Adani Enterprises Ltd announces Consolidated Results for the quarter ending June 30, 2024

Consolidated EBIDTA increased by 48% to Rs. 4,300 cr
Consolidated PBT increased by 107% to Rs. 2,236 cr
Incubating Businesses contributed 62% to Total EBIDTA


 

Editor’s Synopsis

 

Consolidated financial highlights Q1 FY25 (YoY)

  • Revenue increased by 13% to Rs. 26,067 cr primarily driven by strong operational performance by ANIL Ecosystem and Airports
  • EBIDTA increased by 48% to Rs. 4,300 cr
  • PBT increased by 107% to Rs. 2,236 cr

 

Business highlights

  • • Solar module exports up by 109% to 808 MW
  • ANIL WTG crosses 200th blade production milestone during this quarter
  • ANIL WTG received final type certificate for 3 MW wind turbine
  • In Airports, pax movement crossed 90 mn for the first time on TTM basis

 

TTM: Trailing Twelve Months

 

Ahmedabad, August 1, 2024: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, announced its results today for the quarter ended June 30, 2024.

 

The emerging core infra businesses comprising of ANIL Ecosystem, Airports and Roads are consistently making significant strides in their operational performance. The contribution of these businesses to the overall EBIDTA has now increased to 62% in Q1 FY25 compared to 45% in Q1 FY24. ANIL Ecosystem solar manufacturing and wind turbine businesses has recorded highest ever EBIDTA of Rs. 1,642 cr with an increase of 3.6x on Y-o-Y basis and now contributes 38% to total EBIDTA on back of its robust operational performance.

 

"Adani Enterprises Ltd (AEL) is further expanding its position as India's leading business incubator and a global model in infrastructure development," said Mr Gautam Adani, Chairman of the Adani Group. "The substantial growth in our EBIDTA, driven by the exceptional performance of the ANIL ecosystem, our airport operations and our road construction business, underscores our commitment to operational excellence and sustainable value creation. The combination of best-in-class management practices, state-of-the-art technologies, high ratings and fully-funded growth strategies, ensures that AEL continues to set new national and international benchmarks."

 

 

Consolidated Financial Highlights

(Rs. in crore)

Particulars

Q1 FY24

Q1 FY25

% change Y-o-Y

FY24

Total Income

23,016

26,067

13%

98,282

EBIDTA

2,897

4,300

48%

13,237

Profit Before Tax

1,080

2,236

107%

5,640

Profit After Tax1

675

1,458

116%

3,240

Cash Accruals2

1,493

2,704

81%

7,076

 

Note: 1. PAT attributable to owners 2. Cash Accruals is equal to Profit Before Tax + Depreciation – Current Taxes

 

Incubating Businesses Financial Highlights

(Rs. in crore)

Particulars

Q1 FY24

Q1 FY25

% change
YoY Change

FY24

ANIL Ecosystem

Total Income

1,898

4,519

1.4x

8,741

EBIDTA

355

1,642

3.6x

2,296

PBT

276

1,425

4.1x

1,884

Airports

Total Income

1,711

2,177

27%

8,062

EBIDTA

511

682

33%

2,437

PBT

(98)

(89)

(68)

 

Operational Highlights

 

Volume

Q1 FY24

Q1 FY25

% change
YoY Change

FY24

ANIL Ecosystem

Module Sales (MW)

614

1379

125%

2679

WTG (Sets)

-

41

#1

54

Airports

Pax movement (Mn)

21.3

22.8

7%

88.6

ATMs (‘000)

141.6

152.1

7%

593.8

Cargo (Lacs MT)

2.3

2.7

17%

8.1

Roads

Construction (L-KM)

79.8

730.0

8.1x

514.8

Mining Services

Dispatch (MMT)

6.4

9.3

47%

30.9

IRM

Volume (MMT)

17.8

15.4

(13%)

82.1

#1 Commercial production and supply of WTG sets started from Q3 FY24

 

Business Updates:

Adani New Industries Ecosystem

Solar manufacturing

  • Module sales increased by 125% on year-on-year basis at 1379 MW; export increased by 109% and domestic sale increased by 151%
  • EBITDA margins improved on account of lower cost from TopCon cell line which became operational on 31st March 2024, and lower raw material costs.
  • Successfully operated at full capacity of 4 GW for both cell and module line

Wind Turbine manufacturing

  • Application to RLMM listing made for 5.2 MW prototype 2using ANIL blades
  • Final type certificate received for 3 MW WTG and applied for RLMM listing
  • 200th Blade production milestone crossed during this quarter

RLMM: Revised List of Models & Manufacturers

 

AdaniConnex Pvt Ltd (ACX - Data Center)

Noida Data Center

  • Construction Completion ~89% of 50MW core & shell + 10 MW MEP

Hyderabad Data Center

  • Construction Completion ~94% for Phase I - 9.6 MW

Pune Data Center

  • Pune I ~20% and Pune II ~38% for Phase I - 9.6 MW

MEP: Mechanical, Electrical & Plumbing

 

Adani Airports Holdings Ltd (AAHL - Airports)

  • Air passenger movement crossed 90mn for the first time on TTM basis
  • 25 new brandsadded at Lucknow airport in the first quarter after terminal 3 inauguration
  • During the quarter 8 new routes, 6 new airlines and 13 new flights added

 

Adani Road Transport Ltd (ARTL - Roads)

  • Highest ever 730 lane-km construction done during this quarter
  • Ganga Expressway construction crosses half-way mark
  • Three out of ten under construction projects are more than 80% complete

 

Scheme of Arrangement for Food FMCG business

 

Adani Enterprises as an incubator continues to incubate new businesses and create sustainable and long-term value for its stakeholders. Over the years, we have a track record of successfully incubating businesses across various sectors which are currently leading players in their respective sectors and delivering substantial returns to their shareholders.

 

In line with above, the Board of Director of AEL have approved demerger of the food FMCG business of AEL to Adani Wilmar Limited along with AEL’s strategic investment in Adani Commodities LLP. The food FMCG business has become self-sustained, performing well and poised for further growth under AWL. For AEL, this arrangement will not only unlock the value for shareholders but also allow focused strategy for sustainable growth in its incubating businesses.