Adani Enterprises fell 1.62% to Rs 130.55 after consolidated net profit fell 78.44% to Rs 61 crore in Q4 March 2020 from Rs 283 crore in Q4 March 2019.
Consolidated total income for the fourth quarter increased by 2% to Rs 13,698 crore as compared to Rs 13,473 crore in the corresponding quarter in the previous year. EBIDTA declined 31.38% to Rs 647 crore from Rs 943 crore in Q4 FY19.
In mining services business, production volume at Parsa Kente coal mine in Chhattisgarh declined 7.92% to 4.53 million metric tonnes (MMT) from 4.92 MMT in Q4 FY19. The company commence the coal production at Gare Pelma III mine in Chhattisgarh and the volume during the quarter stood at 0.45 MMT.
Mundra SEZ-based solar cell and module manufacturing unit's Q4 FY20 volume fell 25.76% to 193 MW modules from 260 MW modules in Q4 FY19.
In food business, the company held more than 20% market share in the refined edible oil market and it "Fortune" brand maintained its leadership position.
The company has signed three concession agreements with NHAI under hybrid annuity model for construction of roads aggregating to 150+ KMs, with project completion status of 40% in Bilaspur-Pathrapali project at Chhattisgarh. It has also received two letters of award from NHAI for construction of roads aggregating to 60+ KMs in the state of Andhra Pradesh and Madhya Pradesh.
The company has won bids for six airports at Ahmedabad, Mangalore, Lucknow, Trivandrum, Jaipur and Guwahati, out of which concession agreements have been signed for Ahmedabad, Mangalore and Lucknow.
The company's consolidated net profit rose 59% to Rs 1138 crore on an 8% increase in total income to Rs 44,086 crore in the full year ended on 31 March 2020 as compared to the full year ended on 31 March 2019. EBIDTA for FY20 increased by 17% to Rs 2,968 crore from Rs 2,541 crore in FY19.
Due to the outbreak of COVID-19 globally and in India, the company's management has made initial assessment of likely adverse impact on business and financial risks, and believes that the impact is likely to be short term in nature. The management does see any medium to long term risks in the company's ability to continue as a going concern and meeting its liabilities as and when they fall due.
Adani Enterprises (AEL) is the flagship company of Adani Group. The company has a diversified business portfolio comprising integrated coal management and mining services, solar modules manufacturing as well as edible oil business.
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