Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — Q1 FY26 Earnings Presentation
38 slides from Adani Enterprises's earnings presentation
Slide 1: Adani Enterprises Limited Earnings Presentation Q1 FY26
Adani Enterprises Limited Earnings Presentation Q1 FY26
Slide 2: Consolidated Financial Highlights Q1-26
Adani Enterprises Limited (“AEL”): Consolidated Financial Highlights Q1-26 ₹ crore Results at glance Total Income EBITDA PBT 4,300 2,236 26,067 3,786 22,437 9,342 1,466 2,667 1,552 9,018 2,800 5% 1,438 16,725 13,419 1,633 684 986 28 Q1-25 Q1-26 Q1-25 Q1-26 Q1-25 Q1-26 Established Businesses Incubati
Slide 3: Incubating Businesses
Adani Enterprises Limited (“AEL”): Incubating Businesses ₹ crore Incubating Businesses at glance 43% 50% ANIL AAHL ARTL Green H2 Ecosystem Airports Roads FY25 Q1-26 FY25 Q1-26 FY25 Q1-26 (YoY change) (YoY change) (YoY change) Total 4,035 2,715 2,268 Income 14,236 10,224 10,086 (11%) 25% (14%) 4,776
Slide 4: Contents
Contents 01 Adani Portfolio Overview 02 AEL – Largest Listed Incubator 03 Business & Operational Highlights 04 Financial Highlights 05 Debt Profile 06 ESG Highlights Appendix Home outline Hamburger Menu Icon with solid fill 4
Slide 5: Adani Portfolio Overview
01 Adani Portfolio Overview Hamburger Menu Icon with solid fill 5 STRICTLY CONFIDENTIAL
Slide 6: Adani Portfolio: A World Class Infrastructure & Utility Portfolio
Adani Portfolio: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Other Incubator Materials, Metal Energy & Utility Transport & Logistics Specialty & Mining (73.97%) (61.91%) (74.96%) (65.89%) (67.53%) AEL AGEL1 APL APSEZ Ports & Logi
Slide 7: Adani Portfolio: Best-in class growth with national footprint
Adani Portfolio: Best-in class growth with national footprint All figures in INR cr Predictable, high and rising free cash flow National footprint with deep coverage Tax paid EBITDA Finance cost paid 89,806 CAT (FFO) 66,527 (74%) EBITDA 24,870 AEL 12,784 APSEZ (51%) Adani’s Core Infra. AGEL 18,711 P
Slide 8: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited | ITD Cementation India Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Constr
Slide 9: AEL – Largest Listed Incubator
02 AEL – Largest Listed Incubator Hamburger Menu Icon with solid fill 9 STRICTLY CONFIDENTIAL
Slide 10: AEL: Incubation Model
AEL : Incubation Model Attractive Incubation Record Green Hydrogen Ecosystem Business Model Intend to set up integrated Proven incubation success record B2B Model manufacturing for generating low-cost Development green hydrogen ANIL Ecosystem, Data Center Year 2015 > APSEZ, APL & AESL B2C Model Year
Slide 11: AEL 2.0: Current incubation portfolio with long term growth potential
AEL 2.0: Current incubation portfolio with long term growth potential AEL Business Portfolio Infrastructure & Utility Core Portfolio Primary Industry Others Direct to Energy & Utility Transport & Logistics Services Metals consumer New Industries (End to end Green H2 Airports Mining Services Copper,
Slide 12: Business & Operational Highlights
03 Business & Operational Highlights Hamburger Menu Icon with solid fill 12 STRICTLY CONFIDENTIAL
Slide 13: AEL: Performance Highlights
AEL : Performance Highlights ❑ AAHL secured USD 750 million through External Commercial Borrowings (ECB) which will be used to refinance existing debt, invest in infrastructure upgrades, and capacity expansion across the six airports and scale the non- aeronautical businesses Airports ❑ AAHL secured
