Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — H1 FY24 Earnings Presentation
48 slides from Adani Enterprises's earnings presentation, October 2023
Slide 1: Adani Enterprises Ltd H1 & Q2 FY24 Earnings Presentation
Adani Enterprises Ltd H1 & Q2 FY24 Earnings Presentation
Slide 2: Results at glance
Half Year Ended AEL : Consolidated Financial Highlights (YoY) ` In Crores Results at glance Total Income EBIDTA 43% PBT 50% 5874 79508 1958 111% 4,856 4100 2,825 1303 48876 1,339 1,210 10,608 118% 10% 74,652 1,360 2,761 3,049 748 38,268 (57) H1-23 H1-24 H1-23 H1-24 H1-23 H1-24 Established Businesses
Slide 3: Incubating Business Growth
Half Year Ended AEL : Incubating Business Growth ` In Crores ANIL Ecosystem Airports Roads Total Income Total Income Total Income 3837 Cr +2x 3657 Cr +42% 3114 Cr +2x EBIDTA EBIDTA EBIDTA 983 Cr +9x 1080 Cr +4% 762 Cr +2x Emerging Core Infra Businesses contributing to growth journey 48% of Total EBI
Slide 4: Content
Content 01 02 03 Adani Group Company Business Overview Profile Highlights 04 05 06 Operational Financial ESG Performance Highlights Highlights Appendix
Slide 5: Adani Group Overview
Adani Group Overview 5
Slide 6: 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 7: 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 70% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL ATGL Adani’s Core Infra. Platfo
Slide 8: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Center of Excellence Project Management & Assurance Group AIMSL 1 Policy -Strategy - Risk Origination Site Development Construction Operation Capital Mgmt Activity • Analysis
Slide 9: Company Profile
Company Profile 9
Slide 10: A Successful Incubator
AEL : A Successful Incubator Attractive Incubation Record Green Hydrogen Ecosystem Business Model Strong incubation record Integrated manufacturing for Airports generating low-cost green hydrogen Development Strong Consumer Centricity Year 2015 > APSEZ, APL & AESL Roads Ingots, cells, modules, wind
Slide 11: AEL: Business Portfolio
AEL : Business Portfolio AEL Portfolio Energy & Transport & Retail Primary Utility Logistics businesses Industry New Industries (End to end Roads Food FMCG1 Mining Industrials Green H2 chain) Mining Data Center Airports Digital PVC Services & IRM Commercial Water Copper Mining Specialized Manufactur
Slide 12: Business Highlights
Business Highlights 12
Slide 13: ANIL Ecosystem Business Highlights
AEL : ANIL Ecosystem Business Highlights Solar Manufacturing ▪ MSEL received the Commercial Operation Date certificate from SECI ▪ Ingot & Wafer Update • India's first monocrystalline silicon Ingot pilot plant at Mundra completed • Adani produces India’s first wafer ▪ Manufacturing Ecosystem raises
Slide 14: Adani Airports Holdings Ltd (AAHL - Airports) Highlights
AEL : Adani Airports Holdings Ltd (AAHL - Airports) Highlights ▪ Mumbai Airport • Became 1st in India & 3rd in world to receive Level 4 customer experience accreditation from Airports Council International (ACI) • Received the prestigious 'Excellent Energy Efficient Unit' award from CII • PESC Phase
Slide 15: AEL - Updates on Incubating Businesses
AEL - Updates on Incubating Businesses Energy & Utility – Adani New Industries Ltd (ANIL) Ecosystem AdaniConnex Pvt Ltd (ACX - Data Center) Transport & Logistics – Adani Airports Holdings Ltd (AAHL - Airports) Adani Road Transport Ltd (ARTL - Roads) 15
Slide 16: Energy & Utility – Adani New Industries Ltd (ANIL)
AEL : Energy & Utility – Adani New Industries Ltd (ANIL) Integrated Manufacturing Plant Capacity Status Solar Cell & Module ▪ Module line operational 2.0 GW (Existing Plant) ▪ TopCon Cell line COD by Q3-24 Cell & Module 2.0 GW ▪ Module & Cell line operational (New Plant) ▪ India’s First Wafer produc
Slide 17: Energy & Utility – Adani New Industries Ltd (ANIL)
AEL : Energy & Utility – Adani New Industries Ltd (ANIL) Integrated Manufacturing Plant Capacity Certification Wind India’s largest capacity ▪ ISO 9001:2015 (Nacelle Plant) 5.2 MW Wind Turbine Generator ▪ IECRE-IEC (for global WTG supply) Working Prototype 1 using LM Wind Power blades • Final Type C
