$ADANIPORTS $ADANIENSOL

### Adani Group | Records Highest-Ever Capex by an Indian Corporate #### Key Highlights * Adani Group reported the **highest-ever capital expenditure (Capex) by an Indian corporate**. * **FY26 Asset Base:** ₹7.9 lakh crore. * **FY26 Capex:** ₹1.53 lakh crore. * Majority of investments focused on long-term infrastructure creation. #### Investment Focus * **~80% of investments allocated to Energy & Utilities** * Renewable energy * Power transmission * Distribution infrastructure * Green hydrogen ecosystem * **Significant investments in Logistics** * Ports * Airports * Warehousing * Transportation infrastructure #### Strategic Impact * Accelerates capacity expansion across key businesses. * Strengthens Adani's leadership in infrastructure and energy transition. * Creates a larger asset base capable of generating future cash flows. * Supports India's long-term growth, power demand, and logistics needs. ### Impact on Adani Group Stocks **Positive for Growth Outlook** Massive capex signals management's confidence in future demand and business expansion. **Higher Revenue Potential** New projects can drive earnings growth across Adani Energy Solutions, Adani Green Energy, Adani Ports, and other group companies. **Strengthens Market Leadership** Large-scale investments create entry barriers and reinforce Adani's dominant position in infrastructure sectors. **Long-Term Value Creation** Expansion of regulated and utility assets can support stable cash flows over time. **Execution & Debt Monitoring Key** Such large investments require timely execution and funding. Investors will closely track debt levels, project completion, and return on capital. ### Overall Impact **Short-Term:** Positive **Long-Term:** Strongly Positive