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In a testament to their robust business strategies and operational prowess, Adani Enterprises Ltd (AEL) and Adani Ports and Special Economic Zone Ltd (APSEZ) have reported stellar financial performances for the fiscal year ending March 31, 2024.
Adani Enterprises Ltd (AEL) FY24 Results
AEL, the flagship company of the Adani Group, unveiled impressive financial figures for FY24. The company witnessed a significant surge in its consolidated EBIDTA by 32%, amounting to Rs. 13,237 crore, while its consolidated Profit Before Tax (PBT) soared by an impressive 56%, reaching Rs. 5,640 crore. Notably, the incubating businesses segment experienced a remarkable growth of 47% year-on-year in its consolidated EBIDTA, highlighting the company's commitment to nurturing emerging sectors.
Operationally, AEL achieved noteworthy milestones during the fiscal year. It successfully operationalized India’s first large-sized ingot-wafer unit with a capacity of 2 GW, showcasing its leadership in the renewable energy sector. Additionally, the commencement of operations at the copper unit of 500 KTPA in Mundra further fortified AEL's position in the primary industries segment.
Mr. Gautam Adani, Chairman of the Adani Group, expressed satisfaction with AEL's performance, emphasizing the company's role as a premier business incubator in India and a global leader in infrastructure development. He underscored AEL's commitment to excellence in project management, operations, corporate governance, and effective capital flow management, ensuring sustainable long-term value creation for stakeholders.
Adani Ports and Special Economic Zone Ltd (APSEZ) FY24 Results
APSEZ, another key entity within the Adani Group, reported record-breaking financial performance for FY24. The company witnessed a staggering 50% year-on-year increase in its net profit, reaching Rs 8,104 crore, fueled by a 28% growth in revenue, soaring to a record high of Rs 26,711 crore. APSEZ's EBITDA experienced a remarkable 44% jump, climbing to Rs 15,751 crore, indicating its robust financial position. Furthermore, APSEZ significantly reduced its net debt to EBITDA ratio from 3.1x in FY23 to 2.3x in FY24, further strengthening its financial resilience.
Operationally, APSEZ demonstrated its prowess by handling approximately 27% of the country’s total cargo and a remarkable 44% of container cargo. The company's domestic cargo volumes surged by 21% year-on-year, outperforming India’s cargo growth rate. Mundra Port, APSEZ’s flagship port, achieved a historic milestone by handling 180 MMT of cargo in FY24, with expectations to surpass the 200 MMT mark in FY25.
Strategically, APSEZ expanded its portfolio by acquiring Gopalpur Port and Karaikal Port, enhancing its presence and east-west parity. Additionally, the company entered into a strategic partnership with MSC to form a joint venture for Ennore Container Terminal, further solidifying its market position.
Looking ahead, both AEL and APSEZ are poised for continued growth, with strategic investments in key sectors such as green hydrogen ecosystem, airport management, data center, roads, and primary industries. These ventures are expected to unlock significant value and contribute to the companies' sustained growth trajectories.
In conclusion, the remarkable performances of AEL and APSEZ not only underscore their financial strength and operational excellence but also reaffirm their commitment to driving innovation, sustainability, and value creation for stakeholders, setting new benchmarks for the industry.