November 5, 2025

Adani Enterprises is ready to shake things up with a hefty plan to raise up to ₹25,000 crore by issuing partly paid-up equity shares. This big move got the green light from the company's board on Tuesday. The fresh money will mainly help the company pay off debts and fund expansion, especially in its buzzing airport business. The September quarter brought good news as Adani Enterprises' consolidated net profit soared by 84% year-on-year to ₹3,199 crore. This huge jump came mostly from a one-time exceptional gain after selling a chunk of its stake in Adani Wilmar Ltd. Specifically, the sale of a 10.42% stake in AWL Agri Business Ltd (previously Adani Wilmar) brought in an exceptional gain of ₹3,583 crore, trimming the company’s holding from 30.42% to 20%. However, the company's performance before this exceptional gain showed some challenges. Profit before exceptional items and tax took a big hit, dropping 66% to ₹814 crore from ₹2,409 crore a year ago, mainly due to weaker earnings in trading and roads sectors. Revenue from operations also fell 6% to ₹21,249 crore, reflecting lower trading volumes and softer prices in Integrated Resources Management and mining businesses. Despite these bumps, the airport segment is flying high! Revenue from Adani Airports Holdings Ltd jumped 43% year-on-year to ₹3,167 crore in the quarter. Chairman Gautam Adani seemed pleased, saying, “Our strong performance across airports, data centres and roads underscores the momentum of our core infrastructure portfolio.” The company’s debt situation is a key reason behind the rights issue. As of September 30, Adani Enterprises’ net external debt stood at ₹60,070 crore, up from ₹49,306 crore in March 2025. The debt-to-EBITDA ratio has increased to 3.9 from 2.9 in March. If Adani Enterprises successfully raises the full ₹25,000 crore, it will be one of the group’s biggest fundraising feats. Earlier in 2023, a ₹20,000 crore follow-on offer was called off after the American short-seller Hindenburg Research raised questions about the company. Last financial year, the firm raised $500 million through a public share sale to institutional investors. So, what’s next? The rights issue will be offered to eligible shareholders on a record date to be announced soon. Meanwhile, the company rides on its strong core infrastructure businesses, aiming to power through challenges and keep the growth engines roaring.

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Tags: Adani enterprises, Rights issue, Net profit, Debt repayment, Airport Business, Adani Wilmar,