Corporate Dossier

ADANI Group of Companies

Contents

1. Organizational Overview

2. ADANI ENTERPRISES LTD.

3. ADANI POWER Ltd.4. MUNDRA PORT AND SPECIAL ECONOMIC ZONE

9. ADANI GAS

10. ADANI AGRI FRESH LTD11. ADANI AGRI LOGISTICS Ltd

5. ADANI PETRONET(DAHEJ) PORT PVT LTD6. ADANI LOGISTICS LTD7. ADANI MURMGAO PORT PVT LTD

8. HAZIRA PORT PVT LTD

14. ADANI TOWNSHIP & REAL ESTATE Co

15. ADANI WELSPUN EXPLORATION LTD

16. CHEMOIL ADANI PVT LTD

13. ADANI POWER MAHARASTRA LIMITED

12 . ADANI WILMAR LTD

ADANI ENTERPRISES

ADANI POWER

MUNDRAPORT

&SPECIAL

ECONOMIC ZONE

ADANI POWER

MAHARASTRA LTD.

ADANI AGRI

LOGISTICS Ltd

ADANI AGRI

FRESH LTD

ADANIGASLTD

ADANI WILMAR LTD

ADANI TOWNSHIP

& REAL ESTATE

CO

ADANI WELSPUN

EXPLORATION LTD

CHEMOILADANI PVT

LTD

ADANI PETRONET

(DAHEJ) PORT PVT

LTD.50:50

ADANI LOGISTICS

LTD(100%

SUBSIDIARY)

ADANI MURMGAO

PORT PVT LTD

HAZIRA PORT PVT LTD

Larsen & Toubro

Larsen & Toubro Limited, founded in 1938, is an Indian

multinational conglomerate company headquartered in

Mumbai, India.

It has 119 subsidiaries and 23 associates which offer

products and services like power, cement, ships,

shipbuilding, heavy engineering, refineries, construction,

electrical, financial services, defense, railway projects,

turnkey projects, etc.

In January 2011, it was reported that the company will be

restructured into nine independent virtual companies

comprising power, hydrocarbon, machinery and industrial

products, switchgear, heavy engineering, infrastructure,

building and factories, metals and minerals, and electrical

businesses.

Apr 10, 2023www.fitchratings.comwww.fitchratings.com 4

Key contacts

A M NaikChairman & MD

Y M DeosthaleeDirector & CFO

Business Structure

Apr 10, 2023www.fitchratings.comwww.fitchratings.com 5

Sectoral Presence

Apr 10, 2023www.fitchratings.comwww.fitchratings.com 6

Segment wise sales

Apr 10, 2023www.fitchratings.comwww.fitchratings.com 7

Zee Entertainment Enterprises Ltd.

Launched in 1992, it is the largest Indian media and entertainment company based in Mumbai, Maharashtra.

Subsidiary of Western media corporation Turner Group.

Previously known as Zee Telefims until 2006 when it was renamed to Zee Entertainment Enterprises Ltd.

Zee currently operates over 15 different television channels, a cable company SitiCable, a record label Zee Records, a production company and other businesses as well.

It has expanded operations abroad, with several of its channels available in the UK and U.S. as well as Africa and Asia.

Key contacts:

Mr. Subhash ChandraFounder & MD

Mr. Puneet GoenkaCEO

Mr. Hitesh VakilCFO

Apr 10, 2023www.fitchratings.comwww.fitchratings.com 9

ADANI POWER LTD.

> 100% Subsidiary of Adani Enterprises Limited

> Current Projects under implementation -16500 MW: [Mundra 4,620 MW (Gujarat) + Tiroda 1,980 MW (Maharashtra) + Tiroda 1,320 MW (Maharashtra) + Kawai 1,320 MW (Rajasthan) + Chhindwara 1,320 MW (Madhya Pradesh) + Dahej 2,640 MW (Gujarat) + Bhadreshwar 3,300 MW (Gujarat)].

> Presently, Adani Power Limited is setting up a 4620MW Mundra Thermal Power Station.

