Adani Enterprises fell 2.63% to Rs 2,277.70 after the company posted 15.7% decrease in consolidated net profit to Rs 304.32 crore in Q4 FY22 as against Rs 360.93 crore in Q4 FY21.
Net sales in the fourth quarter stood at Rs 24,865.52 crore, surged 83.8% from Rs 13,525.07 crore reported in the same period last year. Total income jumped 84.4% to Rs 25,141.56 crore in Rs 13,688.95 crore in Q4 FY22 over Q4 FY21.The increase in total income was on account of improved realization on the back of higher prices in Integrated Resources Management (IRM) segment.
EBIDTA increased by 44% to Rs 1,538 crore due to higher contribution from Airports business on the back of MIAL (Mumbai International Airport) consolidation. The attributable PAT increased by 30% to Rs 304 crore as as compared to 234 crore on account of improved performance of both developing and established business.
In Q4 FY22, the company achieved financial closure for greenfield Navi Mumbai International Airport project with State Bank of India for entire debt of Rs 12,770 crore. The construction work commenced at Navi Mumbai Airport during the quarter. During this period, Adani Airports handled 12.4 million passengers, 96,000 air traffic movements and 1.6 lakhs MT cargo.
With respect to the roads business, the company received received LoA worth Rs 2,008 crore for Kagal-Satara road project of 67 kms in Maharashtra on BOT basis. Concession agreement signed for three greenfield Ganga Expressway projects of 464 km in Uttar Pradesh on Build, Operate and Transfer (BOT) basis. With this, total roads portfolio increased to 14 projects for construction / operation of roads aggregating to 5,000+ lane km.
In the Data Center segment, 85% of construction of Chennai Data Center completed while construction at Noida Data Center to be initiated in Q1 FY23.
In the Solar Manufacturing segment, Existing capacity of 1.5 GW being expanded to 3.5 GW, which will be completed by Q2 FY23. In the Mining Services segment, significant ramp up in Gare Pelma III, Talabira and Kurmitar mines led to increase in productions volumes by 28% in Q4 FY22.
Gautam Adani, the chairman of the Adani Group, said, AEL as the most successful incubator in India continues to develop exciting new businesses which are strategically linked to Adani portfolio of companies, AEL's existing business have strengthened their performance and we see exciting journey ahead for our new businesses like networked airport eco-systems, road and water infrastructure and green data centers. Add to this, the focus on new energy businesses and digital consumer platform, along with our ability to execute, will propel the shareholders' value. We remain confident in India's ability to become one of the fastest incubators of multi-industry unicorns.
Meanwhile, The company's board recommended a dividend of Rs 1 per share for the financial year ended on 31 March 2022.
Separately, Adani Enterprises intimated that Mumbai International Airport (MIAL), a subsidiary of the company has acquired 100% stake of Regency Convention Centre and Hotels for a cash consideration of Rs 64 crore. The acquisition will enable the company to undertake investments which provide benefits to the existing businesses of the Adani Group. Regency focuses on hotel and tourism business. Regency had zero turnovers for the financial years ended on 31 March 2022 and 31 March 2021.
In a separate regulatory filing released on Wednesday, 4 May 2022, Adani Enterprises announced that Mumbai International Airport (MIAL), which owns and operates the Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai, the second largest airport in India has successfully raised $750 million senior secured private placement notes from Apollo managed credit funds.
Apollo's credit business was able to provide a scaled, long-term capital solution for MIAL, with the majority of proceeds from the 7.25-years, $750 million notes to be used to refinance existing shorter maturity loans and new capital expenditure. MIAL is an iconic asset within AAHL's expanding airport infrastructure Portfolio and the marquee private placement is among the largest-ever completed in India.
This issuance by MIAL, which is a strategic asset in the AAHL portfolio of airports, marks the first step in its capital management plan. AAHL will continue to diversify the sources of financing through access to different pools of capital, the press release stated.
Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.
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