Skip to content
Adani Enterprises logo

Adani Enterprises

ADANIENT NSE
₹2,709.20 +115.90 (+4.47%)
P/E
Not meaningful: last twelve months’ earnings are mostly a one-off item
View as Markdown
MCP
Close 4 Nov 2026 ₹2,709.20 +465.51 +20.7% 1Y
Start ₹2,243.69

Key Fundamentals

LargecapMetals & Minerals TradingMetals & Mining

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
5.80%
Debt to Equity
1.20
EPS (TTM)
₹44.82
Book Value
₹723.73
Market Cap
—
P/E (TTM)
Not meaningful: last twelve months’ earnings are mostly a one-off item
P/B
3.74
ROE
4.48%
Dividend Yield
0.05%
EBITDA
₹16,464 Cr
52W High
₹3,245.00
52W Low
₹1,753.00
Day Range
₹2,579.30 – ₹2,712.20
Volume
22,10,845

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

39 Weak

Data confidence 100/100

Category scores

Quality
19
Poor
Returns, margins, earnings quality 22% weight
Valuation
28
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
18
Poor
Solvency, leverage, coverage 9% weight
Momentum
61
Good
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company is expected to give good quarter

Weaknesses

7
  • Stock is trading at 3.60 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -2.87%
  • Company has a low return on equity of 7.31% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.5,821 Cr.
  • Dividend payout has been low at 2.83% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish649
OscillatorsBullish243
Moving AveragesStrong Bullish406

Key readings

RSI (14)
52.18
Neutral
MACD (12,26,9)
−63.99
Bullish
SMA (50)
2,824.87
Bearish
SMA (200)
2,610.55
Bullish

As of

Analyst Rating

Based on 3 analysts
BUY100%

3 of 3 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
3
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+11.44%
5Y+20.51%
3Y−7.64%
1Y+2.63%
TTM+36.95%

Net profit

Net profit growth by window
10Y+25.83%
5Y+56.92%
3Y+60.16%
1Y+24.31%
TTM−38.39%

Operating cash flow

Operating cash flow growth by window
10Y−7.45%
5Y−10.23%
3Y−48.86%
1Y−47.77%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+8.98 pp
5Y+7.59 pp
3Y+7.02 pp
1Y−0.63 pp
TTM−0.35 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹36,533 Cr
Mar 2018₹35,924 Cr
Mar 2019₹40,379 Cr
Mar 2020₹43,403 Cr
Mar 2021₹39,537 Cr
Mar 2022₹69,420 Cr
Mar 2023₹1,27,540 Cr
Mar 2024₹96,421 Cr
Mar 2025₹97,895 Cr
Mar 2026₹1,00,469 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹925 Cr
Mar 2018₹594 Cr
Mar 2019₹506 Cr
Mar 2020₹1,040 Cr
Mar 2021₹1,046 Cr
Mar 2022₹788 Cr
Mar 2023₹2,422 Cr
Mar 2024₹3,335 Cr
Mar 2025₹8,005 Cr
Mar 2026₹9,951 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹23,595 Cr +43.3% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 29 Oct 2026
AI opinion · based on fundamentals
Risk high

Adani Enterprises Ltd trades at ₹2,607.9 as of 2026-10-29 with a market cap of ₹3,52,961 Cr and a P/E (TTM) of 58.19x. The company has delivered strong TTM sales growth of 37% and TTM profit growth of 21%, but carries a debt-to-equity ratio of 1.32 and a 3-year average ROE of only 7%, reflecting a tension between its growth trajectory and return efficiency.

