Adani Enterprises Limited has officially filed its quarterly deviation statement for Q3FY26 with BSE Limited and National Stock Exchange of India Limited on February 3, 2026, confirming no deviation or variation in the utilization of rights issue proceeds from the stated objectives. Company Secretary & Joint President (Legal) Jatin Jalundhwala submitted the formal statement in compliance with SEBI Regulation 32 and related circular requirements.

Rights Issue Fund Utilization and Compliance

The rights issue, completed on December 11, 2025, involved partly paid-up equity shares with a total planned value of Rs. 24,930.30 crore. During Q3FY26, the company received Rs. 12,465.15 crore and utilized Rs. 8,097.56 crore according to the stated objectives in the Letter of Offer dated November 12, 2025.

Regulatory Filing Details and Monitoring Agency Confirmation

CARE Ratings Limited, serving as the appointed monitoring agency, confirmed that all fund utilization aligned with the disclosures in the offer document. The formal deviation statement submitted to both stock exchanges confirms that during the quarter ended December 31, 2025, there was no deviation or variation in fund utilization from the objects stated in the Letter of Offer.

Fund Allocation Breakdown and Implementation Status

The detailed breakdown shows Rs. 5,034.38 crore was utilized for repayment of outstanding borrowings and perpetual debt instruments of the company and its subsidiary Adani Airport Holdings Limited. General corporate purposes consumed Rs. 3,045.18 crore, while issue expenses accounted for Rs. 18.00 crore.

Audit Committee Review and Regulatory Compliance

The deviation statement, duly reviewed by the company's Audit Committee, received no comments, indicating satisfactory compliance with stated objectives. The rights equity shares were issued on a partly paid-up basis with Rs. 900 per share received on application, representing 50% of the issue price. The company confirmed that the entire money raised during Q3FY26 has been utilized for objects as stated in the Letter of Offer dated November 12, 2025.

Adani Enterprises has announced its Q3FY26 quarterly results for the quarter ended December 31, 2025, under Regulation 33 of SEBI Listing Regulations, showcasing exceptional financial performance driven by strategic divestments and operational excellence. The diversified conglomerate delivered remarkable growth with net profit surging 90 times year-on-year, primarily attributed to exceptional gains from the complete divestment of AWL Agri Business Limited.

Outstanding Financial Performance

The company's consolidated financial results for Q3FY26 demonstrated extraordinary growth across key metrics:

The exceptional profit growth was primarily driven by an exceptional gain of ₹56.32 billion from the complete divestment of AWL Agri Business Limited, while underlying business operations showed consistent improvement with EBITDA growth outpacing revenue expansion.

Nine-Month Performance Overview

For the nine months ended December 31, 2025, the company maintained strong momentum despite some revenue normalization:

Strategic Divestment and Capital Allocation

The quarter was marked by the completion of Adani Commodities LLP's strategic exit from AWL Agri Business Limited. ACLLP sold its entire remaining 20% stake - 13% to Lence Pte Limited under a share purchase agreement and 7% in the market. This transaction generated ₹56.32 billion in exceptional gains and resulted in AWL ceasing to be an associate of the company.

Capital Market Initiatives

Adani Enterprises successfully completed major capital market activities during the period:

Operational Milestones

The company achieved several significant operational developments strengthening its infrastructure portfolio:

Segment Performance Highlights

The company's diversified business segments showed mixed performance with airports leading growth:

The airports business demonstrated strong momentum with revenue growth of 28% and EBITDA expansion of 42% in Q3FY26, benefiting from increased passenger traffic and the commencement of Navi Mumbai Airport operations.

Investor Call Audio Recording Submission

Following the announcement of Q3FY26 results, the company has submitted the audio recording of the analysts/investors call to both BSE and NSE under Regulation 30 compliance. The call was held on February 3, 2026, providing detailed insights into the quarterly performance and strategic outlook.

The audio recording is accessible through the company's official website at adanienterprises.com under the investor downloads section for results conference call transcripts. This submission ensures transparency and provides stakeholders with comprehensive access to management commentary on the quarterly performance.

Leadership Commentary

Chairman Gautam Adani emphasized the company's robust operating performance and the strength of its incubator model, positioning the organization well for India's journey toward becoming a $5 trillion economy. He highlighted the commencement of operations at the Navi Mumbai International Airport as a landmark achievement, reinforcing the company's commitment to building nationally critical assets at scale and speed.

Regulatory Compliance and Governance

The Board of Directors approved the unaudited financial results at their meeting held on February 3, 2026. The results have been prepared in accordance with Indian Accounting Standards and reviewed by the statutory auditors Shah Dhandharia & Co LLP. The company has maintained security cover exceeding 110% on its listed non-convertible debentures and complied with all financial covenants. The audio recording submission demonstrates the company's commitment to transparency and regulatory compliance in investor communications.