Adani Enterprises share price gains 5% on strong September quarter results

The management said record-breaking performance has been led by ANIL and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilization.

Adani Enterprises share price: Shares of Adani Enterprises (AEL) moved higher by 5 per cent to Rs 2,981.55 on the National Stock Exchange (NSE) in Wednesday’s intra-day trade amid heavy volumes after reporting more than sevenfold increase in its consolidated net profit (attributable to the company’s owners) for the July-September quarter of 2024-25 (Q2FY25), driven by improved revenue and reduced finance costs. 

 

The Adani Group’s flagship entity, AEL, has posted a net profit of Rs 1,742 crore in Q2FY25, up from Rs 228 crore in the same period last year. Revenue increased 15.7 per cent year-on-year (YoY) to Rs 22,608 crore, driven by Adani New Industries (ANIL) Ecosystem, airports and road business.

 

The Adani Enterprises management said this record-breaking performance has been led by ANIL and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilisation.

 

The company’s focus on execution of greenfield projects in ANIL across three giga scale integrated manufacturing plants and the accelerated development of Navi Mumbai International Airport are driving these robust results. Further, AEL is poised to repeat this turbo growth across data centres, roads, metals & materials and specialised manufacturing, said Gautam Adani, Chairman of the Adani Group.

 

On solar manufacturing, AEL said module sales crossed 2 GW during the first six months; export increased by 64 per cent and domestic sales increased by 139 per cent on Y-o-Y basis. EBITDA margins continued to improve on account of improved realisation and operational efficiency through integrated production of cell & module line, the company said.

 

AEL has raised Rs 4,200 crore ($~500 million) through qualified institutional placement (QIP) which was subscribed with participation from international and domestic investors. A total of 14.18 million equity shares were allocated at an issue price of Rs 2,962 per equity share through the QIP. The proceeds from the QIP will be utilised for funding capital expenditure, debt repayment and general corporate purposes.

 

AEL's current incubation portfolio includes airports and roads in the transport and logistics sector, new energy ecosystem (including solar and wind manufacturing) and data centres in the energy and utility sector. AEL's other businesses including copper, PVC, defence and specialised manufacturing, focus on import substitution and addresses India's vision of Atmanirbhar Bharat.

 

At 11:14 AM; AEL was trading 4 per cent higher at Rs 2,965, as compared to 0.13 per cent decline in the Nifty 50. A combined 2.44 million equity shares changed hands on the NSE and BSE.