Page 29 - Adani Group

CM Naidu meets Adani Group delegation to discuss investment opportunities

Discussions covered projects with the potential to drive comprehensive growth across the state in key sectors

Increased pace of capex will help achieve targeted growth: Adani Cement CEO

The pace of capex (capital expenditure) has increased, which will help Adani Cement "achieve targeted growth ahead of time", said Adani Group Cement Business CEO Ajay Kapur in an investors' call on Monday. The Adani group, which had last week announced the acquisition of Orient Cement, aims to have a manufacturing capacity of 140 million tonnes per annum (MTPA) by FY28. "Adani Cement will benefit from accelerated growth, lower costs and good synergies, all of which will contribute to leading the market and achieving sustainable performance in the near future. The pace of capex has increased, which will help to achieve targeted growth ahead of time," said Kapur. Ambuja Cement, part of Adani Group, which houses all cement assets, is a debt-free company and as of September 2024, cash and cash equivalent for the company was at Rs 10,135 crore, said Kapur. "During H1, approximately Rs 14,700 crore has been utilised, out of which Rs 12,350 crore has been spent on organic and inorganic ..

Adani Power Q2 results: Net profit declines 50% to Rs 3,297.52 crore

Adani Power on Monday reported a 50 per cent decline in its consolidated net profit to Rs 3,297.52 crore in the September quarter compared to a year ago, mainly due to lower income as well as higher taxes. The company had posted a consolidated net profit of Rs 6,594.17 crore in the quarter ended September 2023, a BSE filing stated. The company explained that there were lower one-time revenue recognition of prior period items of Rs 1,020 crore in the first half of FY25 (April-September 2024) as compared to Rs 9,278 crore in H1 FY24, following the resolution of all major regulatory matters and realisation of outstanding dues from discoms (power distribution companies) in the previous year. It also stated that the one-time prior period revenue recognition in Q2 FY25 (July-September 2024) was Rs 598 crore, as compared to Rs 2,781 crore in Q2 FY24. The company had higher tax expenses, including deferred tax charge totalling to Rs 1,829 crore in H1 FY25, whereas H1 FY24 had recognition o

Ambuja Cements rivals UltraTech in limestone reserves via acquisitions

Gap in the two competitors' reserves is narrower than that in manufacturing capacities

Adani group's Dubai-based firm to buy ITD Cementation for Rs 3,204 cr

With this transaction at Rs 400 a share, the present promoter Italian-Thai Development Public Company will cease to be a promoter of the company and Adani group's Dubai-based firm

Bids for KSK Mahanadi Power skyrocket post Adani Group's Rs 12,500 cr offer

Adani Group's Rs 12,500 crore bid to acquire KSK Mahanadi Power has prompted other bidders to revise their offers upwards, and the final number could be much higher, according to sources. Following the implementation of the Committee of Creditors (CoC) Challenge Mechanism, lenders to the distressed power plant are now hopeful of a full recovery from the non-performing asset, an extremely rare feat in IBC proceedings. Sources within the Insolvency and Bankruptcy Code (IBC) framework have credited Adani's initial high bid of Rs 12,500 crore, which was 62 per cent or Rs 4,800 crore higher than the second bidder for reigniting interest in KSK Mahanadi. Six of the original ten bidders, including NTPC, have now submitted revised offers close to Adani's bid, demonstrating strong competition and driving up the asset's value. This reflects the IBC's emphasis on value maximisation, industry insiders noted. Adani's competitive bid, which aggregates to Rs 27,000 crore when combined with KSK ..

Demand to take hit in Q3 due to rise in price of edible oils: Adani Wilmar

After announcing its July-Sept quarter results, Angshu Mallick, MD and CEO, and Shrikant Kanhere, CFO, spoke to Sharleen D'Souza in an exclusive interview

Adani's Kutch Copper, BHP eyeing Rs 30,000 cr copper supply deal: Report

The potential supply agreement could be worth approximately Rs 30,000 crore per year, based on current market prices, which are subject to change

Adani Total Gas Q2FY25 results: Net profit jumps 7.5% to Rs 187 cr

The company, part of the ports-to-power Adani conglomerate, said its consolidated profit grew 7.5 per cent to Rs 187 crore in the three months ended Sept. 30

Adani Wilmar Q2 results: Net profit rises to Rs 311 cr on higher revenue

Edible oil firm Adani Wilmar Ltd on Thursday reported a consolidated net profit of Rs 311.02 crore for the second quarter of this fiscal year on higher income. The company had posted a net loss of Rs 130.73 crore in the year-ago period. Its total income rose to Rs 14,565.30 crore during the July-September period of this fiscal from Rs 12,331.20 crore in the year-ago period, according to a regulatory filing. Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar. Adani Wilmar sells edible oils and other food items under various brands, including Fortune.

