Editor’s Synopsis
Operational Highlights Q2 FY 18:
- Coal Trading volumes lower by 8% to 17.5 Million Metric Tons (“MMT”) in Q2 FY 18
- Coal MDO volumes increased by 68% to 1.7 MMT in Q2 FY 18
- Renewable Power Generation was 394 Million Units of KWh in Q2 FY 18
- City Gas Distribution volumes increased by 15% to 117 Million Metric Standard Cubic Meters (“MMSCM”) in Q2 FY 18
Financial Highlights (Consolidated):
- Consolidated Income from Operations at Rs. 9,083 crores in Q2 FY 18 Vs Rs. 7,594 crores in Q2 FY 17
- Consolidated EBIDTA at Rs. 773 crores in Q2 FY 18 Vs Rs. 580 crores in Q2 FY 17
- Consolidated PAT was Rs 59 crores in Q2 FY 18 Vs Rs 63 crores in Q2 FY 17
Ahmedabad, November 13, 2017: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for quarter ended September 30, 2017.
Financial Highlights (Consolidated):
Consolidated Income from Operations for the quarter is Rs 9,083 crores Vs Rs 7,594 crores for the corresponding period in the previous year. The EBIDTA for the quarter is Rs 773 crores Vs Rs 580 crore in Q2 FY 17. The consolidated PAT attributable to owners’ for Q2 FY 18 is Rs 59 crores Vs Rs. 63 crore in Q2 FY 17. The company has maintained its financial performance on comparable basis.
Consolidated Income from Operations for the half year is Rs 17,862 crores Vs Rs 16,513 crores for the corresponding period in the previous year. The EBIDTA for H1 FY 18 is Rs 1,500 crores Vs Rs 1,387 crore in H1 FY 17. The consolidated PAT attributable to owners’ for H1 FY 18 is Rs 218 crores Vs Rs. 427 crore in H1 FY 17.
“Adani Enterprises continues to consolidate its position as energy and infrastructure player. With favorable policy measures, we remains committed to create assets of national importance. We are confident that our businesses will bring significant benefits to the Indian economy and the stakeholders.” said Mr. Gautam Adani, Chairman Adani Group.
“Our renewable, coal, city gas and agro businesses have delivered broad based, durable and profitable growth through improved operational performance. The structural strength of our business model and economic environment augurs well for the new capacities which are coming on stream. Our performance validates strength of our businesses, right strategy and execution capabilities.” said Mr. Rajiv Nayar, Group CFO Adani Group.
Business Highlights:
1. Coal Mine Development and Operations (“MDO”)
In MDO business at Parsa Kente coal mines in Chattisgarh, the Company has supplied washed coal of 1.7 MMT to RRVUNL in Q2 FY 18 as compared to 1.0 MMT in Q2 FY 17, showing an increase of 68%. In Q2 FY17 the volumes were lower due to heavy rainfall.
2. Renewable Energy
The company has operationalized renewable projects of 1088 MW with a further pipeline of 1060 MW of projects under various stages of implementation across the country. The Company has generated 394 MU Kwh in Q2 FY 18 as compared to 128 MU Kwh in Q2 FY 17 on account of operationalization of projects.
3. City Gas Distribution
The company provides piped natural gas to households, industrial and commercial consumers and compressed natural gas for automobiles in 4 cities - Ahmedabad, Vadodara, Faridabad and Khurja. The company envisages future growth through a 50:50 Joint Venture with Indian Oil Corporation which has been awarded the city gas project in cities - Allahabad, Chandigarh, Ernakulum, Panipat, Udham Singh Nagar and Dharwad. Operations have started in Chandigarh, Allahabad and Daman and the projects are at various stages of implementation in other cities.
4. Agro
In edible oil business, the company has maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market.
In agro storage business, the company has operationalized storage facility with capacity of 25K MT at Kotkapura. Project implementation is going as per schedule for the recently won 6 projects from Punjab Govt. with a capacity of 3 lacs MT.