Adani Group Q4 FY24: How The Conglomerate Fared

Adani Group companies reported robust performance in the fourth quarter of fiscal 2024.

Adani Enterprises Ltd., the flagship entity of the Adani Group, saw a 38% rise in profit for FY24. Additionally, the cement manufacturing arm owned by the Adani Group saw its profit rise to Rs 945 crore year-on-year during the quarter. The performance exceeded analysts' expectations, who had estimated a net income of Rs 377.4 crore, according to Bloomberg polls.

Adani Wilmar Ltd., which specialises in food and FMCG products, also achieved remarkable milestones in the previous fiscal. Its sales volume surpassed 1 million tonne, reaching nearly Rs 5,000 crore.

Adani Enterprises Ltd.'s profit advanced 38% for the financial year ending March 2024.

The bottom line of the company stood at Rs 3,335.27 crore during the previous fiscal, as compared with Rs 2,421.6 crore registered in the preceding fiscal.

Revenue reported was at Rs 96,420.98 crore during the April 2023-March 2024 period, according to a notification on stock exchanges.

Adani Ports and Special Economic Zone Ltd. logged a rise in net profit for the fourth quarter of the previous fiscal. Net profit increased 76.87% to Rs 2,014.8 crore in the January-March period, in line with estimates, as against Rs 1,139.1 crore in the year-ago period, according to an exchange filing on Thursday.

• Revenue rose 18.96% to Rs 6,896.5 crore vs Rs 5,796.8 crore.

• Ebitda rose 23.61% to Rs 4,043.8 crore vs Rs 3,271.3 crore.

• Ebitda margin expands 220 bps to 58.63% versus 56.43%.

• Net profit up 76.87% at Rs 2,014.8 crore vs Rs 1,139.1 crore.

Adani Wilmar Ltd.'s profit rose by 67% in the January-March quarter. Food and FMCG sales volume surpassed 1 million tonne and reached a milestone of almost Rs 5,000 crore in the previous fiscal.

The company reported robust sales growth in the March quarter, driven by increased retail penetration in edible oil and foods. Despite challenges in export, revenue stands at Rs 13,238 crore.

• Revenue down 4.6% to Rs 13,238.04 crore versus Rs 13,872.6 crore.

• Ebitda up 103.8% at Rs 363 crore versus Rs 178.1 crore.

• Margin at 2.74% versus 1.28%.

• Net profit up 67.5% at Rs 156.7 crore versus Rs 93.6 crore.

Adani Power Ltd.'s revenue increased by 30.47% in the fourth quarter of fiscal 2024.

The city power distribution company's revenue rose to Rs 13,363.7 crore in the quarter-ended March, as against Rs 10,242.1 crore over the same period last year, according to an exchange filing issued on Wednesday.

• Revenue up 30.47% at Rs 13,363.7 crore vs Rs 10,242.1 crore.

• Ebitda rose 154.25% to Rs 4,849.7 crore vs Rs 1,907.4 crore.

• Margin expanded 1,766 bps to 36.29% vs 18.62%.

• Net profit fell 47.78% to Rs 2,737.2 crore vs Rs 5,242.5 crore.

Adani Energy Solutions Ltd.'s net profit increased 9.48% in the fourth quarter of fiscal 2024.

The power distribution and transmission company's net profit rose to Rs 381.3 crore in the quarter-ended March, in comparison with Rs 348.2 crore in the previous quarter, according to an exchange filing on Tuesday.

• Net profit up 9.48% at Rs 381.3 crore vs Rs 348.2 crore.

• Revenue up 3.15% at Rs 4,706.8 crore vs Rs 4,562.7 crore.

• Ebitda up 2.49% at Rs 1,565.5 crore vs Rs 1,527.3 crore.

• Ebitda margin contracts 21 bps to 33.26% vs 33.47%.

Adani Total Gas Ltd.'s profit increased 71.54% from the year-ago period, in the fourth quarter of fiscal 2024.

The city gas distribution company's net profit rose to Rs 167.9 crore in the quarter-ended March, as compared with Rs 97.9 crore over the same period last year, according to an exchange filing issued on Tuesday.

• Revenue up 5.09% at Rs 1,166.9 crore.

• Ebitda rose 47.57% to Rs 288.02 crore.

• Margin expanded 717 basis points to 24.68%.

• Net profit up 71.54% at Rs 167.9 crore.

ACC Ltd.'s consolidated net profit surged 302% in the quarter-ended March 2024, surpassing analysts' estimates.

The Adani Group-owned cement manufacturer's profit increased to Rs 945 crore in the fourth quarter of fiscal 2024, according to an exchange filing on Thursday. Analysts' estimates polled by Bloomberg had pegged the net income at Rs 377.4 crore.

• Revenue up 13% at Rs 5,409 crore (Bloomberg estimate: Rs 4,727.5 crore).

• Ebitda up 79% at Rs 837 crore (Estimate: Rs 660.2 crore).

• Margin expands to 15% vs 10% (Estimate: 14%).

• Net profit up 302% at Rs 945 crore (Estimate: Rs 377.4 crore).

Ambuja Cements Ltd.'s fourth-quarter profit rose 5.94% year-on-year. The Adani Group-owned cement manufacturer's standalone net profit stood at Rs 532.3 crore in the quarter-ended March, as compared with Rs 502.4 crore a year ago, according to an exchange filing.

The board also recommended a final dividend of Rs 2 per share for the financial year.

• Revenue up 12.31% to Rs 4,780.3 crore versus Rs 4,256.3 crore.

• Ebitda up 1.2% to Rs 797.8 crore versus Rs 788.3 crore.

• Margin contracts 183 basis points to 16.68% versus 18.51%.

• Net profit up 5.94% to Rs 532.3 crore versus Rs 502.4 crore.

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