Bull Case 7
  • TTM revenue growth stands at 37%, a sharp acceleration from the 3-year compounded sales CAGR of -8%, signalling a strong rebound in top-line momentum
  • TTM compounded profit growth of 21% indicates improving profitability alongside the revenue recovery
  • 10-year stock CAGR of 51% reflects significant long-term wealth creation for shareholders over the past decade
  • 5-year compounded sales CAGR of 21% and profit CAGR of 22% demonstrate a sustained medium-term growth track record
  • The stock has appreciated 48.8% from its 52-week low of ₹1,753, showing strong recovery momentum from its trough
  • Company is expected to deliver a good upcoming quarter, which could act as a near-term positive catalyst
  • 10-year compounded profit CAGR of 11% and sales CAGR of 11% show the company has been able to scale earnings in line with revenue over a long period
Bear Case 8
  • P/E (TTM) of 58.19x is elevated, demanding sustained high earnings growth to justify the valuation
  • 3-year average ROE of just 7% and last-year ROE of 4% indicate poor capital efficiency relative to the premium valuation
  • Debt-to-equity ratio of 1.32 is notable, and a low interest coverage ratio raises concerns about the company's ability to comfortably service its debt
  • Earnings include other income of ₹5,821 Cr, which means a significant portion of reported profit may not be from core operations
  • Promoter holding decreased by 2.87% in the last quarter, which could signal reduced insider confidence or stake monetisation
  • Price-to-book ratio of 3.60x is steep given that ROCE stands at only 9.64%, suggesting the market is paying a large premium over asset value for modest returns on capital
  • Dividend payout has been just 2.83% of profits over the last 3 years with a current yield of only 0.05%, offering virtually no income return to shareholders
  • The company might be capitalising interest costs, which would overstate reported profitability and understate true operating expenses

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Adani Enterprises is delivering strong top-line and operating growth — Q2 revenue up 75%, EBITDA up 62%, and pre-exceptional profit doubling — driven primarily by the Mundra copper smelter ramping to 64% utilization. Key risks include margin compression from the copper mix shift, a rising net debt/EBITDA ratio of 3.9x, thin interest coverage of 1.28x, and earnings volatility from large one-offs like the OFAC settlement. The balance sheet has been strengthened by the ₹15,000 crore QIP, but ROCE is trending down at 5.2%. The trend is one of heavy investment transitioning toward cash generation, with the next 12 months critical for proving that capital-intensive asset ramp-ups in copper, airports and data centres can deliver sustainable returns.

Headwinds 8
  • Net profit down 55% YoY Oct 28

    Consolidated net profit fell 55% to ₹1,492 crore in Q2 FY27 vs ₹3,304 crore a year ago, though the base was inflated by ₹3,583 crore in exceptional gains last year.

  • OFAC settlement drags H1 profit Oct 28

    H1 FY27 profit attributable to owners fell 92% to ₹332 crore, weighed by a ₹2,644 crore charge in Q1 for a USD 275 million OFAC settlement.

  • Margin compression from copper mix Oct 28

    EBITDA margin contracted 80 bps to ~15.2% as copper (now ~40% of revenue) carries long-term margins of ~5%, down from ~7% currently, compressing overall profitability.

Positives 8
  • Revenue surges 75% to ₹38,023 cr Oct 28

    Q2 FY27 revenue from operations jumped 75% YoY to ₹38,023 crore, with EBITDA rising 62% to ₹6,316 crore — the highest-ever half-year EBITDA of ₹11,958 crore.

  • Copper smelter ramps up massively Oct 28

    Copper segment revenue surged to ₹14,772 crore from ₹1,359 crore YoY, with production at 80.2 KT (vs 12.9 KT) at 64% utilization of the 500 KTPA Gujarat smelter.

  • Pre-exceptional profit doubles (+146%) Oct 28

    Profit before exceptional items and tax more than doubled to ₹2,002 crore from ₹814 crore, a 146% jump that strips out one-off distortions.

Neutral 2
  • Q2 results announced Oct 28 Oct 13

    Board met October 28 to approve Q2 FY27 unaudited results, with trading window closed from October 1 until 48 hours post-announcement.

  • Annual conference in Singapore Oct 7

    Adani Enterprises will host its Annual Conference 2026 in Singapore on November 18-19, featuring one-on-one and group meetings with investors and analysts.

