Adani Enterprises rises nearly 2% after Jefferies says copper, road business to see ramp up in FY27

Shares of billionaire Gautam Adani-backed Adani Enterprises rose as much as 2.17% to hit an intraday high of ₹2,190.90 on Thursday, April 16, on the National Stock Exchange (NSE). On the BSE, Adani Enterprises shares advanced as much as 2.09%.

Adani Enterprises shares came under buying interest after global investment firm Jefferies in a note said that its copper and road business will see a ramp up during the current financial year. The investment firm added that renewable energy segment is emerging as a key growth driver amid strong energy-security tailwinds. The group’s planned solar capacity expansion at Mundra is expected to boost earnings, with a meaningful EBITDA uplift likely from current financial year as projects stabilise and scale.

Jefferies said that Adani Enterprises is witnessing near-term pressure due to softer non-terminal (NT) traffic, which is delaying the ramp-up of the Navi Mumbai International Airport (NMIAL). The slower passenger momentum is expected to weigh on the pace of scale-up at one of the group’s most critical infrastructure assets.

However, the impact is being partially offset by steady growth in non-aeronautical revenues, including retail, concessions and real estate (RE) monetisation linked to airport ecosystems, Jefferies noted.

The investment firm has pruned its EBITDA estimate by 3.7% to factor in the impact of geopolitical headwinds.

Adani Enterprises Q3 earnings

Adani Enterprises reported a multifold jump in its consolidated net profit in the third quarter of previous financial year. Its net profit came in at ₹5,627 crore compared to ₹58 crore logged during the same period last year. The firm’s Q3 FY26 post-tax profit included an exceptional gain of ₹5,632.09 crore.

The company's revenue from operations increased 8.6% to ₹24,820 crore in the October-December quarter as against ₹22,848 crore seen in the year-ago period.

The company’s operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), rose 62% to ₹3,774 crore as compared to ₹2,335 crore in the corresponding quarter of the previous fiscal year.

Its EBITDA margin, however, expanded to 15.2% in the reporting quarter from 10.2% in Q3 FY25.

As of 11:23 am, Adani Enterprises shares traded 1.56% higher at ₹2,177.80, outperforming the NIFTY50 index which was trading on a flat note.