Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — FY2025 Earnings Presentation
53 slides from Adani Enterprises's earnings presentation, May 2, 2025
Slide 1: Exchange submission letter for results and investor presentation
1st May, 2025 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 Audited Financial Res
Slide 2: Adani Enterprises Ltd announces FY25 results
Media Release Adani Enterprises Ltd announces FY25 results Consolidated EBITDA increased by 26% to Rs. 16,722 cr Consolidated PBT increased by 16% to Rs. 6,533 cr Incubating Businesses EBITDA up by 68% to Rs. 10,025 cr Synopsis Consolidated financial highlights FY25 (YoY) • Revenue increased by 2% t
Slide 3: Consolidated and Incubating Businesses Financial Highlights
excellence, innovation and sustainability. As we scale up in energy transition, airports, data centers and mining services, we are creating new market leaders that will drive India's growth story for decades to come. Each success across our incubation spectrum accelerates our mission to create long-
Slide 4: Business Updates
Business Updates Adani New Industries (ANIL - Green Hydrogen Ecosystem) Solar manufacturing • Module sales increased by 59% y-o-y basis to 4263 MW with higher EBITDA margins on account of improved realization and operational efficiency • Construction started for additional 6 GW cell and module line
Slide 5: About Adani Enterprises Ltd
About Adani Enterprises Ltd Adani Enterprises Limited (AEL) is the flagship Company of Adani Group, one of India’s largest business organisations. Over the years, AEL has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed e
Slide 6: Adani Enterprises Ltd Q4 FY25
Adani Enterprises Ltd Earnings Presentation Q4 FY25
Slide 7: Results at glance
Year ended AEL : Consolidated Financial Highlights (YoY) Rs in crores Results at glance Total Income 2% EBITDA 26% PBT 16% 98,282 1,00,365 6,533# 16,722 5,640 24,398 34,546 13,237 42% 68% 87% 10,025 2,668 4,996 5,964 73,884 65,819 7,273 2,972 6,697 1,537 FY-24 FY-25 FY-24 FY-25 FY-24 FY-25 #Excludin
Slide 8: AEL: Incubating Business Growth
Year ended AEL : Incubating Business Growth Rs in crores ANIL AAHL ARTL Green Hydrogen Ecosystem Airports 43% Roads 50% Total Income Total Income Total Income 14,236 cr +63% 10,224 cr +27% 10,086 cr +33% EBITDA EBITDA EBITDA 4,776 cr +108% 3,480 cr +43% 1,769 cr +44% Emerging core infra businesses c
Slide 9: Content
Content 01 02 03 Adani Group Company Business Overview Profile Highlights 04 05 06 Operational Financial ESG Performance Highlights Highlights Appendix
Slide 10: Adani Group Overview
Adani Group Overview
Slide 11: 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%) (73.97%) (100%) (50.00%) (100%) (100%) Copper,
Slide 12: 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 3x 6 EBITDA 72% 1,2,3 EBITDA 92% 1,3,4 AEL APSEZ Growth 4x 6 Growth 3x 6 AGEL Adani’s Core Infra. Platform
Slide 13: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited (AIIL) | ITD Cementation Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Const
Slide 14: Company Profile
Company Profile
Slide 15: 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 16: 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 FMCG1 Mining Services Copper Airports (End to end Gr
Slide 17: Business Highlights
Business Highlights 12
Slide 18: AEL: Business Highlights
AEL : Business Highlights ANIL Green Hydrogen Ecosystem ❑ Construction started for expansion of cell and module line for an additional capacity of 6 GW ❑ Financial Closure for Rs. 5500 crore achieved for above capacity extension ❑ ANIL WTG business capacity expanded to 2.25 GW ACX Data Center ❑ Noid
Slide 19: Business Updates
Business Updates 14
Slide 20: Energy & Utility – Adani New Industries Ltd (ANIL): Solar
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 ▪ Financial Closure achieved 6.0 GW (TopCon) ▪ Under Construction Cell & Module 2.0 GW ▪ Module & Cell line opera
