Who are Adani Enterprises's main competitors?

Named competitors: GMR Airports Infrastructure (GMRAIRPORT.NS), Coal India (COALINDIA.NS), Vedanta (VEDL.NS), Tata Group companies (various) (private or unlisted). The cockpit's measured peer set (industry) also includes Genuine Parts (GPC), Pool (POOL), Aegis Logistics (AEGISLOG.NS), Grafton (GFTU.L), GigaCloud Technology (GCT), Cricut (CRCT).

Is Adani Enterprises expensive compared with its peers?

On forward p/e it trades at 50.6× against a peer median of 16.0×, most expensive of 10 in its peer set.

How has Adani Enterprises stock performed?

Over six months to 6 Nov 2026 the shares returned +9.2% against +18.5% for the median peer; over one year +12.0%.

← CockpitCompetitor Analysis › ADANIENT.NS Adani EnterprisesOpen in the cockpit ↗

Adani EnterprisesADANIENT.NSCompetitor analysis, valuation and peers

India · INR·Consumer & Retail›Wholesale Distributors

Adani Group's incubator company, developing new infrastructure businesses — airports, green hydrogen, data centres, copper and coal/mineral trading — before spinning them off.

Momentum neutral 58

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$39.3B

US dollars, full cap

Free float

25%

of shares outstanding

$/day

$37.6M

20-day average traded

Fwd P/E

50.6×

forward earnings

ROIC−WACC

-10.7 pp

WACC 14.5%

Hurdle

n/a

no reverse DCF

Next earnings

83 days

28 Jan 2027

Close · INR₹2,746

1D+0.5%

1W+6.5%

1M+0.1%

3M-9.3%

6M+9.2%

YTD+22.6%

1Y+12.0%

ATR %2.9%

Beta1.55

52w lowhigh15.4% off high

What Adani Enterprises does

Adani Group's incubator company, developing new infrastructure businesses — airports, green hydrogen, data centres, copper and coal/mineral trading — before spinning them off.

Most revenue comes from trading and mining coal, where it buys at one price and resells, so sales are large but the margin on each rupee is thin; airports and roads earn regulated charges and concession payments and are the strategic growth lines. The Adani family promoters control it.

Products and services

Airports (via Adani Airport Holdings)
Coal trading & mining
New energy (green hydrogen, solar/wind manufacturing)
Copper smelting
Data centres / other new businesses

Customers

Indian air travellers/airlines
Industrial coal buyers
Utilities and infrastructure off-takers

Where it sits in the supply chain

Industrials/Infrastructure
Diversified conglomerate
Incubation of new infrastructure…

What could go right

India infrastructure capex cycle
New-business commercialisation (airports, hydrogen)

What could go wrong

Group leverage/governance scrutiny
Execution risk on multiple new ventures

Moat: narrow (scale, regulatory licence, distribution). Group backing and execution scale to win large infrastructure concessions in India.

Headquarters: Ahmedabad, India · Founded: 1988 · Employees: 19,996

Named competitors

GMR Airports Infrastructure GMRAIRPORT.NS
Coal India COALINDIA.NS
Vedanta VEDL.NS
Tata Group companies (various) private or unlisted

Adani Enterprises at a glance

Size Adani Enterprises (ADANIENT.NS) is an India Consumer Discretionary company (Wholesale Distributors) with a market value of $39.3B, the 22nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,746 on 6 Nov 2026.

Performance Over six months the shares gained 9.2%, against +18.5% for the median peer and 0.0% for the India market (cap-weighted) — 6th lowest of 14 in its peer set.

Growth Revenue grew 37.0% over the last twelve months (peer median +17.3%); the operating margin is 8.2% (peer median 9.3%).

Valuation It trades at 50.6× forward earnings against a peer median of 16.0× (most expensive of 10).

Capital Return on invested capital runs 10.7 points below its cost of capital (14.5% WACC).

Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Adani Enterprises against the median of its 13 peers (local-currency closes).

Adani Enterprises financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹1.27T	₹1.00T	₹979B	₹964B	₹1.28T
Revenue growth	—	+3%	+2%	-24%	—
Gross profit	₹389B	₹164B	₹178B	₹153B	₹139B
EBITDA	₹179B	₹145B	₹147B	₹119B	₹91.9B
Net income	₹57.4B	₹93.4B	₹71.0B	₹32.4B	₹24.7B
Free cash flow	n/a	-₹366B	-₹304B	-₹150B	₹1.68B
Capital expenditure	n/a	₹334B	₹299B	₹224B	₹147B
Total debt	₹1.18T	₹1.07T	₹941B	₹679B	₹532B

Quarterly statements and history in the cockpit →

Adani Enterprises competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Adani Enterprises is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Adani Enterprises is the large dot.

