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Adani Enterprises Limited (ADANIENT) Fair Value & Analysis

Energy · IN · Market cap ₹4.5T

AE Adani Enterprises Limited ADANIENT · NSE
Price₹3,026
Fair Value₹901.17
Upside-70.2%
Quality36/100
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Expensive Growth
Thin margins · 9.3% net margin
Moderate debt · negative free cash flow
Trails peers (3/13)
Narrow moat 35/100
Evidence: High Range ₹630.82 – ₹1,114 Share as image

Fair value as of: Jul 13, 2026

From 14 valuation models · updated 25 days ago

Fair value updated Jul 13, 2026, revised from ₹936.66 to ₹901.17 (−3.8%) since Jun 24, 2026. Share price −2.6% over the past month.

Below-average quality, and screening another 70% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹1,114). The favourable scenario is already priced in.
  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹4,158 ₹1,071 Fair Value ₹901.17 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range ₹1,071 – ₹4,158 · fair‑value band ₹630.82 – ₹1,114 · the ₹3,026 price screens above the ₹901.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

Full chart & analysis →

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Analysis

Adani Enterprises Limited (ADANIENT) currently trades at ₹3,026, while our model-based Fair Value estimate is ₹901.17, implying the stock looks roughly 70.2% overvalued today. We read business quality at 36/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Adani Enterprises Limited generated revenue of ₹1.0T at a net margin of 9.3%. Revenue grew 20.3% year over year. It earns a return on equity of 13.7%. Net debt stands at ₹948B. Fundamentals as of Jul 13, 2026

Our scenario range runs from ₹630.82 (bear case) to ₹1,114 (bull case); at ₹3,026, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 73% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -2% fair-value upside, at -70%, ADANIENT screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income ₹554.46 ₹671.76 ₹1,654 76
Gordon GGM ₹10.67 ₹23.29 ₹39.18 70
Growth-Adj P/E ₹767.57 ₹1,097 ₹1,426 68
All 14 models by family
Earnings-Based
Graham-Dodd ₹469.41 ₹1,783 ₹2,414 54
Lynch FV ₹432.96 ₹618.51 ₹804.07 50
PEG = 1.0 ₹432.96 ₹618.51 ₹804.07 46
Dividend Discount
Gordon GGM ₹10.67 ₹23.29 ₹39.18 70
DDM Multi-Stage ₹10.67 ₹19.08 ₹24.27 61
Multiples
P/E Multiple ₹1,035 ₹1,381 ₹1,726 63
P/S Multiple ₹880.14 ₹1,174 ₹1,467 58
P/B Multiple ₹880.14 ₹1,174 ₹1,467 55
EV/EBIT ₹307.99 ₹569.21 ₹830.43 53
EV/EBITDA ₹532.45 ₹868.49 ₹1,205 54
EV/Revenue ₹52.57 ₹278.96 ₹505.36 43
Asset-Based
NCAV (Graham) ₹299.07 ₹400.76 ₹598.14 50
Economic Profit
Residual Income ₹554.46 ₹671.76 ₹1,654 76
Growth Earnings
Growth-Adj P/E ₹767.57 ₹1,097 ₹1,426 68

Widest divergence: Growth Earnings (₹1,097) versus Dividend Discount (₹19.08). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) ₹1.0T
Revenue growth (YoY) +20.3%
Net margin 9.3%
Return on equity 13.7%
Free cash flow −₹351B FY2026
P/E ratio 41.8
More key figures
Operating margin 5.5%
EPS (TTM) ₹75.46
Dividend yield 0.0%
EPS growth (YoY) +9,630%
Net debt ₹948B FY2026

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 36/100

Of which business quality 23 · Market factors (momentum, volatility) 75

Profitability 35
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 22
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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 cells, modules, and wind turbine generators; construction, operation, and maintenance of airports and road assets; commercial mining activities; supply of bunker fuels to shipping vessels; manufacture and supply of defense equipment; copper cathodes and cast rods; digital labs; and copper smelting and refinery, as well metals manufacturing. It also provides procurement and logistics services for minerals, as well as mining services. In addition, the company is involved in the sourcing, storage, and marketing of apples, grapes, pomegranates, stone fruits, digital mandi, and frozen peas; wastewater treatment, recycling, reuse projects; the operation of a news network; and Infrastructure Development and Water Resource Management. Further, it holds a portfolio of small arms, ammunition, unmanned aerial vehicles, counter-drone systems, missiles, and aircraft services. It also provides education, training and skill development. The company was founded in 1988 and is headquartered in Ahmedabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Adani Enterprises Limited reported revenue of ₹1.0T in FY2026 versus ₹694B in FY2022, a compound +9.7%/yr. Reported net income was ₹93.4B in FY2026, compounding +86.2%/yr from FY2022.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹1.0T
Latest YoY
+2.6%
Avg. growth/yr (3Y)
−7.6%
Avg. growth/yr (5Y)
+20.5%
Avg. growth/yr (22Y)
+11.6%
Revenue +9.7%/yr
FY22 ₹694B
FY23 ₹1.3T
FY24 ₹964B
FY25 ₹979B
FY26 ₹1.0T
Net income +86.2%/yr
FY22 ₹7.8B
FY23 ₹24.7B
FY24 ₹32.4B
FY25 ₹71.0B
FY26 ₹93.4B

ADANIENT screens 70% overvalued. Compare with China Shenhua Energy Company →

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Cite: Fair Value Calculator (2026). "Adani Enterprises Limited Fair Value". https://www.fairvalue-calculator.com/stock/ADANIENT

Peer Group

Thermal Coal · 101 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 36 · Bottom 25%
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 20% · Top 25%
Dividend yield (TTM) 0.0% · Below median
Debt / equity 0.94× · Higher than 75% of peers

Valuation Multiples vs Thermal Coal median · lower = cheaper

P/E (TTM) 41.8× · Pricier than 75% of peers
P/B 5.55× · Pricier than 75% of peers
P/S (TTM) 4.47× · Pricier than 75% of peers
EV/EBITDA 38.3× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 25
FUTURE 100 · sector 0
PAST 55 · sector 21
HEALTH 53 · sector 92
DIVIDEND 1 · sector 27

VALUE 0: the price sits above our fair-value range.

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Coal Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

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Frequently asked questions

Is Adani Enterprises Limited (ADANIENT) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of ₹901.17 versus a price of ₹3,026, about −70% (overvalued).
What is the fair value of ADANIENT?
Our model-based fair value for Adani Enterprises Limited is ₹901.17 (as of Jul 13, 2026), built from audited fundamentals. The current price is ₹3,026.
What is the quality score of ADANIENT?
Adani Enterprises Limited has a Quality Score of 36/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Adani Enterprises Limited (ADANIENT)?
Adani Enterprises Limited reported trailing-twelve-month revenue of about ₹1.0T (latest available figure, as of Jul 13, 2026).
What is the net profit margin of ADANIENT?
The net profit margin of Adani Enterprises Limited is about 9.3%, meaning it keeps roughly 9.3% of revenue as net income. Based on the latest reported figures.
Does Adani Enterprises Limited pay a dividend?
Adani Enterprises Limited currently shows a dividend yield of about 0.04% relative to its recent price (as of Jul 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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