Adani Enterprises Limited (AEL) has outlined an ambitious capital expenditure plan for the fiscal year 2026 and announced the incorporation of a new wholly-owned subsidiary, signaling significant expansion across multiple sectors.

Capex Plan Breakdown

During a recent conference call, AEL detailed its capital expenditure guidance for FY2026, totaling INR 36,000 crores. The company plans to allocate this substantial investment across various sectors:

Operational Guidance

AEL expects to maintain a solar manufacturing run rate of 1.2 gigawatt per quarter, underlining its commitment to renewable energy. The company also indicated that revenue generation from city side development is anticipated to commence in FY2029-30.

New Subsidiary Incorporation

In a separate development, AEL has incorporated a new wholly-owned subsidiary named "Brahmani Barrage Water Limited" (BBWL) on November 5, 2025. This strategic move is aimed at expanding the company's presence in infrastructure development and water resource management.

Key details of the new subsidiary include:

• Subscribed Capital: INR 1,00,000 divided into 10,000 equity shares of INR 10 each
• Primary Objective: To construct the Brahmani Barrage across the Brahmani River near Shripura, Tehsil Rawatbhata, District Chittorgarh, Rajasthan under the Hybrid Annuity Model
• Scope: Construction, operation, and maintenance of the barrage

The incorporation of BBWL aligns with AEL's diversification strategy and its focus on infrastructure projects. This move could potentially open up new revenue streams for the company in the water management sector.

Adani Enterprises continues to demonstrate its commitment to growth across various sectors, from traditional infrastructure to renewable energy. The substantial capex plan and the formation of the new subsidiary reflect the company's strategic vision for long-term expansion and diversification.

Adani Enterprises Limited (AEL) has taken a significant step in expanding its infrastructure portfolio by incorporating a new wholly-owned subsidiary, Brahmani Barrage Water Limited (BBWL). The company made this announcement through a regulatory filing on November 5, 2025.

Key Details of the New Subsidiary

Project Objective

BBWL's primary objective is to undertake the construction of the Brahmani Barrage across the Brahmani River. The project includes operation and maintenance responsibilities and is located near Shripura, Tehsil Rawatbhata, District Chittorgarh, Rajasthan. This initiative will be executed under the Hybrid Annuity Model, a public-private partnership approach that combines elements of the EPC (Engineering, Procurement, and Construction) and BOT (Build, Operate, Transfer) models.

Strategic Implications

This move by Adani Enterprises signifies its commitment to diversifying its infrastructure portfolio and entering the water resource management sector. The establishment of BBWL aligns with the company's strategy to expand its presence in critical infrastructure projects across India.

Regulatory Compliance

AEL's announcement adheres to the regulations set by the Securities and Exchange Board of India (SEBI) under the Listing Obligations and Disclosure Requirements. The company has provided all necessary details as mandated by SEBI's circular dated November 11, 2024.

As BBWL is yet to commence its business operations, financial metrics such as turnover are currently not applicable. The development of the Brahmani Barrage project is expected to contribute to water resource management in the region, potentially impacting local agriculture and water supply systems.

Investors and stakeholders will likely monitor the progress of this new subsidiary as it begins operations and undertakes the significant infrastructure project in Rajasthan.