Adani Enterprises reported strong operational growth in H1 FY27, with revenue climbing 62% to Rs 71,569 crore and EBITDA rising 56% to Rs 11,958 crore. While profit after tax faced a temporary 92% decline due to a one-time Rs 2,644 crore OFAC settlement, the company’s core business segments—including solar manufacturing and data centers—are scaling rapidly. A credit rating upgrade to AA/Stable further underscores the firm's improving financial health.
Adani Enterprises H1 FY27 Performance Update
H1 FY27 Revenue: Rs 71,569 crore (Up 62% YoY)
H1 FY27 EBITDA: Rs 11,958 crore (Up 56% YoY)
Reader Takeaway: Strong operational momentum across solar and data centers is offset by a one-time settlement charge impact.
What just happened
Adani Enterprises has released its consolidated financial results for the first half of FY27, showcasing aggressive growth in its core incubation businesses. The firm achieved an EBITDA of Rs 11,958 crore, a 56% increase compared to the same period last year. Total income grew to Rs 71,569 crore. Despite these gains, the company’s H1 PAT fell to Rs 332 crore, primarily due to an exceptional one-time OFAC settlement expense of Rs 2,644 crore recorded during Q1.
Why this matters
The results highlight the successful execution of capital-intensive projects. The company successfully hit a 10 GW milestone for solar module capacity, with 4.3 GW added in September 2026 alone. Additionally, the data center division, AdaniConnex, secured a significant 240 MW hyperscale order in Navi Mumbai, signaling strong demand. The CARE rating upgrade to AA/Stable validates the improved financial stability of the company as it moves past its initial investment phases.
Risks to watch
Investors should monitor segment-specific profitability closely. The airport segment reported a loss before tax of Rs 484 crore for H1, driven by higher depreciation costs linked to the capitalization of the Navi Mumbai airport. Furthermore, while the OFAC settlement is a one-time event, it serves as a reminder of the potential for unexpected non-operational charges to weigh on reported earnings.
What to track next
The focus will remain on the ramp-up of the copper plant, which saw a 5.2x increase in sales volume, and the continued construction of the 6 GW solar cell line. Market participants will look for sustained EBITDA margins as these new assets transition from the construction phase to full commercial operations.