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Informist, Thursday, May. 1, 2025

 

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--Adani Ent Jan-Mar consol net profit INR 38.45 bln 
--Adani Ent Jan-Mar consol net profit INR 38.45 bln vs INR 4.51 bln year ago 
--Adani Ent Jan-Mar exceptional income INR 39.46 bln 
--Adani Ent Jan-Mar consol revenue INR 269.66 bln vs INR 291.80 bln year ago 
--Adani Ent to pay INR 1.30 per share dividend 
--Adani Ent board OKs raising up to INR 150 bln via QIP, pref issue, others 
--Adani Ent FY25 consol net profit INR 70.99 bln vs INR 32.41 bln year ago 
--Adani Ent Jan-Mar consol finance costs INR 17.96 bln vs INR 15.13 bln yr ago 
--Adani Ent Jan-Mar consol cost of materials INR 35.90 bln vs INR 28.24 bln 
--Adani Ent Jan-Mar consol EBITDA INR 43.46 bln vs INR 36.46 bln year ago 
--Adani Ent FY25 consol EBITDA INR 167.22 bln vs INR 132.37 bln year ago 
--Adani Ent Jan-Mar mining services revenue INR 12.72 bln vs INR 7.50 bln 
--Adani Ent Jan-Mar airports business revenue INR 28.31 bln vs INR 21.95 bln

 

By Anshul Choudhary

 

MUMBAI – Adani Enterprises Ltd.'s consolidated net profit in the March quarter surged as the company got nearly INR 40 billion from selling a 13.5% stake in AWL Agri Business. However, earnings were largely poor as the company would have reported a loss without this exceptional income and its sales also fell on year.

 

Adani Enterprises had sold part of its stake in AWL Agri Business, earlier known as Adani Wilmar, in an offer for sale during the quarter. It earned INR 40 billion pre-tax, or INR 33 billion post-tax, from the stake sale. This boosted the company's consolidated net profit to INR 38.45 billion during the quarter--a manifold rise from INR 4.51 billion in the March quarter last year. Excluding the pre-tax income from the stake sale, Adani Enterprises would have reported a loss of INR 1 billion.

 

The company's profits were impacted by poor sales during the quarter. Revenue from operations fell nearly 8% on year to INR 269.66 billion during the March quarter. The company reported a year-on-year decline in net sales for the second straight quarter.

 

The company's sales fell due to a sharp drop in revenue from its largest business of integrated resource management, which houses the coal business. Sales from the segment fell over 44% on year to INR 105.28 billion in the March quarter owing to low volumes. Its sales volume from the segment fell 38% on year to 15.30 million tonnes. 

 

Apart from the coal business, the company reported higher volumes in all the other segments including new energy, airports, roads, and mining services. Within this, mining services had a strong performance with volume in this segment rising nearly 30% on year to 14 million tonnes and sales rising 70% on year to INR 12.72 billion. Among other segments, sales from airports business rose 29% on year to INR 28.31 billion.

 

While its largest business of coal struggled, better profitability in other businesses helped the company report higher earnings before interest, tax, depreciation, and amortisation during the quarter. Its consolidated EBITDA in reporting quarter rose 19% on year to INR 43.46 billion.

 

This growth in consolidated operating profit was driven by a 73% rise in EBITDA of Adani New Industries, a 44% rise in EBITDA of airports business, and a threefold increase in EBITDA of mining services. However, the growth in overall profitability was impacted by a 44% year-on-year fall in EBITDA of the coal business to INR 9.24 billion, reporting lower EBITDA than Adani New Energy and airports business.

 

Within expenses, cost of materials consumed rose 27% on year to nearly INR 36 billion and finance costs rose 19% to INR 17.96 billion. However, overall expenses were still down as cost related to purchase of stock-in-trade fell by INR 24 billion to INR 109.78 billion. Owing to this, the company's consolidated expenses were down over 7% on year at INR 262.89 billion in the March quarter.

 

For FY25, the company's net profit more than doubled to INR 70.99 billion, but revenue rose a mere 1.5% to INR 978.95 billion. Apart from the quarterly earnings, the company said it will raise funds worth up to INR 150 billion by issuing equity shares through a qualified institutional placement, private placement, or other methods. The company also approved a dividend of INR 1.30 per share for 2024-25 (Apr-Mar) and fixed its record date as Jun. 13.

 

Wednesday, shares of Adani Enterprises closed at INR 2,301.30 on the National Stock Exchange, down 1.3%. Equity markets were closed Thursday on account of Maharashtra Day.  End

 

Edited by Akul Nishant Akhoury

 

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