Quarterly Results

₹ Cr
ADANIENT quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
19,546
25,050
29,180
25,472
22,608
22,848
26,966
21,961
21,249
24,820
32,439
32,924
37,216
Expenses
17,116
21,824
25,985
21,767
18,842
19,778
23,256
18,651
17,942
21,178
28,709
27,905
31,707
Operating Profit
2,430
3,226
3,195
3,706
3,766
3,070
3,710
3,310
3,307
3,642
3,731
5,019
5,509
OPM %
12%
13%
11%
15%
17%
13%
14%
15%
16%
15%
12%
15%
15%
Other Income
461
490
−176
594
588
652
4,582
475
4,179
6,288
748
−2,022
807
Interest
1,343
597
1,513
1,130
910
2,141
1,796
1,035
1,711
1,626
1,646
2,421
2,296
Depreciation
757
760
811
934
1,035
1,006
1,236
1,284
1,377
1,372
2,103
1,926
2,018
PBT
791
2,361
694
2,236
2,409
576
5,259
1,466
4,398
6,932
729
−1,349
2,002
Tax %
50%
19%
62%
26%
21%
103%
24%
39%
23%
20%
117%
16%
47%
Net Profit
333
1,973
352
1,772
1,989
229
4,015
976
3,414
5,727
−167
−1,462
1,221
EPS (₹)
1.78
14.79
3.53
11.39
13.64
0.45
29.74
6.85
25.56
43.53
−0.81
−8.92
11.02

Profit & Loss

₹ Cr
ADANIENT profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
64,465
34,008
36,533
35,924
40,379
43,403
39,537
69,420
1,27,540
96,421
97,895
1,00,469
1,27,398
Expenses
52,015
32,325
34,631
33,886
38,409
41,108
37,031
65,707
1,18,722
85,044
83,643
86,478
1,09,498
Operating Profit
12,450
1,684
1,902
2,038
1,969
2,294
2,506
3,714
8,818
11,377
14,252
13,991
17,900
OPM %
19%
5%
5%
6%
4.9%
5%
6%
5%
7%
12%
15%
14%
14%
Other Income
792
1,044
749
363
504
872
494
1,012
834
1,146
6,403
11,688
5,821
Interest
7,056
1,357
1,257
1,250
1,625
1,572
1,377
2,526
3,969
4,555
5,978
6,019
7,990
Depreciation
3,522
314
315
664
390
472
537
1,248
2,436
3,042
4,211
6,135
7,418
PBT
2,663
1,056
1,079
487
459
1,122
1,086
952
3,247
4,926
10,466
13,525
8,313
Tax %
14%
7%
25%
23%
32%
29%
31%
50%
32%
33%
28%
28%
—
Net Profit
2,298
1,000
925
594
506
1,040
1,046
788
2,422
3,335
8,005
9,951
5,319
EPS (₹)
15.81
8.21
8.02
6.15
5.82
9.24
7.49
6.3
19.3
25.37
55.02
72.31
44.82
Div. Payout %
8%
4%
4%
6%
6%
10%
12%
14%
6%
5%
2%
2%
—

