Adani Enterprises : Q4 FY24

Media Release

Adani Enterprises Ltd announces Q4 and FY24 Results

Consolidated EBIDTA for FY24 increased by 32% to Rs. 13,237 cr Consolidated PBT for FY24 increased by 56% to Rs. 5,640 cr Incubating businesses Consolidated EBIDTA grew by 47% YoY India's first large-sizedingot-wafer unit of 2 GW capacity operational Adani's copper unit of 500 KTPA in Mundra operational

Editor's Synopsis

Consolidated highlights FY24 (YoY)

• EBIDTA increased by 32% to Rs. 13,237 cr
• PBT increased by 56% to Rs. 5,640 cr
• ANIL Ecosystem EBIDTA increased by 4.6x to Rs. 2,296 cr
• Airports EBIDTA grew by 45% to Rs. 2,437 cr
• Air Passenger Traffic increased by 19% to 88.6 million

Consolidated highlights Q4 FY24 (YoY)

• EBIDTA stood at Rs. 3,646 cr vs Rs. 3,974 cr in Q4 FY23 (Q4 FY23 included cumulative EBIDTA of Rs. 1,038 Cr for 3 HAM Projects in Road business)
• PBT stood at Rs. 1,322 cr vs Rs. 1,554 cr in Q4 FY23 in line with above
• ANIL Ecosystem EBIDTA increased by 6.2x to Rs. 641 cr
• Airports EBIDTA grew by 130% to Rs. 662 cr

Business highlights

• ANIL Solar Manufacturing division has successfully commissioned India's first large- sized monocrystalline ingot and wafer unit of 2 GW capacity
• Adani's copper unit under Kutch Copper Ltd commissioned the 500 KTPA greenfield copper refinery project showcasing the Adani Group's ability to plan and execute largescale projects in record time
• Adani Airports inaugurated Phase I of Integrated terminal 3 of Lucknow Airport
• AdaniConneX's orderbook increased to 210 MW from 112 MW

Ahmedabad, May 2, 2024: Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the quarter and year ended March 31, 2024

The emerging core infra businesses comprising of ANIL Ecosystem, Airports and Roads are making significant strides in their operational performance. The contribution of these businesses to the overall EBIDTA has consistently increased to 45% for FY24 compared to 40% in FY23.

Adani Enterprises Ltd (CIN No : L51100GJ1993PLC019067) Registered Office :

"Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : [phone] ; Fax : [phone] ; Email : [e-mail] ; Website : www.adanienterprises.com

"Adani Enterprises has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development," said Mr Gautam Adani, Chairman of the Adani Group. "AEL's resilient growth model of incubation confirms the operational and organizational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders. We remain dedicated to corporate governance, meticulous compliance, robust performance and effective capital flow management."

Consolidated Financial Highlights											(Rs. in Crore)
		Particulars			Q4			Q4			YoY			FY23			FY24			YoY
				FY23			FY24			Change							Change
	Total Income	29,311			29,630			1%		1,28,734		98,282			(24%)
	EBIDTA	3,974			3,646		(8%)		10,012		13,237			32%
	Profit Before Tax	1,554			1,322			(15%)		3,607		5,640			56%
	Profit After Tax1	735			449			(39%)		2,464		3,240			31%
	Cash Accruals2	2,249			1,662			(26%)		5,277		7,076			34%

Note: 1. PAT attributable to owners 2. Cash Accruals is equal to Profit Before Tax + Depreciation - Current Taxes

Incubating Businesses Financial Highlights

Business		Particulars			Q4			Q4			YoY			FY23			FY24			YoY
			FY23			FY24			Change							Change
ANIL		Total Income	908		2,775		2.1x		3,567		8,741		145%
	EBIDTA	89		641			6.2x		411	2,296			4.6x
Ecosystem
	PBT	35		536			14.3x		152		1,884			11.4x
		Total Income	1,657		2,195			32%		5,989		8,062			35%
Airports		EBIDTA	288		662			130%		1,681		2,437			45%
		PBT	(275)		29			111%		(538)	(68)			87%

