Adani Enterprises incorporates arm for coal washing business

Adani Enterprises' third quarter net profit plunged 44 percent to Rs 196 crore, compared to the year-ago period, on lower income.
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Feb 27, 2016, 03.25 PM | Source: PTI

Adani Enterprises incorporates arm for coal washing business

Adani Enterprises' third quarter net profit plunged 44 percent to Rs 196 crore, compared to the year-ago period, on lower income.

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Adani Enterprises incorporates arm for coal washing business

Adani Enterprises' third quarter net profit plunged 44 percent to Rs 196 crore, compared to the year-ago period, on lower income.

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Adani Enterprises incorporates arm for coal washing business
Adani Enterprises , the flagship firm of the Adani Group, has incorporated subsidiary Korba Clean Coal Pvt Ltd for carrying on the business of coal washing.

"We would like to inform you that the company has incorporated a wholly-owned subsidiary namely 'Korba Clean Coal Pvt Ltd (KCCPL) on February 26, 2016," Adani Enterprises said in a filing to BSE today.

KCCPL is incorporated in India and is yet to commence its business operations, the company said.

Adani Enterprises' third quarter net profit plunged 44 percent to Rs 196 crore, compared to the year-ago period, on lower income.

The company had earlier said that it has extracted and supplied washed coal totalling 3.7 million tonnes (MT) to RRVUNL during the nine months of the current fiscal compared with 2.1 MT in April-December period of the previous fiscal.

The company said it is ramping up coal production and is well placed to tap the growth opportunities in domestic coal mining space.

Adani Enterpris stock price

On May 27, 2016, Adani Enterprises closed at Rs 73.45, down Rs 0.65, or 0.88 percent. The 52-week high of the share was Rs 803.90 and the 52-week low was Rs 58.45.


The company's trailing 12-month (TTM) EPS was at Rs 4.51 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 16.29. The latest book value of the company is Rs 97.97 per share. At current value, the price-to-book value of the company is 0.75.

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Adani Enterprises incorporates arm for coal washing business

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