Operational Highlights Q1 FY 21:
Volumes across the segments were impacted owing to lower power demand and logistics issues due to Covid-19 pandemic
- IRM volume stood at 7.4 MMT vs 18.5 MMT in Q1 FY 20. Volumes in June 20 improved to 3.57 MMT vs 2.07 MMT in April 20 showing signs of recovery
- Mining Services production was 2.2 MMT vs 2.9 MMT in Q1 FY 20
- Solar Manufacturing volume at 78 MW vs 236 MW in Q1 FY 20
Financial Highlights Q1 FY 21 (Consolidated):
- Consolidated Total Income stood at Rs. 5,502 crores vs Rs. 10,686 crores in Q1 FY 20
- Consolidated EBIDTA stood at Rs.301 crores vs Rs.896 crores in Q1 FY 20
- Consolidated PAT attributable to owners at Rs.30 crores vs Rs.601 crores in Q1 FY 20. In Q1FY20, there was a one-time income of Rs 328 crores.
Ahmedabad, August 6, 2020: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the first quarter ended June 30, 2020.
Financial Highlights (Consolidated):
Consolidated Total Income for the quarter stood at Rs. 5,502 crores vs Rs. 10,686 crores for the corresponding quarter in the previous year. The EBIDTA for the quarter stood at Rs. 301 crores vs Rs. 896 crores in Q1 FY 20. The PAT attributable to owners for Q1 FY 21 was Rs. 30 crores vs Rs. 601 crores in Q1 FY 20. (In Q1 FY20 there was a one-time income of Rs 328 crores.)
COVID 19 impact on Businesses:
With continued lockdown and restrictions during this quarter, our volumes across business segments have been affected. The Company resumed its operations with “Safety First” approach duly following Government guidelines. The operational performance of the businesses continue to recover in phased manner towards Pre COVID level.
Commenting on the quarter result of the company, Mr. Gautam Adani, Chairman Adani Group, said “Adani Enterprises Limited has always focused on businesses which are closely aligned to the lifeline of the economy, providing essential services to enhance the quality of life of citizens and addressing critical national infrastructure priorities. In midst of the pandemic, we see opportunity to expand our footprint and we continue to trace our path towards growth with goodness. Our focus continues to remain in optimizing capital utilization, strengthening the organizational structure to mitigate risk ultimately laying the foundation for consistent value creation”
1. Mining Services
In Mining Services business, production volume at Parsa Kente coal mine in Chhattisgarh stood at 2.0 MMT vs 2.9 MMT in Q1 FY 20. GP III mine, Chhattisgarh was commenced in Q3 FY 20 and the volume for Q1 FY21 stood at 0.2 MMT. Talabira II & III mine, Odisha have commenced in current quarter and the volume stood at 0.02 MMT.
2. Solar Manufacturing
The company has established India’s largest solar cell and module manufacturing unit in Mundra SEZ. The plant has an installed capacity of 1.2 GW fully integrated cell and module manufacturing unit. Q1 FY 21 volumes were 78 MW modules vs 236 MW modules in Q1 FY 20.
In food business, the company has maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market with more than 20% market share.
The company has signed five concession agreements with NHAI under Hybrid Annuity Model for construction of roads aggregating to 200+ KMs, two of which were signed in July 20 each one in the state of Andhra Pradesh and Madhya Pradesh. The project completion status in Bilaspur-Pathrapali project at Chhattisgarh is about 40%.
5. Airport Services
The company has won bids for six airports at Ahmedabad, Mangalore, Lucknow, Trivandrum, Jaipur and Guwahati, out of which concession agreements have been signed for Ahmedabad, Mangalore and Lucknow.