Adani Enterprises consolidated Q3 FY12 Net Sales up 60% to Rs 9,038 crores

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Editor’s Synopsis

Adani Enterprises Ltd, the flagship company of India’s leading infrastructure conglomerate the Adani Group, today reported its financial results for the third quarter and nine months period ended December 31, 2011.

 

Consolidated Numbers (Rs in crore)

 

Particular Consolidated

Q ended,

Dec 11

Q ended,

Dec 10

% Change

Nine-month ended,

Dec 11

Nine-month ended,

Dec 10

% Change
Turnover 9,038 5,643 60% 28,719 17,294 66%
EBITDA 1,572 1017 55% 4,322 2890 50%
Profit Before Tax 509 650 21% 2,062 2,003 3%
Net Profit 407 474 (14%) 1530 1548 (1%)
EPS (Rs) 3.70 4.95 13% 13.91 14.71 -2%
 

 

Net profit for the three months ending December 31, 2011 stood at Rs 407 crore, compared to Rs 474 crore in the same period last year. Net sales for Q3 FY12 stood at Rs 9,038 crore, up 60%, over Rs 5,643 crore in the corresponding period last year.

 

For the nine-month period (9M FY12) ended December, 2011, the company’s net profit has marginally decreased to Rs 1530 crore, as against Rs 1,548 crore of the corresponding period a year ago. The company clocked net sales of Rs. 28,719 crore for the 9M FY12 versus Rs. 17,294 crore in the same period of last year.

The EBIDTA margin for Q3 FY12 was at 17.4% vs. 18.0% in Q3 FY11. The Net Profit margin for Q3 FY12 stood at 4.5% vs. 8.4% in Q3 FY11 and reduction is primarily on account of Foreign Exchange Fluctuation Loss (mostly unrealised) of 563 Crs

 

Earnings per share for Q3 FY12 stood at Rs 3.70 as compared to Rs 4.27 a share in the corresponding period a year ago.

 

Commenting on the quarterly results, Gautam Adani, Chairman, Adani Enterprises Ltd, said, “The group has performed strongly across its various domains. The operating profit during the quarter has doubled compared to the corresponding quarter of previous year and has posted a steady growth over previous quarter. The overall profitability has been impacted largely due to losses on account of foreign exchange fluctuation.”

 

Segment wise EBIDTA breakup (Rs in crore)

Particulars

Q3 FY12

Q3 FY11

Power

247

339

Port

655

331

Coal Trading

550

332

Other Businesses

120

14

 

Business Highlights

 

1. Power Generation During the quarter, Adani Group commissioned a 40 Megawatt (MW), country's largest, solar power Plant in Kutch district, Gujarat. For India’s largest private thermal power producer, the Solar Power Plant marks Adani’s first big foray in the renewable energy sector. Going forward, Adani plans to expand the capacity of this plant to 100 MW.

 

The company has commissioned country's largest Solar Power Plant in record time of 150 days starting from foundation stone laying to electricity generation.

 

During the quarter ending December, 2011 quarter, Adani Power Ltd, a subsidiary of Adani Enterprises generated 3381 million units at the Mundra power plant. The company’s total power generation capacity now stands at 2,640 MW including second 660 MW super critical power generation unit that was synchronised first quarter of current fiscal. Average plant load factor for the quarter was at 66%.

 

2. Port Operations The Adani Ports & SEZ Ltd handled 20.42 million tonnes cargo during Q3 FY12, making it the 4th largest commercial port in India. It aims to handle total cargo capacity of about 300 million tonnes by 2012-13 including Australia’s Adani Abbot Point Coal Handling Terminal.

 

3. Coal Mining Progress at our Australian Mine project is very encouraging; we have acquired all the required mining land and shall shortly obtain the environment approvals.

Our Indian Mine Operation shall commence in the ensuing quarters.

 

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