Balance Sheet

₹ Cr
ADANIENT balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
110
110
110
110
110
110
110
110
114
114
115
129
135
Reserves
25,618
13,268
14,026
14,979
14,646
16,837
17,049
22,147
32,937
38,962
50,199
80,797
97,817
Borrowings
83,571
19,169
20,846
17,637
11,243
12,419
16,227
41,604
53,200
65,310
91,473
1,06,622
1,17,933
Other Liabilities
21,420
9,132
12,630
23,679
16,537
17,509
18,231
37,726
55,027
56,200
56,056
73,321
78,973
Total Liabilities
1,30,718
41,679
47,611
56,405
42,536
46,875
51,617
1,01,586
1,41,278
1,60,586
1,97,843
2,60,868
2,94,858
Fixed Assets
83,834
10,473
13,668
10,555
9,020
10,476
10,838
30,123
56,881
65,978
77,260
1,15,174
1,37,916
CWIP
6,733
7,705
7,731
5,526
5,765
7,347
8,825
23,544
24,025
35,180
51,516
51,753
37,634
Investments
744
805
1,042
1,461
1,511
1,952
5,503
4,292
6,310
8,701
9,887
9,428
14,088
Other Assets
39,407
22,696
25,170
38,864
26,240
27,099
26,451
43,627
54,062
50,728
59,180
84,513
1,05,220
Total Assets
1,30,718
41,679
47,611
56,405
42,536
46,875
51,617
1,01,586
1,41,278
1,60,586
1,97,843
2,60,868
2,94,858

Cash Flow

₹ Cr
ADANIENT cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
8,532
5,112
774
2,942
3,236
2,454
4,043
1,385
17,626
10,312
4,513
2,357
Investing
−11,465
−1,825
−1,460
−7,649
2,487
−1,082
−8,611
−17,041
−15,459
−18,767
−26,417
−27,680
Financing
3,445
−3,448
716
5,120
−6,158
−221
3,109
15,901
−1,198
8,879
22,655
28,484
Net Cash Flow
512
−161
30
413
−436
1,151
−1,459
246
970
424
751
3,161
Free Cash Flow
−621
−778
−3,373
−4,352
1,471
−268
684
−10,260
2,972
−11,934
−25,002
−30,993
CFO/EBITDA
75
317
52
157
175
119
166
43
210
106
46
36

Ratios

ADANIENT financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
87
109
127
123
129
111
111
72
36
37
36
46
Inventory Days
35
17
19
28
29
27
21
46
27
69
73
126
Days Payable
89
69
101
104
133
126
142
120
111
179
151
185
Cash Conversion Cycle
33
57
46
47
26
11
−10
−2
−49
−73
−42
−13
Working Capital Days
−81
−2
−19
−8
−10
−21
−31
−89
−38
−61
−59
−45
ROCE %
9%
3%
7%
6%
7%
9%
8%
7%
9%
10%
9%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Adani Enterprises insights

64 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 71.97%
  • FIIs 10.66%
  • DIIs 10.62%
  • Others 3.97%
  • Public 2.78%

0.79% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Adani Enterprises

What does Adani Enterprises Ltd do?
Adani Enterprises Ltd has business interests in various economic areas such as mining, integrated resources management (IRM), infrastructure such as airports, roads, rail/ metro, water, data centres, solar manufacturing, agro and defence.
Where is Adani Enterprises Ltd (ADANIENT) listed?
Adani Enterprises Ltd trades as ADANIENT on the NSE and under code 512599 on the BSE.
Which sector does Adani Enterprises Ltd belong to?
Adani Enterprises Ltd is classified under the Commodities sector, in the Metals & Minerals Trading industry.
What is the 52-week high and low of Adani Enterprises Ltd?
Over the last 52 weeks Adani Enterprises Ltd has traded between ₹1,753 and ₹3,245 as of 4 Nov 2026.
Does Adani Enterprises Ltd pay dividends?
Adani Enterprises Ltd has a dividend yield of 0.05%.
What is the Return on Equity (ROE) of Adani Enterprises Ltd?
Adani Enterprises Ltd reported a return on equity of 4.48%. Its debt-to-equity ratio is 1.20.

Company Information

Adani Enterprises Ltd has business interests in various economic areas such as mining, integrated resources management (IRM), infrastructure such as airports, roads, rail/ metro, water, data centres, solar manufacturing, agro and defence.

Website adani.com
CEO Mr. Gautambhai Shantilal Adani S.Y. B.Com
Employees 11,571
Listed 25 Nov 1994
Face Value ₹1

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/ADANIENT.md for Adani Enterprises Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Metals Trading stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month