Adani Enterprises Declares Jhar Mineral Resources as Subsidiary After Stake Dilution

Adani Enterprises announced, that Jhar Mineral Resources Pvt. Ltd. (JMRPL), a wholly owned subsidiary, has transitioned into a subsidiary following an equity allotment that diluted the company’s stake in JMRPL to 51%. The change marks a shift in the company’s strategic structuring, effective immediately.

Stock Performance

On December 30, 2024, Adani Enterprises share price surged 6.98%, trading at ₹2,577.45 at 3:03 PM (IST), even as the BSE benchmark Sensex dropped by 458.89 points to 78,240.18.

The stock has shown significant volatility this year, achieving a 52-week high of ₹3,743 on June 3, 2024, and a 52-week low of ₹2,030 on September 22, 2024. On December 30, the total traded volume reached 1.42 lakh shares, with a turnover of ₹61.44 crore.

At the current price, the stock trades at a price-to-earnings (P/E) ratio of 108.23x based on trailing 12-month earnings per share (EPS) of ₹23.91 and a price-to-book (P/B) ratio of 16.64, as per exchange data.

Shareholding Structure

As of September 30, 2024, the shareholding pattern in Adani Enterprises reveals that promoters hold a substantial 74.89% stake. Foreign Institutional Investors (FIIs) own 11.31%, while Domestic Institutional Investors (DIIs) hold 6.46%.

Q2 FY25 Performance

Adani Enterprises reported a robust financial performance for the September quarter (Q2 FY25). The consolidated net profit skyrocketed 664% year-on-year (YoY) to ₹1,742 crore, compared to ₹228 crore in the corresponding quarter of the previous year.

The company’s revenue from operations grew by 16% YoY, reaching ₹22,608 crore, up from ₹19,546 crore in Q2 FY24.

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