Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — Q1 FY27 Earnings Presentation
41 slides from Adani Enterprises's earnings presentation, July 2026
Slide 1: Adani Enterprises Limited Earnings Presentation Q1 FY27
Adani Enterprises Limited Earnings Presentation Q1 FY27
Slide 2: Consolidated Financial Highlights Q1-27
Adani Enterprises Limited (“AEL”): Consolidated Financial Highlights Q1-27 ₹ crore Results at glance Total Income 50% EBITDA 49% PBT 33,546 5,642 1,466 # 8,615 1,295 2,894 3,786 22,437 3% 353 9,018 2,800 1,438 24,932 86% 1.8x 942 32x 2,748 13,419 986 28 Q1-26 Q1-27 Q1-26 Q1-27 Q1-26 Q1-27 Establishe
Slide 3: Value Unlocking and Ramp up of Growth
AEL: Value Unlocking and Ramp up of Growth ₹ crore AEL’s Diversified EBITDA Highest ever quarterly EBITDA of Rs. 5,642 Business Portfolio cr with increase of 49% Y-o-Y Q1-26 Q1-27 Core Infra Platform ❑ 1.7 GW module line operational from 12 June ‘26 • New Energy Ecosystem ❑ Navi Mumbai Airport ramp
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
Slide 5: Adani Portfolio Overview
01 Adani Portfolio Overview 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 (74.84%) (62.43%) (74.96%) (66.03%) (67.29%)3 AEL1 AGEL APL APSEZ Ports & Log
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 EBITDA Tax paid 94,834 Finance cost paid CAT (FFO) 67,995 (72%) EBITDA 24,870 AEL 12,784 APSEZ (51%) 22,259 Adani’s Core Infra. AGEL (
Slide 8: 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 | Cemindia Projects Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Constructi
Slide 9: AEL – Largest Listed Incubator
02 AEL – Largest Listed Incubator STRICTLY CONFIDENTIAL
Slide 10: 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 Energy & Utility Transport & Logistics Services Metals Specialty New Industries (End to end Green H2 Airports Mining Services Copper, Aluminium
Slide 12: Business & Operational Highlights
03 Business & Operational Highlights STRICTLY CONFIDENTIAL
Slide 13: Performance Highlights
AEL: Performance Highlights ❑ NMIA officially commenced international flight operations on July 15, 2026 Airports ❑ Aero and non-aero revenue delivered robust YoY growth of 16% and 53% respectively in Q1-27 New Energy ❑ Adani Solar Module line capacity expanded to 5.7 GW, by commissioning of 1.7 GW
Slide 14: Energy & Utility – Adani New Industries Limited (ANIL)
AEL: Energy & Utility – Adani New Industries Limited (ANIL) Integrated Manufacturing Plant Capacity Status Solar Module sales in MW Cell & Module 2.0 GW ▪ Operational 1,350 1,340 (MonoPerc) 0 Cell & Module 2.0 GW ▪ Operational (TopCon) 704 ▪ Module line of 1.7 GW operational Cell & Module 1340 6.0 G
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 I – 17 MW completed MW 50 Noida 10 MW 40 MW - All C&S completed, MEP under progress MW Noi
Slide 16: Transport & Logistics – Adani Airport Holdings Ltd (AAHL)
AEL: Transport & Logistics – Adani Airport Holdings Ltd (AAHL) Portfolio of 8 Airports Aero Performance Serving pan India presence of 24.2 23.4 ➢ ~23% of total passenger base Pax (Mn) ➢ ~21% of total air traffic movements 3% ➢ ~29% of total cargo volume Q1-26 Q1-27 160.4 153.6 Jaipur Lucknow Guwahat
Slide 17: Transport & Logistics – AAHL Revenue
AEL: Transport & Logistics – Adani Airport Holdings Ltd (AAHL) ₹ crore Revenue Mix Q1-27 Revenue Growth Total Income Q1-26 Q1-27 FY26 Aero Non-Aero Aero 1,084 1,258 4,948 - Up by 16% Y-o-Y - Up by 53% Y-o-Y 33% 57% - Insourcing of advertisement and lounge Non-Aero 1,399 2,136 6,401 - Driven by opera
Slide 18: AAHL Operational Efficiency and Non-Aero Performance
AEL: Transport & Logistics – Adani Airport Holdings Ltd (AAHL) ₹ crore Operational Efficiency Non-Aero Performance Security Check Queue % Non Aero Revenue Q1-26# Q1-27 change 100% 98% 96% Duty Free 458 572 25% 94% 92% F&B and Lounge 231 359 55% AMD LKO IXE BOM JAI GAU TRV Lease & Retails 263 494 88%
Slide 19: Transport & Logistics – Adani Road Transport Ltd (ARTL)
AEL : Transport & Logistics – Adani Road Transport Ltd (ARTL) Portfolio of 21 projects Project Status HAM 76% AVRL 78% SKRL 86% BOT KSRL 90% BHRL Till Q4-26 Till Q1-27 UPRL HURL SSRL SVVPL MSRL PRSTL IGRL NPRL BPRPL PPRL Model Operational In Progress New Project DPJRL BKRL HAM Project 7 1 3 KSRL MRR
