Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — Adani Portfolio — H1 FY24 Earnings Presentation
34 slides from Adani Enterprises's earnings presentation, November 2023
Slide 1: Adani Portfolio Result Snapshot – H1 FY24
Adani Portfolio Result Snapshot –H1 FY24 November 2023
Slide 2: Contents
Contents 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 02
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 & Incubator Energy & Utility Transport & Logistics Direct to consumer Mining (72.6%) (56.3%) (73.2%) (65.5%) (100%) (63.2%) AGEL AESL APSE
Slide 5: Adani Portfolio: Strong Financial Performance delivered across portfolio
Adani Portfolio: Strong Financial Performance delivered across portfolio All figures in INR cr Sector H1 FY24 H1 FY23 Growth % of Total Sept 23 TTM1 Sept 22 TTM1 Growth % of Total Utility2 25,572 15,724 62.64% 58.53% 37,691 30,866 22.11% 52.90% Transport 8,294 7,478 10.92% 18.98% 15,251 13,935 9.44%
Slide 6: Adani Portfolio: Highlights
Adani Portfolio: Highlights Below is the key credit portfolio highlights: Sep-23 Sep-23 Mar-23 Mar-23 – Adani Portfolio companies operate in utility and Particulars (INR Cr) (USD bn) (INR Cr) (USD bn) infrastructure businesses with more than ~86% of Gross Asset Block 4,48,079 53.95 4,22,839 50.92 H1
Slide 7: Adani Portfolio: Deep rating coverage & one of the highest rated portfolio
Adani Portfolio : Deep rating coverage & one of the highest rated portfolio Rating Summary Entity wise EBITDA Quality Company Global Ratings Domestic Ratings Ambuja / ACC - AAA/Stable (Crisil) 15% BBB- (S&P, Fitch) / Baa3 AA+/Stable (India Ratings), APSEZ (Moody's) AA+/Negative (ICRA) - AICTPL BBB-
Slide 8: Adani Portfolio: Business wise Performance
02 Adani Portfolio: Business wise Performance STRICTLY CONFIDENTIAL
Slide 9: Business wise Summary
Business wise Summary Energy & Utility Transport & Logistics Incubator − Airports: Pax movements up by 29% − Attained a milestone: Exceeded the 200 YoY to 42.7 Mn − Operational capacity increases by MMT mark for the first time within a six- − Roads: 92.3 Lane-KM were − Maintained system availability
Slide 10: Adani Enterprises Limited
02a Adani Enterprises Limited STRICTLY CONFIDENTIAL
Slide 11: Adani Enterprises Limited: H1FY24 Highlights
Adani Enterprises Limited: H1FY24 Highlights Business Updates − Airports: − ANIL: − Mumbai Airports became the 1st in India & 3rd in the world to receive the − Received COD certification from SECI level 4 customer experience accreditation − India’s first monocrystalline silicon ingot pilot plant com
Slide 12: Adani Enterprises Limited: Credit Updates
Adani Enterprises Limited: Credit Updates International Ratings 10 Years LTD Maturity Profile as on Sept 30, 2023 (INR Cr) Company Rating MIAL BB+ (Fitch) Cash Balances1: 8,535 Cr Run rate EBITDA2: 12,322 Cr 7,069 Domestic Ratings Listed Entities Domestic Rating Agency INR Ratings AEL (consolidated)
Slide 13: Adani Green Energy Limited
02b Adani Green Energy Limited STRICTLY CONFIDENTIAL
Slide 14: Adani Green Energy Limited: H1FY24 Highlights
Adani Green Energy Limited: H1FY24 Highlights Business Updates − Solar CUF of 25.2% up by 90 bps YoY with plant availability of 99.7%. − Operational Capacity increases by 24% to 8,316 MW YoY with addition of: (99.4% in H1 FY23) • 1,150 MW solar–wind Hybrid, • 212 MW solar power plant − Wind portfoli
Slide 15: Adani Green Energy Limited: Credit Updates
Adani Green Energy Limited: Credit Updates 10 Years LTD Maturity Profile as on Sept 30, 2023 (INR Cr) International Ratings Company Rating Cash Balances1: 7,735 Cr Run rate EBITDA2: 7,650 Cr AGEL List Co Ba3 / Negative (Moody's) AGEL RG2 BBB- (Fitch) / Ba1 (Moody's)/ BB+ (S&P) 12,793 AGEL RG1 BB+ (F
Slide 16: Adani Energy Solutions Limited
02c Adani Energy Solutions Limited STRICTLY CONFIDENTIAL
Slide 17: Adani Energy Solutions Limited: H1FY24 Highlights
Adani Energy Solutions Limited: H1FY24 Highlights Business Updates − Maintained system availability upwards of 99.7% Consumer centricity: − Added 769 ckms to operational network during the H1FY24 − Distribution loss improving consistently and stands at 5.81% in Q2FY24 and maintained supply reliabili
