Media Release – Adani Enterprises Ltd Q1 FY24 Results

7 August, 2023 | Anupam Shrivastava

Adani Enterprises Ltd Press Release

Gautam Adani, Adani Group Chairman, hailed their consistent success in incubation and infrastructure driven by Adani Airports, New Industries, Data Center, and Adani Roads, their expertise in large...

  • Consolidated EBIDTA increased by 47% to Rs. 2,896 cr
  • Attributable PAT increased by 44% to Rs. 674 cr
  • ANIL – green Hydrogen ecosystem now at over 10% of EBITDA


Financial Highlights Q1 FY24 (Consolidated) (YoY Basis):

  • Total Income stood at Rs. 25,810 cr
  • EBIDTA increased by 47% to Rs. 2,896 cr
  • Attributable PAT increased by 44% to Rs. 674 cr

Business Highlights:

ANIL EcosystemSolar ManufacturingTotal Module capacity at 4.0 GWWind ManufacturingProvisional certificate received for Prototype INacelle facility operationalBlade mfg. facility ready for commercial productionIngot & Wafer ManufacturingFinancial closure secured for Rs. 900 cr
AdaniConnex Data CenterAdaniConneX Seals the Largest Data Center Financing Deal in India with a USD 213 Mn Construction Financing FacilityAdani Data center business won the “South Asian Company of the Year Award 2023” for delivering data center infrastructure and operational excellence
AAHL – AirportsAdani Airports achieves 44% energy consumption from Renewable Energy sources
ARTL – RoadsAdani Road Transport team won “Energy Conservation Award Gold Category“ in Road Construction
Operational Highlights (YoY Basis):
 BusinessQ1 FY24 
ANIL Ecosystem–     Modules volume up by 87% to 614 MW
AAHL – Airports–     Pax movements up by 27% to 21.3 Mn from seven operational airports
ARTL – RoadsConstruction of 79.8 Lane-KM during the quarter3 out of 10 projects are more than 50% completed
Primary Industries IRM–     Volume stood at 17.8 MMT

Ahmedabad, August 3, 2023: Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the quarter ended June 30, 2023

“Every quarter, year after year and across three decades, Adani Enterprises has consistently proven its reputation not only as India’s most successful business incubator but also as a global powerhouse in infrastructure development,” said Mr Gautam Adani, Chairman of the Adani Group. “These results are a validation of the Adani Group’s robust operational and financial achievements. These outcomes, led by our incubating business of Adani Airports, Adani New Industries, Data Center and Adani Roads, not only underscore our history of creating and nurturing new and vital infrastructure businesses but also emphasise the future value and growth potential of the diverse Adani portfolio. Our expertise in executing large-scale projects, like Kutch Copper, Navi Mumbai Airport, the certification of India’s first 5 MW onshore wind turbine, coupled with our world-class O&M capabilities are fundamental drivers that continue to accelerate our infrastructure journey that is poised to play a significant role in meeting the aspirations of largest emerging middle class cohort in the world. As we explore strategic expansion and growth, we remain committed to upholding the highest standards of governance, compliance and performance.”

Financial Highlights Q1 FY24 (Consolidated) (YoY Basis):

  • Total Income stood at Rs. 25,810 cr on account of correction in coal prices
  • EBIDTA increased by 47% to Rs. 2,896 cr on account of strong operational growth
  • Attributable PAT increased by 44% to Rs. 674 in line with increased EBIDTA

Business Updates (Q1 FY24):

Updates in Incubating Businesses for Q1 FY24

1.              AdaniConnex Pvt Ltd (ACX – Data Center)

  • Update on overall project completion at Data Centers
Data CenterCompletion %
Chennai Phase-II (Phase-I 17 MW operational)74%
  • Orderbook of ~110 MW from Hyperscale & Enterprise customers

2.              Adani Airports Holdings Ltd (AAHL – Airports)

  • During the quarter, Adani Airports handled –
    • 21.3 Mn passengers (Up by 27% YoY)
    • 141.6 k Air Traffic Movements (Up by 12% YoY)
    • 2.5 Lacs MT Cargo (Up by 9% YoY)

3.              Adani Road Transport Ltd (ARTL – Roads)

  • Update for under construction projects is as below:
ProjectStateModelCompletion %
Vijayawada BypassAndhra PradeshHAM55%
Nanasa PidgaonMadhya PradeshHAM58%
Kodad KhammamTelanganaHAM56%
Azhiyur VengalamKeralaHAM35%
Badakumari KarkiOdishaHAM39%
Panagarh PalsitWest BengalBOT47%
Kagal SataraMaharashtraBOT10%
Ganga Expressway – Budaun HardoiUttar PradeshBOT22%
Ganga Expressway – Hardoi UnnaoUttar PradeshBOT15%
Ganga Expressway – Unnao PrayagrajUttar PradeshBOT15%

Updates on Established Businesses for Q1 FY24

1.              Adani New Industries Ecosystem

Solar manufacturing

  • Total operational capacity at 4.0 GW
    • Module sales increased by 87% to 614 MW

Wind Turbine manufacturing

  • Prototype-1 – Provisional certificate received in May-23
    • Nacelle Facility operational
    • Blade manufacturing facility ready for commercial production

Ingot & Wafer manufacturing

  • Financial closure of Rs. 900 cr secured

2.              Primary Industries

  • 5 Nos. of Mining services contracts are operational and delivery as per schedule.
    • Production of Carmichael Mine, Australia at 2.6 MMT
    • Integrated Resource Management volume stood at 17.8 MMT