Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — Adani Portfolio — FY2024 Earnings Presentation
43 slides from Adani Enterprises's earnings presentation, May 2024
Slide 1: Adani Portfolio | Result Snapshot – FY24
Adani Portfolio | Result Snapshot – FY24 May 2024
Slide 2: Adani Portfolio Overview and Business Wise Performance
01 Adani Portfolio Overview 02 Adani Portfolio: Business Wise Performance 02a Adani Enterprises Limited 02b Adani Green Energy Limited 02c Adani Energy Solutions Limited 02d Adani Power Limited 02e Adani Total Gas Limited 02f Adani Ports and Special Economic Zone Limited 02g Adani Cement 02h Adani W
Slide 3: Adani Portfolio Overview
01 Adani Portfolio Overview STRICTLY CONFIDENTIAL
Slide 4: Adani Portfolio: A World class infrastructure & utility portfolio
Adani Portfolio: A World class infrastructure & utility portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (72.61%) (100%) (50.00%) (100%) (100%) ANIL Ada
Slide 5: Adani Portfolio: Resilience, Strength and Stability
Adani Portfolio: Resilience, Strength and Stability All figures in INR cr Sector FY24 FY231 Growth % of Total Utility2 44,446 27,842 59.64% 53.60% Transport 17,202 14,434 19.18% 20.75% AEL - Infrastructure Businesses 7,689 5,411 42.09% 9.27% A. Sub-total (Infrastructure) 69,337 47,687 45.40% 83.62%
Slide 6: Adani Portfolio: Core Infra Platform is powering free cashflow
Adani Portfolio: Core Infra Platform is powering free cashflow 58 % 84 % 84 of Total FFO % of Total Revenue of Total EBITDA 1. Infrastructure includes Adani ports & special economic zone limited, Adani Power Limited , Adani Green Energy Limited , Adani Total Gas Limited , Adani Energy Solutions Limi
Slide 7: Adani Portfolio: FY24 Highlights
Adani Portfolio: FY24 Highlights Growth with Responsibility Net Debt/ EBITDA FY24 FY231 EBITDA (INR Cr)2 3.81x 3.72x 3.66x 3.81x 82,917 57,205 3.27x EBITDA (USD bn) 9.94 6.86 CAT (FFO) (INR Cr) 2.19x 56,828 37,511 CAT (FFO) (USD bn) 6.81 4.50 FY19 FY20 FY21 FY22 FY23 FY24 • Adani Portfolio companies
Slide 8: Adani Portfolio: Deep rating coverage
Adani Portfolio: Deep rating coverage 6%5% 8% Global Domestic IG AAA - AA+ Rating Track 38% April April 49% Record BB+ AA – A+ 5 38% 2019 2024 A – A- 40% BB- BBB+ - Below 16% years 54% rated above “A+” 89% rated above “A+” RR EBITDA INR 25,389 cr INR 81,417 cr Major Movements April 2019 April 2024 A
Slide 9: Adani Portfolio: Business wise Performance
02 Adani Portfolio: Business wise Performance STRICTLY CONFIDENTIAL
Slide 10: Business wise Summary
Business wise Summary Incubator Energy & Utility Transport & Logistics • Commissioned the first unit of its greenfield copper refinery project. • Operational capacity increased by 35% to • 91 new CNG stations added in FY24: total • In FY24, APSEZ handled ~27% of the • Data Centre : 17 MW at Chennai
Slide 11: 02a Adani Enterprises Limited
02aAdani Enterprises Limited STRICTLY CONFIDENTIAL
Slide 12: Adani Enterprises Limited: FY24 Highlights
