Adani Enterprises Consolidated PAT rose 293% to Rs 1,211 crore for 9MFY15

Consolidate PAT rose 551% to Rs 444 crore for Q3FY15

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Editor’s Synopsis

Financial Highlights:

  • Consolidated Total Income for Q3FY15 increase by 30% to Rs 17,850 crore vs Rs 13,739 crore in Q3FY14
  • Consolidated EBIDTA for Q3FY15 rose by 57% to Rs 3,491 crore vs Rs 2,227 crore in Q3FY14
  • Consolidated PAT for Q3FY15 rose by 551% to Rs 444 crore vs Rs 68 crore in Q3FY14
  • Consolidated Total Income for 9MFY15 increase by 25% to Rs 48,441 crore vs Rs 38,884 crore in 9MFY14
  • Consolidated EBIDTA for 9MFY15 increase by 58% to Rs 9,845 crore vs Rs 6,227 crore in 9MFY14
  • Consolidated PAT for 9MFY15 rose by 293% to Rs 1,211 crore vs net loss of Rs 627 crore

 

Operational Highlights:

  • In 9MFY15, Coal Trading volume grew by 42% to 44 MMT as compared to 31 MMT in 9MFY14. Similarly, coal trading volume grew by 61% to 17 MMT in Q3FY15 as compared to 10.5 MMT in Q3FY14
  • In 9MFY15, Ports cargo volume grew 29% to 108 MMT compared to 9MFY14. Similarly, Ports cargo volume grew by 33% to 39 MMT in Q3FY15 compared to 29 in Q3FY14
  • In 9MFY15, Power sales volume grew by 36% to 39 BUs compared to 9MFY14. Similarly, power sales volume grew by 32% to 14.7 BUs in Q3FY15 compared to 11.2 BUs in Q3FY14

 

Business Highlights:

  • Adani awarded mine operations contract to Downer EDI for Carmichael Coal Mine project in Queensland, Australia
  • The Board of Directors of AEL unanimously approved the Scheme of Demerger of its business and undertakings, refer Scheme of Arrangement for details
  • Adani Power has signed a binding term sheet to acquire 100% stake in Korba West Power Company Limited

Ahmedabad, January 30, 2015: Adani Enterprises Ltd, the flagship company of the Adani Group, today announced its results for the third quarter and nine months ended December 31, 2014.

 

Financial Highlights:

 

The consolidated Total Income for quarter increased by 30% to Rs 17,850 crore against Rs 13,739 crore in the corresponding period last year. The consolidated EBIDTA increased by 57% to Rs 3,491 crore against Rs 2,227 crore in the corresponding period last year. The consolidated PAT for Q3FY15 is Rs 444 crore against Rs 68 crore in the corresponding period last year.

 

The consolidated Total Income for nine months ended December 31, 2014 increased by 25% to Rs 48,441 crore against Rs 38,884 crore in the corresponding period last year. The consolidated EBIDTA increased by 58% to Rs 9,845 crore against Rs 6,227 crore in the corresponding period last year. The consolidated PAT for 9MFY15 is Rs 1,211 crore.

 

Our Port, Power and Coal businesses continue to grow on a steady basis. We are actively investing in changing the Indian scenario. Recently we have signed a Memorandum of Understanding (MoU) with SunEdison Inc to jointly invest $4 billion in setting up India’s largest integrated solar photovoltaic manufacturing facility in Mundra, Gujarat, and also signed a MoU with Australian energy major Woodside Energy for exploring business opportunities across a broad spectrum in the oil and gas sector in India.

 

Mr Gautam Adani, Chairman Adani Group, said, “The Scheme of Arrangement will simplify corporate structure and is a decisive step towards unlocking the potential value of the Adani Group Companies. The Scheme of Arrangement will drive next level of value creation, competency, decision making and would be able to accelerate the business growth. These developments and positive macro-economic environment re-affirm our commitment towards securing infrastructure and energy need of the country.”

 

Mr Ameet Desai, CFO Adani Group and Executive Director, Adani Enterprises, said, “Our overall performance has improved due to higher contribution from Coal, Ports & Logistics and Power businesses. The shareholders would continue to participate in the growth and progress of Adani with direct shareholding in the respective listed companies. In addition they would also get shares in one of the largest private sector transmission companies with over 5,000 circuit Kms of transmission lines across Western, Northern and Central regions of India. It also allows shareholders to participate individually in the growth areas of Resources, Energy and Logistics.”

 

Business Highlights:

 

1. Coal Trading & Mining


The company has successfully embarked on Coal Mining Business and stabilized mining operations at its Indonesian mine.
Australian Engineering Group, Downer EDI has won a 2 billion dollar contract from Adani Group's Carmichael Coal Mine project in Queensland, Australia. This is one of the largest deals of its type signed in the country in recent years. Downer will be responsible for statutory management, mine operations, drilling, blasting, load and haul of waste and coal. This marks a major milestone for our investment in the country, which is expected to generate tremendous economic benefits for Australia and aid India’s ambition of achieving energy security.

 

2. Ports


Consolidated cargo handled by the company was 108 MMT in 9MFY15, an increase of 29%, over the same period last year. Adani ports at Mundra handled 84 MMT cargo in 9MFY15 thereby continuing its leadership as the largest commercial port in India. Mundra port registered a 13% growth in 9MFY15 compared to 5% aggregate cargo growth at all major ports.


Also, in containers, Mundra port handled 2.02 Million TEUs in 9MFY15 as against 1.68 Million TEU’s in the same period last year resulting in a 20% growth as compared to aggregate growth of 8% in container volumes at other major ports.


Adani Ports awarded as “Best Port of the Year” and “Container Handling Port of the Year” at Gujarat Star Award 2014 and won 6 awards at 28th National Convention on Quality Concept held at Pune.


Adani Ports also handled its largest ever coal vessel of 207,000 DWT at its West Basin in Mundra.
The port at Dahej and Hazira handled a cargo of 10 MMT and 5 MMT in 9MFY15 showing growth of 50% and 66% respectively.
While coal terminal at Visakhapatnam port and Mormugao has been completed, the dry bulk terminal at Tuna Tekra is expected to be commissioned in the current quarter.


3. Power Generation & Transmission


The company achieved thermal power generation capacity of 9240 MW.


4. Other Development


Adani Enterprises signed a MoU with SunEdison to establish a Joint Venture to build the largest, vertically integrated solar photovoltaic manufacturing facility in India.


Adani Enterprises has signed a MoU with Australian energy major Woodside Energy for cooperation for exploring business opportunities across a broad spectrum in the oil and gas sector in India.

© 2015 Adani Group