Media Release: Adani Enterprises Ltd FY23 Results

Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the financial year and quarter ended March 31, 2023. “Once again, Adani Enterprises Ltd has lived up to its standing as not only India’s most successful business incubator but also one of the world’s most successful infrastructure foundries,” said Mr Gautam Adani, Chairman, Adani Group. “The past year’s results represent indisputable evidence of the strength and resilience of the Adani Enterprises Ltd’s operational and financial performance. These exceptional results also highlight our consistent track record of gestating and building critical infrastructure businesses. Our mega-scale infrastructure project execution capabilities and our O&M management skills, which are comparable to the best in the world, are strengths that we continue to derive from the Adani Enterprises Ltd’s portfolio’s diversity to create reliable long-term value for all our investors. Our focus remains on governance, compliance, performance, and cashflow generation.”

Financial Highlights FY23 (Consolidated) (YoY Basis):

• Total Income increased by 96% to Rs. 1,38,175 cr on account of strong performance by Integrated Resource Management (IRM) and Airport business
• EBIDTA increased by 112% to Rs. 10,025 cr on the back of growth in incubating businesses, i.e. Airports & Roads apart from growth in IRM business in line with revenue
• Attributable PAT increased by 218% to Rs. 2,473 in line with increased EBIDTA

Financial Highlights Q4 FY23 (Consolidated) (YoY Basis):

• Total Income increased by 26% to Rs. 31,716 cr on account of strong performance by IRM and Airports business
• EBIDTA increased by 157% to Rs. 3,957 cr due to better operating performance across businesses
• Attributable PAT increased by 137% to Rs. 722 cr in line with increased EBIDTA

Business	Highlights
ANIL Ecosystem	Cell line COD declared on 31st March, 2023 for new 2.0 GW plantCompleted upgradation of existing 1.5 GW module line to 2.0 GW with TOPCON Cell Technology and COD declared on 1st April, 2023
AAHL – Airports	Mumbai airport achieves Highest Level 4+ “Transition” of ACA on carbon management maturity
ARTL – Roads	Completed 3 HAM road projects during FY 23Construction in full swing in remaining 10 projects 3 Border Check Posts made operational during Q4 FY23 in Maharashtra Border Check Post project

Operational Highlights (YoY Basis):

Business	FY23	Q4 FY23
ANIL Ecosystem	Modules volume up by 15% to 1275 MW	Modules volume up by 4% to 315 MW
AAHL – Airports (Seven Operational)	Pax movements up by 103% to 74.8 Mn	Pax movements up by 74% to 21.4 Mn
Primary Industries Mining Services	Production volume up by 7% to 29.7 MMT	Production volume up by 17% to 10.0 MMT
Primary Industries IRM	Volume up by 37% to 88.2 MMT	Volume up by 20% to 20.5 MMT

Business Updates (Q4 FY23):

Updates in Incubating Businesses for Q4 FY23

1. Adani Airports Holdings Ltd (AAHL – Airports)

• During the quarter, Adani Airports handled –
• 21.4 Mn passengers (Up by 74% YoY)
• 149.4 k Air Traffic Movements (Up by 56% YoY)
• 1.8 Lacs MT Cargo (Up by 14% YoY)

2. Adani Road Transport Ltd (ARTL – Roads)

• Construction in full swing across all HAM and BOT projects.
• Update for under construction projects is as below:

Project	State	Model	Completion %
Vijayawada Bypass	Andhra Pradesh	HAM	44%
Nanasa Pidgaon	Madhya Pradesh	HAM	48%
Kodad Khammam	Telangana	HAM	49%
Azhiyur Vengalam	Kerala	HAM	30%
Badakumari Karki	Odisha	HAM	31%
Panagarh Palsit	West Bengal	BOT	35%
Kagal Satara	Maharashtra	BOT	3%
Ganga Expressway – Budaun Hardoi	Uttar Pradesh	BOT	8%
Ganga Expressway – Hardoi Unnao	Uttar Pradesh	BOT	7%
Ganga Expressway – Unnao Prayagraj	Uttar Pradesh	BOT	8%

3. AdaniConnex Pvt Ltd (ACX – Data Center)

• Update on overall project completion at Data Centers

Data Center	Completion %
Chennai Phase-II (Phase-I 17 MW is already operational)	49%
Noida	37%
Hyderabad	30%

Updates on Established Businesses for Q4 FY23

1. Adani New Industries Ecosystem

Solar Cell & Module

• Cell line COD declared 31^st March, 2023 for New 2.0 GW Plant
• Completed upgradation of existing 1.5 GW module line to 2.0 GW TOPCONCellTechnology andCOD declared on 1^st April, 2023
• Volume increased by 4% to 315 MW

Wind Turbine manufacturing

• Prototype-2 – Assembly completed
• Blade manufacturing facility – Machine installation and ramp up work started

2. Primary Industries

• Mining Services production increased by 17% to 10.0 MMT
• Agreement for 3 commercial coal mines signed in Q4 FY23