Adani Transmission Ltd’s Consolidated PAT Rose by 299% to Rs.124 cr. in Q1FY17 Compared to Q1FY16 and Consolidated

Editor’SSynopsis

• Tariff & Incentive Income increased to Rs. 609** crore in Q1FY17 from Rs. 468 crore in Q1FY16

• Operational EBIDTA margin has remained steady at 94% with network availability ranging from 99.40% to 99.99%

• Transmission network set to increase to 7300 Ckt kms in next 3 years

• Rated Investment Grade (BBB-/Baa3) with Stable outlook

• Adani Transmission successfully concluded two capital market fund raising programmes - USD Bond with overwhelming responses from global investors across Asia, USA, London and rupee denominated INR Offshore bond (Masala Bond).

• Provision of Rs. 33.84 Crs. of deferred tax liability (non-cash item) is made in this quarter as per the IND AS requirement.

Includes net income of Rs. 116.18 crore on account of effect of CERC and MERC orders. The company has preferred review/appeal against the order. The effect on PAT is Rs 91.39 crores.

Adani Transmission Ltd., part of the Adani Group, today announced its results for first Quarter ended June 30, 2016.

Financial Highlights:

(Clarification note: All Figures are in accordance with the applicable Ind-AS)

• The overall Financial Performance was robust.

• The Consolidated Total Income is Rs 638 crore in Q1FY17 as compared to total income of Rs. 470 crore in Q1FY16.

• Consolidated EBIDTA rose by 32 % to Rs 584 crore in Q1FY17 as compared to Rs. 441 crore in Q1FY16.

• The consolidated PAT is Rs 124 crore in Q1FY17 as compared to Rs. 31 crore in Q1FY16.

• CERC has issued final order effective 01.10.2013 for Mundra-Mohindergarh & Mundra-Dehgam Lines, granting approval of capital cost claimed. MERC has also issued provisional order for Tiroda-Warora and Tiroda-Aurangabad Lines. The effect of recognition of revised tariff including arrears of Rs. 116.18 Crs. is accounted for in this quarter. The effect on PAT is Rs 91.39 crores.

Company will start recovery of its unbilled revenue in 12 instalments starting Aug 2016 as MERC has passed Intra-state Transmission System (InSTS) orders for Tiroda-Aurangabad Line.

Adani Transmission Ltd. is the largest power transmission company operating in the private sector in India and owns, operate and maintain around 5,000 Ckt Kms of transmission lines ranging from 400 KV to 765 KV, with a total transformation capacity of more than 12,000 MVA. With completion of all ongoing projects and completion ongoing acquisition, the network is expected to increase from around 5000 Ckt Kms to 7300 Ckt Kms & will remain a bellwether as far as private transmission in India is concerned.

Speaking on the financial performance of the company Mr. Gautam Adani, Chairman Adani Group, said, “While the business continues to perform strongly we have continued to achieve more than 93% of operational EBIDTA margin for the quarter ended June FY17. Our focus on harnessing state-of art technology has resulted in high network availability of over 99.40% to 99.99%. Adani Transmission continues to maintain its leadership position in the country and is poised to keep growing, leveraging benefits of new opportunities and thus creating value for its stake holders.”

About The Adani Group

The Adani Group is one of India’s leading business houses with revenue of over $10 billion.

Founded in 1988, Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals - resources, logistics, energy and agro. The Group’s integrated model is well adapted to the infrastructure challenges of operating in emerging economies.

Adani Group’s growth and vision has always been aligned with the idea of nation building. We live in the communities in which we operate and so take seriously our responsibility towards contributing to the betterment of society. At Adani, we believe in delivering benefits that transcend our immediate stakeholders. Through our Adani Foundation, we ensure development and progress is sustainable and inclusive - for the people living in these communities as well as the wider environment.

Resources covers Coal mining and trading; in the future this business will also include oil and gas production.

Adani is developing and operating coal mines in India, Indonesia and Australia as well as importing and trading coal from many other countries. Currently, we are the largest coal importer in India. We also have extensive interests in oil and gas exploration. Our extractive capacity has increased three fold to 11 MMT in 2015-16 and we aim to extract 200 MMT per annum by 2020, making Adani one of the largest mining groups in the world.

Logistics describes our large network of Ports, Special Economic Zone (SEZ) and Multi-Modal Logistics - Railways and Ships.

Adani owns and operates eight ports and terminals in India. These are at Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Orissa, Mormugao in Goa, Visakhapatnam in Andhra Pradesh and Katupalli in Chennai. Mundra Port, which is the largest port in India, benefits from a deep draft, first-class infrastructure and SEZ status. Cargo volumes touched 152 MMT mark  in 2015-16. Adani is developing a terminal at Ennore in Tamil Nadu and Vizhinjam

Energy involves power generation, transmission and gas distribution.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 MW. Our four power projects are spread across the states of Gujarat, Maharashtra, Karnataka and Rajasthan.

Adani Transmission is one of the largest domestic private sector transmission companies with over 7,000 circuit kilometers of transmission lines across western, northern and central regions of India.

We also provide a range of reliable and environmentally friendly energy, in the form of CNG and PNG. Adani Power’s installed capacity includes a 40 MW solar plant at Bitta, Gujarat, and has completed setting up a 648 MW solar power project at Ramanathapuram district in the southern state of Tamil Nadu. The company has also recently signed a joint-venture agreement with the state government of Rajasthan to develop India’s largest solar park with a 10,000 MW capacity.

Agro is a long established part of the Group and includes activities to modernize farming and enhance food security through three main verticals - Adani Wilmar Limited (AWL), Adani Agri Logistics Limited (AALL) and Adani Agri Fresh Limited (AAFL)

Adani Wilmar is the sixth largest food company in India with its flagship brand, Fortune, the number one edible oil brand in India. With a superior product range including edible oil, Basmati rice, pulses, soya chunks and besan, AWL delivers products that contribute towards a healthier India.

Adani Agri Logistics is proud to have established India’s first integrated bulk handling, storage and logistics system for food grains. It provides a seamless full-service bulk supply chain to the government owned Food Corporation of India. With modern silos and rail terminals in major cities, Adani is improving the future of food security in India.

Additionally, with ‘Farm-Pik’, AAFL has instituted the largest and most modern integrated apple supply chain initiative in India, delivering fresh farm products to its consumers while improving the livelihood of millions of farmers.