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)

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

Incubating Businesses Financial Highlights

Operational Highlights

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

Business Updates:

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INDIA: CriticalRiver Inc., a leading technology solutions provider announces that 100% of its employees will now have ownership in the company through its lucrative ESOP initiative, marking a significant milestone in its commitment to empowering its workforce. This move underscores CriticalRiver’s commitment to fostering a culture of customer-centricity, employee empowerment, and shared success. CriticalRiver embarks on a new chapter where every team member has a stake in the company’s future. With over 1,000 employees across 9 global locations, this strategic move reinforces the company’s commitment to retaining its top talent. As part of the transition, CriticalRiver will grant 100 ESOPs to each employee annually based on their years of service. Furthermore, each employee’s account will receive an additional 100 ESOPs each year. This move not only reflects the company’s dedication to building long-term relationships with clients and maintaining a positive company reputation.

According to the Harvard Business Review, businesses with at least 30% employee ownership tend to be more productive, experience faster growth, and have a lower likelihood of going out of business compared to their counterparts. In addition to ensuring the continuity of quality talent, this model reinforces a customer-centric approach, where employees deeply invest in satisfying clients and meeting their expectations, thereby securing the longevity of the organization.

Commenting on the milestone, Anji Maram, Founder & CEO of CriticalRiver Inc., said, “This strategic move is more than a milestone; it’s a testament to our confidence in our team and our collective future. Aligning with our visionary goal, we are setting the stage for propelling CriticalRiver towards revenues of $500 million by 2030 and achieving our Initial Public Offering (IPO) vision thereafter. The ESOP further reinforces our commitment to innovation and excellence, ensuring unwavering customer confidence. This strategic shift underscores our unwavering commitment to bolstering client confidence, and we’re further reinforcing the founders’ and management’s steadfast dedication to nurturing the organization’s growth.”

Chandra Chandragiri, CFO of CriticalRiver Inc., expressed enthusiasm about the new journey, emphasizing the strategic decision as a testament to their faith in their employees, who are now more than ever the pillars of the company’s success. “For clients, this transition promises not only improved service quality but also a partnership model where employees are deeply invested in satisfying clients and meeting their expectations. This alignment fosters better customer service, innovative solutions to client needs, and a shared sense of purpose in achieving mutual success.”

The initiative is expected to attract and retain top talent, improve job satisfaction, and foster a collaborative, and innovative work environment. It reflects the company’s forward-thinking approach and dedication to creating a sustainable and prosperous future for its employees and stakeholders, enhancing its capability to serve clients as true partners in their journey.

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