Key Takeaways
- Adani Ports reports 29% profit surge to ₹9,167 crore revenue
- Adani Enterprises profits decline despite one-time gains from stake sales
- Flagship company approves ₹25,000 crore rights issue amid business challenges
Adani Group’s two key companies showed divergent performance in Q2, with Adani Ports delivering robust growth while Adani Enterprises faced headwinds in its core commodities business.
Adani Enterprises: Weak Commodities Offset by Stake Sales
Adani Enterprises reported a 6% year-on-year revenue decline to ₹21,844 crore, primarily due to weakness in its integrated resources management segment, which saw income drop by nearly one-third to ₹6,843 crore. The company’s consolidated EBITDA fell by 10% to ₹3,902 crore.
However, exceptional gains from stake sales provided a temporary boost. The company recorded ₹2,969 crore from selling approximately 10.42% stake in AWL Agri Business Ltd (formerly Adani Wilmar) and another ₹615 crore from transferring Adani Cementation Ltd stake to Ambuja Cements.
These one-time gains helped nearly double the profit to ₹3,199 crore, though profit shrank when excluding these exceptional items.
“The financials were impacted due to a reduction in trade volume and price volatility in the company’s primary industry vertical,” said Jugeshinder Singh, Group CFO of Adani Group.
Major Fundraising Initiative
The board of Adani Enterprises approved raising up to ₹25,000 crore through a rights issue for eligible shareholders. This follows the company’s ₹4,200 crore fundraise through qualified institutional placement in October 2024.
Singh indicated that future EBITDA will reflect the impact of new projects including the Navi Mumbai airport, copper plant in Kutch, and the 90% complete Ganga Expressway in Uttar Pradesh.
Adani Ports: Strong Growth Across Operations
Adani Ports and Special Economic Zone Ltd (APSEZ) demonstrated impressive performance with a 29% year-on-year profit increase and 30% revenue growth to ₹9,167 crore. The company now operates 19 ports and terminals, including four international facilities.
EBITDA grew 27% to ₹5,550 crore, with the flagship Mundra port in Gujarat reporting a 20% EBITDA increase to ₹1,515 crore. The new Vizhinjam transhipment terminal in Kerala contributed ₹153 crore to EBITDA, while the newly acquired Gopalpur port added ₹16 crore.
“Our strong, across-the-board profitable growth momentum truly underscores the success of our unmatched integrated transport utility value proposition,” said Ashwani Gupta, Whole-time Director and CEO of APSEZ. “Logistics and marine businesses have continued their exponential growth trajectory, further reinforcing our port-gate to customer-gate offering.”
The contrasting performances highlight the Adani Group’s diversified business model, with ports continuing as the cash generator while the flagship company navigates commodity market challenges through strategic fundraising and future project development.
