Adani in the news

Adani Power total income jumps 87% to Rs 3949 crore in FY12; Mundra becomes world’s largest private thermal power plant
May 14, 2012

Adani Power Ltd, a subsidiary of Adani Enterprises Ltd and part of Adani Group, a global integrated player, today announced its financial results for the fourth quarter and financial year ended March 31, 2012.

For the financial year ended March 31, 2012, the net profit fell 156 percent to Rs (293.92) crore compared to Rs 523.75 crore in last fiscal, due to high fuel prices and currency depreciation. The total income FY12 jumped by a whopping 87% to Rs 3,948.90 crore, against Rs 2,106.43 crore the previous year as the company added 1320 MW in its power generating capacity.

For the fourth quarter ended March 31, 2012, net profit declined by 266% to Rs (290.16) crore, as compared to Rs 174.32 crore of the corresponding quarter last year. Total income for the same period stood at Rs 998.34 crore, registering a healthy growth of 17%, as compared to Rs 855.57 crore during the quarter ended March 31, 2011.

The EBIDTA margin for the March 2012 quarter stood at 10% as against 61% in Q4 FY11. Earnings per Share for Q4 FY12 worked out to Rs (1.33) as compared to Rs 0.80 of the same period a year ago.

Commenting on the financial performance, Gautam Adani, Chairman, Adani Power Ltd, said “Our power business is impacted by the national issue of unavailability of domestic coal, high prices of imported coal and limited availability of transmission lines. However, after noticing the active involvement of the government , we are confident that an early resolution will be found of the issue of FSA as well as tariff rationalization on account of high prices of imported coal. Adani Group continues to believe in Indian power industry and is moving as per schedule to commission two power projects in Tiroda and Kawai this year.”

Commenting on the financial results, Prabal Banerji, Chief Financial Officer, Adani Power Ltd said, “While last year, we have witnessed pressure on margins due to various issues, we are confident that this year the merchant rates will be better contributing positively and there will be adequate transmission capacity to evacuate full power. With the commissioning of our two new projects, Adani Power will generate close to 10,000 MW by end of this fiscal.”

Performance (Rs in crore)                      

ParticularsQ4FY12Q4FY11FY12FY11
Total Income9988563,9492,106
EBITDA965251,2391,241
Net Profit(290)174(294)524
EBIDTA Margin10%61%31%58%
PAT Margin 20% 25%
Gross Gen (Mn Units)3,8523,00713,7217,586
Units Sold(Million)3,4732,72912,3506,810
Avrg Realisation (Rs per kWh)2.873.143.203.09
Average PLF62%89%69%85%

Operational highlights of FY 2011-12

  • Commissioned the world’s largest private thermal plant with a capacity of 4,620 MW in Mundra, Gujarat.
  • Adani Power emerged as India’s largest private thermal power producer in India
  • Consolidated transmission business into one single company to integrate projects spread across various entities of Adani Group.
  • Adani Power conferred with National Energy Conversation Award 2011