Slide 18: Energy & Utility – ACX (Data Center)
AEL : Energy & Utility – ACX (Data Center) Empowering Digital India with a Platform of Data Center Solutions with Strong Partnership Chennai 33 • Phase I 17 MW Operational & Phase II Under Construction MW Noida 50 • Overall completion ~63% MW Noida Hyderabad 1 48 • Overall completion ~65% MW Ahmedab
Slide 19: Transport & Logistics – AAHL (Airports)
AEL : Transport & Logistics – AAHL (Airports) Portfolio of 8 Airports Updates Serving ~ 23% of total passenger base Pax (Mn) ATM (‘000) 42.7 29% 15% 289.8 33.1 252.9 21.4 16.3 148.2 126.9 Jaipur Lucknow 4.8 Mn 5.2 Mn Guwahati 16.8 21.3 141.6 126.0 Q1 5.1 Mn Q2 H1-23 H1-24 H1-23 H1-24 Ahmedabad 10.1
Slide 20: Transport & Logistics – ARTL (Roads)
AEL : Transport & Logistics – ARTL (Roads) Portfolio of 14 projects Project Completion Status in 10 projects 5000+ Lane Kms KKRPL 56% 62% Operational Construction in progress NPRPL 58% 61% HAM VBPPL 55% 61% BKRPL 39% BHRPL 43% 151.700 kms UPRPL HURPL 156.800 kms AVRPL 35% 37% 155.700 kms PRSTPL PPRP
Slide 21: AEL - Operational Performance
AEL - Operational Performance 21
Slide 22: Operational Performance – Incubating Businesses
AEL : Operational Performance – Incubating Businesses % % Parameters Q2-23 Q2-24 Parameters H1-23 H1-24 Change Change ANIL Module Sales 206 630 205% Module Sales 534 1244 132% Ecosystem % % Parameters Q2-23 Q2-24 Parameters H1-23 H1-24 Change Change Pax movement (Mn) 16.3 21.4 31% Pax movement (Mn)
Slide 23: Operational Performance – Primary Industries
AEL : Operational Performance – Primary Industries Mining Services IRM Operational Dispatch Qty. (MMT) Customer/ ▪ 9 Mining service Service Activity UoM H1-23 H1-24 Owner H1-23 H1-24 Contracts contracts ▪ 4 operational coal mine PEKB RRVUNL 4.4 4.2 IRM Volume MMT 51.9 36.6 service contracts GP III C
Slide 24: Financial Highlights
Financial Highlights 24
Slide 25: Consolidated Financials Highlights – H1 FY24
Half Year ended AEL : Consolidated Financials Highlights – H1 FY24 ` In Crores Income EBIDTA 43% PBT 50% 218% Increase Decrease Total Increase Decrease Total Increase Decrease Total ✓ Growth in ANIL Ecosystem, Airports & Roads ✓ Increased on account of ✓ Increased on account of higher EBIDTA in busi
Slide 26: Consolidated Financials Highlights – Q2 FY24
Corresponding Quarter AEL : Consolidated Financials Highlights – Q2 FY24 ` In Crores Income EBIDTA 39% PBT 31% 218% Increase Decrease Total Increase Decrease Total Increase Decrease Total ✓ Growth in ANIL Ecosystem, Airports & Roads ✓ Increase on account of robust operational ✓ Increase on account o
Slide 27: Segment wise Financials – H1 FY24
Half Year ended AEL : Segment wise Financials – H1 FY24 ` In Crores Incubating Businesses Established Businesses ANIL Ecosystem Airports IRM Mining services 3657 Revenue 3837 62328 1097 1098 2573 27547 1227 H1-23 H1-24 H1-23 H1-24 H1-23 H1-24 H1-23 H1-24 ✓ Increased in line with ✓ Increased on back
Slide 28: Segment wise Financials – Q2 FY24
Corresponding Quarter AEL : Segment wise Financials – Q2 FY24 ` In Crores Incubating Businesses Established Businesses ANIL Ecosystem Airports IRM Mining services 1939 1946 30664 490 Revenue 1306 420 16% 613 12505 Q2-23 Q2-24 Q2-23 Q2-24 Q2-23 Q2-24 Q2-23 Q2-24 ✓ Increased in line with ✓ Increased o
Slide 29: Growth with Discipline
AEL : Growth with Discipline FFO generation with Operational Efficiency(1) Decreasing Net Debt to Fixed Assets(3) 5,286 0.58 0.52 0.47 0.39 0.35 0.34 2,745 1,758 1,808 1,846 1,155 756 FY19 FY20 FY21 FY22 FY23 H123 H124 FY19 FY20 FY21 FY22 FY23 H124 FFO Net Debt/Fixed Assets Operational Growth with F
Slide 30: Debt Details - Consolidated
AEL : Debt Details - Consolidated ` In Crores As at Sep-23 As at March-23 Current Debt Current Debt Segment Non-Current Non-Current Working Short Term Total Working Short Term Total Debt Debt Capital Loan Capital Loan IRM 179 685 82 946 907 1,556 - 2,464 Mining Services 641 83 150 874 688 72 150 909
