Adani Enterprises Ltd FY22 Results

Consolidated EBIDTA increased by 45% to Rs. 4,726 crore

International Holding Company, Abu Dhabi (IHC) to invest Rs.7,700 crore (USD 1 bn) through preferential allotment route

Achieved financial closure for Navi Mumbai Airport for Rs.12,770 Cr

EDITOR’S SYNOPSIS

Business Highlights :

Vertical

Highlights

Airports

Achieved financial closure for greenfield Navi Mumbai International Airport project with State Bank of India (SBI) for entire debt of Rs.12,770 Cr and taking Mumbai a step closer to another landmark utility

Roads

Received LOA of Rs. 2,008 Cr for Kagal-Satara road project of 67 kms in Maharashtra on BOT basis

Others

•   AEL Consolidated Rating upgraded to A+ for long term facilities and A1+ for short term facilities by CARE Ratings Ltd.

•   Under aegis of Adani New Industries, signed an MoU with Ballard Power Systems to evaluate investment case for fuel cell manufacturing in India

Operational Highlights (YoY Basis):

Vertical

FY22

Q4 FY22

Developing Businesses

Airports

Handled 36.9 Mn Customers

Handled 12.4 Mn Customers

Established Businesses

Solar Manufacturing

Volume at 1104 MW vs 1158 MW

Volume at 304 MW vs 376 MW

Mining Services

Production volume up by 58% to 27.7 MMT

Production volume up by 28% to 8.6 MMT

Integrated Resources Management (IRM)

Volume up by 2% to 64.4 MMT

Volume at 17.0 MMT vs 18.8 MMT

Financial Highlights FY 22 (Consolidated) (YoY Basis):

·        Total Income increased by 75% to Rs. 70,433 crore

·        EBIDTA increased by 45% to Rs. 4,726 crore

·        Attributable PAT from Established Businesses increased by 74% to Rs. 2,038 crore

Note – AEL being an incubator has businesses, which are established as well as developing.

 

Ahmedabad, May 3, 2022: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the year and quarter ended March 31, 2022.

 

Financial Highlights FY22 (Consolidated) (YoY Basis):

 

  • Total Income increased by 75% to Rs. 70,433 crore on account of significant increase in prices in IRM segment.
  • EBIDTA increased by 45% to Rs. 4,726 crore post consolidation of Mumbai Airport w.e.f. Q2 FY22 and higher margins in IRM business
  • Attributable PAT from Established Businesses increased by 74% to Rs. 2,038 crore on account of higher EBIDTA in IRM segment. Overall attributable PAT stood at Rs. 777 crore.

 

Financial Highlights Q4 FY22 (Consolidated) (YoY Basis):

 

  • Total Income increased by 84% to Rs. 25,142 crore on account of improved realization on the back of higher prices in IRM segment.
  • EBIDTA increased by 44% to Rs. 1,538 crore due to higher contribution from Airports business on the back of MIAL consolidation.
  • Attributable PAT increased by 30% to Rs. 304 crore vs 234 crore on account of improved performance of both developing and established business.

 

"AEL as the most successful incubator in India continues to develop exciting new businesses which are strategically linked to Adani portfolio of companies,” said Mr Gautam Adani, Chairman of the Adani Group.. “AEL’s existing business have strengthened their performance and we see exciting journey ahead for our new businesses like networked airport eco-systems, road and water infrastructure and green data centers. Add to this, the focus on new energy businesses and digital consumer platform, along with our ability to execute, will propel the shareholders’ value. We remain confident in India’s ability to become one of the fastest incubators of multi-industry unicorns.”

 

 

Business Updates (Q4 FY22) :

Updates in Developing Businesses for Q4 FY22

  1. Airports
    • Achieved financial closure for greenfield Navi Mumbai International Airport project with State Bank of India for entire debt of Rs.12,770 Cr and taking Mumbai city a step closer to making it another landmark utility.
    • Construction work commenced at Navi Mumbai Airport during the quarter.
    • During the quarter, Adani Airports handled -
    • 12.4 Mn passengers
    • 96 k Air Traffic Movements
    • 1.6 Lacs MT Cargo
  1. Roads
  • Update on five projects which are under execution :

    • Project

    State

    Completion %

    Bilaspur Pathrapali

    Chhattisgarh

    96%

    Suryapet Khammam

    Telangana

    76%

    Mancherial Repallewada

    Telangana

    60%

    Vijaywada Bypass

    Andhra Pradesh

    17%

    Nanasa Pidgaon

    Madhya Pradesh

    7%
  • Received LOA of Rs. 2,008 Cr for Kagal-Satara road project of 67 kms in Maharashtra on BOT basis.
  • Concession agreement signed for three greenfield Ganga Expressway Projects of 464 kms in Uttar Pradesh on Build, Operate and Transfer (BOT) basis.
  • With this, total roads portfolio increased to 14 projects for construction / operation of roads aggregating to 5,000+ Lane Kms.

 

  1. Data Center segment – AdaniConneX, a JV with EdgeConneX
  • 85% of construction of Chennai Data Center completed.
  • Construction at Noida Data Center to be initiated in Q1 23.

Updates on Established Businesses for Q4 FY22

  1. Solar Manufacturing
  • Existing capacity of 1.5 GW being expanded to 3.5 GW, which will be completed by Q2 FY23
  • With strong order book of 0.4 GW, the company will continue to focus on this segment to have sustainable growth

 

  1. Mining Services
  • Significant ramp up in Gare Pelma III, Talabira and Kurmitar mines led to increase in productions volumes by 28% in Q4 FY22
  • Two of the subsidiaries have been declared as successful bidders for two commercial coal mines at Bijahan, Odisha and Gondbahera Ujheni East, Madhya Pradesh