AEL Q4 Loss, FY26 Net Profit Zooms 31%

New Delhi, Apr 30 (PTI) Adani Enterprises Ltd, the flagship firm of billionaire Gautam Adani's conglomerate, slipped into a loss in the fourth quarter, hurt by depreciation of its recently commissioned assets, including Navi Mumbai airport.

Loss of Rs 221 crore in January-March - the fourth quarter of 2025-26 fiscal year - compared with a profit of Rs 3,845 crore, according to a company statement.

The earnings, the company said, "were affected by depreciation on recently commissioned assets of Navi Mumbai and Copper Plant".

For the full fiscal (FY26), the company posted a handsome 31 per cent rise in net profit to Rs 9,339 crore.

Total income grew 20 per cent in Q4 to Rs 33,187 crore and by 3 per cent in full FY26 to Rs 1.03 lakh crore.

In the year-ago quarter, the firm's earnings got a one-time boost of Rs 3,946 crore from the sale of its stake in Adani Wilmar.

Core infra incubating businesses and mining services contribute 80 per cent of FY26 of Rs 16,464 crore EBITDA.


"With the close of fiscal 2026, AEL has transitioned to a core infrastructure-led model, with 80 per cent of its EBITDA coming from mature, long-term and contracted businesses, which significantly enhances earnings visibility," the statement said.

AEL's incubation journey has now firmly crossed milestones of initial capex-heavy and stabilisation phases, with EBITDA-mix shifting towards stability, thus positioning the company for sustained cash generation and future value unlock.

"Adani Enterprises has delivered yet another year of disciplined execution, stable EBITDA and continued momentum across our core infrastructure and incubation platforms," said Gautam Adani, Chairman of the Adani Group. "What is particularly encouraging is that the majority of the EBITDA is now led by our core infrastructure incubating businesses and stable mining services, reflecting the maturity and scale of our operating portfolio."

FY26 has also been a year of decisive progress in building and making ready some of the large infra-assets of the Navi Mumbai International Airport, Guwahati Airport and the Ganga Expressway, he said.

"As India's growth accelerates, we continue to focus on building and scaling globally competitive infrastructure businesses with our robust project pipeline," he added.

For the full fiscal, pre-tax earnings or EBITDA of the new energy business fell 5 per cent to Rs 4,532 crore, while the airport business EBITDA zoomed 55 per cent to Rs 5,394 crore, and that of the mining business rose by 18 per cent to Rs 1,986 crore. Roads business too saw earnings drop 23 per cent to Rs 1,362 crore.

In the fourth quarter, new energy business EBITDA was up 6 per cent at Rs 1,173 crore, and that of airport spiralled 75 per cent to Rs 1,670 crore, but the same from roads and mining business dropped 24 per cent and 4 per cent respectively.