Adani Enterprises Ltd Q4 FY21 Results

Consolidated EBIDTA increased by 65% to Rs. 1068 Cr (YoY)

Attributable Profits (Before Exceptional Items) increased to almost 7 times at Rs. 413 crore

Acquisition of 23.5% stake in Mumbai International Airport

Shareholders value increased at CAGR of 113% in last 4 years*

Operational Highlights Q4 FY21 (YoY Basis) :

• Solar Manufacturing volume increased by 95% to 376 MW
• Mining service production increased by 34% at 6.7 MMT
• Integrated Resources Management (IRM) volume stood at 18.8 MMT vs 23.9 MMT
• Signed concession agreement for Guwahati, Jaipur and Thiruvananthpuram Airports on 19th January, 2021
• Formed joint venture “AdaniConnex” with EdgeConnex to develop and operate data centers throughout India.

Financial Highlights Q4 FY 21 (Consolidated) (YoY Basis) :

• Consolidated Total Income remained constant at Rs. 13,689 crore
• Consolidated EBIDTA increased by 65% at Rs. 1068 crore
• Consolidated PAT attributable to owners (before Exceptional Item) increased to almost 7 times at Rs. 413 crore^#.

Financial Highlights FY 21 (Consolidated) (YoY Basis) :

• Consolidated Total Income stood at Rs. 40,291 crore vs 44,086 crore
• Consolidated EBIDTA increased by 10% at Rs. 3259 crore
• Consolidated PAT attributable to owners (before Exceptional Item) increased by 26% at Rs. 1182 crore^@

( * On account of demerger of renewable generation and city gas distribution businesses,

# Exceptional loss of Rs. 179 crore in Q4 FY21,

@ PAT for FY 21 was Impacted by exceptional loss of Rs. 259 crore and there was an Exceptional gain of Rs. 199 crore in FY 20)

Ahmedabad, May 5, 2021: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the fourth quarter ended March 31, 2021.

Financial Highlights Q4 FY21 (Consolidated) (YoY Basis) :

• Consolidated Total Income for the quarter remained constant at Rs. 13,689 crore.
• The EBIDTA for the quarter increased by 65% at Rs. 1068 crore owing to better margins in IRM segment and increased sales in Domestic Content Requirement segment in Solar Manufacturing business, leading to better profits.
• The PAT attributable to owners (Before Exceptional Item) increased to almost 7 times at Rs. 413 crore vs Rs. 61 crore due to higher EBIDTA. The profit for Q4 FY21 was impacted by one-time exceptional loss of Rs. 179 crore

Financial Highlights FY 21 (Consolidated) (YoY Basis) :

• Consolidated Total Income for the year stood at Rs. 40,291 crore vs 44,086 crore due to 20% reduction in volumes in IRM segment
• The EBIDTA for the year increased by 10% at Rs. 3,259 crore owing to better performance in Solar Manufacturing segment due to increased sales in Domestic Content Requirement segment, leading to better margins.
• The PAT attributable to owners (before exceptional items) increased by 26% at Rs. 1,182 crore. FY 21 was impacted by one time exceptional loss of Rs. 259 crore and there was an exceptional gain of Rs. 199 crore in FY 20.

Mr. Gautam Adani, Chairman Adani Group, said, “I am pleased with the results Adani Enterprises has delivered. Despite the challenges our nation and our people have faced over the past year, we have remained true to the philosophy of atmanirbharta in every business that AEL incubates. The executional success we have been able to achieve in expanding into roads, water, airports and data centres augurs well for the Adani Group and our shareholders. In addition, our exciting businesses related to solar manufacturing, mining and airports are excellent examples of the Adani Group’s ability to execute and deliver on the commitments we make to the markets”

Segment-wise Business Highlights (Q4 FY21) (YoY Basis):

1. Mining Services

• Production volume at Parsa Kente mine in Chhattisgarh increased by 24% at 5.6 MMT
• Volume at GP III mine, Chhattisgarh was 0.5 MMT vs 0.5 MMT
• Volume at Talabira II & III mine, Odisha which was commenced in the first half of FY21, was 0.6 MMT.
• Operationalized Kurmitar iron ore mine on 1^st April 2021

2. Solar Manufacturing 

• Volume increased by 95% at 376 MW.
• with strong order book the company will continue to focus on these segments to have sustainable growth

3. Roads

• Out of five concession agreements signed with NHAI under Hybrid Annuity Model (HAM) for construction of roads aggregating to 200+ KMs, the project completion status in

• • Bilaspur Pathrapali project at Chhattisgarh is about 70%
  • Suryapet Khammam project at Telangana is about 20%
  • Mancherial Repallewada project at Telangana is about 20%

• The Company has signed concession agreement for Azhiyur Vengalam Road Pvt Ltd on 31st March 2021. The same is a HAM project for construction of 42 Kms road in Kerala.
• The company has received LOA from NHAI for 4 projects in the state of Telangana, Odisha, West Bengal and Gujarat.
• Out of the 4 projects; 2 are under HAM, one under Build Operate Transfer Model and one under Toll Operate Transfer Model.

4. Airport Services

• Acquired 23.5% stake in Mumbai International Airports Ltd from ACSA and Bidvest.

• Of the bids won for operation, maintenance and development of six airports,

• • Took over Mangaluru, Lucknow and Ahmedabad airports in Q3 FY21
  • Signed Concession agreements for Thiruvananthapuram, Jaipur and Guwahati airports on 19^th January 2021

5. Data Centers

• Formed a joint venture “AdaniConneX” with EdgeConnex to develop and operate data centers throughout India, leveraging two partners complementary expertise and capabilities.
• Roped in Flipkart as a strategic partner to develop its data center at AdaniConneX’s Chennai facility

6. Adani Wilmar

• 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 Q4 FY21 increased by 47% at 10,696 crore. EBIDTA for the quarter remained stood at Rs. 379 crore.

(^ – Considered as a JV and consolidated based on equity method of consolidation)

About Adani Enterprises Ltd

Adani Enterprises Limited (AEL) 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, contributing to nation-building and divesting them into separate listed entities. Having successfully built unicorns like Adani Transmission, Adani Power, Adani Ports & SEZ, Adani Green Energy and Adani Total Gas, the company has contributed significantly to make the country self-reliant with our current portfolio of robust businesses. The next-generation of its strategic business investments are centered on the fields of airport management, technology parks, roads, data center and water infrastructure. Following these principles has led to very strong returns to our shareholders. A one-rupee investment in Adani Enterprises, which was the group’s first IPO in 1994, has returned over 800x.

(Sanket Mehta)