Gautam Adani-led Adani Group on Monday denied a media report which suggested a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology.

Calling the report “baseless, inaccurate and misleading,” Adani Group said it is not exploring any form of collaboration with BYD for battery manufacturing in India.

“Similarly, we are not engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind,” it said.

Last week, Adani Enterprises Ltd, the flagship company of the Adani Group, reported a total income of ₹22,437 crore for the April-June quarter of 2025-26.  The company’s revenue declined 14% year-on-year from ₹26,067 crore in the same quarter of the previous year.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Adani Enterprises fell 12% to ₹3,786 crore from ₹4,300 crore in the year-ago period. Profit attributable to shareholders, including exceptional gain, saw a 50% decline to ₹734 crore from ₹1,458 crore on a dip in trading volumes and lower index price realisations in the integrated resource management and commercial mining.

Adani Enterprises said it will witness operationalisation of the large infra assets during this fiscal year reflecting its project execution capabilities, which should results in EBITDA unlock and long-term value creation.

"The substantial rise in EBITDA contribution from our incubating businesses reflects strength and scalability of our operating model. This performance has been led by our Airports business, which delivered an exceptional 61% year-on-year growth in EBITDA,” said Gautam Adani, chairman of the Adani Group.

“With landmark assets like the Navi Mumbai International Airport, the Copper Plant and the Ganga Expressway set to become operational, we are accelerating our mission to build next-generation infrastructure platforms that are globally benchmarked, technologically advanced and strategically vital to India’s growth story,” Adani added.