Adani Enterprises Limited (AEL) has announced the formation of a new wholly-owned subsidiary, Brahmani Barrage Water Limited (BBWL), marking its entry into the water infrastructure sector. This strategic move aligns with the company's diversification efforts and its focus on infrastructure development.

Key Details of the New Subsidiary

Project Specifics

BBWL has been established with a specific purpose: to undertake the construction of the Brahmani Barrage across the Brahmani River. The project details are as follows:

• Location: Near Shripura, Tehsil Rawatbhata, District Chittorgarh, Rajasthan
• Project Model: Hybrid Annuity Model
• Scope: Construction, Operation, and Maintenance (O&M) of the barrage

This initiative represents Adani Enterprises' expansion into water resource management, potentially opening up new revenue streams for the company.

Strategic Implications

The formation of BBWL demonstrates Adani Enterprises' commitment to diversifying its portfolio and entering critical infrastructure sectors. Water resource management is increasingly becoming a crucial area of focus, given the growing concerns about water scarcity and the need for efficient water management systems across India.

By venturing into this sector, Adani Enterprises is positioning itself to play a role in addressing India's water infrastructure needs while potentially creating long-term value for its shareholders.

Financial Considerations

As BBWL is newly incorporated, it is yet to commence business operations and therefore has no turnover to report. The financial impact of this subsidiary on Adani Enterprises' overall performance will become clearer as the Brahmani Barrage project progresses.

Adani Enterprises continues to demonstrate its ability to identify and pursue opportunities in various infrastructure sectors, reinforcing its position as a player in India's infrastructure development landscape.

Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has announced its financial results for the second quarter, showcasing resilience amid market challenges.

Financial Highlights

For Q2, AEL reported:

• Total income of ₹21,844.00 crore, down 6% year-over-year
• EBITDA of ₹3,902.00 crore, a 10% decrease year-over-year
• Profit before tax (PBT) of ₹4,398.00 crore, including an exceptional gain of ₹3,583.00 crore
• Profit after tax (PAT) of ₹3,199.00 crore, up 84% year-over-year

The company's performance was marked by growth in its incubating businesses, particularly in the airports and new energy ecosystem segments.

Airports Business Performance

AEL's airports business, under Adani Airport Holdings Ltd (AAHL), demonstrated growth:

• Total income increased by 39% to ₹3,167.00 crore
• EBITDA rose by 43% to ₹1,062.00 crore
• Passenger movement across AAHL's seven operational airports grew by 1% to 22.6 million

New Energy Ecosystem Results

The New Energy Ecosystem, including Adani New Industries Limited (ANIL), reported:

• Total income of ₹3,199.00 crore, up 3% year-over-year
• EBITDA of ₹1,172.00 crore, a 5% increase year-over-year

ANIL's wind turbine generator (WTG) sales increased by 87% year-over-year to 28 sets.

Strategic Developments

AEL announced several key strategic initiatives:

1. Rights Issue Approval: The Board of Directors approved a ₹250.00 billion rights issue of partly paid-up equity shares.

2. Rights Issue Committee Meeting: Adani Enterprises has scheduled a Rights Issue Committee meeting for November 11, 2025, to finalize details of the rights issue.

3. Navi Mumbai International Airport: The greenfield airport was inaugurated on October 8.

4. Data Center Partnership: AdaniConnex partnered with Google to develop an AI Data Center campus in Visakhapatnam, Andhra Pradesh.

5. Road Infrastructure: AEL received Provisional Commercial Operation Date (PCOD) for its Nanasa-Pidgaon project, bringing its total operational road assets to seven.

6. New Project Awards: The company secured Letters of Award for three projects in Roads and two in Water business, with a cumulative order book of ₹19,982.00 crore.

Management Commentary

Gautam Adani, Chairman of the Adani Group, stated, "With disciplined execution and strategic diversification, Adani Enterprises Ltd continues to strengthen its position as India's leading incubator of transformative infrastructure and energy businesses. The inauguration of the Navi Mumbai International Airport marks a defining moment in India's infrastructure story and reinforces AEL's role as a national growth catalyst."

Outlook

AEL's performance reflects its business model and focus on core infrastructure sectors. The company's incubating businesses, particularly airports and new energy, are showing growth trajectories. With the upcoming rights issue and strategic partnerships in place, AEL aims to capitalize on India's infrastructure and energy transition opportunities.