Adani Enterprises reported a mixed set of results for the fourth quarter of FY26, posting a net loss even as revenue growth remained strong. The flagship entity of the Adani Group reported a consolidated net loss of ₹221 crore in Q4FY26, compared to a profit of ₹3,845 crore in the same quarter last year.
The weak bottom line was attributed to higher depreciation expenses linked to newly commissioned infrastructure assets, even as operational performance showed resilience.
Adani Enterprises recorded a 20% year-on-year (YoY) increase in revenue from operations, which rose to ₹32,439 crore in the March quarter, compared to the year-ago period.
However, profitability was hit due to increased depreciation charges arising from large capital investments, particularly in the Navi Mumbai infrastructure project and its copper plant. These expenses weighed on the company’s net profit, resulting in a quarterly loss.
Despite the decline in net profit, the company’s operational performance remained stable. EBITDA rose 3% YoY to ₹4,479 crore from ₹4,346 crore in Q4FY25.
Adani Enterprises highlighted a structural shift in its business model, with nearly 80% of EBITDA now coming from core infrastructure and utility businesses. This transition toward long-term, contracted assets is expected to enhance earnings visibility and provide more stable cash flows going forward.
The board has recommended a dividend of ₹1.3 per equity share for FY26, reflecting continued shareholder returns despite short-term earnings pressure.
For the full financial year FY26, the company reported a 3% rise in total income to ₹1.02 lakh crore. EBITDA stood at ₹16,464 crore, while profit after tax increased 31% to ₹9,339 crore, supported by exceptional gains during the year.
Chairman Gautam Adani stated that the company has transitioned into a more stable, infrastructure-led business model, positioning it for sustained growth and long-term value creation.
Adani Enterprises’ Q4FY26 results reflect the impact of ongoing capital expansion, where higher depreciation has temporarily weighed on profits. However, strong revenue growth and a shift toward infrastructure-driven earnings underline improving business stability. Investors will closely watch how these investments translate into profitability in the coming quarters.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Published on: Apr 30, 2026, 4:09 PM IST
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