Adani Enterprises Ltd announces highest half-yearly EBIDTA in H1FY25 results

Ahmedabad, 29 October 2024: 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%

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

 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%)

#¹ Commercial production and supply of WTG sets started from Q3 FY24 

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

Business Updates

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 RLMM ·         Final type certificate received for 3.3 MW WTG and applied for RLMM listing ·         300th Blade production milestone crossed during this quarter

RLMM: Revised List of Models & Manufacturers 

      MEP: Mechanical, Electrical & Plumbing

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 aircraft ·         During the quarter 6 new routes, 6 new airlines and 13 new flights added ·        Thiruvananthapuram 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

      PCWR: Pollution Control Waste Management & Recycling

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