Adani New Industries Ltd (ANIL), part of Adani Enterprises Ltd, sold 1,379 MW of solar modules in the first quarter of the current fiscal 2024-25, compared to sales of 614 MW in Q1 FY 2024.
Solar module exports were up by 109% to 808 MW. Domestic sales increased by 151%.
ANIL is building one of India’s most comprehensive and state-of-the-art renewable energy manufacturing ecosystem across wind, solar, electrolyzer and allied equipment at Mundra, Gujarat. Its solar manufacturing and wind turbine businesses recorded highest ever EBIDTA [earnings before interest, taxes, depreciation, and amortization] of INR 1,642 crore (more than $196 million) in Q1 FY 2025 with a 3.6x increase YoY, contributing 38% to Adani Enterprises’ total EBIDTA for the quarter.
“EBITDA margins improved on account of lower cost from TopCon cell line which became operational on 31st March 2024, and lower raw material costs. [The company] successfully operated at full capacity of 4 GW for both cell and module line,” stated Adani Enterprises Ltd.
In wind turbine manufacturing, ANIL crossed 200th blade production milestone during the quarter. It also received final type certificate for 3 MW wind turbine
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