Adani Enterprises Consolidated PAT rose 53% to Rs 474 cr for Q4FY13

Consolidated EBITDA up 49% to Rs 1,908 cr for Q4FY13

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Editor’s Synopsis

  • Consolidated Total Income for Q4FY13 rose by 8% to Rs 11,513 cr vs. Rs 10,636 cr in Q4FY12
  • Consolidated EBIDTA for Q4FY13 rose by 49% to Rs 1,908 cr vs. Rs 1,281 cr in Q4FY12
  • Consolidated PAT for Q4FY13 rose by 53% to Rs 474 cr vs. Rs 309 cr in Q4FY12.
  • Consolidated Total Income for FY13 up 18% at Rs 46,462 cr vs. Rs 39,356 cr in FY12
  • Consolidated PAT for FY13 stood at Rs 1,613 cr

 

Achieved Robust Volumes in FY13:

 

  • 46.5 MMT in Coal Trading
  • 90.7 MMT of Port cargo handled
  • 20.8 Bn Power units sold
  • Adani Enterprises under its “Mine Developer and Operator” business started delivery of Coal from Parsa-Kante block in Chhattisgarh to Rajasthan utility.
  • Abbot Port divestment has been completed with independent valuation as per instructions of independent directors, enhancing the financial strength of APSEZ.
  • Adani Power Maharashtra signed additional FSA with South Eastern Coalfields Ltd for Tiroda and thus total FSA for Tiroda plant is 4.2 MMT. The company currently has 10.6 MMT of FSA for Mundra and Tiroda Power Projects.
  • In addition to this Adani Power Maharashtra has operationalized another unit of 660 MW and Adani Power Rajasthan synchronized one unit of 660 MW in Q1FY14.

Ahmedabad, May 20, 2013: Adani Enterprises Ltd, the flagship company of the Adani Group - a global integrated player, today announced the financial results for the fourth quarter and financial year ended March 31, 2013.

 

Financial Highlights:

 

On Consolidated basis, the total income for the year ending March 2013 rose by 18% to Rs 46,462 Crore compared to Rs 39,356 Crore. The EBIDTA increased by 24% to Rs. 6,898 Crore compared to Rs. 5,546 Crore in the last year. The net profit for year ending March 2013 was Rs. 1,613 Crore.

 

On Consolidated basis, the total income for Q4FY13 rose by 8% to Rs 11,513 crore against Rs 10,636 crore of Q4FY12. The consolidated EBIDTA increased by 49% to Rs 1,908 crore against Rs 1,281 crore in Q4FY12, driven by higher contribution from the port business and coal trading. The consolidated net profit increased by 53% to Rs 474 crore in the Q4FY13 against Rs 309 crore in same period last year.

 

Commenting on the results, Mr Gautam Adani, Chairman Adani Group, said, “With the commencement of our MDO operations at Parsa Kante, Chattisgarh, we have repeatedly demonstrated our excellence at seamless project execution and operational stabilization among uncertainties. We will exhibit similar resilence in overcoming all challenges and continue superior performance delivery in all our focus areas of Resources, Logistics and Energy.”

 

Mr Devang Desai, CFO Adani Group and Executive Director, Adani Enterprises, said, “During the year, our coal trading and ports & logistics businesses have shown excellent growth both in term of volumes and profitability. We expect better performance in the ensuing years from these businesses where we have established clear competitive edge. Our power business went through trying times overcoming structural bottleneck of coal availability, increased prices and constraints on power evacuation. With focused efforts, we expect an early resolution on these matters to revitalize the sector and ensure your company’s leadership edge.”

 

The independent valuation of Abbot Point investment as per the instructions of the independent directors has been done. The divestment value of AUD 235.71 Million reflects the full investment value.

 

 

Business Highlights:

 

1. Coal Trading & Mining

In its MDO (Mine Development & Operations) business, coal production and delivery of coal started from Parsa Kante block in Chhattisgarh to Rajasthan Rajya Vidyut Utpadan Nigam Ltd.

 

Adani completes extensive coal mining exploration programme at the Carmichael mine in Australia and has established Joint Ore Reserves Committee’s (JORC) standard resource of 10.2 bn in the Galilee Basin Tenement.

 

The Environmental Impact Statement (EIS) and other approvals for the Carmichael Coal Mine and Rail Project are expected to come as per the schedule.

 

2. Ports

Adani Ports becomes no.1 coal handling port in India (26.76 MMT) in FY 12-13. Mundra Port continues to be the 2nd largest commercial port of India both in total cargo as well as in the containers.

The port at Dahej has performed exceedingly well during the year. There is a four-fold increase in cargo handled at Dahej port of 7.56 MMT as against 2.14 MMT cargo handled a year ago.

Adani Ports AMCT won “Best Container Terminal of the Year 2013” award at Sixth Annual Maritime Gateway Awards

All the other ports in Dahej and Hazira are operating well and the progress at all other ports in Goa, Vizag, Tuna Tekra are on schedule.

 

3. Power Generation& Transmission

The company expects to achieve thermal power generation capacity from current 5320 MW to 9240 MW by 2013.

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