Two units of Adani Road Transport accept bids for Rs 1,125 cr bond issue

Mancherial Repallewada Road and Suryapet Khammam Road accepted bids worth Rs 237 crore and Rs 282 crore

Adani's Ambuja to acquire 46.8% stake in Orient Cement for Rs 8,100 cr

Adani pips Ultratech, makes open offer for CK Birla firm at Rs 395.40 a share

Adani Energy gets Sebi notice for alleged misclassification of shareholding

Adani Energy Solutions also stated that there were no other pending regulatory proceedings against the company except for the two show-cause notices

Adani Energy Solutions Q2 results: Net profit jumps three-fold to Rs 773 cr

Adani Energy Solutions Ltd on Tuesday posted a nearly 3-fold jump in its consolidated net profit to Rs 773.39 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 284.09 crore in the quarter ended on September 30, 2023, according to a regulatory filing. Its total income surged to Rs 6,359.80 crore during the period under review against Rs 3,766.46 crore in the same quarter a year ago.

Key deals in India's cement sector since Adani Group's entry in 2022

A company tribunal approved Sagar Cements' $9.20 billion bid to take over Jaypee Group-owned Andhra Cements

Supreme Court upholds AERA powers in setback to GMR, Adani groups

The court has overturned the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order and listed the matter to be heard on merits

BHIVE leases over 900-seater office flex space to Nuvama at Mumbai's BKC

The deal, facilitated by real estate consultancy Colliers, consolidates Nuvama's workforce

Mahayuti govt has spent its last days bestowing gifts on Adani Group: Cong

The Congress on Tuesday claimed that the Mahayuti government in Maharashtra knows it is not coming back to power and has spent its last few days allegedly bestowing "gifts" on the Adani group at the expense of the people of Mumbai and the state. Ahead of the announcement of the Maharashtra Assembly polls schedule, Congress general secretary in-charge communications Jairam Ramesh said the instructions from the top are clear -- "the Mahayuti's electoral future is bleak, but before it loses power, it must safeguard Modani's financial future". "The ECI is expected to announce the Maharashtra Assembly Elections today at 3:30 PM. A desperate Mahayuti knowing it is not coming back to power has spent its last few days bestowing gifts to Modani at the expense of the people of Mumbai and Maharashtra," Ramesh said in a post on X. Listing the alleged favours to the conglomerate, Ramesh said, "September 15 2024: Modani wins energy contract to supply 6,600 MW power to Maharashtra at inflated ...

Adani Energy Solutions acquires 2 SPVs from PFCCL for about Rs 38 cr

Adani Energy Solutions Ltd (AESL) on Tuesday said it has acquired two project special purpose vehicles from PFC Consulting Ltd for cash consideration of about Rs 38 crore. In two separate BSE filings, AESL stated that on October 14, 2024 it executed share purchase agreements with PFC Consulting Ltd (PFCCL) for acquiring 100 per cent equity shares of Jamnagar Transmission Ltd and Navinal Transmission Ltd. PFCCL, a subsidiary of Power Finance Corporation, received a cash consideration of Rs 19,28,48,589 for JTL and Rs 19,14,40,997 for NTL. Jamnagar Transmission Ltd (JTL) is established for the development of network expansion scheme in Gujarat for drawl of about 3.6 GW load under Phase-I in Jamnagar area. Navinal Transmission Ltd (NTL) aims drawl of up to 4.5 GW load in Mundra area of Gujarat from bulk consumers/ distribution licensee and green hydrogen.

Adani Energy signs pact to operate electricity transmission lines in Kenya

Indian billionaire Gautam Adani-led conglomerate has signed a pact to build and operate key electricity transmission lines in Kenya for 30 years, the African nation's Cabinet Secretary for Energy Opiyo Wandayi said. Adani Energy Solutions Ltd signed a project agreement with the Kenya Electricity Transmission Company Ltd (Ketraco). "This agreement marks the beginning of a transformative initiative to develop, finance, construct, operate, and maintain key transmission lines and substations across Kenya," he said in a press statement. Kenya faces persistent power blackouts and the projects awarded to Adani are to upgrade the country's transmission infrastructure to ensure reliable power. "As part of this infrastructure development, the project company (AESL) will raise all the funding in the form of debt and equity that will be repaid over the 30-year period of the project agreement," he said. "The project cost, that is currently estimated at Kenyan shilling 95.68 billion (USD 736 ...