Adani Enterprises Limited: FY24 Highlights FY24 FY231 Growth with Responsibility Net Debt/ EBITDA EBITDA (INR Cr) 13,681 10,562 4.53x EBITDA (USD bn) 1.64 1.27 CAT (FFO) (INR Cr) 2.80x 2.80x 7,917 6,410 2.09x 2.15x 1.84x CAT (FFO) (USD bn) 0.95 0.77 FY19 FY20 FY21 FY22 FY23 FY24 • 29 New Routes, 16
Slide 13: Adani Enterprises Limited: FY24 Highlights – Business Updates
Adani Enterprises Limited: FY24 Highlights Business Updates Airports: ANIL- Solar: • 29 New Routes, 16 New Airlines & 23 New Flights added across all 7 airports • The TopCon line of 2 GW became operational in March’24. during FY24. • ANIL Solar Manufacturing division has successfully commissioned 2
Slide 14: Adani Enterprises Limited: Credit Updates
Adani Enterprises Limited: Credit Updates International Ratings 10 Years LTD Maturity Profile as on March 31, 2024 (INR Cr) Company Rating MIAL BB+ (Fitch) Cash Balances1:8,630 cr RR EBITDA2:15,402 cr 7,422 Domestic Ratings Listed Entities Domestic Rating Agency INR Ratings 5,006 AEL (consolidated)
Slide 15: 02b Adani Green Energy Limited
02bAdani Green Energy Limited STRICTLY CONFIDENTIAL
Slide 16: Adani Green Energy Limited: FY24 Highlights
Adani Green Energy Limited: FY24 Highlights FY24 FY231 Growth with Responsibility Net Debt/ EBITDA EBITDA (INR Cr) 8,847 6,390 10.32x EBITDA (USD bn) 1.06 0.77 6.66x 6.42x 6.59x 5.56x 5.26x CAT (FFO) (INR Cr) 4,199 3,070 CAT (FFO) (USD bn) 0.50 0.37 FY19 FY20 FY21 FY22 FY23 FY24 • Operational capaci
Slide 17: Adani Green Energy Limited: FY24 Highlights – Business Updates
Adani Green Energy Limited: FY24 Highlights Business Updates • Operational Capacity increases by 35% to 10,934 MW YoY with addition of: • Solar CUF of 24.5% remains constant YoY with plant availability of 99.7%. o 2418 MW solar power plant • Wind portfolio CUF at 29.4% up by 420 bps YoY backed by pl
Slide 18: Adani Green Energy Limited: Credit Updates
Adani Green Energy Limited: Credit Updates International Ratings 10 Years LTD Maturity Profile as on March 31, 2024 (INR Cr) Company Rating AGEL List Co Ba3 (Moody's) Cash Balances1 : 6,119cr AGEL RG2 BBB- (Fitch) / Ba1 (Moody's)/ BB+ (S&P) RR EBITDA2: 10,462cr AGEL RG1 BBB- (Fitch)/ Ba1 (Moody’s) D
Slide 19: 02c Adani Energy Solutions Limited
02cAdani Energy Solutions Limited STRICTLY CONFIDENTIAL
Slide 20: Adani Energy Solutions Limited: FY24 Highlights
Adani Energy Solutions Limited: FY24 Highlights Growth with Responsibility Net Debt/ EBITDA FY24 FY23 EBITDA (INR Cr) 6,323 6,101 6.11x EBITDA (USD bn) 0.76 0.73 4.30x 4.24x 4.45x 4.55x 4.60x CAT (FFO) (INR Cr) 2,801 3,644 CAT (FFO) (USD bn) 0.34 0.44 FY19 FY20 FY21 FY22 FY23 FY24 • Commissioned lar
Slide 21: Adani Energy Solutions Limited: FY24 Highlights – Business Updates
Adani Energy Solutions Limited: FY24 Highlights Business Updates Consumer centricity: • Maintained robust system availability of 99.6%. • Distribution loss remains low at 5.29% for FY24 and maintained supply • Added 1,244 ckm to operational network during the year, with total network at 20,509 relia
Slide 22: Adani Energy Solutions Limited: Credit Updates
