Utilities company Adani Transmission announced Q3FY22 results: 9MFY22: Consolidated Revenue at Rs. 7,602 crore. increased by 15.8% Consolidated EBITDA at Rs. 4,111 crore. grew 5.7% Consolidated Operational EBITDA at Rs. 3,433 crore vs. Rs. 3,196 crore in 9MFY21, up 7.4% Transmission Operational EBITDA at Rs. 2,195 crore, up 14.5% and Distribution Operational EBITDA at Rs. 1,239 crore PBT at Rs. 1,338, up 7.1%; PAT at Rs. 999 crore Cash Profit of Rs. 2,276 crore Q3FY22: Consolidated Cash Profit of Rs. 714 crore; up 2.2% YoY Transmission: Operational EBITDA at Rs. 762 crore up 17.2% and PAT at Rs. 239 crore. up 23.7% supported by strong revenue growth Distribution: Operational EBITDA of Rs. 406 crore down 14.6% and PAT of Rs. 38 crore down 86%. Q3FY22 PAT not comparable yoy on account of Rs. 62 crore reversal of earlier interim power purchase bill, one-time deferred tax assets creation of Rs. 129 crore and forex MTM gain of Rs. 40 crore in Q3FY21 Mr. Anil Sardana, MD & CEO, Adani Transmission Ltd said “Adani Transmission is constantly evolving and becoming a significant player in T&D; sector. Further, we added MUL – the distribution business at Mundra SEZ with good opportunity to grow into a formidable distribution company. ATL’s robust growth pipeline and recently operationalised projects will further strengthen its pan-India presence and consolidate its position as the largest private sector transmission company in India. ATL is consistently benchmarking to be the best-in-class utility and is pursuing disciplined growth with strategic and operational derisking, capital conservation, ensuring high credit quality and business excellence with high governance standards. The journey towards a robust ESG framework and practicing a culture of safety is integral to its pursuit of enhanced long-term value creation for all stakeholders.” Result PDF
Highlights: Adani Transmission raises USD 700 Mn With this senior debt facility, contracted with eight international banks, ATL will finance its under-construction transmission network portfolio Manifests ATL’s overall Capital Management Plan and brings it closer to its goal of 20,000 ckt km of transmission lines by 2022 The unique capex revolving structure of the facility provides funding of USD 1.1 Bn on fully drawn basis Reinforces ATL’s strategy to deepen the overall liquidity pool through international banking market in addition to existing domestic as well as global public and private debt capital market issuances This deal fully finances the under-construction transmission projects in four SPVs in Gujarat and Maharashtra to establish green corridor and strengthen the overall grid The facility follows highest level of due diligence standards covering all standard ESG aspects “This project financing deal is the first of its kind sanctioned by international banks in the transmission sector, and validates the overall development model of the Adani Group,” said Mr. Anil Sardana, MD and CEO, ATL. “All the Adani Group companies have aligned their investment plans to honour the nation’s commitment on climate change. ATL is at the forefront of grid stability and providing sustainable, reliable and affordable energy solutions. Our development agenda is coupled with overall capital stewardship maintained through our capital management philosophy focused on equitable growth.” Result PDF