Slide 31: ESG Highlights
ESG Highlights 31
Slide 32: ESG Performance Highlights
AEL : ESG Performance Highlights FY 25 Targets FY 23 Achievements Status 25% Yearly Reduction in energy intensity1 ✓ 26% Reduction in energy intensity1 25% Yearly Reduction in emission intensity1 ✓ 55% Reduction in emission intensity1 20% Yearly % increase in renewable energy 13% % Increase in renew
Slide 33: ESG – Ratings, Awards and Recognition
AEL : ESG – Ratings, Awards and Recognition ESG Ratings AEL’s Rating Scored 58/100, indicates good relative ESG performance and above average degree of transparency in Refinitiv ESG Score reporting material ESG data publicly DJSI-S&P Global Corporate Scored 46/ 100 significantly better than average
Slide 34: Thank You
Thank You 34
Slide 35: Appendix
Appendix 35
Slide 36: Transport & Logistics – AAHL (Airports) Operational Details
AEL : Transport & Logistics – AAHL (Airports) Operational Details Passengers (In Mn) ATM (In ‘000) Cargo (In Lacs MT) Airports H1-23 H1-24 H1-23 H1-24 H1-23 H1-24 Ahmedabad 4.2 5.7 35.7 42.4 0.3 0.4 Lucknow 2.4 3.2 19.2 22.5 0.0 0.1 Mangaluru 0.9 1.0 7.8 6.8 0.0 0.0 Mumbai 19.4 25.3 136.1 158.4 3.7
Slide 37: 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 38: Transport & Logistics – ARTL (Roads)
AEL : Transport & Logistics – ARTL (Roads) Project Length Financial Project Completion Concession Period (in Yrs) Project SPV / Location Model (KMs) Closure Status (Const. + O&M) 21 BCPs Operation; Maharashtra Border Check Post Network Ltd 2 COD Achieved 24 BCPs Secured 1.5 + 23 (MBCPNL) / Maharasht
Slide 39: 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 Uttar Pradesh MLD • Project Status ~ COD Achieved 2 + 15 HAM Bhagalpur Waste Water Ltd (BWWL) / 45 • Project Status ~ 53%; 2 + 15 Bih
Slide 40: Primary Industries – Mining Services
AEL : Primary Industries – Mining Services Type of Project Mine Capacity State Customer (Owner) SPV Name Parsa East Kente Basen 15.0 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 NLCI
Slide 41: Primary Industries – Mining Services
AEL : Primary Industries – Mining Services Operational Details in MMT Customer Q2-23 Q2-24 H1-23 H1-24 Mine State (Owner) P D P D P D P D PEKB Chhattisgarh RRVUNL 1.8 1.4 2.0 1.7 5.6 4.4 4.8 4.2 Gare Pelma III Chhattisgarh CSPGCL 0.9 0.7 1.0 0.9 1.8 1.6 1.4 1.7 Talabira II & III Odisha NLCIL 2.4 2.4
Slide 42: Primary Industries – Commercial Mining
AEL : Primary Industries – Commercial Mining Type of Project Mine Capacity State SPV Name Gondulpura 4.0 MMT Jharkhand Adani Enterprises Ltd Dhirauli 6.5 MMT Madhya Pradesh Stratatech Mineral Resources Pvt Ltd Bijahan 5.3 MMT Odisha Mahanadi Mines and Minerals Pvt Ltd Commercial Mining Contract Gond
Slide 43: ESG Framework
ESG Framework 43
Slide 44: ESG backed by Assurance
AEL : ESG backed by Assurance Our Key ESG Commitments • No net loss to biodiversity and 100% alignment with IBBI • Creating shared value for communities through • Becoming a net water positive company integrated and sustainable development Guiding • Become a signatory to UN Global Compact Policies p
Slide 45: 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 46: Strong Governance Framework
AEL : Strong Governance Framework Key Governance Areas Key Highlights ESG Governance Structure Board Independence ✓ More than 50% Independent Directors & Diversity ✓ 11.11% Women Directors Board of Directors ✓ Corporate Responsibility Committee in place with 100% Independent Directors Corporate to p
Slide 47: ESG Performance Highlights Q2 FY24
AEL : ESG Performance Highlights Q2 FY24 Incubating Businesses Primary Industries ❑ ANIL Ecosystem ❑ Mining Services Business ▪ ~14% electricity consumption from RE sources ▪ ~40% reduction1 in energy intensity3 ❑ Airport Business achieved ▪ ~56 % electricity consumption from RE sources ▪ ~15% reduc
Slide 48: 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