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Adani Enterprises Ltd announces FY25 results, Consolidated EBITDA increased by 26% to Rs. 16,722 cr

Adani Enterprises FY25 results highlight strong growth across its green hydrogen ecosystem, airports, data centers, and mining services, with a sharp rise in EBITDA and operational efficiency.

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Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, and the incubator of Adani Group, announced its results today for the quarter and year ended March 31, 2025. The incubation strength of AEL is strongly validated by these results. The consistency in the performance and growth of its incubating businesses is being reflected in each quarterly results over the last few years. AEL has not only delivered robust operational and financial performance but also has remained focused on the timely completion of large infra projects, capacity extension and asset utilization of its businesses. "At Adani Enterprises, we are building businesses that will define the way forward for India's infrastructure and energy sector,” said Mr Gautam Adani, Chairman of the Adani Group. “Our robust performance in FY25 is a direct outcome of our strengths in scale, speed and sustainability. Impressive growth across our incubating businesses reflects the power of disciplined execution, future-focused investments and a commitment to operational excellence, innovation and sustainability. As we scale up in energy transition, airports, data centers and mining services, we are creating new market leaders that will drive India's growth story for decades to come. Each success across our incubation spectrum accelerates our mission to create long-term value and catalyses India's emergence as a global economic powerhouse."

Consolidated Financial Highlights

Particulars Q4 FY24 Q4 FY25 % change Y-o-Y FY24 FY25 % change Y-o-Y
Total Income 29,630 27,602 (7%) 98,282 100,365 2%
EBITDA 3,646 4,346 19% 13,237 16,722 26%
Exceptional Gain/(Loss) (627) – – (715) 342 –
Profit Before Tax 694 5,259 6.6x 4,925 10,479 1.1x
Profit After Tax¹ 449 3,845² 7.5x 3,240 7,112² 1.2x
Cash Accruals³ 1,652 1,190 (28%) 7,076 7,968 13%

Notes:

PAT attributable to shareholders

Excludes post-tax exceptional gain of ₹3,286 Cr from AVNL stake sale of 13.5% sale

Cash Accruals = Profit Before Tax + Depreciation – Current Taxes

Incubating Businesses Financial Highlights (₹ in crore)

ANIL Ecosystem

Particulars Q4 FY24 Q4 FY25 % change Y-o-Y FY24 FY25 % change Y-o-Y
Total Income 2,775 3,661 32% 8,741 14,236 63%
EBITDA 641 1,110 73% 2,296 4,776 1.1x
PBT 256 442 73% 1,884 3,958 1.1x

Airports

Particulars Q4 FY24 Q4 FY25 % change Y-o-Y FY24 FY25 % change Y-o-Y
Total Income 2,195 2,831 29% 8,062 10,204 27%
EBITDA 662 953 44% 2,437 3,480 43%
PBT 29 (5) – (68) (5) –

Operational Highlights

ANIL Ecosystem

Volume Q4 FY24 Q4 FY25 % change Y-o-Y FY24 FY25 % change Y-o-Y
Module Sales (MW) 797 990 24% 2,679 4,263 59%
WTG (Sets) 48 66 38% 54 164 3.0x

Airports

Volume Q4 FY24 Q4 FY25 % change Y-o-Y FY24 FY25 % change Y-o-Y
Pax movement (Mn) 23.2 24.7 6% 88.6 94.4 7%
ATMs (‘000) 153.0 157.8 3% 593.8 623.8 5%
Cargo (Lacs MT) 2.7 3.2 18% 10.1 10.9 8%

Roads

Volume Q4 FY24 Q4 FY25 % change Y-o-Y FY24 FY25 % change Y-o-Y
Construction (L-KM) 284.6 694.6 1.4x 514.8 2,410.1 3.7x

Mining Services

Volume Q4 FY24 Q4 FY25 % change Y-o-Y FY24 FY25 % change Y-o-Y
Dispatch (MMT) 10.4 13.6 31% 30.9 43.3 40%
IRM 24.7 15.3 (38%) 82.1 56.5 (31%)

Business Updates

Adani New Industries (ANIL - Green Hydrogen Ecosystem)

Solar manufacturing

• Module sales increased by 59% y-o-y basis to 4263 MW with higher EBITDA margins on account of improved realization and operational efficiency

• Construction started for additional 6 GW cell and module line capacity extension with financial closure secured

Wind Turbine manufacturing

• Capacity increased to 2.25 GW (450 sets p.a.) with its offerings of four listed WTG models

• Won “ICC Green Energy award” in the 5th edition of Green Urja and Energy Efficiency awards

AdaniConnex Pvt Ltd (ACX - Data Center)

Hyderabad Data Center

• Phase II of Hyderabad Data Center of 9.6 MW CBS 100% and MEP ~38% completed

Noida Data Center

• Construction completed for 50 MW CBS and 10 MW MEP

Pune Data Center

• Construction completion for Pune I –78% and Pune II –89% for Phase I - 9.6 MW each

CBS: Core & Shell | MEP: Mechanical, Electrical & Plumbing

Adani Airport Holdings Ltd (AAHL - Airports)

• 12 new routes and 8 new flights added during the quarter

• Mumbai Airport received Outstanding Achievement “Diamond Rating” in emission reduction from Global Energy and Environment Foundation

Natural Resources – Mining Services

• Parsa coal block is operational with peak capacity of 5 MMTPA

• Portfolio of 13 mining service contracts, of which six are operational

ESG Highlights

  • The CDP-CC has upgraded AEL rating to A- for 2024 which denotes “Leadership Category” indicating AEL’s dedication and commitment to lowering GHG emissions
  • AEL is also rated “Strong” with a score of 67.5 by ESG Risk Assessment & Insight for its overall improvement in ESG performance

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, AEL 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 its robust businesses. This has also led to significant returns to its 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.

Adani Enterprises Ltd