Editor’s Synopsis
Operational Highlights Q1FY18:
- Coal Trading volumes stood at 16 Million Metric Tons (“MMT”) in Q1FY18
- Coal MDO volumes stood at 1.6 MMT in Q1FY18
- Renewable Power Generation was 362.9 Million Units of KWh
- City Gas Distribution volumes up 14% to 110.3 Million Metric Standard Cubic Meters (“MMSCM”)
Financial Highlights (Consolidated):
- Consolidated Income from Operations stood at Rs. 8,779 crores in Q1FY18 Vs Rs. 8,919 crores in Q1 FY17
- Consolidated EBIDTA stood at Rs. 727 crores in Q1FY18 Vs Rs. 806 crores in Q1 FY17
- Consolidated PAT stood at Rs 159 crores in Q1 FY18 Vs Rs 364 crores in Q1FY17
Ahmedabad, August 12, 2017: Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for quarter ended June 30, 2017.
Financial Highlights (Consolidated):
Consolidated Income from Operations for the quarter is Rs 8,779 crores Vs Rs 8,919 crores for the corresponding period in the previous year. The EBIDTA for the quarter is Rs 727 crores Vs Rs 806 crore in Q1FY17. The consolidated PAT for Q1FY18 is Rs 159 crores. The company has maintained its financial performance on comparable basis.
“We continue to focus on our industry leading portfolio of renewable energy, mining and agro businesses. Adani Enterprises remain committed to build and grow global scale businesses and creating assets of national importance.” said Mr. Gautam Adani, Chairman Adani Group.
“The quarterly performance was satisfactory with renewable business witnessing accelerated growth momentum. We had a well-rounded growth at our renewables, city gas and coal businesses during the quarter. This is testimony of intrinsic strength of our business portfolio.” said Mr. Rajiv Nayar, Group CFO Adani Group.
Business Highlights:
1. Coal Mine Development and Operations (“MDO”)
In Mine Development and Operations (MDO) business at Parsa Kente coal mines in Chattisgarh, the Company has supplied washed coal of 1.64 MMT to RRVUNL in Q1FY18 as compared to 2.13 MMT in Q1FY17, a decrease of 23% due to lower offtake by RRVUNL. The Company received Letter of Award (LoA) for appointment for Gare Pelma Sector - III coal block of Chhattisgarh State Power Generation Company Ltd.
2. Renewable Energy
The company has operationalized renewable projects of 808 MW with a further pipeline of 1280 MW of projects under various stages of implementation across the country. The Company has generated 362.99 MU Kw/h in Q1FY18 as compared to 104.94 MU Kw/h in Q1FY17 on account of operationalization of projects.
3. City Gas Distribution
The company provides piped natural gas to households, industrial and commercial consumers and compressed natural gas for automobiles in 4 cities - Ahmedabad, Vadodara, Faridabad and Khurja. The company envisages future growth through a 50:50 Joint Venture with Indian Oil Corporation which has been awarded the city gas project in cities - Allahabad, Chandigarh, Ernakulum, Daman, Panipat, Udham Singh Nagar and Dharwad. Operations have started in Chandigarh and Allahabad and the projects are at various stages of implementation in other cities.
4. Agro
In edible oil business, the company has maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market.
In agro storage business, the company has recently operationalized storage facilities with capacity of 1 lac MT at Kotkapura and Katihar. The company recently won 6 projects from Punjab Govt. with a capacity of 3 lacs MT.