Adani Enterprises announce Q2 results for FY 2021-22

Adani Enterprises announce Q2 results for FY 2021-22

Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the second quarter ended September 30, 2021.

Ahmedabad: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the second quarter ended September 30, 2021.

Financial Highlights Q1 FY22 (Consolidated) (YoY Basis):

    Consolidated Total Income increased by 78% to Rs. 26,328 crore due to significant increase in IRM segment volumes and prices.

    Consolidated EBIDTA increased by 77% to Rs. 2,210 crore due to increase in revenue and better margins in IRM business. 

    Consolidated PAT attributable to owners from Established Businesses increased by more than 2 times to Rs. 1,185 crore due to higher EBIDTA. Overall Consolidated PAT attributable to owners increased by 23% to Rs. 484 Crore.

Financial Highlights Q2 FY22 (Consolidated) (YoY Basis):

    Consolidated Total Income increased by 46% to Rs. 13,597 crore due to significant increase in index prices in IRM segment.

    Consolidated EBIDTA increased by 33% to Rs. 1,262 crore due to increase in revenue and better margins in IRM business. 

    Consolidated PAT attributable to owners from Established Businesses increased by 67% to Rs. 579 crore in line with higher EBIDTA. Overall Consolidated PAT attributable to owners stood at Rs. 212 crore vs 362 crore.

“AEL continues to prove itself as India’s most successful incubator – and remains unmatched in developing exciting new ideas strategically linked to the Adani portfolio of companies,” said Mr Gautam Adani, Chairman of the Adani Group. 

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“AEL is both enhancing the span of companies it is incubating and accelerating the pace at which they are being incubated. We believe this is fundamental value creation in a world where digitisation has become the most significant business transformation vehicle ever known,” he added.

“AEL’s existing businesses are stronger than they have ever been – and, this year, we have launched several new businesses critical to a strong Atmanirbhar Bharat. These include a digital consumer aggregation platform, networked airport ecosystems, green data centres, and advanced road, metro and water infrastructure. I see an exciting journey ahead given that every one of these sectors possesses multiple adjacencies to our existing businesses. Our results demonstrate that this purposeful model is working for us and we will continue to strengthen on all fronts to deliver greater shareholder value.”

Business Highlights (Q2 FY22) :

Significant updates in Developing Businesses for Q2 FY22

1.    Airports

    Took over Jaipur, Guwahati and Thiruvananthapuram Airports in October 21

    Completed acquisition of Mumbai International Airports

    During the quarter handled 

    6.5 Mn passengers 

    62,199 Air Traffic Movements 

    1,63,860 MT Cargo

2.    Roads 

    Portfolio of ten projects with NHAI for construction / operation of roads aggregating to 450+ KMs. 

    Project completion status :

    Bilaspur Pathrapali project at Chhattisgarh is about 80%

    Suryapet Khammam project at Telangana is about 52%

    Mancherial Repallewada project at Telangana is about 38%

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3.    Water

    Signed concession agreement with Bihar Urban Infrastructure Development Corporation in October 21 for Bhagalpur waste water project for 45 Million Litres per Day capacity

Update on AdaniConneX (Data Center segment – JV with EdgeConneX)

    53% of construction of Chennai Data Center completed.

Significant updates in Established Businesses for Q2 FY22

1.     Solar Manufacturing

    With strong order book of 1.2 GW the company will continue to focus on this segment to have sustainable growth

2.    Mining Services

    Significant ramp up in GP III, Talabira and Kurmitar mines led to increase in productions volumes by 77% in Q2 FY22

3.    Adani Wilmar

    Total Revenue for Q2 FY22 increased by 57% to 13,588 crore. EBIDTA for the quarter increased by 79% to Rs. 455 crore. 

    In food business, maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market with more than 20% market share.

first published:Oct. 27, 2021, 7:16 p.m.

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