Latest news with #AdaniEnergySolutions
Time of India
2 days ago
- Business
- Time of India
Envestcom Holding RSC fund sells 1.83% stake in Adani Energy Sol for ₹1,737 cr
New Delhi: A fund on Wednesday divested a 1.83 per cent stake in Adani Energy Solutions for ₹1,737 crore through open market transactions. Envestcom Holding RSC Ltd offloaded nearly 2.2 crore equity shares , representing a 1.83 per cent stake in Adani Energy Solutions Ltd (AESL), as per the bulk deal data available on the BSE and NSE. The shares were sold at an average price of ₹790 apiece, taking the combined deal value to ₹1,736.73 crore. After the stake sale , Envestcom Holding's shareholding in AESL has come down to 0.85 per cent from 2.68 per cent. Details of the buyers of Adani Energy Solutions' shares could not be ascertained on the exchanges. Shares of Adani Energy Solutions fell 1.46 per cent to close at ₹790.65 on the BSE, while it went lower by 0.89 per cent to settle at ₹794.95 apiece on the NSE. PTI
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Business Standard
2 days ago
- Business
- Business Standard
Adani Group stocks trade weak; Adani Green, Power, Enterprises down upto 3%
Adani Group stocks in focus: Shares of Adani Group companies were under pressure, falling by up to 3 per cent on the BSE in Thursday's intra-day trade due to overall weakness in the equity market. Indian equity indices were trading lower on Thursday after US President Donald Trump imposed an additional 25 per cent tariff on Indian exports to the US, citing New Delhi's continued purchases of Russian crude oil. Adani Green Energy, Adani Ports and Special Economic Zone, Adani Enterprises, Adani Power, ACC and Adani Energy Solutions were down in the range of 1 per cent to 3 per cent on the BSE in intra-day trade. By comparison, the BSE Sensex was down 0.61 per cent at 80,050 at 11:10 AM. CATCH STOCK MARKET LIVE UPDATES TODAY In the past one month, these stocks have underperformed the market by falling between 6 per cent and 12 per cent, as against 4 per cent decline in the benchmark index. Among the individual stocks, Adani Enterprises has slipped 2.6 per cent to ₹2,240.20 in intra-day trade today. The stock price of Adani Group flagship company is quoting at its lowest level since May 9, 2025. In the past month, the stock has corrected 12 per cent. For April to June 2025 quarter (Q1FY26), Adani Enterprises reported a 50 per cent year-on-year (Y-o-Y) decline in its consolidated profit after tax at ₹734 crore, against ₹1,458 crore in Q1FY25. Consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) down 12 per cent Y-o-Y to ₹3,786 crore. Total income decreased 14 per cent Y-o-Y at ₹22,437 crore. However, the company's Ebitda from incubating businesses has increased by 5 per cent to ₹2,800 crore on Y-o-Y basis and contributes 74 per cent to Q1FY26 results. Adani Enterprises said the company shall witness operationalization of the large infra assets during this fiscal year reflecting its project execution capabilities, which should result in Ebitda unlock and long-term value creation. This performance has been led by the company's Airports business, which delivered an exceptional 61 per cent Y-o-Y growth in Ebitda. Meanwhile, global economic growth is expected to moderate from 3.3 per cent in 2024 to 2.8 per cent in 2025, before recovering to 3 per cent in 2026. The combined effects of new trade restrictions, their spillover through global trade linkages, and rising uncertainty may dampen business sentiment and pace of economic recovery. Financial market volatility has raised concerns about extreme vulnerabilities, particularly in countries grappling with persistent inflation and signs of economic slowdown, Adani Enterprises said in its FY25 annual report. Meanwhile, shares of Adani Energy Solutions were down 2 per cent to ₹778.25 on the BSE in intra-day trade. In the past two trading days, the stock declined 3 per cent as Abu Dhabi-based Envestcom Holding RSC Ltd offloaded 22 million shares of Adani Energy Solutions on Wednesday, via open market, according to bulk deal data from the exchanges. While 11 million shares were sold on the NSE, the remaining 10.98 million shares were offloaded on the BSE at an average price of ₹790 per share, data shows. The names of buyers are not ascertained immediately. As of June 2025, Envestcom held 32.18 million shares or 2.68 per cent stake in Adani Energy Solutions, the shareholding pattern data shows. Meanwhile, shares of Adani Power has moved higher by 2 per cent to Rs 565.80 from its intra-day low after the company said it will set up a 2,400 MW ultra-supercritical power plant at Village Pirpainti in Bhagalpur district of Bihar at an investment of up to $3 billion and supply the entire net capacity of 2,274 MW to Bihar Utilities. Adani Power said the company has received a Letter of Intent (LoI) from Bihar State Power Generation Company (BSPGCL) to supply 2,274 MW power to North Bihar Power Distribution Company (NBPDCL) and South Bihar Power Distribution Company (SBPDCL) from a 2,400 MW thermal power project to be developed at Pirpainti in Bhagalpur District of Bihar.