Slide 21: Energy & Utility – Adani New Industries Ltd (ANIL): Wind
AEL : Energy & Utility – Adani New Industries Ltd (ANIL) Capacity Description Integrated Manufacturing ▪ ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO Wind 2.25 GW 50001:2018, ISO 55001:2014 certification ▪ IECRE-IEC (for global WTG supply) Dispatch of 200th blade set ▪ 60 sets supplied during
Slide 22: 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 MW C&S + 10 MW MEP - Operational 50 Noida • Execution started > 40 MW MEP MW Hyderabad • Phase I of 9.6 MW
Slide 23: Transport & Logistics – AAHL (Airports)
AEL : Transport & Logistics – AAHL (Airports) Portfolio of 8 Airports Updates Serving ~ 23% of total passenger base ATM (‘000) Pax (Mn) 88.6 94.4 623.8 593.8 24.7 157.8 23.2 153.0 22.7 24.6 152.3 160.5 Jaipur 21.3 22.3 146.8 153.3 Lucknow 5.0 Mn 8.0 Mn Guwahati 21.3 22.8 141.6 152.1 5.6 Mn FY24 FY25
Slide 24: 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 Jan Feb Mar Benchmark Jan Feb Mar Benchmark Car Parking Check In 100% 100% 98% 98% 96% 96% 94% 94% 92% 92% AMD LKO IXE BOM
Slide 25: Transport & Logistics – ARTL (Roads)
AEL : Transport & Logistics – ARTL (Roads) Portfolio of 14 projects Project Completion Status NPRPL 86% Operational [6] 94% Construction in progress [8] VBPPL 87% 92% HAM BHRPL 82% BKRPL 151.700 kms UPRPL 89% HURPL 156.800 kms 155.700 kms AVRPL 58% PRSTPL BPRPL PPRPL 65% NPRPL 88.115 53.300 kms 67.7
Slide 26: Operational Performance
Operational Performance
Slide 27: Operational Performance – Incubating Businesses
AEL : Operational Performance – Incubating Businesses % % Parameters Q4-24 Q4-25 Parameters FY24 FY25 change change Module Sales (MW) 797 990 24% Module Sales (MW) 2679 4263 59% ANIL Ecosystem WTG Supply (Sets) 47 60 28% WTG Supply (Sets) 54 164 2x % % Parameters Q4-24 Q4-25 Parameters FY24 FY25 cha
Slide 28: Operational Performance – Established Businesses
AEL : Operational Performance – Established Businesses % % Parameters Q4-24 Q4-25 Parameters FY24 FY25 change change Production (MMT) 11.4 16.1 41% Production (MMT) 32.5 47.0 45% Mining Services Dispatch (MMT) 10.7 14.0 30% Dispatch (MMT) 30.9 43.3 40% % % Parameters Q4-24 Q4-25 Parameters FY24 FY25
Slide 29: Financial Highlights
Financial Highlights
Slide 30: AEL: Consolidated Financials Highlights (FY)
Year ended AEL : Consolidated Financials Highlights Rs in crores Income 2% EBITDA 26% 49% PBT 16% 108% 10147 100365 4062 16722 2328 6533 98282 5640 -8064 13237 -577 -1435 FY24 Established Incubating FY25 FY24 Established Incubating FY25 FY24 Established Incubating FY25 Increase Decrease Total Increa
Slide 31: AEL: Segment wise Financials (FY)
Year ended AEL : Segment wise Financials Rs in crores Incubating Businesses Established Businesses ANIL Ecosystem Airports IRM Mining services 14236 10224 3787 8062 62359 Revenue 8741 2361 40989 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 ✓ Increased on back of higher ✓ Increased in line with higher ✓ I
Slide 32: AEL: Consolidated Financials Highlights (Q4)
AEL : Consolidated Financials Highlights Corresponding Quarter Rs in crores Income EBITDA 19% 49% PBT 108% 29630 2046 27602 727 4346 -4074 3646 -27 1322 186 1313 -195 Q4-24 Established Incubating Q4-25 Q4-24 Established Incubating Q4-25 Q4-24 Established Incubating Q4-25 Increase Decrease Total Incr
Slide 33: AEL: Segment wise Financials (Q4)
Corresponding Quarter AEL : Segment wise Financials Rs in crores Incubating Businesses Established Businesses ANIL Ecosystem Airports IRM Mining services 3661 2831 18675 1272 2775 2195 Revenue 10528 750 Q4-24 Q4-25 Q4-24 Q4-25 Q4-24 Q4-25 Q4-24 Q4-25 ✓ Increased on back of higher ✓ Increased in line
Slide 34: AEL: Debt Movement FY25 - Consolidated
