Adani Enterprises consolidated income up 49% to Rs 39,356 crore


Adani Enterprises Ltd, the flagship company of the Adani Group - a global integrated player, today announced its results for the financial year and fourth quarter ended March 31, 2012.


For the year ended March 31, 2012, consolidated income increased by 49% to Rs 39,356 crore, against Rs 26,405 crore in the previous year. The consolidated EBIDTA rose by 24% to Rs 5,546 crore against Rs 4,465 crore in the last year, driven by higher contribution from coal trading & port business. The consolidated net profit stood at Rs 1,839 crore compared to Rs 2,476 crore in the last fiscal.


For the fourth quarter ended March 31, 2012, consolidated income stood at Rs 10,637 crore, as compared to Rs 9,112 crore of FY11. The net profit was lower at Rs 309 crore, compared to Rs 928 crore in the corresponding quarter last year. While the port and coal trading businesses had a robust growth, higher fuel costs in the power business affected our PAT.


Commenting on the results, Gautam Adani, Chairman Adani Group, said, “Adani Enterprises has pioneered a unique leadership initiative to transform itself into an integrated business player and to focus on three core businesses of resources, logistics and energy. These three businesses are strong enough on their own and bring synergy for the stakeholders. The Adani Group would continue to build its strengths in these core sectors nationally and internationally.”


Devang Desai, CFO Adani Group and Executive Director, Adani Enterprises, said, “The past year have presented many unexpected challenges in resources and energy businesses. The results are obviously impacted by this environment, however going forward, in the coming year, we believe that many of the issues impacting the financial performance of the company will be resolved.”


Operational highlights of FY 2011-12


  • Adani Enterprises maintained leadership position by importing 36 million MT of coal and captured 50% market share in FY12
  • Mundra Port has emerged as the 4th largest commercial port in India
  • Successfully completed re-financing of $2 billion for Abbot Point Coal Terminal in Australia
  • Received letter of intent to set up a dry bulk terminal at Kandla Port
  • Commissioned India’s largest thermal power plant with a capacity of 4,620 MW in Mundra, Gujarat
  • Commissioned India’s largest solar power project of 40 MW in Kutch


Business Highlights


1. Power Generation

During the year ending March, 2012, Adani Power Ltd, a subsidiary of Adani Enterprises, sold 12.35 billion units from its Mundra power plant. The company’s total power generation capacity now stands at 4,620 MW including five 660 MW super critical power generation units. Average plant load factor for the year was at 69%, despite transmission constraints.


2. Port Operations

Adani Ports & SEZ Ltd handled 77.75 million MT of cargo during FY12. The Mundra Port emerged as the 4th largest commercial port in India with 64 million MT cargo in FY12. The company aims to achieve a total cargo capacity of 200 million MT by 2020.


3. Coal Mining

Adani Enterprise will begin its maiden MDO operations in this quarter in Chhattisgarh.


Our Australian mining business is on track. We have acquired the land of coal tenements. The environment and other permissions are as per the schedule and are expected by the last quarter of this financial year.


We are also expecting the financial closure during this year and will start construction of mine, rail and port capacities. The first coal production from this Australian mine is expected to begin in the last quarter of FY14 or the first quarter of FY15.


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