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
• The signed concession agreement for Guwahati, Jaipur, and Thiruvananthapuram Airports on 19^th 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

Ahmedabad, February 3, 2021: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the third quarter ended December 31, 2020.

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

 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):

1. 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

2. 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

3. 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

4. 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.

5. 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 19^th January 2021

• All the three operational Airports – Ahmedabad, Mangaluru & Lucknow awarded ACI (Airports Council International) Airport Health Accreditation for safe travel

 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 the recently formed Adani 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 solar PV manufacturing, airport management, technology parks, 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)