Adani Enterprises Ltd Announces Q4 And FY24 Results

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Adani Enterprises Ltd announces Q4 and FY24 Results
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 EBITDA 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

AHMEDABAD: 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 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 highlights FY24 (YoY)

  • EBITDA 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 large-scale projects in record time
  • Adani Airports inaugurated Phase I of Integrated Terminal 3 of Lucknow Airport
  • AdaniConneX’s order book increased to 210 MW from 112 MW

Consolidated Financial Highlights                                                                                                               (Rs. in Crore)

ParticularsQ4 FY23Q4 FY24YoY Change FY23FY24YoY Change
Total Income29,31129,6301%1,28,73498,282(24%)
EBIDTA3,9743,646(8%)10,01213,23732%
Profit Before Tax1,5541,322(15%)3,6075,64056%
Profit After Tax1735449(39%)2,4643,24031%
Cash Accruals22,2491,662(26%)5,2777,07634%

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

Incubating Businesses Financial Highlights

BusinessParticularsQ4 FY23Q4 FY24YoY Change FY23FY24YoY Change
ANIL EcosystemTotal Income9082,7752.1x3,5678,741145%
EBIDTA896416.2x4112,2964.6x
PBT3553614.3x1521,88411.4x
AirportsTotal Income1,6572,19532%5,9898,06235%
EBIDTA288662130%1,6812,43745%
PBT(275)29111%(538)(68)87%

Operational Highlights

BusinessUoMQ4 FY23Q4 FY24YoY Change FY23FY24YoY Change
ANIL EcosystemModule SalesMW315797153%1,2752,679110%
WTGSets47#154#1
AAHL – AirportsPax movementMn21.323.29%74.488.619%
ATMs‘000146.4153.05%538.7593.810%
CargoLacs MT1.81.7(9%)7.88.13%
ARTL – RoadsConstructionLane-KMs37.7284.67.5x284.1514.881%
Mining ServicesProductionMMT10.011.414%29.732.59%
DispatchMMT7.910.735%25.430.922%
IRMVolumeMMT20.524.721%88.182.1(7%)

     #1 Commercial production and supply of WTG sets started from Q3 FY24 I UoM: Unit of Measurement

Business Updates:

Adani New Industries Ecosystem
Solar manufacturing India’s first large-sized monocrystalline ingot and wafer unit of 2 GW capacity operational. TopCon Cell line of 2.0 GW became operational in March 2024
Solar manufacturing India’s first large-sized monocrystalline ingot and wafer unit of 2 GW capacity operational TopCon Cell line of 2.0 GW became operational in March 2024
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 customersAdaniConneX’s AI-based safety analytics tool has been honored with Gold SKOCH ESG Award 2024AdaniConneX’s Hyderabad site first in India to receive a Five-star grading from British Safety Council
Adani Airports Holdings Ltd (AAHL – Airports)
Air passenger traffic showed strong growth of 19% in FY24Inaugurated 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 AwardThe STAT Times International Award for Excellence in Air Cargo demonstrates the best in quality of service and performance

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