Adani Enterprises competitors and peer comparison

Head to head with its named competitors (ADANIENT.NS vs GMRAIRPORT.NS vs COALINDIA.NS vs VEDL.NS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Adani Enterprises ADANIENT.NS	$39.3B	+9%	+37%	8%	50.6×	n/a
GMR Airports GMRAIRPORT.NS	$11.1B	-2%	+29%	27%	296.2×	n/a
Coal India COALINDIA.NS	$26.1B	-14%	+23%	19%	7.2×	-9.0%
Vedanta VEDL.NS	$10.8B	-14%	-37%	28%	6.0×	-9.5%

How Adani Enterprises compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Adani Enterprises against its 13 peers (data as of 6 Nov 2026)
Measure	ADANIENT.NS	Peer median	Rank in peer set
1-month return	+0.1%	-4.2%	6th highest of 14
6-month return	+9.2%	+18.5%	6th lowest of 14
Distance from 52-week high	-15.4%	-23.9%	5th highest of 14
Revenue growth (TTM)	+37.0%	+17.3%	2nd highest of 14
Operating margin	8.2%	9.3%	7th lowest of 14
Forward P/E	50.6×	16.0×	most expensive of 10
ROIC minus cost of capital	-10.7 pp	-0.2 pp	4th lowest of 14
EV / EBITDA	26.4×	14.2×	4th most expensive of 12
Net debt / EBITDA	5.4×	0.1×	2nd most indebted of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Adani Enterprises ADANIENT.NS	India	$39.3B	+9%	+37%	8%	50.6×	n/a	n/a
Genuine Parts GPC	United States	$16.9B	+19%	+5%	5%	15.5×	7.5%	+8.0%
Pool POOL	United States	$7.56B	+13%	+3%	11%	18.6×	5.9%	+6.1%
Aegis Logistics AEGISLOG.NS	India	$4.23B	+54%	+20%	21%	27.3×	26.9%	+16.7%
Grafton GFTU.L	United Kingdom	$2.59B	+25%	+9%	6%	13.6×	8.8%	+8.5%
GigaCloud Technology GCT	United States	$2.08B	+45%	+23%	12%	11.1×	8.0%	+36.2%
Cricut CRCT	United States	$1.84B	+104%	-1%	17%	31.3×	-10.4%	-5.9%
Gujarat Mineral Development GMDCLTD.NS	India	$1.56B	-34%	+19%	15%	16.0×	n/a	n/a
Lloyds Enterprises LLOYDSENT.NS	India	$988M	-12%	+33%	8%	n/a	n/a	n/a
MMTC MMTC.NS	India	$847M	-20%	-20%	-6,724%	n/a	n/a	n/a
ARKO Petroleum APC	United States	$704M	-23%	-12%	2%	17.5×	4.8%	-7.6%
Sharda Cropchem SHARDACROP.NS	India	$655M	-39%	+17%	14%	9.3×	-2.6%	+17.1%
Marine Electricals (India) MARINE.NS	India	$571M	+66%	+22%	9%	n/a	n/a	n/a
SBC Exports SBC.NS	India	$346M	+102%	+63%	8%	n/a	n/a	n/a

Questions

Who are Adani Enterprises's main competitors?: Named competitors: GMR Airports Infrastructure (GMRAIRPORT.NS), Coal India (COALINDIA.NS), Vedanta (VEDL.NS), Tata Group companies (various) (private or unlisted). The cockpit's measured peer set (industry) also includes Genuine Parts (GPC), Pool (POOL), Aegis Logistics (AEGISLOG.NS), Grafton (GFTU.L), GigaCloud Technology (GCT), Cricut (CRCT).
Is Adani Enterprises expensive compared with its peers?: On forward p/e it trades at 50.6× against a peer median of 16.0×, most expensive of 10 in its peer set.
How has Adani Enterprises stock performed?: Over six months to 6 Nov 2026 the shares returned +9.2% against +18.5% for the median peer; over one year +12.0%.