Adani Enterprises Ltd announces highest half-yearly EBIDTA in H1FY25 results

Consolidated EBIDTA increased by 47% to INR 8,654 crore

Consolidated PBT increased by 137% to INR 4,644 crore

Incubating Businesses EBIDTA up by 85% to INR 5,233 crore

 

Editor’s Synopsis

 

Consolidated financial highlights H1 FY25 (YoY)

  • Revenue increased by 14% to INR 49,263 crore
  • EBIDTA increased by 47% to INR 8,654 crore driven by continued strong operational performance by the Adani New Industries Ltd (ANIL) ecosystem and Airports
  • PBT increased by 137% to INR 4,644 crore

    Capital market transactions

  • AEL has raised INR 4,200 crore (USD ~500 Mn) through QIP which was subscribed with participation from international and domestic investors
  • AEL and its subsidiaries have raised INR 3,874 crore (USD ~460 Mn) through issuances of NCDs which were subscribed by diversified set of investors

    Business highlights

  • Received Letter of Award for electrolyser manufacturing facility for 101.5 MW p.a. from SECI taking cumulative awarded capacity to 300 MW p.a.
  • Navi Mumbai International Airport welcomes first IAF aircraft
  • Provisional COD received for first BOT Project “Panagarh-Palsit” and HAM Project “Kodad Khammam”
  • Letter of Award received for development & operation of Iron Ore mine at Taldih with capacity of 7 MTPA from SAIL

 

 

 

Ahmedabad, 29 October 2024: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, announced its results today for the quarter and half year ended 30 September 2024.

AEL’s constant endeavour on achieving operational efficiency across all business verticals along with incubating new asset base is reflected yet again in these results. AEL has recorded its highest half-yearly EBIDTA of INR 8,654 crore which is consistently supported by strong performance from emerging core infra businesses under its incubation portfolio. The emerging core infra businesses has recorded half-yearly EBIDTA of INR 5,233 crore with an increase of 85% on year-on-year basis on back of robust operational performance.

“Adani Enterprises Ltd (AEL) continues to focus on investing in logistics, energy transition and adjacent sectors that are core to the economic growth of the country. This record-breaking half-year performance has been led by Adani New Industries Ltd (ANIL) and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilisation,” said Mr Gautam Adani, Chairman of the Adani Group. “Our focus on execution of greenfield projects in ANIL across three giga scale integrated manufacturing plants and the accelerated development of Navi Mumbai International Airport are driving these robust results. Further, AEL is poised to repeat this turbo growth across data centres, roads, metals & materials and specialized manufacturing. AEL continues to invest in innovative technology across its platforms to support this high growth phase.”

Consolidated Financial Highlights                                                       

                                                                                                                                                                                                      (INR in crore)

Particulars

Q2

FY24

Q2

FY25

% change

Y-o-Y

 

H1

FY24

H1

FY25

% change

Y-o-Y

Total Income

20,095

23,196

15%

 

43,111

49,263

14%

EBIDTA

2,979

4,354

46%

 

5,875

8,654

47%

Profit Before Tax

879

2,409

174%

 

1,959

4,644

137%

Profit After Tax1

228

1,747

6.6x

 

903

3,206

2.5x

Cash Accruals2

1,242

2,972

139%

 

2,735

5,677

107%

 

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

 

Incubating Businesses Financial Highlights

Particulars

Q2

FY24

Q2

FY25

% change

Y-o-Y

 

H1

FY24

H1

FY25

% change

Y-o-Y

ANIL Ecosystem

 

 

 

 

Total Income

1,939

3,115

60%

 

3,837

7,634

99%

EBIDTA

628

1,121

78%

 

983

2,763

181%

PBT

526

916

74%

 

801

2,341

192%

Airports

 

 

 

 

Total Income

1,946

2,276

17%

 

3,657

4,453

22%

EBIDTA

568

744

31%

 

1,080

1,426

32%

PBT

(65)

(148)

-

 

(163)

(237)

-

 

Operational Highlights

Volume

Q2

FY24

Q2

FY25

% change

Y-o-Y

 

H1

FY24

H1

FY25

% change

Y-o-Y

ANIL Ecosystem

 

 

 

 

Module Sales (MW)

630

1001

59%

 

1244

2380

91%

WTG (Sets)

-

15

#1

 

-

56

#1

Airports

 

 

 

 

Pax movement (Mn)

21.3

22.3

5%

 

42.6

45.1

6%

ATMs (‘000)

146.8

153.3

4%

 

288.4

305.4

6%

Cargo (Lacs MT)

1.9

2.8

47%

 

4.2

5.5

31%

Roads

 

 

 

 

Construction (L-KM)

12.5

180.4

13.4x

 

92.3

910.4

8.8x

Mining Services

 

 

 

 

Dispatch (MMT)

6.2

8.2

32%

 

12.6

17.5

39%

IRM

 

 

 

 

Volume (MMT)

18.8

13.7

(27%)

 

36.6

29.1

(21%)

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

 

Capital market transactions

  • AEL has raised INR 4,200 crore (USD ~500 Mn) through QIP which was subscribed with participation from international and domestic investors
  • AEL has raised INR 800 crore (USD ~100 Mn) through maiden public issuance of NCDs which is first public issue by any private corporate in last decade
  • AEL’s airport arm AAHL has raised INR 1,950 crore (USD ~230 Mn) through issuance of NCDs with participation from Mutual Funds and Banks
  • AEL’s road business arm ARTL’s SPVs has raised INR 1,124 crore (USD ~130 Mn) through issuance of AAA rated NCDs with structured maturities up to 11 years

 

Business Updates

Adani New Industries Ecosystem

Solar manufacturing

  • Module sales cross 2 GW during first six months; export increased by 64% and domestic sale increased by 139%
  • EBITDA margins continued to improve on account of improved realization and operational efficiency through integrated production of cell & module line

Wind Turbine manufacturing

  • The 5.2 MW & 3.0 MW WTG using ANIL blades listed in RLMM
  • Final type certificate received for 3.3 MW WTG and applied for RLMM listing
  • 300th Blade production milestone crossed during this quarter

MEP: Mechanical, Electrical & Plumbing

AdaniConnex Pvt Ltd (ACX - Data Centre)

Noida Data Centre

  • Construction Completion ~95% of 50MW core & shell + 10 MW MEP

Hyderabad Data Centre

  • Construction Completion ~98% for Phase I - 9.6 MW

Pune Data Centre

  • Pune I ~38% and Pune II ~61% for Phase I - 9.6 MW



RLMM: Revised List of Models & Manufacturers

 

Adani Airports Holdings Ltd (AAHL - Airports)

  • Navi Mumbai International Airport welcomes first IAF aircraft
  • During the quarter 6 new routes, 6 new airlines and 13 new flights added
  • Thiruvananthapuram International Airport has been accredited to Level 2 of the Airport Customer Experience Accreditation Programme by ACI for continuous improvement in customer experience

Adani Road Transport Ltd (ARTL - Roads)

  • Provisional COD received for first BOT Project “Panagarh-Palsit” in the state of West Bengal and HAM Project “Kodad Khammam” in the state of Telangana

PCWR: Pollution Control Waste Management & Recycling

 

ESG Highlights

  • Mumbai Airport is honoured with the prestigious CII 25th national award for excellence in energy management.
  • Ahmedabad International Airport declared winner for PCWR Excellence Award
  • Guwahati & Thiruvananthapuram International Airport declared winner for PCWR Waste Management & Recycling Leadership Award
  • Jaipur International Airport has won the Platinum Award in 16th Exceed Environment Award 2024 under the category of Environment & Sustainability in Aviation Sector