Operational Highlights

Business	UoM		Q4			Q4			YoY			FY23			FY24			YoY
	FY23			FY24			Change							Change
ANIL	Module Sales	MW	315		797			153%		1,275		2,679			110%
Ecosystem	WTG	Sets	-		47			#1		-		54			#1
AAHL -	Pax movement	Mn	21.3		23.2			9%		74.4		88.6			19%
ATMs	'000	146.4		153.0			5%		538.7		593.8			10%
Airports
Cargo	Lacs MT	1.8		1.7			(9%)		7.8		8.1			3%
ARTL - Roads	Construction	Lane-KMs	37.7	284.6			7.5x		284.1		514.8			81%
Mining	Production	MMT	10.0		11.4			14%		29.7		32.5			9%
Services	Dispatch	MMT	7.9		10.7			35%		25.4		30.9			22%
IRM	Volume	MMT	20.5		24.7			21%		88.1		82.1			(7%)

#1 Commercial production and supply of WTG sets started from Q3 FY24 I UoM: Unit of Measurement

Adani Enterprises Ltd (CIN No : L51100GJ1993PLC019067) Registered Office :

"Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : [phone] ; Fax : [phone] ; Email : [e-mail] ; Website : www.adanienterprises.com

Business Updates:

Adani New Industries Ecosystem

Solar manufacturing

• India's first large-sized monocrystalline ingot and wafer unit of 2 GW capacity operational
• The TopCon Cell line of 2.0 GW became operational in March 2024

Wind Turbine manufacturing

• Order Book at 254 sets
• Provisional Type Certificate received from WindGuard Certification GmbH for Prototype 2 using ANIL blades
• ANIL 5.2MW WTG recognized as Bronze winner among the up to 5.6 MW capacity WTGs globally by Windpower

AdaniConnex Pvt Ltd (ACX - Data Center)

Noida Data Center

• Construction Completion ~81% of 50MW core & shell + 10 MW MEP (Mechanical, Electrical & Plumping works)

Hyderabad Data Center

• Construction Completion ~88% for Phase I - 9.6 MW
  Pune Data Center
• Pune I ~10% and Pune II ~18% for Phase I - 9.6 MW
  Order Book & Awards
• 210+ MW Order book from Hyperscale & Enterprise customers
• AdaniConneX's AI based safety analytics tool has been honored with Gold SKOCH ESG Award 2024
• AdaniConneX's Hyderabad site first in India to receive Five-star grading from British safety council

Adani Airports Holdings Ltd (AAHL - Airports)

• Air passenger traffic showed a strong growth of 19% in FY24
• Inaugurated Phase I of Integrated terminal 3 of Lucknow airport
• During the quarter 10 New Routes, 7 New Airlines and 18 New Flights added
• Mumbai Airport won the Cargo Airport of the Year - India Award - The STAT Times International Award for Excellence in Air Cargo demonstrates the best in quality of service and performance

Adani Enterprises Ltd (CIN No : L51100GJ1993PLC019067) Registered Office :

"Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : [phone] ; Fax : [phone] ; Email : [e-mail] ; Website : www.adanienterprises.com

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, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities. Having successfully built sizeable and scalable businesses like Adani Ports & SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the company has contributed to make India self-reliant with our robust businesses. This has also led to significant returns to our shareholders for three decades.

The next generation of its strategic business investments are centered around green hydrogen ecosystem, airport management, data center, roads and primary industries like copper and petrochem - all of which have significant scope for value unlocking.

For more information, please visit www.adanienterprises.com

For more information please contact: Roy Paul

Adani Group,

Corporate Communication

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[e-mail]

Investor Relations Connect:

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Adani Enterprises Ltd	Adani Enterprises Ltd
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Adani Enterprises Ltd (CIN No : L51100GJ1993PLC019067) Registered Office :

"Adani Corporate House", Shantigram, Near Vaishno Devi Circle, S.G. Highway, Khodiyar, Ahmedabad 382 421, Phone : [phone] ; Fax : [phone] ; Email : [e-mail] ; Website : www.adanienterprises.com