Adani Enterprises Ltd announces 9M FY25 results

Consolidated EBITDA increased by 29% to Rs. 12,377 cr

Consolidated PBT increased by 21% to Rs. 5,220 cr

Incubating Businesses EBITDA up by 77% to Rs. 7,674 cr


    SYNOPSIS

     

    Consolidated financial highlights 9M FY25 (YoY)

  • Revenue increased by 6% to Rs. 72,763 cr
  • EBITDA increased by 29% to Rs. 12,377 cr driven by continued strong operational performance by ANIL Ecosystem and Airports
  • PBT increased by 21% to Rs. 5,220 cr

    •  

    Business highlights

  • Navi Mumbai airport successfully conducted first commercial flight validation test and now a step closer to become operational
  • Phase I of Hyderabad Data Center with capacity of 9.6 MW fully operational
  • ANIL wind business has now four models listed in RLMM with the listing of 3.3 MW WTG model in current quarter
  • AEL has demonstrated exceptional performance in the S&P Global Corporate Sustainability Assessment (CSA) for 2024 and is ranked among the top five companies globally in ESG performance out of 180 sector peers

RLMM: Revised List of Models & Manufacturers

 

Ahmedabad, January 30, 2025: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, announced its results today for the quarter and nine months ended December 31, 2024.

AEL’s nine-month results represent strength and consistency of its incubating businesses, which have delivered robust operational and financial performance quarter after quarter. Strong growth in the emerging core infra businesses led by Adani New Industries (Green Hydrogen Ecosystem) and Adani Airports reflect the scale of opportunities of their respective sectors. During nine-months ended December 31, 2024, AEL has recorded its highest consolidated nine-months EBITDA of Rs. 12,377 crore with contribution of 62% from incubating businesses.

 

"This exceptional nine-month performance underscores Adani Enterprises Ltd’s position as a powerhouse for nurturing transformative infrastructure and energy transition sectors," said Mr Gautam Adani, Chairman of the Adani Group. "Strong growth across our incubating businesses, from energy transition to logistics and adjacencies, highlights the immense potential of our core plus portfolio. These results are a testament to our focus on execution, operational excellence, innovation and sustainability as we continue to set new benchmarks across sectors. With each milestone, AEL reaffirms its commitment to creating long-term value for its stakeholders while contributing to India's progress and global competitiveness."

 

Consolidated Financial Highlights

 

(Rs. in Crore)

Particulars

Q3

FY24

Q3

FY25

% change

Y-o-Y

 

9M

FY24

9M

FY25

% change

Y-o-Y

Total Income

25,540

23,501

(8%)

68,651

72,763

6%

EBITDA

3,716

3,723

-

9,591

12,377

29%

Profit Before Tax

2,360

576#

(75%)

4,319

5,220

21%

Profit After Tax1

1,888

58

(97%)

2,790

3,254

17%

Cash Accruals2

2,679

1,102

(59%)

5,414

6,779

25%

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

# Q3-25 results include impact of high notional forex MTM loss in finance cost of Australia mining due to depreciation of AUD

 

Incubating Businesses Financial Highlights

 

Particulars

Q3

FY24

Q3

FY25

% change

Y-o-Y

 

9M

FY24

9M

FY25

% change

Y-o-Y

ANIL Ecosystem

 

 

 

Total Income

2,130

2,941

38%

5,966

10,575

77%

EBITDA

673

903

34%

1,655

3,666

121%

PBT

547

691

26%

1,348

3,033

125%

Airports

 

 

 

Total Income

2,209

2,939

33%

5,866

7,393

26%

EBITDA

695

1,101

59%

1,774

2,527

42%

PBT

66

237

2.6x

(97)

0

-

 

Operational Highlights

Volume

Q3

FY24

Q3

FY25

% change

Y-o-Y

 

9M

FY24

9M

FY25

% change

Y-o-Y

ANIL Ecosystem

 

 

 

Module Sales (MW)

638

893

40%

1882

3273

74%

WTG (Sets)

7

48

5.9x1

7

104

13.8x1

Airports

 

 

 

Pax movement (Mn)

22.7

24.6

8%

65.4

69.7

7%

ATMs (‘000)

152.3

160.5

5%

440.7

466.0

6%

Cargo (Lacs MT)

2.5

2.7

9%

7.4

8.2

11%

Roads

 

 

 

Construction (L-KM)

137.9

805.1

4.8x

230.2

1715.5

6.5x

Mining Services

 

 

 

Dispatch (MMT)

7.6

11.8

55%

20.2

29.3

45%

IRM

 

 

 

Volume (MMT)

20.8

12.1

(42%)

57.4

41.2

(28%)

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

Business Updates

 

Adani New Industries (ANIL - Green Hydrogen Ecosystem)

Solar manufacturing

  • Module sales records ~3.3 GW during nine months on back of export growth of 20% and domestic sale increase of 176%
  • EBITDA margins continue to rise on account of improved realization and operational efficiency through integrated production of cell and module line

Wind Turbine manufacturing

  • 3.3 MW WTG model got listed in RLMM, taking ANIL Wind business offerings to four listed WTG models
  • 400th Blade production milestone crossed during this quarter

 

 

AdaniConnex Pvt Ltd (ACX - Data Center)

Hyderabad Data Center

  • The Phase I of Hyderabad Data Center is operational with capacity of 9.6 MW

Noida Data Center

  • Construction completion ~99% of 50MW core & shell and 10 MW MEP
  • Pre-construction activities started for remaining 40 MW MEP

Pune Data Center

  • Construction completion for Pune I ~59% and Pune II ~73% for Phase I - 9.6 MW each

MEP: Mechanical, Electrical & Plumbing

 

 

Adani Airport Holdings Ltd (AAHL - Airports)
  • Navi Mumbai Airport successfully conducted first commercial flight validation test and now a step closer to become operational
  • Mumbai Airport becomes first in India and third in world to receive prestigious Level 5 Accreditation from ACI for exemplary standards in customer experience
  • During the quarter 14 new routes, 4 new airlines and 9 new flights added

ACI: Airport Council of India

 

Natural Resources - MDO
  • Portfolio of 11 mining service contracts, of which five are operational
  • Dispatch volume of 29.3 MMT during nine months as per customer schedule

 

 

ESG Highlights
  • AEL has demonstrated exceptional performance with a sector-leading net score of 63 out of 100 in the S&P Global Corporate Sustainability Assessment (CSA) for 2024. This marks a significant improvement from our previous score of 49 in 2023.