Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, announced its results today for the quarter and half year ended 30 September 2024.
AEL’s constant endeavour on achieving operational efficiency across all business verticals along with incubating new asset base is reflected yet again in these results. AEL has recorded its highest half-yearly EBIDTA of INR 8,654 crore which is consistently supported by strong performance from emerging core infra businesses under its incubation portfolio. The emerging core infra businesses has recorded half-yearly EBIDTA of INR 5,233 crore with an increase of 85% on year-on-year basis on back of robust operational performance.
“Adani Enterprises Ltd (AEL) continues to focus on investing in logistics, energy transition and adjacent sectors that are core to the economic growth of the country. This record-breaking half-year performance has been led by Adani New Industries Ltd (ANIL) and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilisation,” said Mr Gautam Adani, Chairman of the Adani Group. “Our focus on execution of greenfield projects in ANIL across three giga scale integrated manufacturing plants and the accelerated development of Navi Mumbai International Airport are driving these robust results. Further, AEL is poised to repeat this turbo growth across data centres, roads, metals & materials and specialized manufacturing. AEL continues to invest in innovative technology across its platforms to support this high growth phase.”
Consolidated Financial Highlights
(INR in crore)
| Particulars | Q2 FY24 | Q2 FY25 | % change Y-o-Y | H1 FY24 | H1 FY25 | % change Y-o-Y | |
| Total Income | 20,095 | 23,196 | 15% | 43,111 | 49,263 | 14% | |
| EBIDTA | 2,979 | 4,354 | 46% | 5,875 | 8,654 | 47% | |
| Profit Before Tax | 879 | 2,409 | 174% | 1,959 | 4,644 | 137% | |
| Profit After Tax1 | 228 | 1,747 | 6.6x | 903 | 3,206 | 2.5x | |
| Cash Accruals2 | 1,242 | 2,972 | 139% | 2,735 | 5,677 | 107% |
Incubating Businesses Financial Highlights
| Particulars | Q2 FY24 | Q2 FY25 | % change Y-o-Y | H1 FY24 | H1 FY25 | % change Y-o-Y | |
| ANIL Ecosystem | |||||||
| Total Income | 1,939 | 3,115 | 60% | 3,837 | 7,634 | 99% | |
| EBIDTA | 628 | 1,121 | 78% | 983 | 2,763 | 181% | |
| PBT | 526 | 916 | 74% | 801 | 2,341 | 192% | |
| Airports | |||||||
| Total Income | 1,946 | 2,276 | 17% | 3,657 | 4,453 | 22% | |
| EBIDTA | 568 | 744 | 31% | 1,080 | 1,426 | 32% | |
| PBT | (65) | (148) | – | (163) | (237) | – | |
Operational Highlights
| Volume | Q2 FY24 | Q2 FY25 | % change Y-o-Y | H1 FY24 | H1 FY25 | % change Y-o-Y | |
| ANIL Ecosystem | |||||||
| Module Sales (MW) | 630 | 1001 | 59% | 1244 | 2380 | 91% | |
| WTG (Sets) | – | 15 | #1 | – | 56 | #1 | |
| Airports | |||||||
| Pax movement (Mn) | 21.3 | 22.3 | 5% | 42.6 | 45.1 | 6% | |
| ATMs (‘000) | 146.8 | 153.3 | 4% | 288.4 | 305.4 | 6% | |
| Cargo (Lacs MT) | 1.9 | 2.8 | 47% | 4.2 | 5.5 | 31% | |
| Roads | |||||||
| Construction (L-KM) | 12.5 | 180.4 | 13.4x | 92.3 | 910.4 | 8.8x | |
| Mining Services | |||||||
| Dispatch (MMT) | 6.2 | 8.2 | 32% | 12.6 | 17.5 | 39% | |
| IRM | |||||||
| Volume (MMT) | 18.8 | 13.7 | (27%) | 36.6 | 29.1 | (21%) | |
Capital market transactions
- AEL has raised INR 4,200 crore (USD ~500 Mn) through QIP which was subscribed with participation from international and domestic investors
- AEL has raised INR 800 crore (USD ~100 Mn) through maiden public issuance of NCDs which is first public issue by any private corporate in last decade
- AEL’s airport arm AAHL has raised INR 1,950 crore (USD ~230 Mn) through issuance of NCDs with participation from Mutual Funds and Banks
- AEL’s road business arm ARTL’s SPVs has raised INR 1,124 crore (USD ~130 Mn) through issuance of AAA rated NCDs with structured maturities up to 11 years
| Adani New Industries Ecosystem |
| Solar manufacturing Module sales cross 2 GW during first six months; export increased by 64% and domestic sale increased by 139%EBITDA margins continued to improve on account of improved realization and operational efficiency through integrated production of cell & module line |
| Wind Turbine manufacturing The 5.2 MW & 3.0 MW WTG using ANIL blades listed in RLMMFinal type certificate received for 3.3 MW WTG and applied for RLMM listing300th Blade production milestone crossed during this quarter |
| AdaniConnex Pvt Ltd (ACX – Data Centre) |
| Noida Data Centre Construction Completion ~95% of 50MW core & shell + 10 MW MEP |
| Hyderabad Data Centre Construction Completion ~98% for Phase I – 9.6 MW |
| Pune Data Centre Pune I ~38% and Pune II ~61% for Phase I – 9.6 MW |
| Adani Airports Holdings Ltd (AAHL – Airports) |
| Navi Mumbai International Airport welcomes first IAF aircraftDuring the quarter 6 new routes, 6 new airlines and 13 new flights addedThiruvananthapuram International Airport has been accredited to Level 2 of the Airport Customer Experience Accreditation Programme by ACI for continuous improvement in customer experience |
| Adani Road Transport Ltd (ARTL – Roads) |
| Provisional COD received for first BOT Project “Panagarh-Palsit” in the state of West Bengal and HAM Project “Kodad Khammam” in the state of Telangana |
| ESG Highlights |
| Mumbai Airport is honoured with the prestigious CII 25th national award for excellence in energy management. Ahmedabad International Airport declared winner for PCWR Excellence Award Guwahati & Thiruvananthapuram International Airport declared winner for PCWR Waste Management & Recycling Leadership Award Jaipur International Airport has won the Platinum Award in 16th Exceed Environment Award 2024 under the category of Environment & Sustainability in Aviation Sector |
About Adani Enterprises Ltd
Adani Enterprises Limited (AEL) is the flagship company of Adani Group, one of India’s largest business organisations. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities. Having successfully built sizeable and scalable businesses like Adani Ports & SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the company has contributed to make India self-reliant with our robust businesses. This has also led to significant returns to our shareholders for three decades.
The next generation of its strategic business investments are centered around green hydrogen ecosystem, airport management, data centre, roads and primary industries like copper and petrochem – all of which have significant scope for value unlocking.
Kutch Times 