Time of India
3 days ago
- Business
- Time of India
Envestcom sells 1.8% in Adani Energy Solutions
Mumbai: Envestcom Holding RSC on Wednesday sold a total of 22 million shares, or 1.83% in Adani Energy Solutions through bulk deals on the NSE and BSE . These shares were sold at ₹790 a share, taking the combined deal value to ₹1,736.73 crore. Envestcom held a 2.68% stake in the company at the end of June, data from the latest shareholding pattern showed. After the stake sale, their shareholding in AESL has come down to 0.85%. On Wednesday, shares of Adani Energy Solutions ended at ₹790.65 on the BSE, down 1.5% from the previous close. 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 by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dog licks arent kisses. Heres what your dog really means when it licks you. Cleverst Undo
Mint
30-07-2025
- Business
- Mint
Three big names are riding high on non-operating income. Should that worry you?
Indian companies are expected to report modest 4-6% year-on-year revenue growth in the current earnings season. Compared to the7% growth reported in the last two quarters, persistent geopolitical conflicts and an early onset of monsoon are likely to have weighed on growth, according to a Crisil report. Of course, some companies are likely to beat the trend. But it will be important to separate the wheat from the chaff. Not all revenue growth or profit expansion should be considered cues to buy. Some businesses could appear promising on the outside, but a deeper look would raise eyebrows. Specifically, investors could keep an eye out for growth in operating revenues and profits, while growth driven by one-off or exceptional items should deserve a relook. In this article, we shall look at three such businesses, where other income has painted a picture that's prettier than real. Adani Energy Solutions' devil in the details Adani Energy Solutions has been in the news recently for a turnaround in its profitability. The transmission and distribution company went from reporting a loss of ₹1,191 crore in Q1FY25 to a profit of ₹539 crore in Q1FY26. But the loss reported in the base quarter was due to a one-off line item: The company's Dahanu power plant was carved out during the quarter, and that had resulted in an exceptional loss amounting to ₹1,500 crore. With no such exceptional item dragging down profits this quarter, the company appears to have turned around. Sequential numbers reveal a 30% degrowth in the bottom line. Moreover, even the relatively modest 28% year-on-year growth reported in the top line is not without caveats. The company clocked ₹7,026 crore in revenues during the quarter, a jump of ₹1,536 crore over the same quarter a year ago. But this is largely due to an acceleration in SCA (Service Concession Arrangement) income from ₹572 crore to ₹1,924 crore during the period. SCA is essentially capital expenditure incurred by the company towards under-construction assets under the BOOT (build-own-operate-transfer) framework in its transmission and smart-metering businesses. In accordance with Ind AS 115, such assets are recognized as contracted or financial assets rather than featuring under gross block or PPE (property, plant, and equipment) in the balance sheet. Accordingly, the capex incurred on such projects flows into the top line as 'Revenue under SCA', and also into the expenses as 'construction expenses related to SCA'. Result? The top line shows growth, but profits don't. Also, 'total' financial metrics appear inflated compared to operational metrics. The Eternal PAT mirage There is no doubt that Eternal Ltd (formerly Zomato Ltd) is at the forefront of India's food and quick-commerce space. The company started in food delivery with Zomato and has been growing the business profitably for several quarters now. Blinkit has been thriving despite the recent rush of large players into India's fast-growing quick-commerce industry. Its net order value (NOV) finally surpassed that of Zomato in Q1FY26. There's still some way to go before the business turns Ebitda-profitable, but the losses have been shrinking. Ebitda is short for earnings before interest, taxes, depreciation, and amortization. Eternal's buisness-to-business (B2B) vertical, Hyperpure, has grown to about the same size as Zomato and Blinkit. The company has also been making large strides in the going-out business with District. It is currently a fifth of the size of Eternal's food delivery/quick-commerce businesses, and is not profitable yet. But the management expects to scale it to $3 billion in annual NOV with $150 million Ebitda over the next five years. Other