Adani Enterprises Ltd (BOM:512599) Q2 2025 Earnings Call Highlights: Record EBITDA and Robust ...

GuruFocus News
3 min read

In This Article:

  • Highest Ever EBITDA: INR8,654 crore for the half year.

  • Emerging Core Infra Businesses EBITDA: INR5,233 crore, up 85% year-on-year.

  • Other Income: INR17,287 crore, increased by over 53% for the first half of FY25.

  • Profit Before Tax: INR4,644 crore, up 137% for the first half.

  • Consolidated Income: INR49,263 crore, up 14% for the first half.

  • Mining Services Revenue: INR803 crore, up 64% year-on-year.

  • Mining Services EBITDA: INR400 crore, up 65% year-on-year.

  • Integrated Resource Management Revenue: INR9,697 crore.

  • Integrated Resource Management EBITDA: INR927 crore.

  • Total Mining Services Dispatch: 8.2 million metric tons, up 32% year-on-year.

  • Commercial Mining Shipment: 3.8 million metric tons for the quarter.

Release Date: October 29, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • Adani Enterprises Ltd (BOM:512599) recorded its highest ever EBITDA of INR8,654 crore for the half year, marking a 47% increase year-on-year.

  • The emerging core infra businesses reported a significant 85% increase in half-year EBITDA to INR5,233 crore.

  • The company achieved a 138% increase in profit before tax to INR2,678 crore for the first half of FY25.

  • Adani Enterprises Ltd's airport business handled approximately 53% of India's passenger movements, showcasing strong operational performance.

  • The mining services portfolio saw a 32% increase in dispatches and a 65% rise in EBITDA, indicating robust growth in this segment.

Negative Points

  • The company's CapEx for the first half was lower than anticipated due to extended monsoon periods, affecting project timelines.

  • There is a sequential moderation in the segment EBITDA for the ANIL segment, attributed to order spillovers.

  • Interest expenses are expected to rise slightly due to FX-based borrowings, despite a drop in sequential interest costs.

  • The copper business is yet to contribute meaningfully to the company's financials, with significant EBITDA expected only in the last quarter of the year.

  • The timeline for the completion of the Navi Mumbai airport and other projects may face delays due to monsoon-related disruptions.

Q & A Highlights

Q: Can you provide an update on the CapEx plans for the year, particularly for different segments? A: The full-year CapEx is expected to be around INR67,000 crore. For New Industries, it's INR28,000 crore; Airports, INR16,000 crore; Roads, INR12,000 crore; Data Centers, INR5,000 crore; and other businesses, INR5,000 crore. The slower CapEx in the first half was due to monsoon seasonality, but it will ramp up in the coming months. - Jugeshinder Singh, CFO

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