Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — H1 FY25 Earnings Presentation
57 slides from Adani Enterprises's earnings presentation, Oct 29, 2024
Slide 1: Submission of Media Release and Investor Presentation
29th October 2024 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001. Bandra (E), Mumbai – 400051. Scrip Code: 512599 Scrip Code: ADANIENT Sub: Submission of Media Release and Investor Presentation on Unaudited Financi
Slide 2: Adani Enterprises announces highest half-yearly EBITDA in H1FY25 results
Media Release Adani Enterprises Ltd announces highest half-yearly EBITDA in H1FY25 results Consolidated EBITDA increased by 47% to INR 8,654 crore Consolidated PBT increased by 137% to INR 4,644 crore Incubating Businesses EBITDA up by 85% to INR 5,233 crore Editor’s Synopsis Consolidated financial
Slide 3: Consolidated Financial Highlights
“Adani Enterprises Ltd (AEL) continues to focus on investing in logistics, energy transition and adjacent sectors that are core to the economic growth of the country. This record-breaking half-year performance has been led by Adani New Industries Ltd (ANIL) and Adani Airport Holdings Ltd (AAHL) with
Slide 4: Capital market transactions and business updates
Capital market transactions AEL has raised INR 4,200 crore (USD ~500 Mn) through QIP which was subscribed with participation from international and domestic investors AEL has raised INR 800 crore (USD ~100 Mn) through maiden public issuance of NCDs which is first public issue by any private corp
Slide 5: ESG Highlights and About Adani Enterprises
ESG Highlights Mumbai Airport is honoured with the prestigious CII 25th national award for excellence in energy management. Ahmedabad International Airport declared winner for PCWR Excellence Award Guwahati & Thiruvananthapuram International Airport declared winner for PCWR Waste Management &
Slide 6: Adani Enterprises Ltd H1 & Q2 FY25
Adani Enterprises Ltd H1 & Q2 FY25 Earnings Presentation
Slide 7: Results at glance
Half Year ended AEL : Consolidated Financial Highlights (YoY) ` In crores Results at glance Total Income 14% EBITDA 47% PBT 137% 49,263 4,644 8,654 43,111 17,287 63% 85% 138% 10,608 5,875 2,878 5,233 2,825 1,959 32,503 31,976 12% 1,210 3,050 3,421 7% 1,766 136% 749 H1-24 H1-25 H1-24 H1-25 H1-24 H1-2
Slide 8: Incubating Business Growth
Half Year ended AEL : Incubating Business Growth ` In crores ANIL Airports Roads Green Hydrogen Ecosystem 43% 50% Total Income Total Income Total Income 7,634 Cr +99% 4,453 Cr +22% 5,200 Cr +67% EBITDA EBITDA EBITDA 2,763 Cr +181% 1,426 Cr +32% 1,044 Cr +37% Emerging core infra businesses contributi
Slide 9: Capital Management Highlights
AEL : Capital Management Highlights (during last two months) Equity Total AEL raised Rs. Income 4,200 cr (~USD 500 mn) through QIP Issue oversubscribed ~4.2x within 1 day of launch Issue subscribed with participation from international and domestic investors Debt AEL raised Rs. 800 cr (~USD 100 mn)
Slide 10: Content
Content 01 02 03 Adani Group Company Business Overview Profile Highlights 04 05 06 Operational Financial ESG Performance Highlights Highlights Appendix
Slide 11: Adani Group Overview
Adani Group Overview
Slide 12: 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%) (74.89%) (100%) (50.00%) (100%) (100%) Copper,
Slide 13: Adani Portfolio: Decades long track record of industry best growth
Adani Portfolio: Decades long track record of industry best growth with national footprint Secular growth with world leading efficiency National footprint with deep coverage Growth 3x 6 Growth 4x 6 EBITDA 71% 1,2,3 EBITDA 92% 1,3,4 AEL APSEZ Growth 3x 6 Growth 1.4x AGEL Adani’s Core Infra. Platform
Slide 14: Adani Portfolio: Repeatable, robust & proven transformative model
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT OPERATIONS CONSUMERS 1 New C.E.O. Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value C
