Editor’s Synopsis
- Consolidated Income from operations at Rs. 7,954 crores in Q1 FY 19 vs Rs 8,548 crores in Q1 FY 18
- Consolidated EBIDTA at Rs 589 crores in Q1 FY 19 vs Rs 503 crores in Q1 FY 18
- Consolidated PAT at Rs. 169 crores in Q1 FY 19 vs Rs 159 crores in Q1 FY 18
Ahmedabad, Aug 07, 2018: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the first quarter ended June 30, 2018.
Financial Highlights (Consolidated):
The Consolidated Income from Operations for the quarter is Rs 7,954 crores vs Rs. 8,548 crores for the corresponding period in the previous year. The EBIDTA for the quarter is Rs 589 crores vs Rs. 503 crores in Q1 FY 18. The PAT attributable to owners for Q1 FY 19 is Rs 169 crores vs Rs. 159 crores in Q1 FY 18. The company has maintained its financial performance on comparable basis.
“We will continue to thrust on diverse national critical business spaces like mining, gas distribution, agro businesses, solar manufacturing and ancillary industries. We envisage and are committed to build global scale businesses which are integrated to the core of the world’s largest democracy, touching millions of lives,” said Mr. Gautam Adani, Chairman 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 2.15 MMT to RRVUNL in Q1 FY 19 as compared to 1.64 MMT in Q1 FY 18, showing an increase of 31%.
2. 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, Khurja through its 100% subsidiary and in 6 cities – Chandigarh, Allahabad, Daman, Ernakulum, Panipat & Udham Singh Nagar through 50:50 Joint Venture with Indian Oil Corporation. The company envisages future growth through Joint Venture which has been awarded the city gas project in cities - Dharwad, South Goa and Bulandshahr. The company through Adani Gas Limited and its Joint Venture Indian Oil Adani Gas Pvt Ltd has made bidding in total 52 cities in the 9th round of Petroleum and Natural Gas Regulatory Board (PNGRB).
3. Solar Manufacturing
The company has successfully established India’s Largest Solar Cell and module manufacturing unit in Mundra SEZ. Under Phase 1, the plant has an installed capacity of 1.2 GW fully integrated cell and module manufacturing unit. Commercial Date of Operation was 24th May, 2017. Q1 Volume was 81 MW modules lower by 25% Q-o-Q Vs 108 MW modules in Q1 FY 18.
4. 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. In Agri Logistics business, project implementation is going as per schedule for the 6 projects from Punjab Govt. with a capacity of 3 lacs MT. Commissioning of all the projects is expected by Mar 19.