AHMEDABAD:
Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the fourth quarter ended March 31, 2019.
Financial Highlights (Consolidated):
The Consolidated Income from Operations for the quarter increased 36% to Rs 13,237 crores vs Rs. 9,767 crores for the corresponding period in the previous year. The EBIDTA for the quarter decreased 5% to Rs 943 crores vs Rs. 994 crores in Q4 FY 18. The PAT attributable to owners for Q4 FY 19 is Rs 283 crores vs Rs. 188 crores in Q4 FY 18. Gautam Adani, Chairman, Adani Group said, “Adani Enterprises continues to focus on incubating businesses of national importance, building second generation infrastructure and utilities. With stable Government and emphasizing policy initiatives paves way for growth opportunities across sectors. Our endeavor is to establish businesses of the future, creating better value for the stakeholders in long term.”
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 12.13 MMT to RRVUNL in FY 19 as compared to 7.04 MMT in FY 18, showing an increase of 72%.
The Company has signed Coal Mining Agreement with Andhra Pradesh Mineral Development Corporation for Suliyari Coal Block on 8th March, 2019.
2. Solar Manufacturing
The company has established India’s Largest Solar Cell and module manufacturing unit in Mundra SEZ. The plant has an installed capacity of 1.2 GW fully integrated cell and module manufacturing unit and got operational in FY 18. Q4 FY 19 volumes increased by 29% to 260 MW modules vs 202 MW modules in Q4 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.
