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Adani Enterprises Ltd (AEL), part of the Adani Group, has announced its earnings before interest, taxes, depreciation, and amortization (EBIDTA) increased by 43 percent to Rs. 5,874 crore during the quarter and half year ended September 30, 2023.
The report also states emerging core infra incubating businesses contributed 48 percent of the total EBIDTA for Adani Enterprises. Meanwhile, incubating assets backed EBIDTA surged by 111 percent to Rs. 2,825 crore, indicating robust growth and the significant role of these businesses in the company's financial performance.
AEL, has made significant progress in its strong incubation pipeline during the first half of the fiscal year 2023-24. The company's latest results showcase the emergence of key incubating businesses, including green hydrogen integrated manufacturing ecosystem, airports and roads, which collectively contributed 48% of the overall EBITDA.
“We are fundamentally reshaping the essence of incubation scale and velocity,” said Gautam Adani, Chairman of the Adani Group. “Adani Enterprises covers sectors that span energy, utility, transport, D2C, and primary industries. With many ventures now market-ready and thriving, our H1 FY23-24 results have been boosted by the core infra incubating businesses, thereby being a strong testament to our incubating ventures.”
Adani's quarterly business updates showcase robust year-over-year growth. In solar manufacturing, operational capacity is at 4.0 GW, with a 205 percent increase in module sales and the achievement of producing India's first wafer. Wind turbine manufacturing achieved key milestones, including Prototype 1 certification and commercial operations. AdaniConnex's data centers in Chennai, Noida, and Hyderabad are operating at substantial capacities. Adani Water attained a Commercial Operation Date certificate for the Prayagraj water project. Adani Airports exhibited remarkable growth, with a 31 percent surge in passenger movements, a 17 percent increase in air traffic movements, and a substantial cargo volume of 1.9 lakh metric tons, managing operations at seven airports.
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 unicorns like Adani Ports & SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the company has contributed significantly to make the country self-reliant with our portfolio of robust businesses. This has also led to significant returns to our shareholders over 3 decades.
The next generation of its strategic business investments are centered around green hydrogen ecosystem, airport management, data center, roads and primary industry like copper and petrochem all of which have significant scope for value unlocking.
Messenger/Sun Yath
