Adani Enterprises Ltd announces Q4 and FY24 Results

Consolidated EBIDTA for FY24 increased by 32% to Rs. 13,237 cr
Consolidated PBT for FY24 increased by 56% to Rs. 5,640 cr
Incubating businesses Consolidated EBIDTA grew by 47% YoY
India’s first large-sized ingot-wafer unit of 2 GW capacity operational
Adani’s copper unit of 500 KTPA in Mundra operational


 

Editor’s Synopsis

 

Consolidated highlights FY24 (YoY)

  • EBIDTA increased by 32% to Rs. 13,237 cr
  • PBT increased by 56% to Rs. 5,640 cr
  • ANIL Ecosystem EBIDTA increased by 4.6x to Rs. 2,296 cr
  • Airports EBIDTA grew by 45% to Rs. 2,437 cr
  • Air Passenger Traffic increased by 19% to 88.6 million

 

Consolidated highlights Q4 FY24 (YoY)

  • EBIDTA stood at Rs. 3,646 cr vs Rs. 3,974 cr in Q4 FY23 (Q4 FY23 included cumulative EBIDTA of Rs. 1,038 Cr for 3 HAM Projects in Road business)
  • PBT stood at Rs. 1,322 cr vs Rs. 1,554 cr in Q4 FY23 in line with above
  • ANIL Ecosystem EBIDTA increased by 6.2x to Rs. 641 cr
  • Airports EBIDTA grew by 130% to Rs. 662 cr

 

Business highlights

  • ANIL Solar Manufacturing division has successfully commissioned India’s first large-sized monocrystalline ingot and wafer unit of 2 GW capacity
  • Adani’s copper unit under Kutch Copper Ltd commissioned the 500 KTPA greenfield copper refinery project showcasing the Adani Group's ability to plan and execute largescale projects in record time
  • Adani Airports inaugurated Phase I of Integrated terminal 3 of Lucknow Airport
  • AdaniConneX’s orderbook increased to 210 MW from 112 MW

 

 

Ahmedabad, May 2, 2024: Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the quarter and year ended March 31, 2024

 

The emerging core infra businesses comprising of ANIL Ecosystem, Airports and Roads are making significant strides in their operational performance. The contribution of these businesses to the overall EBIDTA has consistently increased to 45% for FY24 compared to 40% in FY23.

 

"Adani Enterprises has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development," said Mr Gautam Adani, Chairman of the Adani Group. "AEL’s resilient growth model of incubation confirms the operational and organizational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders. We remain dedicated to corporate governance, meticulous compliance, robust performance and effective capital flow management."

 

 

Consolidated Financial Highlights (YoY)

(Rs. in crore)

Particulars

Q4 FY23

Q4 FY24

YoY Change

FY23

FY24

YoY Change

Total Income

29,311

29,630

1%

1,28,734

98,282

(24%)

EBIDTA

3,974

3,646

(8%)

10,012

13,237

32%

Profit Before Tax

1,554

1,322

(15%)

3,607

5,640

56%

Profit After Tax1

735

449

(39%)

2,464

3,240

31%

Cash Accruals2

2,249

1,662

(26%)

5,277

7,076

34%

 

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

 

Incubating Businesses Financial Highlights

 

Business

Particulars

Q4 FY23

Q4 FY24

YoY Change

FY23

FY24

YoY Change

ANIL Ecosystem

Total Income

908

2,775

2.1x

3,567

8,741

145%

EBIDTA

89

641

6.2x

411

2,296

4.6x

PBT

35

536

14.3x

152

1,884

11.4x

Airports

Total Income

1,657

2,195

32%.

5,989

8,062

35%

EBIDTA

288

662

130%

1,681

2,437

45%

PBT

(275)

29

111%

(538)

(68)

87%

 

Operational Highlights

 

Business

UoM

Q4 FY23

Q4 FY24

YoY Change

FY23

FY24

YoY Change

ANIL Ecosystem

Module Sales

MW

315

797

153%

1,275

2,679

110%

WTG

Sets

-

47

# 1

-

54

# 1

AAHL - Airports

Pax movement

Mn

21.3

23.2

9%

74.4

88.6

19%

ATMs

‘000

146.4

153.0

5%

538.7

593.8

10%

Cargo

Lacs MT

1.8

1.7

(9%)

7.8

8.1

3%

ARTL - Roads

Construction

Lane-KMs

37.7

284.6

7.5x

284.1

514.8

81%

Mining Services

Production (MMT)

MMT

10.0

11.4

14%

29.7

32.5

9%

Dispatch (MMT)

MMT

7.9

10.7

35%

25.4

30.9

22%

IRM

Volume (MMT)

MMT

20.5

24.7

21%

88.1

82.1

(7%)

 

Business Updates:

Adani New Industries Ecosystem

Solar manufacturing

  • India’s first large-sized monocrystalline ingot and wafer unit of 2 GW capacity operational
  • The TopCon Cell line of 2.0 GW became operational in March 2024

Wind Turbine manufacturing

  • Order Book at 254 sets
  • Provisional Type Certificate received from WindGuard Certification GmbH for Prototype 2 using ANIL blades
  • ANIL 5.2MW WTG recognized as Bronze winner among the up to 5.6 MW capacity WTGs globally by Windpower

 

AdaniConnex Pvt Ltd (ACX - Data Center)

Noida Data Center

  • Construction Completion ~81% of 50MW core & shell + 10 MW MEP (Mechanical, Electrical & Plumping works)

Hyderabad Data Center

  • Construction Completion ~88% for Phase I - 9.6 MW

Pune Data Center

  • Pune I ~10% and Pune II ~18% for Phase I - 9.6 MW

Order Book & Awards

  • 210+ MW Order book from Hyperscale & Enterprise customers
  • AdaniConneX’s AI based safety analytics tool has been honored with Gold SKOCH ESG Award 2024
  • AdaniConneX’s Hyderabad site first in India to receive Five-star grading from British safety council

 

Adani Airports Holdings Ltd (AAHL - Airports)

  • Air passenger traffic showed a strong growth of 19% in FY24
  • Inaugurated Phase I of Integrated terminal 3 of Lucknow airport
  • During the quarter 10 New Routes, 7 New Airlines and 18 New Flights added
  • Mumbai Airport won the Cargo Airport of the Year – India Award - The STAT Times International Award for Excellence in Air Cargo demonstrates the best in quality of service and performance