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Adani Enterprises (ADANIENT) had a P/E of 58.5× on 6 Nov 2026, above the industry P/E of 10.5×, and the shares are 15% below their 52-week high. It earns ROCE of 9.8% and ROE of 6.4%, and sales fell 7.7% a year over 3 years while net profit grew 56%. Its dividend yield is 0.1%, and debt is 1.14× equity. It is a large-cap company with a market cap of ₹3.7 lakh crore, the largest of 10 Thermal Coal companies by market cap; the shares rose 13% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹2,729.90
Day high
₹2,745.80
Day low
₹2,678.40
Prev. close
₹2,733.30
Volume
12.7 L

Health check

1 good · 2 fair · 3 to check
  • ReturnsAhead

    +13.0% over a year, better than 7 of 7 peers.

  • Price tagPricier

    P/E 58.5 vs industry 10.5.

  • GrowthSteady

    Sales −7.7%, profit +55.9% a year over 3 years.

  • ProfitabilityWeak

    ROCE 9.8% vs peer median 18.1%.

  • Balance sheetFair

    Debt 1.14× equity, interest covered 3.1×, Piotroski 4 of 9.

  • Red flags5 to check

    Return on equity is low at 6.4%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Thermal Coal

9 listed peers. Screen the industry

Large cap

₹3.7L Cr, the largest of 10 in its industry.

Moves with the market

Beta 0.87 vs the NIFTY 50: tracks the market closely.

Key metrics

Last 12 months to Sep 2026: sales ₹1,27,398 Cr · profit ₹5,374 Cr
Market cap
₹3.7L Cr
Large cap
P/E
58.5
Industry 10.5
Price to book
3.79
Peers 1.93
Dividend yield
0.05%
ROE
6.4%
Peers 17.1%
ROCE
9.8%
Peers 18.1%
Debt to equity
1.14
Debt ₹1.2L Cr
EPS (TTM)
₹46.91
Face value ₹1
OPM (TTM)
6.6%
Net margin 4.3%
Sales growth
+75.1%
Latest quarter vs a year ago
Profit growth
−54.8%
Latest quarter vs a year ago
Price to sales
2.92
EV/EBITDA 27.3

Strengths and risks

Strengths

  • Quarterly sales up 75.1% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Return on equity is low at 6.4%.
  • Quarterly profit down 54.8% on a year ago.
  • P/E of 58.5 against an industry P/E of 10.5.
  • Interest coverage of only 2.3×.
  • Promoter stake down from 74.0% to 72.0%.

Derived automatically from reported figures. Not a recommendation.

About Adani Enterprises

Adani Enterprises Limited, together with its subsidiaries, operates in the new energy ecosystem, data center, airports, roads, copper and PVC, and other sectors in India and internationally. It operates through the Integrated Resources Management (IRM), Mining Services, Commercial Mining, New Energy Ecosystem, Airport, Road, copper, and Others segments. The company engages in the integrated ecosystem for manufacturing green hydrogen, including solar…

Headquarters
Ahmedabad
Employees
10,463
Sector
Energy
ISIN
INE423A01024
Website
adanienterprises.com

Price range

52 weeks

₹1,753.00₹3,245.00

Today

₹2,678.40₹2,745.80
Avg volume (3M)
16.6 L
1-year return
plus 13.0%
From 52-week high
minus 15.4%

Peers · Thermal Coal

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ADANIENTAdani Enterprises2,745.80plus 0.46%3,71,70558.532.19.8%6.6%1.14−7.7%plus 13.0%
COALINDIACoal India400.00plus 1.45%2,46,5097.44.819.6%19.5%0.129.3%plus 4.4%
GMDCLTDGujarat Mineral Development Corporation463.70minus 1.21%14,74622.327.215.5%14.0%0.05−8.8%minus 20.2%
GMRP&UIGMR Power and Urban Infra92.21minus 0.99%7,202–11.018.1%23.0%5.6011.4%minus 24.2%
CMLLCaliber Mining and Logistics520.15minus 1.98%3,40122.710.019.8%9.9%1.7336.8%minus 1.5%
REFEXRefex Industries226.25minus 2.17%3,10510.57.3–14.0%0.1812.0%minus 38.2%
ANMOLAnmol India10.97minus 1.17%625.47.310.6%1.5%1.660.1%minus 30.9%
CHANDRAPChandra Prabhu International10.53plus 0.48%293.1––1.8%0.58–minus 12.3%
Median of 7 peers–−1.17%3,4018.98.718.1%14.0%0.5810.3%−20.2%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26Sep 26
21,961–24,82032,43932,92437,216
19,935–22,55030,81231,85933,725
2,026–2,2701,6281,0653,491
9.2%–9.1%5.0%3.2%9.4%
951–7881,0072,644879
1,511–1,7581,9062,4142,368
––5,632–−2,644–
1,466–6,932729−1,3492,002
39.0%–20.3%117.1%−16.2%47.3%
–3,3045,627−221−1,1601,492
–27.4646.12-1.71-8.9111.05

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
−7.7%
Profit CAGR 3Y
+55.9%
EPS CAGR 3Y
+51.6%
ROE
6.4%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,27,39096,31697,7111,00,267
–minus 24.4%+1.4%+2.6%
1,18,12684,26183,05785,694
9,26412,05514,65414,573
7.3%12.5%15.0%14.5%
−1662435542,211
3,0033,7194,8886,393
2,4363,0424,2116,135
−421−6124,3699,269
3,2384,92510,47913,525
32.1%33.1%28.3%28.3%
2,4643,2417,0999,339
–+31.5%+119.1%+31.6%
21.1226.4158.7973.59

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
114114115129
32,93738,96250,19980,797
53,01365,31091,4731,06,622
55,42456,34656,34974,053
1,41,4881,60,7321,98,1362,61,600
70,91484,1651,03,9421,33,996
20,47324,81835,77333,909
3,8925,0745,7267,410
2,8344,5486,80310,011
43,37542,12745,89276,274
1,41,4881,60,7321,98,1362,61,600

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
17,62610,3124,5132,357
−16,860−19,082−26,967−28,438
−1,1988,87922,65528,484
−4311092502,403
−14,725−22,366−29,879−33,369
2,902−12,054−25,366−31,012
−114−137−148−150

Shareholding pattern

Source: NSE filings
72.0%
promoters
  • Promoters71.97%
  • Public28.03%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202671.97%28.03%0.00
7 Jul 202671.97%28.03%minus 2.87
30 Jun 202674.84%25.16%plus 0.17
31 Mar 202674.67%25.33%plus 0.70
31 Dec 202573.97%26.03%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you