Adani Enterprises Ltd posts robust FY24 results, incubating businesses show strong momentum
Driven by strong momentum in its incubating businesses to fuel the growth of the Indian economy, Adani Enterprises Ltd (AEL) on Thursday reported a 32 per cent increase in consolidated EBITDA at Rs 13,237 crore in FY24, while profit before tax (PBT) surged 56 per cent to Rs 5,640 crore.
IANS
May 2, 2024 09:31
0
New Delhi, May 2 (IANS) Driven by strong momentum in its incubating businesses to fuel the growth of the Indian economy, Adani Enterprises Ltd (AEL) on Thursday reported a 32 per cent increase in consolidated EBITDA at Rs 13,237 crore in FY24, while profit before tax (PBT) surged 56 per cent to Rs 5,640 crore.
The emerging core infra businesses of Adani New Industries Ltd (ANIL) ecosystem, airports and roads made significant strides in their operational performance.
The contribution of these businesses to the overall EBITDA increased to 45 per cent for FY24, compared to 40 per cent in FY23, said the company.
"Adani Enterprises has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development," said Gautam Adani, Chairman of the Adani Group.
"AEL’s resilient growth model of incubation confirms the operational and organisational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders," he noted.
For the fourth quarter (Q4) of the last fiscal year, AEL reported EBITDA at Rs 3,646 crore, as compared to Rs 3,974 crore in Q4 FY23. PBT stood at Rs 1,322 crore compared to Rs 1,554 crore in Q4 FY23. The EBITDA for the ANIL ecosystem increased by 4.6 times to Rs 2,296 crore in FY24.
ANIL’s solar manufacturing division successfully commissioned India’s first large-sized monocrystalline ingot and wafer unit of 2 GW capacity. In FY24, the copper unit under Kutch Copper Ltd commissioned the 500 KTPA Greenfield copper refinery project, showcasing the Adani Group's ability to plan and execute large-scale projects in record time.
Adani Airports also inaugurated Phase I of Integrated Terminal 3 of Lucknow Airport and AdaniConneX’s orderbook increased to 210 MW from 112 MW in the last fiscal year.
The next generation of AEL’s strategic business investments is centred around green hydrogen ecosystem, airport management, data centres, roads and primary industries like copper and petrochem.
