Latest news with #AEML
Time of India
7 days ago
- Business
- Time of India
S&P revises outlook on Adani entities citing strong operations, steady funding
S&P Global Ratings has revised its outlook on three Adani Group entities-Adani Electricity Mumbai. (AEML), Adani Ports and Special Economic Zone (APSEZ), and Adani Green Energy Restricted Group 2-on the back of sustained operational strength and continued access to funding despite regulatory overhangs. Following its latest review, the agency affirmed the credit ratings of the three entities while revising their outlooks to reflect improved fundamentals. AEML and Adani Green Group 2 saw their outlooks move to 'Stable' from 'Negative', while APSEZ was upgraded to 'Positive' from 'Negative'. The current ratings stand at 'BBB-' for AEML and APSEZ, and 'BB+' for Adani Green Energy Restricted Group 2. In November last year, S&P had revised the outlook for the same firms to 'Negative', shortly after the US Department of Justice filed corruption charges against Adani Group chairman Gautam Adani and others. While those charges remain under investigation, S&P noted that there is currently no evidence of material impact on the group's funding access or operational performance. "We haven't seen any indications that the group companies' funding access or costs have been materially hit by the SEC indictment," the agency said. "Key concessions and power purchase agreements remain intact, and the Adani entities continue to receive approvals across different businesses." According to S&P, the group has secured over $10 billion in fresh debt in the past six months across Adani Ports, Adani Green Energy, Adani Enterprises Ltd. and Adani Energy Solutions Ltd. This funding constitutes a sizable portion of the around $30 billion debt across group entities as of March 31, 2025, the agency said. "The terms of the debt are not more onerous and don't have specific reference to the outcome of the SEC case," the agency noted, adding that domestic and international banks, Indian financial institutions, and private credit investors continue to lend to the group. The Adani family also injected $1.1 billion into Adani Green Energy in July.
Economic Times
7 days ago
- Business
- Economic Times
S&P upgrades its outlook on three Adani Group companies
Mumbai: S&P Global Ratings has revised its outlook on three Adani Group entities-Adani Electricity Mumbai. (AEML), Adani Ports and Special Economic Zone (APSEZ), and Adani Green Energy Restricted Group 2-on the back of sustained operational strength and continued access to funding despite regulatory overhangs. ADVERTISEMENT Following its latest review, the agency affirmed the credit ratings of the three entities while revising their outlooks to reflect improved fundamentals. AEML and Adani Green Group 2 saw their outlooks move to 'Stable' from 'Negative', while APSEZ was upgraded to 'Positive' from 'Negative'. The current ratings stand at 'BBB-' for AEML and APSEZ, and 'BB+' for Adani Green Energy Restricted Group 2. In November last year, S&P had revised the outlook for the same firms to 'Negative', shortly after the U.S. Department of Justice filed corruption charges against Adani Group chairman Gautam Adani and others. While those charges remain under investigation, S&P noted that there is currently no evidence of material impact on the group's funding access or operational performance."We haven't seen any indications that the group companies' funding access or costs have been materially hit by the SEC indictment," the agency said. "Key concessions and power purchase agreements remain intact, and the Adani entities continue to receive approvals across different businesses."According to S&P, the group has secured over $10 billion in fresh debt in the past six months across Adani Ports, Adani Green Energy, Adani Enterprises Ltd. and Adani Energy Solutions Ltd. This funding constitutes a sizable portion of the around $30 billion debt across group entities as of March 31, 2025, the agency said. ADVERTISEMENT "The terms of the debt are not more onerous and don't have specific reference to the outcome of the SEC case," the agency noted, adding that domestic and international banks, Indian financial institutions, and private credit investors continue to lend to the group. The Adani family also injected $1.1 billion into Adani Green Energy in July. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
7 days ago
- Business
- Time of India
S&P upgrades its outlook on three Adani Group companies
