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Adani Enterprises Ltd announces 9M FY25 results
Ahmedabad, January 30, 2025: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, announced its results today for the quarter and nine months ended December 31, 2024.
AEL’s nine-month results represent strength and consistency of its incubating businesses, which have delivered robust operational and financial performance quarter after quarter. Strong growth in the emerging core infra businesses led by Adani New Industries (Green Hydrogen Ecosystem) and Adani Airports reflect the scale of opportunities of their respective sectors. During nine-months ended December 31, 2024, AEL has recorded its highest consolidated nine-months EBITDA of Rs. 12,377 crore with contribution of 62% from incubating businesses.
“This exceptional nine-month performance underscores Adani Enterprises Ltd’s position as a powerhouse for nurturing transformative infrastructure and energy transition sectors,” said Mr Gautam Adani, Chairman of the Adani Group. “Strong growth across our incubating businesses, from energy transition to logistics and adjacencies, highlights the immense potential of our core plus portfolio. These results are a testament to our focus on execution, operational excellence, innovation and sustainability as we continue to set new benchmarks across sectors. With each milestone, AEL reaffirms its commitment to creating long-term value for its stakeholders while contributing to India’s progress and global competitiveness.”
Consolidated Financial Highlights
(Rs. in Crore)
Particulars | Q3
FY24 |
Q3
FY25 |
% change
Y-o-Y |
9M
FY24 |
9M
FY25 |
% change
Y-o-Y |
|
Total Income | 25,540 | 23,501 | (8%) | 68,651 | 72,763 | 6% | |
EBITDA | 3,716 | 3,723 | – | 9,591 | 12,377 | 29% | |
Profit Before Tax | 2,360 | 576# | (75%) | 4,319 | 5,220 | 21% | |
Profit After Tax1 | 1,888 | 58 | (97%) | 2,790 | 3,254 | 17% | |
Cash Accruals2 | 2,679 | 1,102 | (59%) | 5,414 | 6,779 | 25% |
Note: 1. PAT attributable to owners 2. Cash Accruals is equal to Profit Before Tax + Depreciation – Current Taxes
# Q3-25 results include impact of high notional forex MTM loss in finance cost of Australia mining due to depreciation of AUD
Incubating Businesses Financial Highlights
Particulars |
Q3
FY24 |
Q3
FY25 |
% change
Y-o-Y |
9M
FY24 |
9M
FY25 |
% change
Y-o-Y |
|
ANIL Ecosystem | |||||||
Total Income | 2,130 | 2,941 | 38% | 5,966 | 10,575 | 77% | |
EBITDA | 673 | 903 | 34% | 1,655 | 3,666 | 121% | |
PBT | 547 | 691 | 26% | 1,348 | 3,033 | 125% | |
Airports | |||||||
Total Income | 2,209 | 2,939 | 33% | 5,866 | 7,393 | 26% | |
EBITDA | 695 | 1,101 | 59% | 1,774 | 2,527 | 42% | |
PBT | 66 | 237 | 2.6x | (97) | 0 | – |
Operational Highlights
Volume | Q3
FY24 |
Q3
FY25 |
% change
Y-o-Y |
9M
FY24 |
9M
FY25 |
% change
Y-o-Y |
|
ANIL Ecosystem | |||||||
Module Sales (MW) | 638 | 893 | 40% | 1882 | 3273 | 74% | |
WTG (Sets) | 7 | 48 | 5.9x1 | 7 | 104 | 13.8x1 | |
Airports | |||||||
Pax movement (Mn) | 22.7 | 24.6 | 8% | 65.4 | 69.7 | 7% | |
ATMs (‘000) | 152.3 | 160.5 | 5% | 440.7 | 466.0 | 6% | |
Cargo (Lacs MT) | 2.5 | 2.7 | 9% | 7.4 | 8.2 | 11% | |
Roads | |||||||
Construction (L-KM) | 137.9 | 805.1 | 4.8x | 230.2 | 1715.5 | 6.5x | |
Mining Services | |||||||
Dispatch (MMT) | 7.6 | 11.8 | 55% | 20.2 | 29.3 | 45% | |
IRM | |||||||
Volume (MMT) | 20.8 | 12.1 | (42%) | 57.4 | 41.2 | (28%) |
#1 Commercial production and supply of WTG sets started from Q3 FY24
Business Updates
Adani New Industries (ANIL – Green Hydrogen Ecosystem) |
Solar manufacturing
· Module sales records ~3.3 GW during nine months on back of export growth of 20% and domestic sale increase of 176% · EBITDA margins continue to rise on account of improved realization and operational efficiency through integrated production of cell and module line |
Wind Turbine manufacturing
· 3.3 MW WTG model got listed in RLMM, taking ANIL Wind business offerings to four listed WTG models · 400th Blade production milestone crossed during this quarter |
AdaniConnex Pvt Ltd (ACX – Data Center) |
Hyderabad Data Center
· The Phase I of Hyderabad Data Center is operational with capacity of 9.6 MW |
Noida Data Center
· Construction completion ~99% of 50MW core & shell and 10 MW MEP · Pre-construction activities started for remaining 40 MW MEP |
Pune Data Center
· Construction completion for Pune I ~59% and Pune II ~73% for Phase I – 9.6 MW each |
MEP: Mechanical, Electrical & Plumbing
Adani Airport Holdings Ltd (AAHL – Airports) |
· Navi Mumbai Airport successfully conducted first commercial flight validation test and now a step closer to become operational
· Mumbai Airport becomes first in India and third in world to receive prestigious Level 5 Accreditation from ACI for exemplary standards in customer experience · During the quarter 14 new routes, 4 new airlines and 9 new flights added |
ACI: Airport Council of India
Natural Resources – MDO |
· Portfolio of 11 mining service contracts, of which five are operational
· Dispatch volume of 29.3 MMT during nine months as per customer schedule |
ESG Highlights |
· AEL has demonstrated exceptional performance with a sector-leading net score of 63 out of 100 in the S&P Global Corporate Sustainability Assessment (CSA) for 2024. This marks a significant improvement from our previous score of 49 in 2023. |