Financial Results for the quarter and half year ended on September 30, 2026

September 28, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001. Bandra (E), Mumbai – 400051. Scrip Code: 512599 Scrip Code: ADANIENT Dear Sir, Sub: Outcome of the meeting of the Board of Directors of Adani Enterprises Limited (the “Company”) held on October 28, 2026 In continuation to our prior intimation dated October 13, 2026, we wish to inform that the Board of Directors of the Company (“the Board”) at its meeting held on October 28, 2026 (commenced at 12:45 p.m. and concluded at 1:30 p.m.), has, inter alia, approved and taken on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026 as reviewed and recommended by the Audit Committee. The said Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, prepared in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) together with the Limited Review Reports and Security Cover Certificate of the Statutory Auditors along with the Statement of Assets and Liabilities and Cash Flow Statement for the half year ended September 30, 2026, are enclosed herewith as Annexure “A”. These results are also being uploaded on the Company’s website at www.adanienterprises.com. Kindly take the same on your records. For Adani Enterprises Limited Jatin Jalundhwala Company Secretary & Joint President (Legal) Membership No. F3064 Adani Enterprises Limited Tel + 91 79 2656 5555 “Adani Corporate House”, Fax + 91 79 2555 5500 Shantigram, Near Vaishno Devi Circle, investor.ael@adani.com S. G. Highway, Khodiyar www.adanienterprises.com Ahmedabad 382 421 Gujarat, India CIN: L51100GJ1993PLC019067 Registered Office : “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad - 382421 IND IA SHAH DHANDHARIA& CO LLP----------------- CHARTERED ACCOUNTANTS Independent Auditor's Review Report on Quarterly and Half Yearly ended Unaudited Consolidated Financial Results of the Adani Enterprises Limited pursuant to Regulation 33 and 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Adani Enterprises Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Adani Enterprises Limited ("the Parent" or "the Company") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), its jointly controlled entities and associates for the quarter and half year ended 30th September 2026 ("the Statement") being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors at their meeting held on 28th October, 2026, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standards 34 "Interim Financial Reporting" (Ind AS 34), as prescribed under section 133 of the Companies Act, 2013 as amended, read with the relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Pe1formed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants oflndia. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular No CIR/CFD/CMDl/44/2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable. 4. The Statement includes unaudited interim financial results of the subsidiaries, jointly controlled entities and associates as per annexure in addition to the Parent. 5. As detailed in Note 12(a) and 12(c) of this Statement, in case of one of the subsidiaries, namely Mumbai International Airport Limited ("MIAL"), the legal proceedings involving investigations initiated by the Ministry of Corporate Affairs and chargesheet filed by the Central Bureau of Investigation are currently on-going in respect of matters involving potential conflict of interest and alleged misuse of funds ofMIAL aggregating to Rs. 845.76 crores related to works contracts that are currently included in Property, Plant and Equipment at a net book value of Rs. 409.28 crores. The auditors of MIAL have given a modified conclusion in the absence of sufficient appropriate audit evidence in respect of the above. Our audit report issued on the consolidated financial results and consolidated financial statements of the Group for the year ended 31st March 2026 were also qualified in respect of the above matter. Further, our review report on the consolidated financial results for the quarter ended 30th June 2026 and quarter and half year ended 30tl' September, 2025 was also modified in respect of the above matter. 6. Based on our review of the Statement conducted as stated above, except for the possible effects of the matters referred to in paragraph 5 above and based on the consideration of the reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and 52 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material • tement. <:,~ rf II> W1 Shah Dhandharia & Co LLP is registered with limited liability having iden I n:a number AAW-6528. 507, Abhijeet -1, Mithakali Six Roads, Navrangpura, Ahmedabad - 380009. (!l'i) www.sdco.in C9 079-4890-1710 ilTjj info@sdco.in / gst@sdco.in IND IA SHAH DHANDHARIA& CO LLP----------------- CHARTERED ACCOUNTANTS Independent Auditor's Review Report on Quarterly and Half Yearly ended Unaudited Consolidated Financial Results of the Adani Enterprises Limited pursuant to Regulation 33 and 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (as amended) (Continued) 7. We did not review the interim financial results of 59 subsidiaries included in the Statement, whose interim financial results reflect total assets of Rs. 1,86,593.83 crores as at 30th September, 2026, total revenues of Rs. 15,096.56 crores and Rs. 29,659.75 crores, total loss after tax of Rs. 1,277.04 crores and Rs. 2,620.69 crores, and total comprehensive loss of Rs. 626.13 crores and Rs. 1,644.29 crores for the quarter and half year ended 30th September 2026 respectively, and net cash inflows of Rs. 691.89 crores for the half year ended 30th September 2026, as considered in the unaudited consolidated financial results. The Statement also includes Group's share of profit after tax of R [Showing first 8,000 characters — download PDF for full document]