Mumbai: In a significant move, Adani Enterprises Ltd, led by billionaire Gautam Adani, has approved a Rs 25,000 crore rights issue, as per its filing with the stock exchanges. The company’s Board of Directors cleared the proposal on Tuesday, stating that the fundraising will be carried out through partly paid equity shares with a face value of Rs 1 each. Only eligible shareholders will be allowed to participate in the issue, and the record date for eligibility will be announced later.
Strong Profit Growth Despite Revenue Dip
Alongside the rights issue announcement, the company declared its Q2 FY2025–26 financial results, reporting a 71 percent year-on-year rise in consolidated net profit to Rs 3,414 crore, compared to Rs 1,989 crore in the same quarter last year. Adani Enterprises attributed this jump to an exceptional gain of Rs 3,286.22 crore during the July–September quarter.
Revenue Declines 6 percent, Board Calls It Temporary
Despite the profit surge, Adani Enterprises saw a 6 percent fall in revenue from operations, which dropped to Rs 21,248 crore from Rs 22,608 crore a year earlier. The company noted that challenges in its Integrated Resource Management, commercial mining, and other income segments led to the decline, but the board termed this setback temporary.
Debt Levels Edge Up
The company’s debt-to-equity ratio rose to 1.50 from 1.34 a year earlier. The management emphasized that despite higher leverage, the company remains financially strong and is focused on maintaining balance sheet stability while pursuing growth.
Stock Performance Reflects Market Pressure
On Tuesday, shares of Adani Enterprises closed 2.72 percent lower at Rs 2,399.90 on the National Stock Exchange (NSE), falling by Rs 67.10. Over the past month, the stock has dropped by more than 6 percent, and investors have faced a 2 percent loss over six months. On a yearly basis, the shares are down nearly 17 percent, reflecting continued market volatility around Adani Group stocks.