businesses Eternal has invested in recently include Bistro, Nugget, and Greening India. They added about ₹45 crore in Ebitda losses during Q1. In fact, all of Eternal's businesses except food delivery are Ebitda-negative. But quarter after quarter, the company has managed to clock positive profit after tax (PAT). How? The answer should make investors take a pause. Eternal has been posting ₹200-400 crore as 'other income' every quarter. A closer look indicates that this is treasury income, which the company earns on funds parked in investment instruments. Its cash balance has expanded from ₹12,500 crore in Q1FY25 to almost ₹19,000 crore in the latest reported quarter. With that, its 'other income' has increased as well, thus helping the company report positive PAT. In other words, Eternal is profitable primarily due to money earned on money raised. While the company is Ebitda-profitable, bottom-line profitability (excluding treasury income) has proved more elusive. Of course, in anticipation of eventual profitability, its stock has grown fivefold in less than three years. L&T's low interest boost Larsen & Toubro is the flagbearer of India's infrastructure growth story. As the government amped up its capex spending to capitalize on its multiplier effect on gross domestic product (GDP) growth, L&T's order book expanded in tandem. The company has also bagged international orders, which constitute more than half of its order book. The momentum kept up in Q1FY26. L&T reported 33% year-on-year growth in its order inflows, which took its order book up by 25% to more than ₹6 trillion. Of course, execution has been slower with the top line registering a mellower 16% growth over the same quarter last year. Notwithstanding, the company reported a 30% on-year increase in PAT during the quarter. If profitability had expanded on the back of higher operational efficiencies, that would have been good news. But for L&T, Ebitda margin witnessed a contraction during the period—from 10.2% to 9.9%. Ebitda grew by just 13%. Then how did PAT outpace Ebitda? Interest costs compressed by 9% year-on-year due to lower interest rates and average borrowing levels, and that helped. But a bulk of the PAT growth came from other income. The company's cash balance shrunk over the period, but its treasury yields improved. This resulted in treasury income of ₹13.6 crore during the quarter, a massive 47% increase over the base quarter. Half of L&T's PAT expansion seen during the period came from other income. Rounding it up It is not wrong by any means to benefit from cash lying idle. But when treasury income becomes the difference between profit and loss for a company, as seen in the case of Eternal, investors should be wary of consuming headline numbers at face value. Of course, Eternal's market dominance, high growth, and comfortable cash position could be worth betting on. But as things stand today, it would be a stretch to consider it profitable at the PAT level. Similarly, with L&T, the massive order book and top-line growth at 16% promise potential. But drawing any inferences from the 30% PAT growth would be misleading. For others like Adani Energy, accounting standards could result in many layers obscuring the true picture. For more such analysis, read Profit Pulse. One-off items on the income statement are neither representative of the true state of the business nor repeatable. As cash dries up on the books, so would treasury income. Such income is also critically dependent on market conditions. Given their fickle nature, extrapolating them into the future could lead to subpar investing decisions. Ananya Roy is the founder of Credibull Capital, a Sebi-registered investment adviser. X: @ananyaroycfa Disclosure: The author holds shares of some of the companies discussed. The views expressed are for informational purposes only and should not be considered investment advice. Readers are encouraged to conduct their own research and consult a financial professional before making any investment decisions.
Business Standard
24-07-2025
- Business
- Business Standard
Adani Energy Solutions reports consolidated net profit of Rs 512.48 crore in the June 2025 quarter
Sales rise 26.79% to Rs 6819.28 crore Net profit of Adani Energy Solutions reported to Rs 512.48 crore in the quarter ended June 2025 as against net loss of Rs 823.92 crore during the previous quarter ended June 2024. Sales rose 26.79% to Rs 6819.28 crore in the quarter ended June 2025 as against Rs 5378.55 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 6819.285378.55 27 OPM % 26.5530.69 - PBDT 1122.87951.17 18 PBT 658.05453.32 45 NP 512.48-823.92 LP
