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ADANIENT - Fundamental Analysis: Financial Health & Valuation

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Rating: 2.9

Last Updated Time : 03 Feb 26, 06:04 pm

Fundamental Rating: 2.9

Stock Code ADANIENT Market Cap 2,54,205 Cr. Current Price 2,202 ₹ High / Low 2,613 ₹
Stock P/E 109 Book Value 242 ₹ Dividend Yield 0.06 % ROCE 12.9 %
ROE 12.1 % Face Value 1.00 ₹ DMA 50 2,175 ₹ DMA 200 2,323 ₹
Chg in FII Hold -0.08 % Chg in DII Hold -0.13 % PAT Qtr 563 Cr. PAT Prev Qtr 666 Cr.
RSI 56.4 MACD -52.2 Volume 73,09,259 Avg Vol 1Wk 25,88,373
Low price 1,848 ₹ High price 2,613 ₹ PEG Ratio 2.03 Debt to equity 0.59
52w Index 46.2 % Qtr Profit Var 4.55 % EPS 118 ₹ Industry PE 97.4

📊 Core Financials

  • Revenue & Profitability: PAT fell from 666 Cr. to 563 Cr. (–4.55% variance), showing declining profitability.
  • Margins: ROE at 12.1% and ROCE at 12.9% are moderate, not strong compared to peers.
  • Debt: Debt-to-equity ratio of 0.59 indicates manageable leverage.
  • Cash Flow: Profitability supports cash generation, but declining earnings raise concerns.

💹 Valuation Indicators

  • P/E Ratio: 109 vs. industry average of 97.4 — highly overvalued.
  • P/B Ratio: Current price (₹2,202) vs. book value (₹242) → ~9.1x, premium valuation.
  • PEG Ratio: 2.03, suggesting growth is priced at a premium.
  • Intrinsic Value: Valuation appears stretched given declining profitability.

🏢 Business Model & Competitive Advantage

  • Adani Enterprises operates as a diversified conglomerate with businesses in infrastructure, energy, mining, and airports.
  • Competitive advantage lies in scale, government contracts, and strategic positioning across multiple sectors.

📈 Technicals & Entry Zone

  • DMA 50 (₹2,175) and DMA 200 (₹2,323) show consolidation near current price.
  • RSI at 56.4 indicates neutral momentum; MACD negative suggests bearish sentiment.
  • Entry Zone: Attractive only on dips near ₹2,000–2,100 for long-term investors.
  • Long-Term Holding: Risky at current valuations; suitable only if earnings stabilize and improve.


✅ Positive

  • Moderate debt-to-equity ratio (0.59).
  • Diversified business model across infrastructure and energy.
  • Strong market capitalization (₹2,54,205 Cr.) ensures stability.

⚠️ Limitation

  • Extremely high P/E ratio (109) compared to industry average (97.4).
  • Declining quarterly PAT (–4.55%).
  • Dividend yield of 0.06% offers negligible shareholder return.

📉 Company Negative News

  • FII holdings decreased (–0.08%) and DII holdings decreased (–0.13%), showing reduced institutional confidence.
  • MACD negative (–52.2), indicating bearish momentum.

📈 Company Positive News

  • EPS at ₹118 reflects strong earnings base despite volatility.
  • Large trading volumes indicate strong liquidity in the stock.

🏭 Industry

  • Infrastructure and energy sectors benefit from government spending and long-term demand.
  • Industry average P/E (97.4) highlights Adani Enterprises’ premium valuation.

🔎 Conclusion

  • Adani Enterprises shows scale and diversification but faces declining profitability and stretched valuations.
  • Valuations are expensive compared to industry averages, making current levels risky.
  • Recommendation: Accumulate only on dips near ₹2,000–2,100. Long-term holding viable only if earnings stabilize and ROE/ROCE improve.

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