scorecardAdani Enterprises Q4 net profit more than doubles YoY to ₹722 crore as airports and roads businesses pick up pace
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Adani Enterprises Q4 net profit more than doubles YoY to ₹722 crore as airports and roads businesses pick up pace

Adani Enterprises Q4 net profit more than doubles YoY to ₹722 crore as airports and roads businesses pick up pace
Business5 min read
  • Adani Enterprises’ Q4 net profit more than doubled YoY to ₹722 crore, while for the full FY23, its net profit more than tripled to ₹2,473 crore.
  • The Gautam Adani-led company’s topline almost doubled during FY23 to ₹1.37 lakh crore from ₹69,420 crore in FY22.
  • The company’s airports and roads businesses picked up pace during the quarter, while the mining business also delivered robust topline improvements.
Gautam Adani-led Adani Enterprises on Thursday reported a net profit of ₹722 crore for the fourth quarter, more than doubling it from ₹304 crore a year ago. Driving the profitability were the company’s capital-intensive airports and roads businesses. For FY23, the net profit more than tripled to ₹2,473 crore from ₹777 crore a year ago.

The Adani group’s flagship company also reported healthy topline growth during the March quarter – revenue rose by 26% on year to ₹31,346 crore. For FY23, its revenue almost doubled to ₹1.37 lakh crore from ₹69,420 crore in FY22.

The company’s operational performance is also on an upswing – earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 112% to ₹10,025 crore in FY23, with airports and roads businesses driving the growth.

Margins continue to improve

Apart from the strong top line and bottom line performances, Adani Enterprises also reported an improvement in margins on both annual as well as quarterly basis – its net margins rose by 70 basis points in FY23 to 1.8%, and by 110 basis points in Q4 to 2.3%.

“Our mega-scale infrastructure project execution capabilities and our operating and maintenance management skills, which are comparable to the best in the world, are strengths that we continue to derive from the Adani portfolio’s diversity to create reliable long-term value for all our investors,” said Gautam Adani, chairman, Adani group.

Adani Enterprises declared a dividend of ₹1.2 per share for FY23, with the record date set as July 7, 2023.

Adani Enterprises' Q4 and FY23 in numbers:

Particulars

FY23

FY22

Q4 FY23

Q4 FY22

Revenue

₹1,36,978 crore

₹69,420 crore

₹31,346 crore

₹24,866 crore

Net profit

₹2,473 crore

₹777 crore

₹722 crore

₹304 crore

Net margin

1.8%

1.1%

2.3%

1.2%


Source: Company reports

Established and incubating businesses continue to shine

Adani Enterprises’ established businesses, which include mineral supply, new energy and mining, as well as incubating businesses like airports, roads, and data centre operations, registered healthy growth during the quarter.

The integrated resource management (IRM) business, which includes supply of coal and other vital minerals, remained the company’s largest segment in Q4. However, its contribution to the company’s overall revenue fell to 59% during the quarter from 72% a year ago.

The mining and roads businesses ate into the share of IRM business, more than doubling their share in the company’s topline to 9% and 10% respectively, from 4% each a year ago.

During the March quarter, Adani Enterprises’ airports handled 74% more passengers at 21.4 million compared to a year ago, while the total cargo handled stood at 1.8 lakh metric tonne. The company also signed agreements for three new commercial coal mines during the quarter.

Segment-wise revenue:

Segment

Q4 FY23

Q4 FY22

Change

IRM

₹18,597 crore

₹17,857 crore

4%

Mining

₹2,688 crore

₹911 crore

195%

New Energy

₹893 crore

₹682 crore

31%

Airport

₹1,697 crore

₹1,166 crore

46%

Road

₹3,260 crore

₹886 crore

268%

Others

₹4,794 crore

₹4,199 crore

14%


Source: Company reports

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