Adani New Industries Ltd (ANIL), the new industries business under Adani Enterprises, recorded Q1 FY 2023-24 revenue of INR 1,898 crore (around $229 million), 209% up from INR 615 crore in the corresponding period of FY 2022-23. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 7.5 times year-on-year (YoY) to INR 355 crore.
ANIL is developing an end-to-end green hydrogen eco-system spanning ingot, cell, module, wind turbine, and electrolyzer manufacturing. It has reached a solar module capacity of 4 GW and a cell capacity of 2 GW. Another 2 GW of cell line is set to become operational by September this year. It will be based on TOPCon technology.
In Q1 FY 2023-24, ANIL’s module sales (domestic and export combined) increased by 87% YoY to 614 MW. Exports surged over 19 times to 387 MW. And the business received a financial closure of INR 900 crore, from IREDA, for ingot and wafer manufacturing.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.