Guidance ledger · Q3 FY26

Adani Enterprises Ltd ADANIENT

3 revisions on record · 0 lowered · 1 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

→ narrowed Solar 6 GW cell+module commissioning Q4 FY25 → Q3 FY26

~~FY26 end to FY27 (Q4FY25)~~ → September 2026 (Q3FY26)

“we expect it to be ready and producing by September 2026”

↑ raised Solar module run-rate (post 6GW) Q3 FY25 → Q3 FY26

~~~1 GW/quarter (4.5 GW annual at 100%) - Q3FY25~~ → ~1.2 GW/quarter (then 2 GW/quarter post 10 GW) - Q3FY26

“It depends on capacity only, we have enough orders”

→ narrowed FY26 consolidated capex Q4 FY25 → Q3 FY26

~~~INR 36,000 crores (Q4FY25 plan)~~ → ~INR 36,000 crores target with INR 25,200cr done in 9M (Q3FY26)

“total target that we had outlined was roughly INR36,000 crores”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.