Slide 20: Primary Industry – Mining Services and IRM
AEL: Primary Industry – Mining Services and IRM Mining Services Portfolio Integrated Resource Management (IRM) Total Peak Capacity 145.4 MMTPA ➢ Total 18 Mining Service Contracts Activity Q1-26 Q1-27 % FY26 Change from 11 Customers across 6 states Ramp up in progress ➢ Total 8 service contracts oper
Slide 21: Primary Industry – Commercial Mining and Metals
AEL: Primary Industry – Commercial Mining and Metals Commercial Mining Copper ➢ Copper smelting and refining complex strategically located in ➢ Carmichael mine in Australia is the only operational mine with peak Mundra, Gujarat having capacity of 500 KTPA capacity of 15 MMTPA ➢ During Q1, Copper pla
Slide 22: Financial Highlights
04 Financial Highlights STRICTLY CONFIDENTIAL
Slide 23: Consolidated Financial Highlights Q1-27 Y-o-Y
AEL: Consolidated Financial Highlights Q1-27 Y-o-Y ₹ crore ANIL Ecosystem Airports IRM Mining Services Copper 4,035 3,937 3,763 8,056 1,159 1,174 10,922 7,424 2,715 Total Income 560 Q1-26 Q1-27 Q1-26 Q1-27 Q1-26 Q1-27 Q1-26 Q1-27 Q1-26 Q1-27 ▼2% ▲39% ▲1% ▼8% ▲18x Revenue in line with volume Increase
Slide 24: Debt Profile
05 Debt Profile STRICTLY CONFIDENTIAL
Slide 25: Consolidated Debt Details
AEL: Consolidated Debt Details ₹ crore As at Mar-26 As at Jun-26 Interest coverage ratio 3.6 3.4 Working Working 3.1 Segment Long-Term Long-Term 2.4 2.6 2.6 Capital Total Capital Total Debt Debt Debt Debt ANIL Ecosystem 2,092 1,012 3,104 2,612 1,915 4,528 FY22 FY23 FY24 FY25 FY26 Q127 Airport 29,616
Slide 26: ESG Highlights
06 ESG Highlights STRICTLY CONFIDENTIAL
Slide 27: ESG Rating & Performance Highlights
AEL: ESG Rating & Performance Highlights Ratings Performance Highlights DJSI CSA (2025) 62 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 28: Thank You
Thank You V20- credit metrices threshold change after Robbie sir’s comment
Slide 29: Appendix
Appendix STRICTLY CONFIDENTIAL
Slide 30: Energy & Utility – Water
AEL: Energy & Utility – Water Concession Period Project Project / Location Capacity Project Status (In Yrs) Model (Const. + O&M) Prayagraj Water Pvt Ltd (PWPL) / 326 • COD Achieved 2 + 15 Uttar Pradesh MLD Bhagalpur Waste Water Ltd 45 • Provisional COD received 2 + 15 (BWWL) / Bihar MLD HAM Morsagar
Slide 31: Transport & Logistics – AAHL (Airports)
AEL: Transport & Logistics – AAHL (Airports) Volume Details Passengers (In Mn) ATM (In ‘000) Cargo (In Lacs MT) Airport Q1-26 Q1-27 Q1-26 Q1-27 Q1-26 Q1-27 Ahmedabad 3.5 3.6 26.6 24.9 0.3 0.4 Lucknow 1.5 1.7 10.3 11.9 0.1 0.1 Mangaluru 0.6 0.6 4.7 4.2 0.0 0.0 Jaipur 1.2 1.3 9.4 9.9 0.1 0.1 Guwahati
Slide 32: Transport & Logistics – ARTL (Roads)
AEL: Transport & Logistics – ARTL (Roads) Concession Period (in Length Financial Project Completion Project Model Project SPV / Location Yrs) (KMs) Closure Status (Const. + O&M) Bilaspur Pathrapali Road Pvt Ltd (BPRPL) / Chhattisgarh 53.3 Secured Operational 2 + 15 Suryapet Khammam Road Pvt Ltd (SKR
Slide 33: Transport & Logistics – ARTL (Roads)
AEL: Transport & Logistics – ARTL (Roads) Project Length Financial Project Completion Concession Period (in Yrs) Project SPV / Location Model (KMs) Closure Status (Const. + O&M) Kagal Satara Road Pvt Ltd (KSRPL) / Maharashtra 65.1 Secured 90.0% 2 + 16 Maharashtra Border Check Post Network Ltd (MBCPN
Slide 34: 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 35: 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 Gondbahera Ujheni, Madhya Pradesh 4.1 MMT MP Natural Resources Pvt Ltd Domestic Comme
Slide 36: ESG Framework
ESG Framework STRICTLY CONFIDENTIAL
Slide 37: 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 38: 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 39: 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 40: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Enterprises Limited (“AEL”), the future outlook and growth prospects, and futu
Slide 41: Thank You
Thank You V20- credit metrices threshold change after Robbie sir’s comment