Editor’s Synopsis
Operational Highlights:
- In FY16, Coal Mining volume grew by 85% to 5.5 MMT
- In FY16, City Gas Distribution volume is 381 MMSCM
- In FY16, Agro volume grew to 1.6 MMT
Financial Highlights (Consolidated):
- Consolidated Income from operations for FY16 is Rs 44,023 crore
- Consolidated EBIDTA for FY16 is Rs 3,114 crore
- Consolidated PAT for FY16 is Rs 1,041 crore
- Consolidated Income from operations for Q4FY16 is Rs 10,950 crore
- Consolidated EBIDTA for Q4FY16 is Rs 731 crore
- Consolidated PAT for Q4FY16 is Rs 167 crore
Ahmedabad, May 4, 2016: Adani Enterprises Ltd, the flagship company of the Adani Group, today announced its results for the fourth quarter and financial year ended March 31, 2016.
Financial Highlights:
The consolidated Total Income from Operations for the financial year ended March 31, 2016 is Rs 44,023 crore. The consolidated EBIDTA for the financial year is Rs 3,114 crore. The consolidated PAT for FY16 is Rs 1,041 crore.
The Consolidated Income from Operations for the quarter is Rs 10,950 crore. The consolidated EBIDTA for the quarter is Rs 731 crore. The consolidated PAT for Q4FY16 is Rs 167 crore.
Mr Gautam Adani, Chairman Adani Group, said, “Our portfolio of businesses across Mining, Renewable energy and Agro vertical benefits from vastly improved macro-economic and regulatory environment. Encouraging policy initiatives particularly in renewable space, enables us to explore new business opportunities in the sector.”
Mr Ameet Desai, CFO Adani Group and Executive Director, Adani Enterprises, said, “Our results reflect growth in operating performance across Mining, City Gas and Agro businesses. We have already begun our renewable foray by commencing activities in solar generation.”
Business Highlights:
Mine Development and Operations (MDO)
In Mine Development and Operations (MDO) business at Parsa Kente, the company has extracted and supplied washed coal of 5.5 MMT to RRVUNL in FY16 as compared to 3 MMT in FY15. With Government policy thrust, it envisages significant growth in domestic coal mining space.
City Gas Distribution
At City Gas Distribution business, the operations are running well with a strengthen base of customers across four cities in Gujarat, Haryana and Uttar Pradesh. Further, the project implementation work at seven cities under joint venture with Indian Oil Corporation Limited is progressing as per the schedule.
Agro
In agro business, the company has recently launched India’s first Diabetic care oil under brand “VIVO” for specific target segment. Its leading brand Fortune maintained leading position in the country with market share of around 20% in packed oil segment.
In agro storage business, the company has long term storage agreements with FCI and Madhya Pradesh Warehousing Corporation for combined capacity of 850,000 MT. During the quarter, it has been awarded two contracts from FCI towards storage of food grains with a capacity of 75,000 MT in the state of Bihar & Punjab.
Renewable Energy
We have completed installation of the world’s largest solar power plant of 648 MW in Tamil Nadu. Out of this, we have operationalized 360 MW of generation. We have further pipeline of 700 MW of wind & solar power projects.
In solar manufacturing business, we received approvals and clearances like SEZ unit approval, Consent to Establish, Power and Water allocation etc. The construction work for 1.2 GW manufacturing facility is in full swing with main plant structure erection underway. The facility is being built to produce technologically advanced products which will provide leading edge to the company in the Indian and world market.
Overseas Mining
At coal mining business in Indonesia, the company has been efficiently running mining activities and extracted 5.2 MMT of coal in FY16.