Adani Enterprises Q2 FY27 revenue jumps 74% to ₹38,023 crore; EBITDA up 62%
Synopsis
Adani Enterprises posted its sharpest quarterly revenue jump in recent memory — up 74% to ₹38,023 crore — while its copper venture delivered sales volumes 5.2 times higher than a year ago. A historic CARE Ratings upgrade to AA caps a quarter that shows the conglomerate's diversification push is beginning to convert ambition into numbers.
Key Takeaways
Adani Enterprises Limited (AEL) reported Q2 FY27 consolidated revenue of ₹38,023 crore , up 74% year-on-year.
EBITDA rose 62% to ₹6,316 crore ; continuing PBT surged 146% to ₹2,002 crore .
H1 FY27 revenue climbed 62% to ₹71,569 crore ; copper business alone contributed EBITDA of ₹2,033 crore with volumes up 5.2 times YoY.
Adani New Industries Limited (ANIL) expanded solar module capacity to 10 GW after commissioning a 4.3 GW TopCon line in September 2026 .
AdaniConnex secured a 240 MW hyperscale data centre order in Navi Mumbai .
CARE Ratings upgraded AEL's long-term credit rating to AA Stable — the company's highest-ever rating.
Adani Enterprises Limited (AEL), the flagship company of the Adani Group, on Wednesday, 28 October 2026, reported a strong set of numbers for the second quarter of FY27, with consolidated revenue surging 74% year-on-year to ₹38,023 crore. EBITDA rose 62% year-on-year to ₹6,316 crore, while continuing profit before tax (PBT) more than doubled, climbing 146% to ₹2,002 crore, according to the company's stock exchange filing.
Key Financial Highlights
For the first half of FY27, AEL's consolidated revenue climbed 62% to ₹71,569 crore, while EBITDA increased 56% to ₹11,958 crore. Continuing PBT for the six-month period grew 45% to ₹3,297 crore. The company attributed a significant portion of this growth to the rapid scale-up of its copper business, which alone contributed EBITDA of ₹2,033 crore during H1 FY27, with sales volumes rising 5.2 times year-on-year.
What Gautam Adani Said
Adani Group Chairman Gautam Adani said the results reflected the maturity of investments made over several years and the ability of multiple businesses to achieve scale. 'We live in an age of such intense disruption that the scale of our ambitions must continuously grow. What Adani Enterprises has become very effective at is turning increasingly large and complex commitments into execution at scale across our businesses,' he stated.
Adani further noted: 'Our investments in integrated energy, airports and AI ecosystems are recent examples. Perhaps, the strongest validation of our execution capabilities is the trust domestic and global investors continue to place in us, choosing to partner with us even amid extreme volatility.'
Emerging Business Segments
AEL recorded notable progress across its newer verticals. Adani New Industries Limited (ANIL) expanded its solar module manufacturing capacity to 10 GW following the commissioning of a 4.3 GW 'TopCon' module line in September 2026. In digital infrastructure, AdaniConnex secured a new hyperscale order of 240 MW for its Navi Mumbai data centre, signalling growing traction in the AI and cloud-computing infrastructure space.
Credit Rating Upgrade
AEL's financial standing received a further boost when CARE Ratings upgraded its long-term credit rating to AA with a 'Stable' outlook during the quarter — the highest credit rating the company has achieved in its history. This upgrade is likely to lower borrowing costs and improve access to institutional capital at a time when the conglomerate is executing large-scale capital-intensive projects.
What This Means Going Forward
The results come as AEL continues to diversify away from its traditional trading and mining roots toward high-margin, capital-intensive sectors including green energy, data centres, and copper manufacturing. The copper segment's rapid ramp-up — with sales volumes growing more than five-fold — points to early returns on what has been one of the group's most closely watched new ventures. With the CARE Ratings upgrade and strong H1 momentum, analyst attention will now focus on whether AEL can sustain this trajectory through the second half of FY27.
Point of View
But the more telling number is copper: sales volumes up 5.2 times in a single half-year signal that AEL's riskiest new bet is scaling faster than sceptics expected. The CARE Ratings AA upgrade matters beyond optics — it lowers the cost of the enormous capital the group needs to fund airports, data centres, and green energy simultaneously. What the results do not settle is the question of earnings quality: with continuing PBT at ₹2,002 crore against an EBITDA of ₹6,316 crore, the gap between operating profit and bottom-line profit remains wide, reflecting the heavy depreciation and interest burden of a conglomerate in aggressive build-out mode. The real verdict on this quarter will come when analysts parse working capital and debt levels — numbers that matter as much as the top-line surge.
NationPress
28 Oct 2026
Frequently Asked Questions
What were Adani Enterprises' Q2 FY27 results?
Adani Enterprises reported Q2 FY27 consolidated revenue of ₹38,023 crore, up 74% year-on-year, with EBITDA rising 62% to ₹6,316 crore and continuing PBT surging 146% to ₹2,002 crore, according to the company's stock exchange filing on 28 October 2026.
What drove Adani Enterprises' revenue growth in H1 FY27?
The rapid scale-up of AEL's copper business was a key driver, contributing EBITDA of ₹2,033 crore in H1 FY27 with sales volumes growing 5.2 times year-on-year. Diversified growth across green energy, airports, and digital infrastructure also supported the overall numbers.
What is the significance of CARE Ratings upgrading AEL to AA?
The upgrade to AA with a Stable outlook is the highest long-term credit rating Adani Enterprises has ever achieved. It is expected to reduce the company's borrowing costs and improve access to institutional capital, which is critical given AEL's ongoing large-scale investments.
What progress did Adani New Industries and AdaniConnex make this quarter?
Adani New Industries Limited expanded its solar module manufacturing capacity to 10 GW after commissioning a 4.3 GW TopCon module line in September 2026. AdaniConnex, AEL's data centre arm, secured a 240 MW hyperscale order for its Navi Mumbai facility.
What did Gautam Adani say about the Q2 results?
Adani Group Chairman Gautam Adani said the earnings growth reflected the maturity of past investments and the ability of the group's businesses to achieve scale. He cited integrated energy, airports, and AI ecosystems as recent examples and pointed to continued investor trust as validation of execution capability.
