BILKULONLINE
Ahmedabad, Nov 6: Adani Energy Solutions Limited , part of the globally diversified Adani portfolio, the largest private transmission and distribution company in India with a growing smart metering portfolio, today announced its financial and operational performance for the quarter and half year ended September 30, 2023.
Financial Highlights – Consolidated (Transmission and Distribution:
| Particulars (Rs Crore) | Q2 FY24 | Q2 FY23 | YoY % | 1H FY24 | 1H FY23 | YoY% |
| Revenue | 3,421 | 3,032 | 12.8% | 7,042 | 6,081 | 15.8% |
| Operational EBITDA | 1,368 | 1,241 | 10.2% | 2,622 | 2,454 | 6.9% |
| Total EBITDA | 1,443 | 1,362 | 6.0% | 2,821 | 2,688 | 5.0% |
| PBT | 370 | 250 | 48.1% | 713 | 452 | 57.9% |
| PAT | 284 | 194 | 46.1% | 466 | 363 | 28.5% |
| EPS (Rs) | 2.47 | 1.85 | 33.5% | 4.04 | 3.35 | 20.6% |
| Cash Profit | 757 | 748 | 1.2% | 1,406 | 1,479 | -4.9% |
Consolidated revenue in Q2 FY24 witnessed double-digit growth on account of newly commissioned lines (WKTL, JKTL, WRSS, and LBTL), commissioning of elements at NKTL and MP-II lines, an increase in energy consumption in the Mumbai Distribution business (AEML), and new customer additions- Consolidated EBITDA increased to Rs 1,443 Cr in the first quarter, a 6% YoY increase
- PBT came in at Rs 370 Cr, an increase of 48% YoY; In Q2 FY24, the consolidated PAT of Rs 284 Cr was 46% higher YoY
Segment-wise Financial Highlights:
| Particulars (Rs Crores) | Q2 FY24 | Q2 FY23 | YoY % | 1H FY24 | 1H FY23 | YoY% |
| Transmission Segment | ||||||
| Operational Revenue | 941 | 868 | 8.4% | 1,825 | 1,704 | 7.1% |
| Operational EBITDA | 854 | 786 | 8.6% | 1,661 | 1,553 | 7.0% |
| Margin (%) | 91% | 91% | – | 91% | 91% | – |
| Total EBITDA | 907 | 834 | 8.8% | 1,769 | 1,644 | 7.6% |
| PBT | 305 | 305 | 0.0% | 600 | 607 | -1.1% |
| PAT | 259 | 239 | 8.5% | 421 | 473 | -11.0% |
| Cash Profit | 501 | 480 | 4.2% | 918 | 948 | -3.1% |
| Distribution Segment(1) | ||||||
| Revenue | 2,480 | 2,164 | 14.6% | 5,217 | 4,377 | 19.2% |
| Operational EBITDA | 514 | 455 | 12.9% | 961 | 901 | 6.7% |
| Total EBITDA | 536 | 528 | 1.5% | 1,052 | 1,044 | 0.8% |
| PBT | 65 | -55 | 217.8% | 113 | -155 | 173% |
| PAT | 25 | -45 | 155.1% | 45 | -110 | 141% |
| Cash Profit | 256 | 268 | -4.2% | 488 | 531 | -8.0% |
- The increase in distribution revenue is on account of higher units sold and on account of customer acquisitions
- The distribution business continued to deliver strong performance, with double-digit growth in revenue and operational EBITDA during the quarter
- PAT in the transmission business in 1H FY24 declined due to a higher tax outgo of Rs. 65 Cr on dividend income at the parent AESL level
Segment-wise Key Operational Highlights:
| Particulars | Q2 FY24 | Q2 FY23 | Change |
| Transmission business | |||
| Average Availability (%) | 99.7% | 99.7% | In line |
| Transmission Network Added (ckm) | 219 | 352 | Lower |
| Distribution business (AEML) | |||
| Supply reliability (%) | 99.99% | 99.99% | In line |
| Distribution loss (%) | 5.81% | 6.0% | Higher |
| Units sold (MU’s) | 2,446 | 2,233 | Higher |
Anil Sardana, MD, Adani Energy Solutions Ltd., said, “AESL remains steadfast in its performance and continues to expand into multiple energy solution areas. It has been demonstrating its execution prowess by commissioning assets despite significant inherent challenges. AESL’s growth trajectory remains significant despite a challenging macroeconomic environment. Our pipeline of projects in both transmission and smart metering will further strengthen our pan-India presence and consolidate our position. AESL is consistently benchmarking to be the best-in-class and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality, and business excellence with high governance standards. The journey towards a robust ESG framework and practising a culture of safety is integral to our pursuit of enhanced long-term value creation for all our stakeholders.”