Adani Enterprises plans ₹35,000–40,000 crore annual capex over next two years
Adani Enterprises posted record half-year EBITDA and plans annual capex of ₹35,000–40,000 crore for the next two years, according to Moody's.
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what happened
Adani Enterprises plans to spend between ₹35,000 crore and ₹40,000 crore a year over the next couple of years, with airports, data centres and a proposed PVC complex as the main drivers. Moody's reports that head of finance Manan Vakharia gave the figures on the company's earnings call.
In the six months to September 2026, the company recorded its highest-ever half-year EBITDA at ₹11,958 crore, up 56% year on year. Consolidated income rose 62% to ₹71,569 crore, and profit before tax from continuing operations climbed 45% to ₹3,297 crore. CEO Arun Bansal said the group is shifting from building assets to realising value from them.
Adani Airport Holdings lifted first-half EBITDA 52% to ₹3,275 crore, while AdaniConneX expanded its contracted data-centre capacity above 1.2 GW. The PVC complex at Mundra, costing about ₹26,000 crore, is around 60% complete. The company did not give an EBITDA forecast for FY27.
why it matters
A large capex programme does not automatically lift a share price, since it requires funding and raises questions about returns. Investors will watch how quickly new capacity starts generating revenue and whether the company can balance expansion with project delivery.
market impact
Adani Enterprises shares: strong half-year results and capex plans keep the focus on returns and execution
tags
instruments
sources
- Adani Enterprises plans ₹35,000-40,000 cr annual capex in next two years — Moody's, 8 November 2026 at 06:00 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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