AEL : Debt Movement FY25 - Consolidated Interest coverage ratio Increase in Increase in external debt EBITDA 3.6 3.4 external debt 3.0 2.8 3.1 2.4 Rs. 18,234 cr accounted for yet to unlock ➢ Construction of Navi Mumbai Airport Navi Mumbai 34% in ➢ PPRA Payment of Three Airports FY20 FY21 FY22 FY23 F
Slide 35: AEL: Consolidated Debt Details
AEL : Consolidated Debt Details Rs in crores As at March-24 As at Mar-25 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 2,997 546 - 3,543 Airport 19,101 102 2 19,206 27,7
Slide 36: ESG Highlights
ESG Highlights
Slide 37: AEL: ESG – Ratings & Recognitions
AEL : ESG – Ratings & Recognitions Ratings Key Recognitions Ranked among the top 5 companies in its sector DJSI CSA globally and placed in the 97th percentile. ANIL WTG Business Won 60 Achieved Top Score in Social dimension in the (2024) 100th percentile “ICC Green Urja Award” in the 5th edition of
Slide 38: AEL: ESG Performance Highlights FY25
AEL : ESG Performance Highlights FY25 Incubating Businesses Primary Industries ANIL Ecosystem Mining Services 15% 34% RE in Reduction1 in 10% 35% energy mix Absolute Emission Scope 1 Increase1 in Scope 1+2 Reduction1 in emission intensity3 Water consumption intensity3 Data Center 80% 56% Reduction1
Slide 39: Thank You
Thank You
Slide 40: Appendix
Appendix
Slide 41: Energy & Utility – Water
AEL : Energy & Utility – Water Concession Project Project / Location Capacity Project Status Period (In Yrs) Model (Const. + O&M) Prayagraj Water Pvt Ltd (PWPL) / Uttar 326 Pradesh MLD • Project Status > COD Achieved 2 + 15 HAM 45 Bhagalpur Waste Water Ltd (BWWL) / Bihar MLD • Project Status > ~88%
Slide 42: Transport & Logistics – AAHL (Airports) Volume Details
AEL : Transport & Logistics – AAHL (Airports) Volume Details Passengers (In Mn) ATM (In ‘000) Cargo (In Lacs MT) Airports Q4-24 Q4-25 FY24 FY25 Q4-24 Q4-25 FY24 FY25 Q4-24 Q4-25 FY24 FY25 Ahmedabad 3.1 3.7 11.7 13.4 23.2 27.4 87.0 101.1 0.3 0.3 1.1 1.0 Lucknow 1.6 1.7 6.2 6.4 11.3 11.7 45.5 49.7 0.1
Slide 43: Transport & Logistics – ARTL (Roads)
AEL : Transport & Logistics – ARTL (Roads) Concession Period Length Financial Project Completion Project Model Project SPV / Location (in Yrs) (KMs) Closure Status (Const. + O&M) Bilaspur Pathrapali Road Pvt Ltd (BPRPL) / Chhattisgarh 53.3 Secured Operational 2 + 15 Suryapet Khammam Road Pvt Ltd (SK
Slide 44: Transport & Logistics – ARTL (Roads)
AEL : Transport & Logistics – ARTL (Roads) Concession Period Length Financial Project Completion Project Model Project SPV / Location (in Yrs) (KMs) Closure Status (Const. + O&M) Maharashtra Border Check Post Network Ltd (MBCPNL) / 21 BCPs Operation; 24 BCPs Secured 1.5 + 23 Maharashtra 2 COD Achiev
Slide 45: Primary Industries – Mining Services
AEL : Primary Industries – Mining Services Volume Details in MMT Customer Q4-24 Q4-25 FY24 FY25 Mine State (Owner) P D P D P D P D PEKB Chhattisgarh RRVUNL 1.9 1.4 5.5 4.5 6.7 5.6 16.0 12.5 Gare Pelma III Chhattisgarh CSPGCL 1.6 1.1 1.8 1.4 4.0 3.8 4.0 4.4 Talabira II & III Odisha NLCIL 4.4 4.4 5.7
Slide 46: Primary Industries – Mining Services
AEL : Primary Industries – Mining Services Peak Customer SPV Mine Service Contracts Name of Mine & State Capacity (Owner) Name PEKB, Chhattisgarh 18.0 MMT RRVUNL Parsa Kente Collieries Ltd Gare Pelma III, Chhattisgarh 5.0 MMT CSPGCL Gare Pelma III Collieries Pvt. Ltd Talabira II & III, Odisha 23.0 M
Slide 47: Primary Industries – Commercial Mining
AEL : Primary Industries – Commercial Mining Mine Peak Name of Mine & State SPV Name Contracts Capacity Gondulpura, Jharkhand 4.0 MMT Adani Enterprises Ltd Bijahan, Odisha 5.3 MMT Mahanadi Mines and Minerals Pvt Ltd Madheri (Northwest), Maharashtra TBD MH Natural Resources Pvt Ltd Domestic Commercia
Slide 48: ESG Framework
ESG Framework 43
Slide 49: 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 50: 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 51: 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 52: 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 53: Thank You
Thank You