Adani Enterprises becomes 4th Group company to cross Rs 3 trillion m-cap

Adani Enterprises (AEL) has become the fourth Gautam Adani Group company to cross the Rs 3-trillion market capitalisation (market-cap). The stock hit a fresh record high at Rs 2,693.30, up 1 per cent on the BSE in Tuesday’s intra-day trade.

In the past one month, the stock price of AEL has rallied 20 per cent, as compared to 9.4 per cent rise in the S&P BSE Sensex. Further, on a six-month time period, the stock has zoomed 52 per cent against a 3 per cent decline in the benchmark index.

AEL is one of the fastest growing diversified businesses that provide an extensive range of products and services. The company operates as an incubator, establishing new businesses in transport and logistics, and energy & utility sectors, apart from increasing focus on direct-to-consumer businesses.

AEL is leading decarbonization initiative of industries and mobility through Adani New Industries Limited (ANIL). Other next-generation of AEL’s strategic business investments are centered around airport management, roads, data center and water infrastructure, which has significant scope for value unlocking.

At 11:25 AM, with a market-cap of Rs 3.07 trillion stood at the 18th position in the overall market-cap ranking among the BSE listed companies, the exchange data showed. Currently, Adani Transmission tops the group list with a Rs 3.77 trillion market-cap, followed by Adani Green Energy (Rs 3.62 trillion) and Adani Total Gas (Rs 3.54 trillion).

Meanwhile, the board of directors of AEL are scheduled to meet on Thursday, August 4, 2022 to consider and approve unaudited financial results of the company for the quarter ended June 30, 2022 (Q1FY23) and fund raising by way of issuance of debt securities.

In January-March quarter (Q4FY22), AEL made a net profit of Rs 304 crore, 30 per cent higher as compared to the same quarter in FY21 on account of improved performance of both developing and established business. EBITDA rose 44 per cent to Rs 1,538 crore in Q4FY22 year-on-year (YOY), due to higher contribution from Airports business on the back of MIAL consolidation. Total income increased by 84 per cent YoY to Rs 25,142 crore on account of improved realization on the back of higher prices in Integrated Resources Management (IRM) segment.

AEL’s existing business have strengthened their performance and the management sees exciting journey ahead for the company’s new businesses like networked airport eco-systems, road and water infrastructure and green data centers. Add to this, the focus on new energy businesses and digital consumer platform, along with the company’s ability to execute, will propel the shareholders’ value, the management had said.