Adani Enterprises Consolidated EBIDTA for Q2 FY21 increased by 76% to Rs. 951 Cr vs Rs. 540 Cr in Q2 FY20

Shareholders value increased at CAGR of 90% in last 3 years*

EDITOR’S SYNOPSIS:

Operational Highlights Q2 FY21 (YoY Basis) :
• Solar Manufacturing volumes increased by 50% at 418 MW 
• Mining Services production increased by 17% to 3.5 MMT
• IRM volume stood at 15.7 MMT vs 16.0 MMT
• Took over the operations, management and development of Mangaluru and Lucknow Airports on 31st October and 2nd November respectively 
• Ahmedabad Airport to be taken over in November

Operational Highlights H1 FY21 (YoY Basis) :
• Solar Manufacturing volumes were at 497 MW vs 515 MMT
• Mining Services production at 5.7 MMT vs 5.8 MMT
• IRM volume stood at 23.2 MMT vs 34.4 MMT

Financial Highlights Q2 FY 21 (Consolidated) (YoY Basis) :
• Consolidated Total Income increased by 8% at Rs. 9,312 crores
• Consolidated EBIDTA increased by healthy 76% at Rs. 951 crores
• Consolidated PAT attributable to owners at Rs. 362 crores vs Rs. 50 crores# 

   * On account of demerger of renewable generation and city gas distribution businesses
#Impacted due to one-time exceptional loss of Rs. 130 crores

 

Ahmedabad, November 4, 2020: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the second quarter ended September 30, 2020.

Financial Highlights Q2 FY21 (Consolidated) (YoY Basis) :

  • Consolidated Total Income for the quarter increased by 8% at Rs. 9,312 crores.
  • The EBIDTA for the quarter increased by healthy 76% at Rs. 951 crores owing to better volumes in Mining Services and Solar Manufacturing businesses.
  • The PAT attributable to owners for Q2 FY21 was Rs. 362 crores vs Rs. 50 crores in line with rise in EBIDTA margins. Q2 FY20 PAT was also impacted by exceptional write off of Rs. 130 crores.

Financial Highlights H1 FY21 (Consolidated) (YoY Basis) :

  • Consolidated Total Income for the half year stood at Rs. 14,814 crores vs 19,313 crores.
  • The EBIDTA for H1 FY21 was at Rs. 1,252 crores vs Rs. 1,437 crores.
  • The PAT attributable to owners for H1 FY21 was Rs. 392 crores vs Rs. 651 crores (including net exceptional gain of Rs 199 crores during H1 FY20)

Mr. Gautam Adani, Chairman Adani Group, said, “The ability to incubate, innovate and scale effectively and rapidly has been a defining philosophy of Adani Enterprises and we continue to learn and further improve this model. The combination of our confidence in this business model, and our faith in India’s growth story is demonstrated through the investments we are continuing to make in additional infrastructure sectors that are critical to nation building. Our move into roads and water infrastructure, data center parks, and airports including the addition of the Mumbai International Airport and the Navi Mumbai International Airport provides us with a transformational platform that will help us create several strategic and growth based adjacencies for our other businesses”

Business Highlights (Q2 FY21) (YoY Basis):

  1. Mining Services
    • Production volume at Parsa Kente mine in Chhattisgarh increased by 7% at 3.2 MMT.
    • GP III mine, Chhattisgarh was commenced in Q3 FY20 and the volume was 0.2 MMT.
    • Talabira II & III mine, Odisha was commenced in Q1 FY21 and the volume was 0.1 MMT.

     

  2. Solar Manufacturing
    • Volume increased by 50% at 418 MW due to increased sales in Domestic Content Requirement (DCR) and Engineering Procurement and Construction (EPC) segment.
    • With strong order book the company will continue to focus on these segments to have sustainable growth
  3. Agro
    • In food business, the company has maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market with more than 20% market share.
  4. Roads
    • The company has signed five concession agreements with NHAI under Hybrid Annuity Model for construction of roads aggregating to 200+ KMs, two of which were signed in July 20 each one in the state of Andhra Pradesh and Madhya Pradesh.
    • The project completion status in Bilaspur-Pathrapali project at Chhattisgarh is about 50%.

  5. Airport Services
  • The company has won bids for six airports at Ahmedabad, Mangaluru, Lucknow, Trivandrum, Jaipur and Guwahati.
    • Took over Mangaluru Airport on 31st October 2020 and Lucknow Airport on 2nd November 2020
    • Will take over Ahmedabad Airport in November 2020
    • LOA is received for remaining 3 Airports on 1st September 2020