Slide 15: Company Profile
Company Profile
Slide 16: AEL: A successful incubator
AEL: A successful incubator Attractive Incubation Record Green Hydrogen Ecosystem Business Model Proven incubation success record Integrated manufacturing for B2B Model Development generating low-cost green hydrogen ANIL Ecosystem, Data Center, Roads Year 2015 > APSEZ, APL & AESL B2C Model Ingots, w
Slide 17: AEL: Portfolio of businesses with long term growth potential
AEL: Portfolio of businesses with long term growth potential AEL Business Portfolio Infrastructure & Utility Core Portfolio Emerging B2C Primary Industry Direct to Metals Energy & Utility Transport & Logistics Services consumer New Industries Food FMCG Mining Services Copper Airports (End to end Gre
Slide 18: Business Highlights
Business Highlights 13
Slide 19: Business Highlights: ANIL Ecosystem, Data Center
AEL : Business Highlights ANIL Ecosystem ❑ Received Letter of Award for Electrolyser manufacturing facility for 101.5 MW p.a. under SIGHT scheme from SECI. Cumulative capacity awarded 300 MW p.a. ❑ RLMM listing done for 5.2 MW WTG & 3.0 MW WTG using ANIL blades ❑ Final Type Certificate for 3.3 MW WT
Slide 20: Business Highlights: Airports, Roads, Mining Services
AEL : Business Highlights Airports ❑ Navi Mumbai International Airport welcomes first IAF aircraft ❑ During the quarter 6 new routes, 6 new airlines and 13 new flights added ❑ Thiruvananthapuram International Airport has been accredited to Level 2 of the Airport Customer Experience Accreditation Pro
Slide 21: Business Updates
Business Updates 16
Slide 22: Energy & Utility – Adani New Industries Ltd (ANIL)
AEL : Energy & Utility – Adani New Industries Ltd (ANIL) Integrated Manufacturing Plant Capacity Status Solar Cell & Module 2.0 GW ▪ Module & Cell line operational (TopCon) Cell & Module 2.0 GW ▪ Module & Cell line operational (MonoPerc) Ingot & Wafer 2.0 GW ▪ Operational Quarterly Module Sales Geog
Slide 23: Energy & Utility – ANIL (Wind)
AEL : Energy & Utility – Adani New Industries Ltd (ANIL) Capacity Description Integrated Manufacturing Wind ▪ ISO 9001:2015 (Nacelle Plant) certification 1.5 GW ▪ IECRE-IEC (for global WTG supply) ▪ Order Book at 254 sets ▪ Q2 FY25 15 sets supplied India’s largest ▪ Working Prototype 2 using ANIL bl
Slide 24: Energy & Utility – ANIL (Electrolysers)
AEL : Energy & Utility – Adani New Industries Ltd (ANIL) Integrated Manufacturing Electrolysers Activity Status ▪ Letter of Award received to set up manufacturing capacity of 101.5 MW p.a. Manufacturing PLI scheme under SIGHT scheme ▪ Cumulative manufacturing capacity awarded 300 MW p.a. ▪ 25 kW pro
Slide 25: Energy & Utility – ACX (Data Center)
AEL : Energy & Utility – ACX (Data Center) Empowering Digital India with a Platform of Data Status Center Solutions with Strong Partnership Chennai 33 • Phase I 17 MW Operational MW Noida 50 • Completion ~95% > 50 MW Core & Shell + 10 MW MEP MW Noida Hyderabad 48 • Completion ~98% > Phase I of 9.6 M
Slide 26: Transport & Logistics – AAHL (Airports)
AEL : Transport & Logistics – AAHL (Airports) Portfolio of 8 Airports Updates Serving ~ 23% of total passenger base Pax (Mn) ATM (‘000) 42.6 45.1 288.4 305.4 21.3 22.3 146.8 153.3 Jaipur Lucknow 21.3 22.8 141.6 152.1 5.0 Mn 8.0 Mn Guwahati 5.6 Mn H1-24 H1-25 H1-24 H1-25 Ahmedabad 16.8 Mn Cargo (L-MT
Slide 27: Transport & Logistics – AAHL (Airports) service KPIs
AEL : Transport & Logistics – AAHL (Airports) Security Check Queue Immigrations 100% 100% 98% 98% 96% 96% 94% 94% 92% 92% AMD LKO IXE BOM JAI GAU TRV AMD LKO IXE BOM JAI GAU TRV Jul Aug Sep Benchmark Jul Aug Sep Benchmark Car Parking Check In 100% 100% 98% 98% 96% 96% 94% 94% 92% 92% AMD LKO IXE BOM
Slide 28: Transport & Logistics – ARTL (Roads)
AEL : Transport & Logistics – ARTL (Roads) Portfolio of 14 projects Project Completion Status NPRPL 81% 84% Operational VBPPL 78% 81% Construction in progress HAM BKRPL 68% 76% BHRPL AVRPL 49% 52% 151.700 kms UPRPL HURPL 156.800 kms 52% 155.700 kms KSRPL 63% PRSTPL BPRPL PPRPL NPRPL 88.115 53.300 km
