Adani Group

November 14, 2011
Ahmedabad

Consolidated Q2 FY12 Net Sales up 75% to Rs. 10,084 crore EBIDTA up by 70% to Rs. 1,528 crore PAT up by 9% to Rs. 553 crore

Editor’s Synopsis

• Net sales for Q2FY12 rose by 75% to Rs 10,084 crore Vs Rs 5,752 crore of Q2FY11

• EPS for Q2FY12 stood at Rs 5.03 per share Vs Rs 4.95 per share during the corresponding period a year ago

• H1FY12 Net sales rose to Rs 19,681 crore Vs Rs 11,651 crore of H1FY11 (69 % up-YoY) • Power generation rose to 3,298 million units in the Q2FY12 vs 1,495 million units in Q2FY11

• Total cargo handled at Ports rose to 22.37 MMT during Q2FY12 Vs 12.58 MMT of cargo in Q2FY11 (51 % up)

Adani Enterprises Ltd, the flagship company of the Adani Group – India’s leading integrated infrastructure conglomerate, today reported its financial results for the quarter and half year ended September 30, 2011. (Rs cr) Particular Consolidated Quarter ended, Sep 11 Quarter ended, Sep 10% Change Half Year ended, Sep 11 Half Year ended, Sep 10 % Change

Turnover 10,084 5,752 75% 19,681 11,651 69% EBITDA 1,528 897 70% 2,750 1,874 47% Profit Before Tax 777 640 21% 1,553 1,353 15% Net Profit 553 509 9% 1,122 1,073 5% EPS (Rs) 5.03 4.95 2% 10.21 10.44 -2%

Net profit for the three months ending September 30, 2011 stood at Rs 553 crore, compared to Rs 509 crore in the same period last year. Net sales for Q2 FY12 stood at Rs. 10,084 crore, up 75%, over Rs 5,752 crore in the corresponding period last year. For the half year (H1 FY12) ended September 30, the company’s net profit increased to Rs 1,122 crore, as against Rs 1,073 crore of the corresponding period a year ago. The company clocked net sales of Rs. 19,681 crore for the half-year ended September 30, 2011 versus Rs. 11,651 crore in the same period of last year. Earnings per share for Q2 FY12 stood at Rs 5.03 as compared to Rs 4.95 a share in the corresponding period a year ago.

Commenting on the quarterly results, Mr. Gautam Adani, Chairman, Adani Enterprises Ltd, said, “Despite the economic slowdown across global economies, we are proud to announce a healthy increase in the company’s revenues. The port and power business continue to fuel our growth and will be the key drivers to take Adani Enterprises to new frontiers and leadership position in the coming few years.”

Segment wise EBIDTA breakup:

(Rs. in crore) Particulars Q2FY12 Q2FY11 Power 553 208 Port 536 314 Coal Trading 365 278 Other Businesses 75 98

Business Highlights:

1. Power Generation:

During the half year ending September, 2011, Adani Power Ltd, a subsidiary of Adani Enterprises generated 6,488 million units at the Mundra power plant. The company’s total power generation capacity now stands at 2,640 MW including second 660 MW super critical power generation unit that was synchronised last quarter. Average plant load factor for the half year was at ~75%.

2. Port Operations

Mundra Port & SEZ handled 38.15 million tonnes cargo during H1 FY12, including Abbot port cargo of 5.03 million tonnes and Dahej port 1.3 million tonnes. Mundra Port handled 31.88 million tonnes of cargo, making it the 4th largest commercial port in India. It aims to handle total cargo capacity of about 300 million tonnes by 2012-13 including Australia’s Adani Abbot Point Coal Handling Terminal. Mundra Port handling capacity now stands at 165 million tonnes, making it one of India’s largest ports in terms of handling capacities.

3. Mine Developer and Operator (MDO)

Adani Mining, will become the first domestic MDO to take off in early 2012. Parsa East and Kante Basan coal blocks have received preliminary nod for mine development and operation to mine 15 MMTPA at peak level. These two blocks are estimated to have coal reserves of approximately 452 million tonnes. This agreement is valid for a period of 30 years from the date of signing of the agreement.

About The Adani Group

The US $ 6 billion Adani Group is rated amongst the top 10 and fastest growing business houses in India. An integrated infrastructure conglomerate, the Group has leveraged its strong project execution capabilities in key traditional industry verticals like Infrastructure, Mining, Power, Ports and SEZ to achieve significant growth and stakeholder value.

Founded in 1988, the Adani group today employs over 8,500 people across two continents. It has truly metamorphed from being a trusted trading house into a diversified multinational conglomerate with integrated operations across India, Indonesia and Australia.

Adani Enterprises Ltd, the Adani Group’s flagship company, has featured in the Forbes Asia’s Fab 50 for last two consecutive years. Forbes also ranked Adani Group chairman Gautam Adani as the 7th Richest Indian in 2011, while Fortune ranked him as the Business Leader of the Next Decade in its February 2011 issue.

Businesses:

Power: Spearheading the Adani Group’s foray into power infrastructure is Adani Power, implementing 16,500 MW of power generation projects at six locations across India, with the objective of generating 20,000 MW by 2020. It is also actively investing in cross country power transmission lines. Adani Power is credited with commissioning of India’s first environment friendly and energy efficient supercritical technology based 660 MW power unit. Adani Power is today the country’s largest thermal power producer in private sector.

Port Infrastructure: The Adani Group is also engaged in the creation of a port and special economic zone, logistics management (shipping to container train movement), storage and movement (food grain and orchard products) as well as realty development. The Adani Group established India’s largest private sector port and Special Economic Zone at Mundra (Gujarat) and is engaged in developing ports/terminals at Dahej, Hazira, Mormugao and Visakhapatnam in India and Adani Abbot Point in Australia. The Group is focused on emerging as the largest port in the country by aiming to handle 200 million tonnes of cargo by 2020.

Coal Mining: The Adani Group is the country’s largest importer and supplier of coal and is also its leading private mine developer and operator. It also owns mining and development rights for 130 Million tonnes coal mining in India. Adani owns coal mining rights in Indonesia and Australia. Adani supplied nearly 30 million tonnes of coal last fiscal to Indian companies and is expected to manage 200 million tonnes of coal by 2020.

Agro-products: The Adani Group is also engaged in the business of agro-products (Wheat, pulses and edible oil); its ‘Fortune’ brand is the largest edible oil brand in India today.

Oil & Gas: The Adani Group’s energy business basket includes the supply of Compressed Natural Gas to automobiles and piped natural gas to household users. It also has ventured into oil and gas exploration and production with assets in India, Thailand and Egypt.