Brands
Adani Enterprises posts 90-fold profit on airports & energy
MUMBAI: Adani Enterprises Limited (AEL) has delivered a remarkable set of financial results this quarter, fueled by the long-awaited launch of the Navi Mumbai International Airport. The company’s third-quarter performance in FY26 has seen profits skyrocket, demonstrating that for AEL, the sky is just the beginning.
The most striking highlight is a staggering 90-fold jump in Profit After Tax (PAT), which soared to Rs 5,627 crore compared to Rs 58 crore in the same period last year. On a nine-month basis, net profit climbed 193 per cent to Rs 9,560 crore, reflecting the firm’s continued growth momentum. Total income for the nine-month period saw a slight decline of 4 per cent to Rs 69,756 crore, but AEL’s diversified portfolio and strategic investments have more than compensated for this dip. The quarter also included an exceptional gain of Rs 9,215 crore, mainly arising from a strategic stake sale in Adani Wilmar and the transfer of cement units to Ambuja Cements.
The star performer this quarter was the Navi Mumbai International Airport, which commenced operations on 25 December 2025. Completing operational readiness in under five years from acquisition is a significant achievement in the infrastructure sector. Across its portfolio of eight airports, AEL handled 70.6 million passengers in the first nine months of FY26. Airport revenue soared 31 per cent to Rs 9,652 crore, while EBITDA jumped 47 per cent to Rs 3,724 crore. Non-aeronautical revenue, including duty-free and dining operations, grew 33 per cent, with duty-free penetration reaching record highs, signaling that the company is successfully monetizing all aspects of its airport ecosystem.
Beyond airports, AEL’s New Industries (ANIL) segment is showing strong growth in renewable energy. Adani Solar has earned a spot among the top 10 global solar manufacturers, making it the only Indian company on the list. Solar module sales increased 40 per cent to 997 MW this quarter, while the wind division has begun delivering its 3.3 MW turbine models, with 12 sets already supplied to customers.
AEL’s incubator model, which nurtures emerging businesses before they become independent giants, continues to deliver results. Through AdaniConneX, the company operationalized 14.4 MW of data centre capacity across Pune and Hyderabad, bringing total operational capacity to over 50 MW. On the roads front, two new Hybrid Annuity Model (HAM) projects in Andhra Pradesh and Odisha became operational, expanding the total number of active road projects to nine. Investor confidence remains strong, with a recent Rights Issue oversubscribed by 30 per cent, raising Rs 24,930 crore to fund future growth.
Chairman Gautam Adani highlighted that these results reflect the “depth of our diversified infrastructure portfolio” and the company’s commitment to building “nationally critical assets.” With ESG ratings reaching the “A” leadership category for climate change and water security, AEL is focused not only on rapid growth but also on responsible development.
As FY26 progresses, Adani Enterprises appears to have found an optimal cruising altitude. With its foundations in airports, energy, data, and infrastructure growing stronger, the company is proving that it can deliver high performance while building assets critical to India’s growth.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