Slide 18: Adani Energy Solutions Limited: Credit Updates
Adani Energy Solutions Limited: Credit Updates International Ratings 10 Years LTD Maturity Profile as on Sept 30, 2023 (INR Cr) Company Rating Cash Balances1: 4,904 cr AESL USPP BBB- (Fitch) / Baa3 (Moody's) Run rate EBITDA2: 8,138 cr Adani Electricity Mumbai Ltd BBB- (S&P, Fitch) / Baa3 (Moody's) 9
Slide 19: Adani Power Limited
02d Adani Power Limited STRICTLY CONFIDENTIAL
Slide 20: Adani Power Limited: H1FY24 Highlights
Adani Power Limited: H1FY24 Highlights Business Updates Regulatory Updates – Consolidated PLF 59.2% and power sales 35.6 BU in H1 FY24 vs 48.9% and 27.3 BU in H1 FY23 respectively. – Release of past period coal shortfall claims, LPS, carrying cost and CIL T&D claims by Maharashtra DISCOM. – Revenue
Slide 21: Adani Power Limited: Credit Updates
Adani Power Limited: Credit Updates Domestic Ratings 10 Years LTD Maturity Profile as on Sept 30, 2023 (INR Cr) Listed Entities Domestic Rating INR Ratings Cash and cash equivalents1: 4,124 cr Agency Run rate EBITDA2: 18,412 cr APL CRISIL A/Stable 3,827 APL India Rating A/ Positive 3,342 2,852 APJL
Slide 22: Adani Total Gas Limited
02e Adani Total Gas Limited STRICTLY CONFIDENTIAL
Slide 23: Adani Total Gas Limited: H1FY24 Highlights
Adani Total Gas Limited: H1FY24 Highlights Business Updates − ATGL has added 23 new in H1 FY24 CNG stations taking total CNG stations to − Gas sourcing: ATGL continued its effort to have efficient gas 483 sourcing to reduce the impact of volatility in gas price as follows: − PNG connections increase
Slide 24: Adani Total Gas Limited: Credit Updates
Adani Total Gas Limited: Credit Updates Domestic Ratings ICRA : AA- / Negative Cash Balances1: 327 cr The ratings continue to factor in ATGL’s healthy financial risk profile, Run rate EBITDA2: 1088 cr characterized by adequate return and debt protection metrics because of the 126 robust cash generat
Slide 25: Adani Ports and Special Economic Zone Limited
02f Adani Ports and Special Economic Zone Limited STRICTLY CONFIDENTIAL
Slide 26: Adani Ports and Special Economic Zone Limited: H1FY24 Highlights
Adani Ports and Special Economic Zone Limited: H1FY24 Highlights Business Updates − Growth in cargo volume was led by containers (+18%), dry cargo (+10%)and − India’s largest transshipment port at Vizinjham, berthed its first liquids (21%). The automobile segment, though a small proportion of overal
Slide 27: 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 Sept 30, 2023 (INR Cr) Company Rating Cash Balances1: 8,549 cr APSEZ BBB- (S&P, Fitch) / Baa3 (Moody's) Run rate EBITDA2:15,256 cr 11,160 Adani International Container BBB- (S&P, F
Slide 28: Adani Cement
02g Adani Cement STRICTLY CONFIDENTIAL
Slide 29: Adani Cement: H1FY24 Highlights
Adani Cement : H1FY24 Highlights Business Updates − Clinker & Cement Sales volume grew by 6% YoY (from 26.9 MMT in H1 − Savings of INR 149/ ton in other expenses due to various cost saving FY23 to 28.5 MMT in H1FY24), driven by strong focus on volume initiatives expansion, efficiency improvement and
Slide 30: Adani Cement: Credit Updates
Adani Cement : Credit Updates Domestic Ratings 10 Years LTD Maturity Profile as on Sept 30, 2023 (INR Cr) CRISIL: AAA / Stable Cash Balances1: 11,721 cr The ratings factor in the strong business risk profile by Run rate EBITDA2: 9,3703 cr virtue of Ambuja and ACC Ltd (ACC; ‘CRISIL AAA/Stable/CRISIL
Slide 31: Adani Wilmar Limited
02h Adani Wilmar Limited STRICTLY CONFIDENTIAL
Slide 32: Adani Wilmar Limited: H1FY24 Highlights
Adani Wilmar Limited: H1FY24 Highlights Business Updates ‒ In Edible Oils, the branded segment grew by ~22% YoY in H1 FY24. ‒ The Company continued its dominance in the edible oil space with a market share of 19.6% in September 2023*. ‒ Launched Brown Rice under the premium Kohinoor brand & Charmina
Slide 33: 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 to general business plans and strategy of Adani group, the future outlook and growth prospects, and future developments o f
Slide 34: Thank You
Thank You