.98 Cr in call proceeds remain pending collection, including ₹54.45 Cr unpaid.
- ·No deviations from objects or changes in means of finance observed.
- ·All government/statutory approvals in place; no favorable/unfavorable events affecting objects.
- ·Unutilized proceeds deployed: ₹1,500.00 Cr in SBI FD (5.25% return), ₹500.00 Cr in DBS FD (6.85% return), ₹182.59 Cr in monitoring account.
- ·Issue completion timeline: Fiscal 2026 and 2027, with no delays reported.
- ·GCP breakdown: ₹1,329.11 Cr in investments/loans to subsidiaries/JVs/associates, ₹1,026.50 Cr in working capital.
30-04-2026
Adani Enterprises Limited's Board approved audited standalone (unmodified opinion) and consolidated (modified opinion due to ongoing investigations at subsidiary Mumbai International Airport Limited involving potential misuse of Rs. 845.76 crores) financial results for the quarter and year ended March 31, 2026. The Board recommended a dividend of Rs. 1.30 (130%) per equity share of Re. 1 face value, with record date June 12, 2026, and approved raising up to ₹15,000 crore via equity or other securities, subject to shareholder approval at the June 24, 2026 AGM. Ernst & Young LLP was appointed as the new Internal Auditor.
- ·Standalone financial results received unmodified audit opinion; consolidated received modified opinion.
- ·AGM scheduled for Wednesday, June 24, 2026 via VC/AVM.
- ·Record date for dividend: Friday, June 12, 2026; payment on or after June 30, 2026 if approved.
- ·Fundraising subject to shareholder approval at AGM and regulatory approvals.
30-04-2026
The Board of Adani Enterprises Limited approved audited standalone (unmodified opinion) and consolidated (modified opinion due to ongoing MIAL investigations involving alleged misuse of Rs. 845.76 Cr with net book value Rs. 433.52 Cr) financial results for the quarter and FY ended 31st March 2026. They recommended a dividend of Rs. 1.30 (@130%) per Re. 1 equity share, subject to AGM approval, and approved fundraising up to ₹15,000 Cr via equity or other securities. Ernst & Young LLP was appointed as new internal auditor replacing Shobhit Dwivedi.
- ·Record Date for dividend entitlement: Friday, 12th June, 2026
- ·34th AGM scheduled for Wednesday, 24th June, 2026 via VC/AVM
- ·Dividend payment on or after 30th June, 2026 if approved
- ·Board meeting held on 30th April, 2026 from 1:45 pm to 3:25 pm
30-04-2026
Adani Enterprises Limited has confirmed no deviation or variation in the utilization of Rights Issue proceeds for the quarter ended March 31, 2026, as reviewed by the Audit Committee. The company raised INR 24,852.32 Crores through partly paid Rights Equity Shares, with proceeds allocated primarily to repayment/pre-payment of borrowings (original allocation ₹18,698.00 Crores) and general corporate purposes (₹6,208.05 Crores). Total funds utilized stood at ₹22,669.73 Crores as per the objects stated in the Letter of Offer dated November 12, 2025.
- ·Monitoring Agency: CARE Ratings Limited
- ·Rights Issue dates: Application Money on December 12, 2025; First Call Money on February 4, 2026; Second Call Money on March 24, 2026
- ·Letter of Offer dated November 12, 2025
- ·Rights Equity Shares issued on partly paid-up basis: ₹900 on application (50% of issue price), ₹450 on first call (25%), ₹450 on second call (25%)
- ·No comments from Audit Committee or auditors on deviations
30-04-2026
Adani Enterprises Limited's Board approved audited standalone (unmodified opinion) and consolidated (modified opinion due to ongoing investigations at subsidiary Mumbai International Airport Limited involving potential misuse of Rs. 845.76 crores in funds, carried at Rs. 433.52 crores net book value in PPE) financial results for the quarter and FY ended March 31, 2026. The Board recommended a dividend of Rs. 1.30 (130%) per equity share of Re. 1 face value, with record date June 12, 2026, and proposed raising up to ₹15,000 crore via equity or other securities, subject to AGM approval on June 24, 2026. Ernst & Young LLP was appointed as new Internal Auditor replacing the previous one.
- ·Record date for dividend: Friday, June 12, 2026.
- ·34th AGM scheduled for Wednesday, June 24, 2026 via VC/AVM.
- ·Dividend payment on or after June 30, 2026 if approved.
- ·Board meeting held April 30, 2026 from 1:45 pm to 3:25 pm.
30-04-2026
Adani Enterprises' Board approved audited standalone financial results (unmodified opinion) and consolidated results (modified opinion due to ongoing MIAL investigations on alleged misuse of Rs. 845.76 crores in works contracts, carried at net book value of Rs. 433.52 crores in PPE) for Q4 and FY ended March 31, 2026. The Board recommended a dividend of Rs. 1.30 (130%) per Re. 1 share, subject to AGM approval on June 24, 2026, with record date June 12, 2026. They also approved proposal to raise up to ₹15,000 crore via equity/securities and appointed Ernst & Young LLP as new internal auditor.
