Adani Enterprises Ltd Q3 FY21 Results Consolidated EBIDTA increased by 6% to Rs. 939 Cr (YoY)
Took over the operations, management and development of Mangaluru, Lucknow and Ahmedabad Airports during the quarter.
Shareholders value increased at CAGR of 105% in last 3 years*
Operational Highlights Q3 FY21 (YoY Basis) :
Solar Manufacturing volume stood at 285 MW
Mining Services production increased by 6% at 5.1 MMT
IRM volume increased by 5% at 21.4 MMT
Signed concession agreement for Guwahati, Jaipur and Thiruvananthapuram Airports on 19th January, 2021
Financial Highlights Q3 FY 21 (Consolidated) (YoY Basis) :
Consolidated Total Income increased by 6% at Rs. 11,788 crore
Consolidated EBIDTA increased by 6% at Rs. 939 crore
Consolidated PAT attributable to owners at Rs. 297 crore vs Rs. 426 crore
* On account of demerger of renewable generation and city gas distribution businesses
Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the third quarter ended December 31, 2020.
Financial Highlights Q3 FY21 (Consolidated) (YoY Basis):
Consolidated Total Income for the quarter increased by 6% at Rs. 11,788 crore owing to increased sales in Solar Manufacturing business.
The EBIDTA for the quarter increased by 6% at Rs. 939 crore owing to increased sales in Domestic Content Requirement segment in Solar Manufacturing business, leading to better margin.
The PAT attributable to owners for Q3 FY21 was Rs. 297 crore vs Rs. 426 crore owing to exceptional write off of exploration block on termination by the Ministry of Petroleum and Natural Gas.
Mr. Gautam Adani, Chairman Adani Group, said, “Adani Enterprises continued its journey towards laying the foundation for several new businesses that the Group is venturing into. These include Airports, Data Centers, Roads, and Water. The fact that Adani Enterprises was able to grow its Revenue and EBIDTA through a year of crisis is a reflection of the resilience of India’s economy as well as our confidence and commitment to continue to invest to build our nation’s infrastructure”
Segment-wise Business Highlights (Q3 FY21) (YoY Basis):
Mining Services
- Production volume at Parsa Kente mine in Chhattisgarh stood at 4.2 MMT vs 4.7 MMT.
- Volume at GP III mine, Chhattisgarh was 0.6 MMT vs 0.06 MMT*
- Volume at Talabira II & III mine, Odisha which was commenced in the first half of FY21, was 0.3 MMT.
Signed Coal Block Development and Production Agreement for two commercial mines; Dhirauli (3 MTPA) in the state of Madhya Pradesh and Gondulpara (4 MTPA) in the state of Jharkhand.
* GP III mine commenced its operations in Q3 FY20
Solar Manufacturing
- Volume constant at 285 MW. However, EBIDTA margins increased from 16% to 30%, due to increase in sale to Domestic Content Requirement segment in the sales mix.
- With strong order book the company will continue to focus on these segments to have sustainable growth
Agro
- 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.
- Total Revenue for Q3 FY21 increased by 31% at 10,257 crore. EBIDTA for the quarter remained constant at Rs. 323 crore
Roads
Out of five concession agreements signed with NHAI under Hybrid Annuity Model for construction of roads aggregating to 200+ KMs, the project completion status in
- Bilaspur Pathrapali project at Chhattisgarh is about 58%
- Suryapet Khammam project at Telangana is about 20%
The company has received LOA from NHAI for six laning of Azhiyur to Vengalam Section of NH-17 under Hybrid Annuity Model in the state of Kerala.
Airport Services
Of the bids won for operation, maintenance and development of six airports,
- Took over Mangaluru, Lucknow and Ahmedabad airports during the quarter
- Signed Concession agreements for Thiruvananthapuram, Jaipur and Guwahati airports on 19th January 2021
All the three operational Airports – Ahmedabad, Mangaluru & Lucknow awarded ACI (Airports Council International) Airport Health Accreditation for safe travel
