Adani Enterprises Q2 preview: Revenue likely to see double-digit growth; check key details

In a stock exchange notification issued earlier this month, Adani Enterprises said that a meeting of its board of directors has been scheduled for October 29 to consider and approve the company's unaudited financial results for the quarter and half year ended September 30, 2024.

According to experts, Adani Enterprises could report a 15% to 17% year-on-year rise in Q2 revenue of ₹26,000 to ₹27,000 crore. According to Investing.com, the company’s revenue is expected to be around ₹25,741 crore. Meanwhile, EBITDA is expected around ₹4,800 to ₹4,950 crore.

Investors will keenly watch management commentary on new business growth, especially in sectors such as digital tech, data centers, and green hydrogen.

Company to consider fund-raising

Adani Enterprises board will also deliberate on a proposal to raise funds through debt securities at its meeting on October 29.

The fundraising could be conducted through private placement or public issuance of shares, either in single or multiple tranches. It is subject to regulatory and statutory approvals.

“The Board of Directors at the said meeting will also consider a proposal of fundraising by way of issuance of debt securities, by way of private placement or public issue, in one or more tranche or tranches, subject to such regulatory or statutory approvals as may be required,” Adani Enterprises said in the stock exchange notification.

Adani Enterprises Q1 results

For the previous quarter ended June 2024 (Q1FY25), Adani Enterprises’ profit more than doubled to ₹1,455 crore from ₹674 crore a year ago. The growth in profit was seen as the company’s new energy division business outweighed weakness in its key coal trading segment.

The Adani Group flagship’s revenue from operations during the quarter rose 12.4% to ₹25,472 crore. The revenue uptick was driven by strong operational performance by Adani New Industries Ltd’s ecosystem and airports.

Stock jumps ahead of results

In what could be seen as a sign of investor optimism around Q2 results, Adani Enterprises shares jumped around 5% on the NSE on Monday, October 28, a day before the earnings announcement. The rally in the stock was also aided by reports that the company is eyeing a 73% stake in ITD Cementation for nearly ₹5,759 crore.

However, despite Monday’s rally, the Adani Enterprises stock has dropped almost 4% in the past five trading sessions. The stock has corrected more than 10% in the past one month. Over the last one year, the stock has gained more than 22% compared to a 28% rise in the benchmark NIFTY50. Shares of Adani Enterprises were trading 0.16% higher at ₹2,803 apiece on the NSE at 9:15 am.