Adani Enterprises' consolidated EBIDTA increased 45% to Rs 4,726 crore in FY22

Ahmedabad, May 4, 2022

Adani Enterprises Ltd (AEL), part of the Adani Group, on Tuesday said that its total income had increased by 75% to Rs 70,433 crore during the financial year ended March 31, 2022 on account of significant increase in prices in its Integrated Resources Management (IRM) business.

Announcing its financial results for the year and quarter ended March 31, 2022, the company said its EBIDA had increased by 45% to Rs. 4,726 crore in FY22 post consolidation of Mumbai Airport with effect from Q2 FY22 and higher margins in the IRM business.

A press release from AEL said attributable PAT from its Established Businesses increased by 74% to Rs. 2,038 crore on account of higher EBIDTA in IRM segment. Overall attributable PAT stood at Rs. 777 crore.

AEL, being an incubator, has businesses which are established as well as those which are developing.

The release said that total income in Q4 FY 2022 (Consolidated) on a year-on-year (YoY) basis had increased by 84% to Rs. 25,142 crore on account of improved realization on the back of higher prices in IRM segment.

EBIDTA increased by 44% to Rs. 1,538 crore due to higher contribution from Airports business on the back of MIAL consolidation.

Attributable PAT increased by 30% to Rs. 304 crore vs 234 crore on account of improved performance of both developing and established business.

“AEL as the most successful incubator in India continues to develop exciting new businesses which are strategically linked to Adani portfolio of companies,” said Gautam Adani, Chairman of the Adani Group.

“AEL’s existing business have strengthened their performance and we see an exciting journey ahead for our new businesses like networked airport eco-systems, road and water infrastructure and green data centres. Add to this, the focus on new energy businesses and digital consumer platform, along with our ability to execute, will propel the shareholders’ value. We remain confident in India’s ability to become one of the fastest incubators of multi-industry unicorns.”

During Q4 FY22, the company achieved financial closure for greenfield Navi Mumbai International Airport project with State Bank of India for entire debt of Rs.12,770 crore.

Construction work commenced at Navi Mumbai Airport during the quarter.

During the quarter, Adani Airports handled 12.4 million passengers, 96,000 air traffic movements and 1.6 lakh tonnes of cargo.

Of the five roads projects under execution, the Bilaspur-Pathrapali project in Chhattisgarh has achieved 96% completion, followed by Suryapet-Khammam and Mancherial-Repallewada projects in Telangana at 60%, Vijayawada bypass in Andhra Pradesh at 17% completion and Nanasa-Pidgaon project in Madhya Pradesh at 7% completion.

The company has received LOA of Rs 2,008 crore for the Kagal-Satara road project of 67 kms in Maharashtra on BOT basis. It has signed concession agreement for three greenfield Ganga Expressway projects of 464 kms in Uttar Pradesh on BOT basis.

"With this, total roads portfolio increased to 14 projects for construction/operation of roads aggregating to 5,000+ lane kms," the release said.

In the Data Centre segment, AdaniConneX, a joint venture with EdgeConneX, achieved 85% of the construction of the Chennai Data Centre. Construction of the Noida Data Centre would be initiated in Q1 FY23, the release said.

According to the release, in the Solar Manufacturing business, existing capacity of 1.5 GW is being expanded to 3.5 GW, which will be completed by Q2 FY23.

"With strong order book of 0.4 GW, the company will continue to focus on this segment to have sustainable growth," it said.

In Mining Services, there has been a significant ramp-up in Gare Pelma III, Talabira and Kurmitar mines which led to increase in productions volumes by 28% in Q4 FY22.

Two of the subsidiaries have been declared as successful bidders for two commercial coal mines at Bijahan, Odisha and Gondbahera Ujheni East, Madhya Pradesh.

Adani Enterprises Limited is the flagship company of Adani Group, one of India’s largest business organisations.

Over the years, Adani Enterprises has focused on building emerging infrastructure businesses and divesting them into separate listed entities.

"Having successfully built unicorns like Adani Ports & SEZ, Adani Transmission, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the company has contributed significantly to make the country self-reliant with our portfolio of robust businesses.

"The next-generation of its strategic business investments are centered around airport management, roads, data center and water infrastructure which has significant scope for value unlocking. This has led to robust returns to our shareholders. Rs. 150 investment in Adani Enterprises, which was the group’s first IPO in 1994, has grown to Rs. 900,000+," the release added.

NNN