Adani Enterprises Limited has submitted its quarterly monitoring agency report for the period ended December 31, 2025, to BSE Limited and National Stock Exchange of India Limited in compliance with SEBI regulations governing funds raised through rights issues. The report, prepared by CARE Ratings Limited as the appointed monitoring agency, provides a comprehensive overview of the utilization of proceeds from the company's rights issue.

Rights Issue Details and Fund Utilization

The rights issue, conducted between November 25, 2025 and December 10, 2025, involved 13,85,01,687 partly paid-up equity shares with a total 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 offer document.

Monitoring Agency Findings

CARE Ratings Limited confirmed that all fund utilization aligned with the disclosures in the offer document, with no deviations observed. The monitoring agency verified that Rs. 5,034.38 crore was used for debt repayment purposes, while Rs. 3,045.18 crore supported general corporate activities including working capital requirements and loans/investments toward subsidiaries and joint ventures.

Deployment of Unutilized Funds

The company maintained Rs. 4,383.46 crore in unutilized proceeds as of December 31, 2025, deployed across various instruments:

Regulatory Compliance and Implementation

The formal submission was made by Company Secretary & Joint President (Legal) Jatin Jalundhwala to both stock exchanges, referencing the company's scrip codes 512599 (BSE) and ADANIENT (NSE). The report confirms that all government and statutory approvals related to the issue objectives remain in place.

All three primary objectives of the rights issue—debt repayment, general corporate purposes, and issue-related expenses—are progressing as scheduled within the planned timeframe of Fiscal 2026 and Fiscal 2027. The Board of Directors noted no delays in implementation and confirmed that utilized funds were deployed for purposes stated in the offer document.

General Corporate Purpose Breakdown

The detailed breakdown of general corporate purposes shows Rs. 2,166.18 crore allocated to investments and loans for subsidiaries and joint ventures, while Rs. 879.00 crore supported working capital requirements. The monitoring agency's report, signed by Associate Director Palak Vyas, was reviewed and approved by the company's Audit Committee before submission to stock exchanges.

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:

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.

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.

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.

Source: Adani Enterprises Limited Q3FY26 Results Announcement