- ·Record date for dividend: Friday, June 12, 2026
- ·Dividend payment on or after June 30, 2026, subject to tax deduction
- ·34th AGM on Wednesday, June 24, 2026 via VC/AVM
- ·Previous consolidated audit opinions (FY25 and Q3 FY26) also modified for MIAL matter
30-04-2026
National Aluminium Company Limited (NALCO) has released the audio recording of its Earnings Conference Call held on April 30, 2026, discussing the company's business and outlook after the audited financial results for Q4 and FY ended March 31, 2026. The call ran from 1800 to 1920 hours, with no Unpublished Price Sensitive Information (UPSI) shared. The transcript will be provided separately per SEBI (LODR) Regulations, 2015.
- ·Audio recording link: https://nalcoindia.com/wp-content/uploads/2026/04/Audio-recording-of-the-Earnings-Conference.mp3
- ·Scrip Code: 532234 (BSE), Symbol: NATIONALUM (NSE)
- ·CIN: L27203OR1981GOI000920
30-04-2026
National Aluminium Company Limited achieved record FY25-26 production in bauxite transportation (77.07 Lakh Tonne, +6.13% YoY), alumina hydrate (23.00 Lakh Tonne, +10.79% YoY), and aluminium cast metal (4.72 Lakh Tonne, +2.61% YoY), driving Net Sales up 6.40% YoY to ₹17,729 Cr and PAT up 9.22% YoY to ₹5,816 Cr. However, Q4 FY25-26 showed declines with Net Sales down 4.72% YoY to ₹4,981 Cr, PAT down 17.37% YoY to ₹1,718 Cr, and metal production down 0.85% YoY at 117 ('000T). The company outlined expansions like refinery and smelter capacity additions amid a positive industry outlook with LME prices projected at US$3125/MT for CY2026.
- ·LME Aluminium prices projected to average US$3125/MT for CY2026.
- ·198 MW Wind Power generated 307 MU in FY25-26.
- ·Utkal D & E Coal mines (111 million tonne reserve) likely opening May 2026.
- ·Refinery expansion: 5th Stream adding 3.5 MTPA, commissioning June 2026.
- ·Smelter expansion to 1 MTPA, commissioning Aug 2030.
30-04-2026
National Aluminium Company Limited (NALCO) approved audited standalone financial results for the quarter and year ended March 31, 2026, reporting annual revenue growth of 6.3% YoY to ₹17,843.05 Cr and profit for the year up 9.2% YoY to ₹5,815.76 Cr with EPS at ₹31.67; however, Q4 FY26 revenue declined 4.8% YoY to ₹5,012.82 Cr and profit fell 17.4% YoY to ₹1,717.71 Cr. The board declared a 3rd interim dividend of ₹2 per share (40% on face value of ₹5) on paid-up equity share capital of ₹918.32 Cr, with record date May 8, 2026, and payment on or before May 30, 2026. Statutory auditors issued an unmodified opinion on the financial statements.
- ·Statutory Auditors issued Audit Report with unmodified opinion.
- ·Record Date for 3rd Interim Dividend: May 8, 2026.
- ·Dividend payment on or before May 30, 2026.
- ·Total Assets as at 31-03-2026: ₹26,803.45 Cr (up from ₹23,122.48 Cr).
- ·Meeting held on 30.04.2026 from 1000 to 1430 Hours.
30-04-2026
Adani Enterprises Limited published a newspaper advertisement on April 30, 2026, in Financial Express and Indian Express (Ahmedabad and Mumbai editions) regarding the Second 100 Days Campaign - 'Saksham Niveshak'. The campaign focuses on KYC updates, shareholder engagement, and preventing transfer of unpaid/unclaimed dividends to the Investor Education and Protection Fund (IEPF). The notice is available on the company's website at www.adanienterprises.com.
- ·Scrip Code BSE: 512599; NSE: ADANIENT
- ·CIN: L51100GJ1993PLC019067
- ·Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421
- ·Contact: Tel +91 79 2656 5555; Fax +91 79 2555 5500; Email: investor.ael@adani.com
30-04-2026
National Aluminium Company Limited reported audited standalone financial results for FY 2025-26, with annual revenue from operations increasing 6.3% YoY to ₹17,843.05 Cr and profit for the year up 9.2% to ₹5,815.76 Cr. However, Q4 FY26 revenue declined 4.8% YoY to ₹5,012.82 Cr and profit fell 17.4% to ₹1,717.71 Cr. The Board approved a 3rd interim dividend of ₹2 per share (40% on face value of ₹5) on paid-up equity share capital of ₹918.32 Cr, with record date May 8, 2026.
- ·Statutory Auditors issued unmodified opinion on audited financial statements.
- ·Total assets increased to ₹26,803.45 Cr as of 31-03-2026 from ₹23,122.48 Cr.
- ·Record date for 3rd interim dividend: May 8, 2026; payment on or before May 30, 2026.
- ·EPS (basic & diluted) for FY26: ₹31.67 (FY25: ₹28.99).
