Adani Enterprises Ltd

1QFY20 Performance Highlights

August 2019
Adani Enterprises (AEL) - History

2019: Forayed in to Airports, Roads, Water & Data Centre

2018: Demerger & Listing of Adani Green Energy & Adani Gas

2015: Demerger & Listing of APSEZ, APL & ATL

2008
Awarded Bunyu Coal Mine Indonesia
2017 Solar Mfg plant commissioned

2006 2009-10
• Awarded India’s 1st MDO • APL & ATL started
• Stock Split: 10:1 • QIP of $ 850 Mn
• Carmichael Coal Mine acquired
1999
2007
• Coal ICM Commenced
Grain Silo started at 7 locations
• Signed JV with Wilmar
• Bonus Issue of 1 : 1
2001
Adani Gas started

1995-96
Nov-1994 listed Adani Ports started
@ Rs 150/share Bonus Issue 1 : 1
Subscribed 25x

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AEL 2.0 - Tested incubation model poised for growth beyond 2020
AEL Business Portfolio

Resources Transport & Logistics Utility Others

Integrated Coal Rail /

Mining Airports Roads Water Data Centre Strategic Investments
Management Metro

Embarked up on 2nd phase of infrastructure creation in AEL

• India’s largest integrated coal
management (volume 67MMT
• won bids for 6 airports • Solar Manufacturing
in FY19)
• developing 3 HAM Road projects • Agro
• Largest MDO operator
• undertaking 1 water HAM project • Defence
• Mining in Indonesia &
Australia
• setting up 1 GW of Data Centre capacity

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AEL - Value Creation for Shareholders through Demerger
Value Creation since 2015 Value Creation in 2018-19

1252 354

224
95 170

618
519 28 578
60 34
133

420
519 133 151
354
110
22-Jan-15 Post-Demerger Value as on 01-Jul-17 30-Jun-19
(03-Jun-15) 30-Jun-19
AEL Value AGEL Value AGL Value
AEL Value APSEZ Value APL Value ATL Value

₹ 150 ~30% CAGR ₹ 100,000

in Nov 1994 in Jun 2019
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AEL – Business Highlights 1QFY20

ICM  ICM volume rose by 61% to 18.5 MMT during the quarter vs 11.5 MMT in 1QFY19

Mining  Washed Coal dispatch volume during the quarter 2.4 MMT
&
Services  Operationalised 2 coal MDO blocks – Gare Pelma III and Talabibra II & III

 Solar Module volume grew ~3x to 236 MW against 81 MW in the corresponding

MSPVL quarter previous year

Note: ICM – Integrated Coal Management 5

MSPVL – Mundra Solar PV Ltd
AEL – Key Consolidated Financials
(Rs Cr)

Q1FY20 Q1FY19 % 4QFY19 %

Revenue 10,686 7,664 39% 13,473 -21%

EBIDTA 896 484 85% 943 -5%

PAT 601 169 255% 283 112%

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AEL – Key Consolidated Financials – Segment wise
(Rs Cr)

ICM Mining & Services MSPVL

Q1FY20 Q1FY19 Q1FY20 Q1FY19 Q1FY20 Q1FY19

Volume 18.5MMT 11.5MMT 61% 2.4MMT 2.2MMT 11% 236MW 81MW 191%

Revenue 8,072 5,814 39% 499 320 56% 509 247 106%

EBIDTA 355 243 46% 335 176 90% 66 -29 -328%

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AEL – Adani Wilmar: Steady overall performance
(Rs Cr)

Q1FY20 Q1FY19 % Change 4QFY19 % Change

Revenue 7,497 7,100 6% 7,597 -1%

EBIDTA 382 345 11% 349 8%

 Fortune brand continues to dominate the domestic retail consumer pack market
with 20% market share

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AEL – Robust Leverage Profile
(Rs Cr)

Jun-19 Mar-19
ST Debt & ST Debt &
Segment LT Debt Total LT Debt Total
WC WC
ICM 900 4,614 5,514 1,608 3,934 5,542
Mining & Services 524 261 785 530 518 1,047
Solar Manufacturing 1,320 445 1,765 1,390 407 1,797
Shipping 652 - 652 730 - 730
Uncubating Businesses - 1,147 1,147 20 1,712 1,732
Others 27 974 1,001 74 323 396
Total Debt 3,422 7,441 10,863 4,351 6,892 11,243

Net Worth 16,125 15,144

Debt : Net Worth 0.7x 0.7x

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Certain statements made in this presentation may not be based on historical AEL assumes no responsibility to publicly amend, modify or revise any forward
information or facts and may be “forward-looking statements,” including those looking statements, on the basis of any subsequent development, information or
relating to general business plans and strategy of Adani Enterprises Limited events, or otherwise. Unless otherwise stated in this document, the information
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forward-looking statements due to a number of factors, including future changes notify any person of such revision or changes.
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