Adani Enterprises shares gained nearly 1% to trade at ₹2,735 on Thursday morning after its manufacturing arm sealed an overseas mining pact. Buyers stepped in early.
According to an exchange filing issued on Thursday, November 12, subsidiary Kutch Copper Ltd inked a strategic Memorandum of Understanding with Chile's state-owned mining giant Corporación Nacional del Cobre de Chile (Codelco). The pact outlines key operating terms to establish an exploration partnership for the Kaburkaala project, situated in the Calama copper belt within northern Chile's Antofagasta Region.
Copper demand is accelerating worldwide. Antofagasta holds some of the planet’s richest mineral deposits, and the tie-up gives the Ahmedabad-based conglomerate a direct foothold in South American primary extraction.
The agreement marks an aggressive push by the group to lock down raw ore inputs for its expanding domestic smelting footprint. Direct overseas access shields supply chains from spot market volatility.
Jeet Adani, Director at Kutch Copper Ltd, framed the South American venture as a structural hedge for India's industrial pipeline:
Critical resources, led by copper, are at the very heart of our future transformation. More than just a mining asset, we view this strategic partnership as a long-term investment in India's future. By securing robust access to global copper resources, we are building supply chain resilience for the critical industries driving our nation's growth—spanning renewable energy, advanced manufacturing, infrastructure, and technology.
Market Context: Copper remains the primary conduit for electricity distribution networks, solar installations, and electric transport. Securing long-term concession exploration agreements with national operators like Codelco allows Indian conglomerates to bypass spot procurement bottlenecks.
The overseas development follows the company's second-quarter financial print delivered on October 28. Consolidated top-line performance expanded sharply over the three months ended September 30, even as headline net earnings contracted due to an absence of one-off credits.
Revenue from operations surged 75.1% year-on-year to ₹37,215 crore in Q2FY27. However, profit after tax slumped 54.8% to ₹1,492 crore. The year-earlier September period had included a large exceptional gain of ₹3,583 crore, distorting headline year-on-year bottom-line comparisons.
Operating performance stripped of non-recurring items moved in the opposite direction. Earnings before interest, tax, depreciation, and amortisation (EBITDA) leaped 65.9% year-on-year to ₹5,651 crore, up from ₹3,407 crore in the corresponding period of the previous fiscal year. Operating profitability saw minor compression — EBITDA margin narrowed by 80 basis points to 15.2%, down from 16% twelve months earlier.
Across the first half of FY27, revenue reached ₹70,140 crore, compared to ₹43,210 crore across the same six-month stretch in the prior year.
| Financial & Operational Metric | Q2 FY27 Reported | Q2 FY26 Prior Period | Year-on-Year Change |
|---|---|---|---|
| Revenue from Operations | ₹37,215 crore | ₹21,253 crore | +75.1% |
| Profit After Tax (PAT) | ₹1,492 crore | ₹3,300 crore | -54.8% |
| Exceptional Base Item | ₹0 crore | ₹3,583 crore | N/A |
| Consolidated EBITDA |
Trading desks absorbed the overseas announcement with measured volume on the National Stock Exchange. Shares of the Nifty 50 constituent stand up more than 13.50% over the past twelve months. Market participants now look to subsequent regulatory filings for formal binding capital commitments and timeline disclosures regarding initial drilling operations in the Antofagasta belt.
| ₹5,651 crore |
| ₹3,407 crore |
| +65.9% |
| EBITDA Margin (%) | 15.20% | 16.00% | -80 bps |
| H1 Consolidated Revenue | ₹70,140 crore | ₹43,210 crore | +62.3% |
| Current Equity Share Price | ₹2,735 | — | +1.0% (Intraday) |
| Trailing 1-Year Share Return | +13.50% | — | — |