30-04-2026
The Board of Adani Enterprises Limited approved audited standalone (unmodified opinion) and consolidated (modified opinion) financial results for the quarter and year ended March 31, 2026, recommended a dividend of Rs. 1.30 (@130%) per equity share of Re. 1 face value, and approved fundraising up to ₹15,000 crore via equity or other securities. The consolidated results carry a qualified audit opinion due to ongoing investigations at subsidiary Mumbai International Airport Limited (MIAL) involving alleged misuse of funds of Rs. 845.76 crores (net book value Rs. 433.52 crores in PPE). Other approvals include appointing Ernst & Young LLP as new internal auditor and scheduling the 34th AGM on June 24, 2026.
- ·Record Date for dividend: Friday, June 12, 2026
- ·Dividend payment on or after June 30, 2026, subject to shareholder approval at AGM
- ·34th AGM scheduled for Wednesday, June 24, 2026 via VC/OAVM
- ·Fundraising subject to shareholder approval at AGM on June 24, 2026
30-04-2026
Adani Enterprises Ltd reported FY26 consolidated total income up 3% YoY to ₹1,02,943 Cr, with EBITDA at ₹16,464 Cr (-2% YoY) and 80% now generated from core infra-utility portfolio including airports and mining services. While Q4 total income grew 20% YoY to ₹33,187 Cr and airports EBITDA surged 55% YoY to ₹5,394 Cr, overall Q4 PAT was negative at ₹(221) Cr due to depreciation on new assets, ANIL ecosystem EBITDA declined 5% YoY to ₹4,532 Cr, and roads EBITDA fell 23% YoY to ₹1,362 Cr. PBT excluding exceptional gain of ₹9,215 Cr stood at ₹4,309 Cr.
- ·Q4 FY26 PAT attributable to owners: ₹(221) Cr (negative due to depreciation on Navi Mumbai and Copper plant assets)
- ·AdaniConnex: New hyperscale order for 358 MW in Hyderabad; phase-II 4.8 MW operational
- ·Roads: Added three new projects - Chennai Outer Ring Road (TOT), Palanpur-Radhanpur-Samkhayili NH-27 (TOT), Ganga Path extension Digha-Koilwar (HAM)
- ·ANIL: Domestic solar module sales +95% YoY to 1459 MW in Q4; Adani Wind only Indian in Top 15 global wind turbine manufacturers
- ·Airports: Aero revenue +26% YoY, non-aero +31% YoY in FY26; 3 new routes and 20 new flights added in Q4
- ·ESG rating: 83 by CareEdge (Leadership category)
- ·Core infra RAB: ₹32,726 Cr (71% of net external debt)
30-04-2026
Adani Enterprises Limited's Board approved audited standalone (unmodified opinion) and consolidated (modified/qualified opinion) financial results for Q4 and FY ended March 31, 2026, with the qualification stemming from ongoing investigations at subsidiary Mumbai International Airport Limited involving alleged misuse of Rs. 845.76 crores in funds (net book value Rs. 433.52 crores). The Board recommended a dividend of Rs. 1.30 (130%) per equity share of Re. 1 face value, subject to shareholder approval at the AGM on June 24, 2026, and approved fundraising up to ₹15,000 crore via equity or other securities. Additionally, Ernst & Young LLP was appointed as the new Internal Auditor.
- ·Record Date for dividend: Friday, 12th June, 2026
- ·AGM scheduled for Wednesday, 24th June, 2026 via Video Conferencing/Other Audio Visual Means
- ·Standalone financial results: unmodified audit opinion; Consolidated: modified/qualified opinion
- ·Statement on utilization of issue proceeds of Non-Convertible Securities enclosed as Annexure-C
30-04-2026
Adani Enterprises Ltd reported FY26 consolidated total income up 3% YoY to ₹1,02,943 Cr and EBITDA maintained flat at ₹16,464 Cr (down 2% YoY), with PBT at ₹4,309 Cr excluding exceptional gain of ₹9,215 Cr; strong airports EBITDA growth of 55% to ₹5,394 Cr was offset by ANIL EBITDA decline of 5% to ₹4,532 Cr and roads EBITDA drop of 23% to ₹1,362 Cr. Q4 FY26 total income rose 20% YoY to ₹33,187 Cr and EBITDA up 3% to ₹4,479 Cr, but PAT was negative at ₹(221) Cr due to depreciation on new assets like Navi Mumbai Airport and copper plant. The company achieved 80% EBITDA from core infra-utility portfolio, with milestones like Ganga Expressway inauguration and three new road projects added.
- ·Roads construction volume down 84% YoY in Q4 FY26 to 110.7 L-KM and 40% for FY26 to 1451.7 L-KM.
- ·Mining Services dispatch up 14% FY26 to 49.4 MMT, but IRM volume down 21% to 44.6 MMT.
- ·Airports ATMs flat/down 1% FY26 to 619.0 thousand.
- ·Adani Wind ranked in Top 15 global wind turbine manufacturers; domestic solar module sales up 95% YoY in Q4 to 1459 MW.
- ·AdaniConnex new hyperscale order for 358 MW, cumulative tied-up 560+ MW.
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