Adani Enterprises Q1 PAT jumps 73% YoY to Rs 469 cr

5 Aug 2022 , 11:40 AM

Net sales in the first quarter stood at Rs 40,844.25 crore, surged 224.7% from Rs 12,578.77 crore reported in the same period last year. Total income jumped 222.6% to Rs 41,066.43 crore in Rs 12,730.63 crore in Q1 FY23 over Q1 FY22. The increase in total income was on account of of strong performance by IRM and Airport business. EBIDTA increased by 107% to Rs 1,965 crore due to full consolidation of airports business and improved realizations in IRM business. The attributable PAT increased by 73% to Rs 469 crore. In Q1 FY23, Adani Airports handled 16.6 million passengers, 126,000 air traffic movements and 2.3 lakhs MT cargo. With respect to the roads business, the company received provisional COD for Bilaspur hybrid annuity model (HAM) road project. Concession agreement signed for Kagal-Satara road project of 65 KMs in Maharashtra state on Build, Operate and Transfer (BOT) basis. Construction activities has also started in Azhiyur Vengalam, Kodad Khammam, Badakumari Karki & Panagarh Palsit road projects. In the Data Center segment, 97% of construction of Chennai Data Center completed while construction at Noida Data Center started. In the Supply Chain Ecosystem business, Module line trial run started for new 2.0 GW capacity plant & cell line and comprehensive project expected COD by Q2 FY23. Volume in Q1 FY23 stood at 264 MW. In the Mining Services segment, Mining Services production up by 72% to 8.1 MMT on YoY basis and Suliyari mining services made operational and started production. Gautam Adani, the chairman of the Adani Group, said, While our diversified growth is reflected across our range of businesses, Adani Enterprises continues to prove itself as one of the worlds most successful multi-industry incubators. AELs incubation strategy has no parallel and we intend to further leverage this unique business model as we transform the Adani Group into an integrated platform of platforms with unprecedented access to the Indian consumer. AELs high growth lays the foundation for us to accelerate the continued development of new businesses like data centres, airport ecosystems, road and water infrastructure, defence and aerospace, and digital technology services. Through our partnership with TotalEnergies in ANIL, we have also begun our journey to become the worlds largest player in green hydrogen. Separately, Adani Enterprises intimated that Adani Road Transport (ARTL), a subsidiary of the company has entered into a definitive agreement to acquire 56.8% stake in Gujarat toll roads portfolio (GRICL) and 100% stake in Andhra Pradesh toll roads portfolio (STPL). The acquisition is at an enterprise value of Rs 3,110 crore. The portfolio has an LTM EBITDA of Rs 456 crore with approximately Rs 165 crore of net debt. This translates into an EV/EBITDA multiple of approximately 6.8 times. Adani Enterprises (AEL) is the flagship company of Adani Group, one of Indias largest business conglomerates. The companys business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure. Shares of Adani Enterprises were down 0.32% to Rs 2,714.40 on the BSE. Powered by Capital Market – Live News