IANS | 02 May, 2024
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.