Adani Enterprises shares in focus as Adani firm eyes Rs 80,000 capex in FY25

Shares of Adani Enterprises Ltd will be in focus during the trading session on Monday as the Adani Group company intends to invest about Rs 80,000 crore across the business in the financial year 2024-25 as per a report from PTI, citing a senior executive from the company.

A bulk of capital expenditure, planned for FY25, will be in the new energy and airports businesses, said Saurabh Shah, deputy chief financial officer, at an analyst call transcript of which was released by the company, reported PTI. Adani Enterprises is the flagship firm of the Adani Group which has interests spanning from new energy to airports and data centres.

As per Shah, Adani Enterprises is looking at a capex of about Rs 80,000 crore in FY25, out of which a major part will go in Adani New Industries Ltd (ANIL) and airports business which take up about Rs 50,000 crore of capex. ANIL makes solar modules that convert sunlight into electricity and green hydrogen.

Shah said that the third largest chunk of Capex shall be allocated towards roads, amounting to Rs 12,000 crore because of Ganga Expressway and rest put together in other businesses. Of the remaining chunk, Rs 10,000 crore shall be allocated towards newly started PVC business, while the remaining would be in the data centre at about Rs 5,000 crore.

Adani Enterprises operates seven airports in the country. It is building a greenfield airport in Navi Mumbai where it hopes to start operations by the end of FY25, the official said. The Gautam Adani led conglomerate has begun commercial production of wafer and ingots used for making solar cells and modules at its factory in Gujarat, he added.

Shares of Adani Enterprises had settled at Rs 2,799.20 on Friday on BSE, rising more than 1.17 per cent for the day. The company's total market capitalization of the company stood around Rs 3.2 lakh crore, which makes it the most valued company from the Adani Group.

In the March 2024 quarter, Adani Enterprises' net profit fell 38 per cent year-on-year (YoY) to Rs 451 crore on the back of exceptional expenditure, and the rise in material costs and operating costs. The Adani Group flagship firm's revenue from operations rose 1 per cent YoY to Rs 29,180 crore. Adani Enterprises also declared a dividend of Rs 1.3 per share for FY24.