AHMEDABAD:
Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the second quarter ended September 30, 2018.
Financial Highlights (Consolidated):
The Consolidated Income from Operations for the quarter increased 7% to Rs 9,155 crores vs Rs. 8,546 crores for the corresponding period in the previous year. The EBIDTA for the quarter increased 11% to Rs 552 crores vs Rs. 496 crores in Q2 FY 18. The PAT attributable to owners for Q2 FY 19 is Rs 172 crores vs Rs. 59 crores in Q2 FY 18. Overall, the company has witnessed improved performance of ICM and MDO business.
“At Adani Enterprises, we continue our journey of creating world class assets, endorsing benefits of diversification, integration and superior business portfolio. Our focus on building global scale India-centric businesses would enable us to create value for our stakeholders” said Gautam Adani, Chairman Adani Group.
Business Highlights:
1. Coal Mine Development and Operations (“MDO”) In MDO business at Parsa Kente coal mines in Chattisgarh, the Company has supplied washed coal of 3.09 MMT to RRVUNL in Q2 FY 19 as compared to 1.71 MMT in Q2 FY 18, showing an increase of 81%.
2. Solar Manufacturing
The company has established India’s Largest Solar Cell and module manufacturing unit in Mundra SEZ. Under Phase 1, the plant has an installed capacity of 1.2 GW fully integrated cell and module manufacturing unit. Commercial Date of Operation was 24th May, 2017. Q2 Volume increased 56% to 156 MW modules Y-o-Y Vs 100 MW modules in Q2 FY 18.
3. Agro
In food business, the company has maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market with more than 20% market share. During the current quarter, the company has operationalized edible oil plant at Krishnapattanam (Andhra Pradesh) with a refining capacity of 1000 MT TPD.
In Agri Logistics business, the company has won bids from Food Corporation of India to set up silos at Darbhanga and Samastipur in Bihar with a capacity of 50,000 MT.
