Ahmedabad, January 30, 2025 – Adani Enterprises Limited (AEL) (BSE: 512599, NSE: ADANIENT) reported its unaudited financial results for the quarter and nine months ended December 31, 2024. The company's performance was marked by steady revenue, notable investments, and key regulatory developments.
Key Financial Highlights (₹ in Crores)
| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 |
|---|---|---|---|---|---|
| Revenue from Operations | 22,848.42 | 22,608.07 | 25,050.23 | 70,928.89 | 67,240.96 |
| Total Income | 23,500.54 | 23,196.18 | 25,540.35 | 72,763.44 | 68,651.22 |
| EBITDA Margin (%) | 12.06% | 14.29% | 11.39% | 12.82% | 10.72% |
| Net Profit | 228.64 | 1,989.19 | 1,972.75 | 3,990.09 | 2,983.02 |
| Earnings Per Share (EPS) (₹) | 0.04 | 14.82 | 16.10 | 27.07 | 24.48 |
Segment Performance
- Integrated Resources Management: Revenue stood at ₹8,979.61 crores, reflecting a decline compared to ₹16,021.04 crores in Q3 FY24.
- Mining Services: Strong revenue growth of ₹836.16 crores from ₹436.88 crores in Q3 FY24.
- Commercial Mining: Revenue at ₹1,819.22 crores, maintaining stability.
- New Energy Ecosystem: Grew to ₹2,816.44 crores from ₹2,064.85 crores in Q3 FY24.
- Airports: Revenue at ₹2,908.38 crores, showing YoY growth from ₹2,179.44 crores.
- Roads: Marginal decline at ₹1,886.84 crores vs. ₹1,995.00 crores in Q3 FY24.
- Others: ₹7,076.13 crores, showing strength in diversified businesses.
Corporate Announcements & Strategic Developments
- Qualified Institutional Placement (QIP): Raised ₹4,200 crores by allotting 1.41 crore equity shares.
- Adani Wilmar Stake Reduction: Sold 17.56 crore shares (~13.51% stake), reducing ownership from 43.94% to 30.42%.
- Power Trading Business Divestment: Transferred to Powerpulse Trading Solutions for ₹8.50 crores.
- Mergers & Acquisitions:
- Mumbai International Airport Limited (MIAL): Under scrutiny over financial transactions worth ₹845.76 crores.
- Cement Expansion: Adani Cementation Limited approved a merger with Ambuja Cements.
- New Business Acquisitions: Stake purchases in Cococart Ventures Private Limited, Semolina Kitchens Private Limited, Aviserve Facilities Private Limited, and Aviground Facilities Private Limited.
Regulatory & Legal Matters
- MIAL Investigations: Ongoing probes by MCA, CBI, and Enforcement Directorate regarding past fund diversions.
- Short Seller Report (SSR) Impact: SEBI continues its review; Adani Enterprises maintains there are no material consequences.
- Arbitration Ruling: Airports Authority of India (AAI) case over force majeure-related dues for MIAL remains pending.
- Coal Import Duties Dispute: ₹863.62 crore tax demand contested in various courts.
Management Commentary
"We continue to expand strategically, leveraging our strong financial position and capital-raising ability. The focus remains on infrastructure growth, clean energy investments, and enhancing shareholder value," said Gautam Adani, Chairman, Adani Enterprises Limited.Outlook
- Future Growth in Renewable Energy & Airports: Expansion in new energy and infrastructure is expected to drive long-term profitability.
- Debt Management: Maintained a Debt-to-Equity ratio of 1.35x.
- Upcoming Developments: Further mergers, acquisitions, and regulatory updates.
Investor Insights
- Stock Performance: Investors will watch closely for regulatory clarity.
- Growth Potential: Expansion in clean energy, infrastructure, and logistics supports long-term prospects.
- Risk Factors: Ongoing legal and regulatory reviews, global market conditions, and interest rate fluctuations.