Slide 29: Operational Performance
Operational Performance
Slide 30: Operational Performance – Incubating Businesses
AEL : Operational Performance – Incubating Businesses % % Parameters Q2-24 Q2-25 Parameters H1-24 H1-25 change change Module Sales (MW) 630 1001 59% Module Sales (MW) 1244 2380 91% ANIL Ecosystem WTG Supply (Sets) - 15 #1 WTG Supply (Sets) - 56 #1 % % Parameters Q2-24 Q2-25 Parameters H1-24 H1-25 ch
Slide 31: Operational Performance – Established Businesses
AEL : Operational Performance – Established Businesses % % Parameters Q2-24 Q2-25 Parameters H1-24 H1-25 change change Production (MMT) 7.2 8.4 17% Production (MMT) 13.5 17.8 32% Mining Services Dispatch (MMT) 6.2 8.2 32% Dispatch (MMT) 12.6 17.5 39% % % Parameters Q2-24 Q2-25 Parameters H1-24 H1-25
Slide 32: Financial Highlights
Financial Highlights
Slide 33: Consolidated Financials Highlights – H1 FY25
AEL : Consolidated Financials Highlights – H1 FY25 Half Year ended ` In crores Income 14% EBITDA 47% 49% PBT 137% 108% Increase Decrease Total Increase Decrease Total Increase Decrease Total ✓ Growth driven by ANIL Ecosystem, Airports ✓ Increased on account of strong ✓ Increased in line with higher
Slide 34: Segment wise Financials – H1 FY25
Half Year ended AEL : Segment wise Financials – H1 FY25 ` In crores Incubating Businesses Established Businesses ANIL Ecosystem Airports IRM Mining services 4453 27547 1660 7634 3657 20898 Revenue 1098 3837 H1-24 H1-25 H1-24 H1-25 H1-24 H1-25 H1-24 H1-25 ✓ Increased on back of higher ✓ Increased in
Slide 35: Consolidated Financials Highlights – Q2 FY25
AEL : Consolidated Financials Highlights – Q2 FY25 Corresponding Quarter ` In crores Income 15% EBITDA 46% 49% PBT 174% 108% Increase Decrease Total Increase Decrease Total Increase Decrease Total ✓ Growth driven by ANIL Ecosystem, Airports ✓ Increased on account of strong ✓ Increased in line with o
Slide 36: Segment wise Financials – Q2 FY25
Corresponding Quarter AEL : Segment wise Financials – Q2 FY25 ` In crores Incubating Businesses Established Businesses ANIL Ecosystem Airports IRM Mining services 2276 12505 3115 1946 803 Revenue 9697 1939 490 Q2-24 Q2-25 Q2-24 Q2-25 Q2-24 Q2-25 Q2-24 Q2-25 ✓ Increased on back of higher ✓ Increased
Slide 37: Consolidated Key Metrices
AEL : Consolidated Key Metrices EBIDTA Figures YoY (2) Debt Service Interest Coverage 5 Year CAGR @ 42.3% Ratio Coverage Ratio 13,237 10,012 43%3.8 3.6 50% 8,654 3.0 3.1 2.8 2.9 2.4 2.5 2.5 5,875 4,726 1.7 1.8 2,968 3,259 1.3 FY20 FY21 FY22 FY23 FY24 H1-24 H1-25 FY20 FY21 FY22 FY23 FY24 H1-25 FY20 F
Slide 38: Growth with Discipline
AEL : Growth with Discipline Cash generation with Operational Efficiency(2) De-risking Asset Based Growth(1,2) FFO Growth 7,076 113,217 CAGR @ 57.9% 43% 50% 5,676 5,277 84,391 65,149 2,733 52,144 1,808 42,601 1,758 1,155 30,966 24,567 22,402 16,940 18,975 6,648 9,797 FY20 FY21 FY22 FY23 FY24 H124 H1
Slide 39: Debt Details - Consolidated
AEL : Debt Details - Consolidated ` In Crores As at March-24 As at Sep-24 Current Debt Current Debt Segment Non-Current Non-Current Working Short Total Working Short Total Debt Debt Capital Term Loan Capital Term Loan ANIL Ecosystem 3,394 616 - 4,010 3,115 617 - 3,732 Airport 19,101 102 2 19,206 22,
Slide 40: ESG Highlights
ESG Highlights
Slide 41: ESG Performance Highlights H1 FY25
AEL : ESG Performance Highlights H1 FY25 Incubating Businesses Primary Industries ANIL Ecosystem Data Center Mining Services 14% 60% 5% 12% RE in RE in energy mix energy mix Y-o-Y increase1 in Scope 1 Y-o-Y reduction1 in Scope 2 emission intensity3 emission intensity3 Airports 15% 2% 99% 15% Reducti
Slide 42: ESG – Ratings & Awards