Adani Energy Solutions Limited: Credit Updates International Ratings 10 Years LTD Maturity Profile as on March 31, 2024 (INR Cr) Company Rating Cash Balances1 : 4,603cr AESL USPP BBB- (Fitch) / Baa3 (Moody's) RR EBITDA2: 8,115cr Adani Electricity Mumbai Ltd BBB- (S&P, Fitch) / Baa3 (Moody's) 9,414 A
Slide 23: 02d Adani Power Limited
02dAdani Power Limited STRICTLY CONFIDENTIAL
Slide 24: Adani Power Limited: FY24 Highlights
Adani Power Limited: FY24 Highlights FY24 FY23 Growth with Responsibility Net Debt/ EBITDA EBITDA1 (INR Cr) 28,111 14,427 5.52x EBITDA (USD bn) 3.37 1.73 4.54x 3.91x CAT (FFO) (INR Cr) 24,797 11,609 2.79x 2.27x CAT (FFO) (USD bn) 2.97 1.39 0.94x FY19 FY20 FY21 FY22 FY23 FY24 • Consolidated standalon
Slide 25: Adani Power Limited: FY24 Highlights – Business Updates
Adani Power Limited: FY24 Highlights Business Updates Regulatory Updates • Consolidated PLF 64.7% in FY24 vs 47.9% in FY23. • Raigarh plant (600 MW) has been recognized as ‘Best 5S Organization in India’ from the • Received true-up order from CERC on 4th Jan 2024 for Udupi power project. QCFI jointl
Slide 26: Adani Power Limited: Credit Updates
Adani Power Limited: Credit Updates Domestic Ratings 10 Years LTD Maturity Profile as on March 31, 2024 (INR Cr) Listed Entities Domestic Rating INR Ratings Cash Balances1 : Rs. 7,912 cr Agency RR EBITDA2: Rs. 19,594 cr APL CRISIL AA-/Stable APL India Rating AA-/Stable APJL India Rating BBB/Stable 2
Slide 27: 02e Adani Total Gas Limited
02eAdani Total Gas Limited STRICTLY CONFIDENTIAL
Slide 28: Adani Total Gas Limited: FY24 Highlights
Adani Total Gas Limited: FY24 Highlights Growth with Responsibility Net Debt/ EBITDA FY24 FY23 EBITDA (INR Cr) 1,166 924 1.08x EBITDA (USD bn) 0.14 0.11 0.87x 0.74x CAT (FFO) (INR Cr) 845 724 0.43x 0.49x CAT (FFO) (USD bn) 0.10 0.09 0.17x FY19 FY20 FY21 FY22 FY23 FY24 • 606 EV charging points have b
Slide 29: Adani Total Gas Limited: FY24 Highlights – Business Updates
Adani Total Gas Limited: FY24 Highlights Business Updates • ATGL has added 91 new CNG stations in FY24 taking total CNG stations to 547 Gas sourcing: • PNG connections increased to 8.20 Lakh households. PNG Commercial & Industrial • ATGL procured HPHT volumes (Domestic Gas) of~0.35 MMSCMD for a conn
Slide 30: Adani Total Gas Limited: Credit Updates
Adani Total Gas Limited: Credit Updates Domestic Ratings 10 Years LTD Maturity Profile as on March 31, 2024 (INR Crs) ICRA : AA- / Stable The revision in the outlook on the long-term rating to Stable from Negative factors Cash Balances1: 456 cr in the completion of most of the regulatory investigati
Slide 31: 02f Adani Ports and Special Economic Zone Limited
02fAdani Ports and Special Economic Zone Limited STRICTLY CONFIDENTIAL
Slide 32: Adani Ports and Special Economic Zone Limited: FY24 Highlights
Adani Ports and Special Economic Zone Limited: FY24 Highlights FY24 FY231 Growth with Responsibility Net Debt/ EBITDA EBITDA (INR Cr) 17,202 14,434 2.92x 2.79x EBITDA (USD bn) 2.50x 2.53x 2.06 1.73 2.41x 2.13x CAT (FFO) (INR Cr) 13,151 10,733 CAT (FFO) (USD bn) 1.58 1.29 FY19 FY20 FY21 FY22 FY23 FY2
