Adani Enterprises Ltd H1 FY23 Results, Consolidated Revenue increased by 202% to Rs. 79,508 cr

Ahmedabad, November 3, 2022: Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the half year & quarter ended September 30, 2022

Financial Highlights H1 FY23 (Consolidated) (YoY Basis): 

• Total Income increased by 202% to Rs. 79,508 cr on account of strong performance by IRM and Airport business
• EBIDTA increased by 86% to 4,100 cr on account of strong performance by IRM and Airport business
• Attributable PAT increased by 92% to Rs. 930 cr in line with EBIDTA

Financial Highlights Q2 FY23 (Consolidated) (YoY Basis): 

• Total Income increased by 183% to Rs. 38,441 cr on account of strong performance by IRM and Airport business
• EBIDTA increased by 69% to 2,136 cr on account of strong performance by IRM and Airport business
• Attributable PAT increased by 117% to Rs. 461 cr in line with EBIDTA

“Adani Enterprises has yet again validated its standing as India’s most successful new business incubator as it continues to build on exciting ideas strategically aligned with the diverse strengths of the Adani portfolio of companies,” said Mr Gautam Adani, Chairman of the Adani Group. “AEL’s accelerating pace of business incubation and its remarkably consistent success demonstrates the robustness of the Adani Group’s fundamental approach to value creation as we transform sector after sector through digitisation, innovation in technology and a greater emphasis on equitable energy transition. We continue to believe ever firmly in the India growth story and remain committed to our core philosophy of nation-building through the development of advanced, efficient and world-class infrastructure that delivers increasing shareholder value.” 

Business Updates (Q2 FY23):

Updates in Incubating Businesses

1. Adani Airports Holdings Ltd (AAHL – Airports)

• During the quarter, Adani Airports handled –

• • 16.3 Mn passengers at 90% of pre-covid level
  • 126.9 k Air Traffic Movements
  • 2.0 Lacs MT Cargo

2. Adani Road Transport Ltd (ARTL – Roads)

• Provisional COD received for 2^nd HAM Road project at Suryapet Khammam
• Update on four HAM projects which are under execution:

• Secured financial closure for Ganga Expressway Project for Rs.10,238 cr
• Construction activities in full swing for 7 projects (including 1 BOT project)

3. AdaniConnex Pvt Ltd (ACX – Data Center)

• First data center facility of 17 MW made operational at Chennai
• Noida Data Center – project activities completed ~22%

Updates on Established Businesses for Q2 FY23

1. 1.       Adani New Industries Supply Chain Ecosystem

• New 2.0 GW solar module line operationalised
• Existing 1.5 GW capacity plant is being upgraded to 2.0 GW with TopCon Cell technology
• India’s first and largest Wind Turbine prototype of 5.2 MW installed at Mundra; testing and certification in progress
• Volume stood at 206 MW vs 267 MW

2. Primary Industries (Mining Services)

• Mining Services production stood at 5.4 MMT
• Operational Peak capacity of coal mines at 50+ MMT including iron ore mine