Adani Enterprises Limited — Q2 FY24
Adani Enterprises reported a strong H1 FY24 with consolidated total income of INR 48,876 crore and EBITDA up 43% YoY to INR 5,874 crore, driven by incubating businesses contribu...
bullish
high
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
67%Questions answered3Evaded / deflected12Questions audited
Answered
High priority
What is solar manufacturing capacity and is 4GW operating?
Asked by Bharat Jain, ICICI Securities
Answered directly with a specific number.
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Question
What is the capacity of solar manufacturing, and is the 4GW operating?
Vinay Prakash, CEO
Yes, the current capacity is approximately 4.5.
Answered
High priority
How much solar modules exported this quarter?
Asked by Bharat Jain, ICICI Securities
Provided exact export volume.
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Question
how much have you exported during the quarter?
Vinay Prakash, CEO
We exported 792MW worth of modules in this quarter.
Answered
Medium priority
What geographies are we exporting solar to?
Asked by Bharat Jain, ICICI Securities
Answered with a specific region.
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Question
what geographies are we exporting in?
Vinay Prakash, CEO
Mostly US.
Answered
High priority
What is the plan for wind manufacturing capacity?
Asked by Bharat Jain, ICICI Securities
Provided a specific capacity number.
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Question
what is the plan for wind manufacturing capacity?
Vinay Prakash, CEO
the starting capacity will be 1.5GW.
Answered
High priority
What is total CapEx on three data centers?
Asked by Bharat Jain, ICICI Securities
Provided specific CapEx numbers.
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Question
can you give us the total CapEx on the three data centers?
Vinay Prakash, CEO
about $500 million, about INR 4,390-odd crore.
Answered
Medium priority
Is Bailadila mine officially off contract?
Asked by Nirav Shah, DC Holdings
Confirmed clearly.
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Question
is it officially now, off contract?
Robbie Singh, CFO
Bailadila is officially out of our list now. We are not going ahead with that contract.
Partial answer
High priority
Can you shed light on solar margins and realizations?
Asked by Nirav Shah, DC Holdings
Acknowledged but did not explain drivers or quantify.
vague explanationno margin breakdown
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Question
on the margins front, we have done phenomenally well... can you just shed some light on that?
Robbie Singh, CFO
That's true. Although overall, the growth it did benefit from the. It benefit contractually, we expect the margins to be retained.
Partial answer
High priority
Will margins hold if export mix normalizes?
Asked by Nirav Shah, DC Holdings
Gave directional but no quantitative commitment.
no specific margin guidance
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Question
When this mix changes again or normalizes, we still expect the margins to hold on to the current levels?
Robbie Singh, CFO
The export margins will hold. The non-export margins will be, depending on the underlying contract and the buyer, the other margins will be different from the export margins.
Deflected
Medium priority
What are Australian operations EBITDA numbers?
Asked by Nirav Shah, DC Holdings
Did not provide number, directed to existing filings.
referred to segment resultsoffered separate call
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Question
on the Australian operations, if you can just share the EBITDA numbers for this quarter and first half?
Robbie Singh, CFO
the EBITDA numbers for commercial mining are already there in the segment results. If you can just look at it, the PBIT numbers are already there.
Answered
High priority
What is MDO production guidance for this year?
Asked by Nirav Shah, DC Holdings
Provided a specific range.
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Question
on the MDO guidance, I mean, if we can just shed any light, because on what are we expecting to do this year?
Robbie Singh, CFO
MDO, we should be, we should be closer to 35 to 37 million tons this year.
Evasive
High priority
What is the quarterly run rate potential for solar modules?
Asked by Prateek Kumar, Jefferies
Did not give a target, pivoted to hydrogen strategy.
no specific numbershifted to strategy
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Question
This quarterly run rate of solar modules can go to, like, how much? Like 1GW quarterly with the number, which is 600MW in this quarter.
Robbie Singh, CFO
That number will continue to move up in line with the utilization rate of the underlying plant. But I think the bigger thing there is that we don't want to convey a unrealistic assumption...
Declined
High priority
What are the margins in the wind segment?
Asked by Prateek Kumar, Jefferies
Refused to provide margin guidance now.
deferred to annual results
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Question
What would be the margins in this segment, margin?
Robbie Singh, CFO
No, we come to that once the sales strategy of the turbines are established... we'll update the numbers towards as part of our annual results.