Slide 33: Adani Ports and SEZ: FY24 Highlights – Business Updates
Adani Ports and Special Economic Zone Limited: FY24 Highlights Business Updates • In FY24, APSEZ handled ~27% of the country’s total cargo and ~44% of container − Established a joint venture (JV) with MSC for Ennore Container Terminal cargo. for divesting 49% stake for an equity consideration of INR
Slide 34: Adani Ports and Special Economic Zone Limited: Credit Updates
Adani Ports and Special Economic Zone Limited: Credit Updates International Ratings 10 Years LTD Maturity Profile as on March 31, 2024 (INR Cr) Company Rating APSEZ BBB- (S&P, Fitch) / Baa3 (Moody's) Cash Balances1 : 9,817cr RR EBITDA2: 17,678 cr 11,075 Adani International Container BBB- (S&P, Fitch
Slide 35: 02g Adani Cement
02gAdani Cement STRICTLY CONFIDENTIAL
Slide 36: Adani Cement: FY24 Highlights
Adani Cement: FY24 Highlights Growth with Responsibility Net Debt/ EBITDA FY24 FY23 EBITDA (INR Cr) 7,589 4,368 EBITDA (USD bn) 0.91 0.52 4.81x CAT (FFO) (INR Cr) 3,117 1,322 CAT (FFO) (USD bn) 1.66x 0.37 0.16 FY23 FY24 • Promoter group fully subscribed to warrants by infusing Rs 20,000 Cr in compan
Slide 37: Adani Cement: FY24 Highlights – Business Updates
Adani Cement: FY24 Highlights Business Updates • Clinker & Cement Sales volume grew by 8.1% YoY (from 54.7 MMT in FY23 to • Efficiency initiatives lead to EBITDA improvement of INR 484/ ton (90% YoY) 59.2 MMT in FY24, driven by strong focus on volume expansion, efficiency in FY24 improvement and pen
Slide 38: Adani Cement: Credit Updates
Adani Cement: Credit Updates Domestic Ratings 10 Years LTD Maturity Profile as on March 31, 2024 (INR Cr) CRISIL: AAA / Stable Cash Balances1 : 15,999 cr The ratings factor in the strong business risk profile by virtue of Ambuja and RR EBITDA2: 9,000 cr ACC Ltd (ACC; ‘CRISIL AAA/Stable/CRISIL A1+’)
Slide 39: 02h Adani Wilmar Limited
02hAdani Wilmar Limited STRICTLY CONFIDENTIAL
Slide 40: Adani Wilmar Limited: FY24 Highlights
Adani Wilmar Limited: FY24 Highlights Business Updates • In Edible Oils, the branded segment grew by 15% YoY in FY24. • Revenue from HoReCa channel crossed INR 400 Crores in FY24, a feat achieved within 1.5 years of setting up a dedicated team and distribution. • Overall sales volumes surpassed 6 MM
Slide 41: Disclaimer
Disclaimer Certain statements made in this presentation may n o t be based on historical information or facts and may be “forward-looking statements,” including those relating t o general business plans and strategy o f Adani group, the future outlook and growth prospects, and future developments o
Slide 42: Thank You
Thank You V16 – Main common portfolio EBIDTA Slide change
Slide 43: Adani Portfolio: Deep rating coverage
Adani Portfolio: Deep rating coverage Rating Summary Entity wise RR EBITDA Quality1 Company Global Ratings Domestic Ratings ACL - AAA/Stable (Crisil) ACC - AAA/Stable (Crisil) SIL - AA/Stable (India Ratings) 42% AAA/ Stable (CARE) APSEZ BBB-(S&P, Fitch) / Baa3 (Moody's) AA+/Stable (India Ratings), 4