Slide 14: Energy & Utility – Adani New Industries Limited (ANIL)
AEL : Energy & Utility – Adani New Industries Limited (ANIL) Integrated Manufacturing Module sales in MW Plant Capacity Status Solar Cell & Module 2.0 GW ▪ Operational 1,379 1,350 (MonoPerc) Cell & Module 808 704 2.0 GW ▪ Operational (TopCon) Cell & Module ▪ Financial Closure achieved 571 646 6.0 GW
Slide 15: Energy & Utility – Adani ConneX (ACX)
AEL : Energy & Utility – Adani ConneX (ACX) Empowering Digital India with a platform Total Data Centers Operational of Data Center Solutions with Strong Partnership Growth Status Capacity 33 Chennai 17 MW Phase II – Under Construction MW 50 Noida 10 MW 40 MW - C&S completed, MEP under progress MW No
Slide 16: Transport & Logistics – Adani Airport Holdings Ltd (AAHL)
AEL : Transport & Logistics – Adani Airport Holdings Ltd (AAHL) Portfolio of 8 Airports Operational Performance Operational Efficiency Security Check Queue Serving pan India presence of Pax (Mn) 100% ➢ ~22% of total passenger base 22.8 23.4 98% 96% ➢ ~21% of total air traffic movements 94% 92% ➢ ~29
Slide 17: Transport & Logistics – Adani Road Transport Ltd (ARTL)
AEL : Transport & Logistics – Adani Road Transport Ltd (ARTL) Portfolio of 14 projects Project Completion Status Operational [6] 94% NPRPL 95% Construction in progress [8] 92% VBPPL 94% HAM 89% BKRPL 93% BHRPL UPRPL HURPL 65% AVRPL 67% PRSTPL NPRPL BPRPL PPRPL 75% KSRPL BKRPL 78% KSRPL MRRPL 85% BHR
Slide 18: Primary Industry
AEL : Primary Industry Mining Services Portfolio IRM ➢ Total 15 Mining Service Contracts from 9 Customers ➢ 2 new MDO service contracts signed during the quarter ➢ Total 6 service contracts operational Activity UoM Q1-25 Q1-26 FY-25 including 1 iron ore mine ➢ Presence across 4 states with peak Sale
Slide 19: Financial Highlights
04 Financial Highlights 19 STRICTLY CONFIDENTIAL
Slide 20: AEL: Consolidated Financial Highlights Q1-26 Y-o-Y
AEL: Consolidated Financial Highlights Q1-26 Y-o-Y ₹ crore Consolidated ANIL Ecosystem Airports IRM Mining Service 26,067 4,519 2,715 11,201 1,159 22,437 2,177 (3,306) (324) 4,035 8,056 856 TOTAL INCOME Q1-25 Q1-26 Q1-25 Q1-26 Q1-25 Q1-26 Q1-25 Q1-26 (11%) 25% (28%) 35% Impacted due to low volume &
Slide 21: Debt Profile
05 Debt Profile 21 STRICTLY CONFIDENTIAL
Slide 22: AEL: Consolidated Debt Movement Q1-26 vis-à-vis March-2024
AEL: Consolidated Debt Movement Q1-26 vis-à-vis March-2024 ₹ crore Interest coverage ratio External debt External debt EBITDA from Mar-24 3.1 3.6 3.4 2.8 2.6 2.4 Rs. 23,465 cr accounted for yet to unlock ➢ Construction of Navi Mumbai Airport 37% in ➢ PPRA Payment of Three Airports Navi Mumbai Airpor
Slide 23: AEL: Consolidated Debt Details
AEL: Consolidated Debt Details ₹ crore As at Mar-24 As at Mar-25 As at Jun-25 Segment Non-Current Current Non-Current Current Total Total Total Debt Debt Debt Debt ANIL Ecosystem 4,010 2,997 546 3,543 2,902 509 3,411 Airport 19,206 27,714 143 27,857 30,771 138 30,909 Road 8,038 14,588 - 14,588 14,69
Slide 24: ESG Highlights
06 ESG Highlights 24 STRICTLY CONFIDENTIAL
Slide 25: AEL: ESG Rating & Performance Highlights
AEL: ESG Rating & Performance Highlights Ratings Performance Highlights DJSI CSA (2024) 60 Ranked among the top 5 companies in its sector globally and placed in the 97th percentile ANIL 14% 100% renewable energy water withdrawal Ecosystem in electricity mix from non-competing Denotes “Leadership Cat
