Q4 FY26: Adani Enterprises Loss, Others Show Mixed Results

The fourth quarter (Q4) financial results for the fiscal year 2025-26 (FY26), announced on April 30, 2026, presented a mixed performance for several prominent Indian companies. Adani Enterprises Limited (AEL), the flagship company of the Adani Group, reported a consolidated net loss of ₹221 crore for the January-March 2026 quarter, a significant shift from the net profit recorded in the same period last year. This loss occurred despite a 20% surge in revenue from operations, which reached ₹32,439 crore. The company's board, however, recommended a dividend of ₹1.30 per equity share for FY26, equivalent to 130% on a face value of Re 1 each. This dividend is subject to shareholder approval at the upcoming Annual General Meeting, with June 12, 2026, fixed as the record date. In contrast to Adani Enterprises, other major players showcased positive growth in their Q4 FY26 earnings. Adani Ports and Special Economic Zone Limited (APSEZ) recorded a strong performance, with its consolidated net profit rising by 9-10% year-on-year to ₹3,308 crore to ₹3,329 crore. The company's revenue from operations also witnessed a substantial increase of 26%, reaching ₹10,737 crore to ₹10,738 crore. APSEZ's board recommended a dividend of ₹7.50 per equity share for the financial year 2025-26. This robust performance allowed Adani Ports to surpass its FY26 guidance for revenue and EBITDA. Bajaj Finserv Limited, a diversified financial services company, announced a 5% year-on-year (YoY) increase in its consolidated net profit, reaching ₹2,539 crore in Q4 FY26. The company's revenue from operations also advanced by 5.65% to ₹38,493.79 crore. Bajaj Finserv's board recommended a dividend of ₹1.50 per equity share for FY26, which includes a special payout in celebration of 100 years of the Bajaj Group. Cholamandalam Investment and Finance Company Limited, the financial services arm of the Murugappa Group, delivered strong financial performance. Its standalone net profit for Q4 FY26 surged by 30% to ₹1,641 crore, driven by higher interest income from its core business. On a consolidated basis, the net profit jumped by 31% to ₹1,645 crore. The total income for the quarter increased to ₹8,564 crore, and the company's board recommended a final dividend of Re 0.70 per equity share. Hindustan Unilever Limited (HUL), the FMCG giant, also reported impressive Q4 FY26 results. Its consolidated net profit climbed by 21% YoY to ₹2,994 crore (or ₹3,002 crore including divestment proceeds). Revenue from the sale of products rose by 8.1% to ₹16,172 crore, supported by strong underlying volume growth. The board recommended a final dividend of ₹22 per share for FY26. However, not all companies experienced growth. Go Fashion (India) Limited, operating under the 'Go Colors' brand, faced a challenging quarter. The company reported a significant decline in its consolidated net profit by over 60% year-on-year, settling at ₹7.95 crore in Q4 FY26. Net sales also decreased by 4.24% to ₹196.12 crore, reflecting weaker demand and margin pressures. Similarly, National Aluminium Company Limited (Nalco), a state-run entity, saw its consolidated net profit drop by 16.6% to ₹1,722.44 crore for Q4 FY26. Revenue for Nalco also declined to ₹5,012.82 crore in the reporting period. Despite the quarterly dip, Nalco's full-year FY26 net profit showed growth, and the company approved a third interim dividend of ₹2 per equity share. Overall, the Q4 FY26 results highlight a dynamic period for Indian businesses, with strong performances in the ports, financial services, and FMCG sectors, while some companies like Adani Enterprises, Go Fashion, and Nalco navigated specific challenges impacting their quarterly profitability. These results provide crucial insights into the health and trajectory of various sectors within the Indian economy.

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