Mumbai: S&P Global Ratings has revised its outlook on three Adani Group entities-Adani Electricity Mumbai. (AEML), Adani Ports and Special Economic Zone (APSEZ), and Adani Green Energy Restricted Group 2-on the back of sustained operational strength and continued access to funding despite regulatory overhangs. Following its latest review, the agency affirmed the credit ratings of the three entities while revising their outlooks to reflect improved fundamentals. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program AEML and Adani Green Group 2 saw their outlooks move to 'Stable' from 'Negative', while APSEZ was upgraded to 'Positive' from 'Negative'. The current ratings stand at 'BBB-' for AEML and APSEZ, and 'BB+' for Adani Green Energy Restricted Group 2. In November last year, S&P had revised the outlook for the same firms to 'Negative', shortly after the U.S. Department of Justice filed corruption charges against Adani Group chairman Gautam Adani and others. While those charges remain under investigation, S&P noted that there is currently no evidence of material impact on the group's funding access or operational performance. "We haven't seen any indications that the group companies' funding access or costs have been materially hit by the SEC indictment," the agency said. "Key concessions and power purchase agreements remain intact, and the Adani entities continue to receive approvals across different businesses." Live Events According to S&P, the group has secured over $10 billion in fresh debt in the past six months across Adani Ports, Adani Green Energy, Adani Enterprises Ltd. and Adani Energy Solutions Ltd. This funding constitutes a sizable portion of the around $30 billion debt across group entities as of March 31, 2025, the agency said. "The terms of the debt are not more onerous and don't have specific reference to the outcome of the SEC case," the agency noted, adding that domestic and international banks, Indian financial institutions, and private credit investors continue to lend to the group. The Adani family also injected $1.1 billion into Adani Green Energy in July.
NDTV
24-04-2025
- Business
- NDTV
Adani Energy Solutions Registers Record Performance, Net Profit Up 103%
Ahmedabad: Adani Energy Solutions has ended January-March quarter and the entire financial year 2024-25 record high. The January-March quarter profit after tax rose 87 per cent to Rs 714 crore, as per a company statement. In the entire financial year 2024-25, the profit after tax was at Rs 2,427 crore, excluding exceptional item of Rs 1506 crore. The net profit was up 103 per cent on a yearly basis, the company statement said. 2024-25 was a momentous year for the Adani Group company with solid operating and financial performance. With its strong order book of Rs 59,936 crore in transmission, rising opportunities in distribution business and ramp-up in smart metering business, the company said it not only consolidated its position but is also fully geared up to deliver strong performance in all lines of businesses. With a robust growth of 42 per cent year-on-year in total income of Rs 24,447 crore in 2024-25, which is highest ever is driven by the contributions from the recently commissioned transmission projects, robust energy sales in Mumbai and Mundra utilities and contribution from the smart metering business. Profit after tax witnessed a sharp increase of 103 per cent year-on-year to an all-time high of Rs 2,427 crore, resulting from higher EBITDA, and aided by reversal of net deferred tax liability of Rs 469 crore in full year, primarily due to divestment of Dahanu plant in AEML and regulatory income of Rs 148 crore. The company secured two new transmission projects - Navinal (Mundra) Phase I Part B1 and Mahan Transmission Ltd in Q4, thereby taking the new wins in 2024-25 to seven projects with a total project cost of Rs 43,990 crore and cumulative orderbook to Rs 59,936 crore. The capital expenditure in 2024-25 has increased by 2x to Rs 11,444 crore, as against Rs 5,613 crore in 2023-24. Adani Energy Solutions Limited, part of the globally diversified Adani portfolio and the largest private transmission and distribution company in India with a large smart metering portfolio, today announced its financial and operational performance for the quarter and year ended March 31, 2025. "AESL delivered strong operating and financial performance in FY25 backed by its distinguished ability to execute the complex projects, compete and outperform peers in the project bids and remain financially prudent at the same time. As we embark on the next fiscal year, the company remains focused on incremental project commissioning, significantly increase the meter installation as well as achieving operating efficiencies in all lines of businesses. The integrated business model and underlying power demand trends in our areas of operation are encouraging and complements our capital allocation policy. We are confident that the growth opportunity visible across all our business segments will help us further consolidate our market position. In terms of our ESG pursuit, we remain committed to sustainable business practices and continue to achieve feats," said Kandarp Patel, CEO, Adani Energy Solutions. AESL, part of the Adani portfolio, is into power transmission, distribution, smart metering, and cooling solutions. AESL is the country's largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of 26,696 ckm and 90,236 MVA transformation capacity.