AEL : ESG – Ratings & Awards Ratings Awards Due to controversies surrounding the group, the DJSI CSA base score of 61/100 was adjusted to 49/100 Mumbai Airport received CII 25th 49 which is significantly better than average (2023) industry average score of 20/100 National Award for Excellence in Ene
Slide 43: Thank You
Thank You
Slide 44: Appendix
Appendix
Slide 45: Transport & Logistics – AAHL (Airports) Volume Details
AEL : Transport & Logistics – AAHL (Airports) Volume Details Passengers (In Mn) ATM (In ‘000) Cargo (In Lacs MT) Airports Q2-24 Q2-25 H1-24 H1-25 Q2-24 Q2-25 H1-24 H1-25 Q2-24 Q2-25 H1-24 H1-25 Ahmedabad 2.8 3.0 5.7 6.2 20.9 23.4 41.9 47.2 0.1 0.3 0.3 0.5 Lucknow 1.5 1.5 3.0 3.0 11.4 12.5 22.4 25.3
Slide 46: Transport & Logistics – ARTL (Roads)
AEL : Transport & Logistics – ARTL (Roads) Length Financial Project Completion Concession Period (in Yrs) Project Model Project SPV / Location (KMs) Closure Status (Const. + O&M) Bilaspur Pathrapali Road Pvt Ltd (BPRPL) / 53.3 Secured Operational 2 + 15 Chhattisgarh Suryapet Khammam Road Pvt Ltd (SK
Slide 47: Transport & Logistics – ARTL (Roads) continued
AEL : Transport & Logistics – ARTL (Roads) Project Length Financial Project Completion Concession Period (in Yrs) Project SPV / Location Model (KMs) Closure Status (Const. + O&M) Maharashtra Border Check Post Network Ltd 21 BCPs Operation; 24 BCPs Secured 1.5 + 23 (MBCPNL) / Maharashtra 2 COD Achiev
Slide 48: Energy & Utility – Water
AEL : Energy & Utility – Water Concession Period Project Project / Location Capacity Project Status (In Yrs) Model (Const. + O&M) Prayagraj Water Pvt Ltd (PWPL) / 326 • Project Status ~ COD Achieved 2 + 15 Uttar Pradesh MLD HAM Bhagalpur Waste Water Ltd (BWWL) / 45 • Project Status ~ 80.7%; 2 + 15 B
Slide 49: Primary Industries – Mining Services
AEL : Primary Industries – Mining Services Mine Service Mine Capacity State Customer (Owner) SPV Name Contracts PEKB 18.0 MMT Chhattisgarh RRVUNL Parsa Kente Collieries Ltd Gare Pelma III 5.0 MMT Chhattisgarh CSPGCL Gare Pelma III Collieries Pvt. Ltd Talabira II & III 20.0 MMT Odisha NLCIL Talabira
Slide 50: Primary Industries – Mining Services Volume Details
AEL : Primary Industries – Mining Services Volume Details in MMT Customer Q2-24 Q2-25 H1-24 H2-25 Mine State (Owner) P D P D P D P D PEKB Chhattisgarh RRVUNL 2.0 1.7 3.0 2.4 4.8 4.2 6.5 5.1 Gare Pelma III Chhattisgarh CSPGCL 1.0 0.9 0.8 0.9 1.4 1.7 1.2 1.9 Talabira II & III Odisha NLCIL 2.5 2.5 3.1
Slide 51: Primary Industries – Commercial Mining
AEL : Primary Industries – Commercial Mining Mine Mine Capacity State SPV Name Contracts Gondulpura 4.0 MMT Jharkhand Adani Enterprises Ltd Bijahan 5.3 MMT Odisha Mahanadi Mines and Minerals Pvt Ltd Commercial Mining Madheri Contracts TBD Maharashtra MH Natural Resources Pvt Ltd (Northwest) Purunga
Slide 52: ESG Framework
ESG Framework 47
Slide 53: ESG backed by Assurance
AEL : ESG backed by Assurance Our Key ESG Commitments • Aim to achieve No-Net Loss to biodiversity • Airport and data center businesses to become and align with IBBI/ TNFD principles operational net zero by 2029 and 2030 respectively Guiding • Becoming a net water positive company • Creating shared
Slide 54: Adopted UN Sustainable Development Goals
AEL : Adopted UN Sustainable Development Goals Our Key Social Initiatives mapped to UNSDG United Nations Women’s Multiple • Own schools, digitalization and up gradation of Sustainable Development Goals 2030 Govt. school to provide cost free education to the Education Locations 1. No Poverty needy. 2
Slide 55: Strong Governance Framework
AEL : Strong Governance Framework Key Governance Areas Key Highlights ESG Governance Structure Board Independence ✓ 50% Independent Directors & Diversity ✓ 12.5% Women Directors Board of Directors ✓ Corporate Responsibility Committee in place with 100% Independent Directors Corporate to provide assu
Slide 56: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Enterprises Limited (“AEL”), the future outlook and growth prospects, and futu
Slide 57: Thank You
Thank You