Slide 26: Thank You
Thank You V20- credit metrices threshold change after Robbie sir’s comment
Slide 27: Appendix
Appendix 27 STRICTLY CONFIDENTIAL
Slide 28: AEL: Energy & Utility – Water
AEL: Energy & Utility – Water Concession Project Period Project / Location Capacity Project Status Model (In Yrs) (Const. + O&M) Prayagraj Water Pvt Ltd 326 (PWPL) / Uttar Pradesh MLD • Project Status > COD Achieved 2 + 15 HAM Bhagalpur Waste Water Ltd 45 (BWWL) / Bihar MLD • Project Status > ~95%;
Slide 29: Transport & Logistics – AAHL (Airports)
AEL: Transport & Logistics – AAHL (Airports) Volume Details Passengers (In Mn) ATM (In ‘000) Cargo (In Lacs MT) Airport Q1-25 Q4-25 Q1-26 Q1-25 Q4-25 Q1-26 Q1-25 Q4-25 Q1-26 Ahmedabad 3.1 3.7 3.5 23.8 27.4 26.6 0.3 0.3 0.3 Lucknow 1.5 1.7 1.5 12.8 11.7 10.3 0.1 0.1 0.1 Mangaluru 0.6 0.6 0.6 3.9 4.5
Slide 30: Transport & Logistics – ARTL (Roads)
AEL: Transport & Logistics – ARTL (Roads) Concession Period Length Financial Project Completion Project Model Project SPV / Location (in Yrs) (KMs) Closure Status (Const. + O&M) Bilaspur Pathrapali Road Pvt Ltd (BPRPL) / 53.3 Secured Operational 2 + 15 Chhattisgarh Suryapet Khammam Road Pvt Ltd (SKR
Slide 31: Transport & Logistics – ARTL (Roads)
AEL: Transport & Logistics – ARTL (Roads) Concession Period Project Length Financial Project Completion Project SPV / Location (in Yrs) Model (KMs) Closure Status (Const. + O&M) Maharashtra Border Check Post Network Ltd 21 BCPs Operation; 24 BCPs Secured 1.5 + 23 (MBCPNL) / Maharashtra 2 COD Achieve
Slide 32: Primary Industries – Mining Services
AEL: Primary Industries – Mining Services Peak Customer SPV Mine Service Contracts Name of Mine & State Capacity (Owner) Name PEKB, Chhattisgarh 18.0 MMT RRVUNL Parsa Kente Collieries Ltd Gare Pelma III, Chhattisgarh 5.0 MMT CSPGCL Gare Pelma III Collieries Pvt. Ltd Talabira II & III, Odisha 23.0 MM
Slide 33: Primary Industries – Commercial Mining
AEL: Primary Industries – Commercial Mining Mine Peak Name of Mine & State SPV Name Contracts Capacity Gondulpura, Jharkhand 4.0 MMT Adani Enterprises Ltd Bijahan, Odisha 5.3 MMT Mahanadi Mines and Minerals Pvt Ltd Madheri (Northwest), Maharashtra TBD MH Natural Resources Pvt Ltd Domestic Gondbahera
Slide 34: ESG Framework
ESG Framework 34 STRICTLY CONFIDENTIAL
Slide 35: AEL: ESG backed by Assurance
AEL: ESG backed by Assurance Our Key ESG Commitments • Airport and data center businesses to become operational net Guiding • Aim to achieve No-Net Loss to biodiversity and align with IBBI/ zero by 2029 and 2030 respectively Policies TNFD principles • Creating shared value for communities through in
Slide 36: AEL: Adopted UN Sustainable Development Goals
AEL: Adopted UN Sustainable Development Goals Women’s Education • Own schools, digitalization and up gradation of 1. No Poverty Multiple Govt. school to provide cost free education to the United Nations Sustainable Development Goals 2030 2. Zero Hunger Locations needy. 4. Quality Education • Project
Slide 37: AEL: Strong Governance Framework
AEL: Strong Governance Framework Key Governance Areas Key Highlights ESG Governance Structure Board Independence & ✓ 50% Independent Directors Diversity ✓ 12.5% Women Directors Board of Directors ✓ Corporate Responsibility Committee in place with 100% Independent Directors to provide Corporate assur
Slide 38: Thank You
Thank You V20- credit metrices threshold change after Robbie sir’s comment