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HomeNewsBusinessEarningsAdani Enterprises Q2 Preview: Firm likely to see increase in revenue, EBITDA on back of diversified business model

Adani Enterprises Q2 Preview: Firm likely to see increase in revenue, EBITDA on back of diversified business model

Adani Enterprises has interests in coal and solar, transportation (ports and airports), natural resources, and aerospace, agriculture, food processing, and new sectors like digital tech, data centers, and green hydrogen.

October 28, 2024 / 15:11 IST
In October 2024, Adani Enterprises raised Rs 4,200 crore from institutional investors via a QIP with Quant Mutual Fund emerging as the largest investor.
     
     
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    Adani Enterprises, which is scheduled to announce its results on October 29, is expected to report a 17 percent year-on-year (YoY) increase in revenue at Rs 26,345 crore, according to Bloomberg Estimates. Meanwhile, EBITDA for the period is also expected to increase to around 4,900 crore from around Rs 2,979 crore in the corresponding quarter of the previous fiscal.

    In January 2024, Cantor Fitzgerald had initiated coverage on Adani Enterprises, with an "overweight" rating and a price target of Rs 4,368.

    In an interview with CNBC-TV18, Brett Knoblauch, Director of Equity Research, Cantor Fitzgerald said, “We appreciate the diversification it offers, investing in a single stock provides exposure to multiple innovative businesses that you might not access by investing in a company focused on just one sector.”

    In Q1, the company reported net profit of Rs 1,455 crore, growing over two-fold from Rs 674 crore in the first quarter of the previous fiscal. Revenue from operations also rose 12.5 percent year-on-year to Rs 25,472 crore.

    Adani Enterprises has interests in coal and solar, transportation (ports and airports), natural resources, and aerospace, agriculture, food processing, and new sectors like digital tech, data centers, and green hydrogen.

    Currently, only three broking firms track the company.

    In October 2024, Adani Enterprises raised Rs 4,200 crore from institutional investors via a QIP with Quant Mutual Fund emerging as the largest investor.

    Key things to watch out for are order book announcements and developments in segments like roads, airports and data centers.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Oct 28, 2024 03:11 pm

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