Adani Enterprises Limited (ADANIENT) — Financial Results | 30 January 2025(4 announcements)

Adani Enterprises Limited reported nine-month net profit of ₹3,254.08 crores for FY2025 (ended December 31, 2024). The company raised ₹4,200 crores via qualified institutional placement and divested its 43.94% stake in Adani Wilmar to 30.42%. However, the auditor issued a modified review citing ₹845.76 crores in alleged fund misuse at subsidiary Mumbai International Airport Limited (MIAL) involving ongoing CBI, ED, and Ministry of Corporate Affairs investigations. Additional regulatory matters include three SEBI show cause notices, ₹863.62 crores in custom duty demands, and pending corporate restructurings.

Adani Enterprises reported ₹72,763 crores consolidated total income for 9M FY25, growing 6% YoY, with EBITDA surging 29% to ₹12,377 crores. Incubating businesses (Green Hydrogen, Airports, Data Centers, Roads) drove growth with 62% EBITDA contribution. Net profit reached ₹3,254 crores. The Adani Wilmar exit generated ₹13,400 crores post-tax, enabling ₹70,800 crores capex at optimized debt ratios. Operational milestones include Navi Mumbai Airport validation testing and Hyderabad Data Center Phase I operationalization. ESG governance score improved to 63/100 from 49 in 2023.

Adani Enterprises reported 9M FY25 consolidated revenue of ₹72,763 crores (+6% YoY) and EBITDA of ₹12,377 crores (+29% YoY), with PAT of ₹3,254 crores (+17% YoY). Incubating businesses (green hydrogen, airports, data centers, roads) surged 77% in EBITDA to ₹7,674 crores, contributing 62% of total EBITDA. Key operational wins include Navi Mumbai Airport validation testing, Hyderabad Data Center reaching 50 MW operational capacity, and ANIL module sales jumping 74% to 3,273 MW. The Adani Wilmar exit generated ₹1.6 billion post-tax proceeds enabling ₹8.2 billion capex investments.

Adani Enterprises reported consolidated 9M FY2025 net profit of ₹3,990.09 crores, down 19.5% YoY, with Q3 net profit declining 88.4% to ₹228.64 crores from ₹1,972.75 crores YoY. The auditor's review contains qualifications: alleged misuse of funds at MIAL subsidiary totaling ₹845.76 crores, customs duty disputes of ₹863.62 crores, and ongoing SEBI/CBI investigations. The company raised ₹4,200 crores via QIP and divested 13.51% of Adani Wilmar stake. Debt-to-equity deteriorated to 1.35x from 1.00x YoY.