> Largest Transmission Line for Power Evacution-1000 Kms, 500 kV HVDC to transmit 2500MW

> Included in BSE 100 : No Included in BSE 500 : Yes Outstanding Ratings :

Fitch : None Care : None Icra : LBBB/Short Term A2 Crisil: Long Term BBB Opportunity : BLR / ST / LT

Remarks : Key Contacts : Prabal Banerjee (CFO) Key Financials (in INR Cr):

Total Income :855.57 Total Debt :9,749.10 Pat : 174

March 2011

MUNDRA PORT AND SPECIAL ECONOMIC ZONE Mundra Port, India’s largest private port(40 MMT in FY2010), provides cargo handling

and other value added port services. Adani Petronet (Dahej) Port Limited & Adani Logistics are part of Mundra Port & SEZ. 40 km Water Front, 8 Multipurpose Cargo berths,4 Container Berths & 2 Single point

Mooring operational. Largest coal import terminal in the world (60 MMTPA) commissioned. Developing 32,000 acres Port Multi Product Special Economic Zone.

Included in BSE 100 : No Included in BSE 500 : Yes Outstanding Ratings :

Fitch : None Care : NONE Icra : Long Term LAA/ Short TermA1+ Crisil : Long Term AA/ Short Term P1+

Opportunity : BLR / ST / LT Key Contacts : Mr. B Ravi Key Financials* (in INR Cr):

Total Income :1,560.17 Total Debt :3,157.18 Pat :700.98

* MARCH 2010

ADANI PETRONET(DAHEJ) PORT PVT LTD. Adani Petronet Port Pvt Ltd, a 50:50 joint venture between Ahmedabad based Adani

group and Petronet LNG. Mechanized Solid Cargo Port Terminal of 20 MMTPA. Comprises of 2 berths with 16mts.(Depth) Strategic location: In proximity of good Rail and Road connectivity Port open for commercial operations from August 2010. Only commercial Port to be operational in past 5 years in Gujarat

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : LBBB+ Crisil :None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Key Financials (in INR Cr):

Total Income : Not available Total Debt :Not Available Pat : Not Available

ADANI LOGISTICS LTD. 100% subsidiary of AEL. License for container train operations connecting all ports in India 6 rakes and 2 ICDs at Patli and Kishangarh operational. Involved in business of EXIM and Domestic Cargo movement including Automobile

cargo movement.

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : LBBB- (Term Loan) Crisil : None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Mr. B Ravi (CFO) Key Financials (in INR Cr):

Operating Income : 95.3 Total Debt : 371.5 Pat : 216 (loss)

* March 2010

ADANI POWER MAHARASTRA LTD.

Adani Power Maharashtra Private Limited (APMPL), a wholly-owned subsidiary of

Adani Power Limited (APL), will soon be operational on its 1,320Mw (660 X 2) thermal

power plant at Tiroda.

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : LBBB (Term Loan) Crisil :None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Mr. B Ravi (CFO) Key Financials (in INR Cr):

Total Income : Not available Total Debt :Not Available Pat : Not Available

ADANI GAS LTD.> Distributing compressed and piped natural gas in Ahmedabad, Vadodara and Faridabad.

> Procures Gas from state-owned Gujarat State Petroleum Corporation (GSPC),

> Current status: 58 CNG Stations; 90,000 households; 450 industrial and 700 commercial connections. Steel ring network of 345 Km and PE network of 2 000 km

> Future operations: Khurja, Noida, Lucknow, Jaipur, & Udaipur. NOCs received from respective State.

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : LBBB (Long Term)/A2(Short Term) Crisil :None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Mr.Dewang Desai(CFO) Key Financials (in INR Cr):

Operating Income: 261.1 Total Debt : Not available Pat : 2.1

*are Financial results for the FY2010 till December 2009

ADANI AGRI FRESH LTD. Adani Enterprises through its 100% owned subsidiary ”Adani Agri Fresh Ltd” deals in

integrated storage, handling and transportation infrastructure for fruits and vegetables in

India.

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : LBB+ (Term Loans)/A4+ Crisil :None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Mr.Dewang Desai (CFO) Key Financials (in INR Cr):

Total Income : Not available Total Debt :Not Available Pat : Not Available

ADANI AGRI LOGISTICS LTD.

Adani Agri Logistics Ltd. (100% subsidiary of AEL) was awarded the contract for

setting up two such facilities one each at Moga and Kaithal in Harayana.

Adani Agri Logistics Ltd. is responsible for development and operation of bulk food

grain handling, storage and transportation facilities under BOO arrangement for FCI.

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : LBBB+ Crisil :None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Mr.Dewang Desai (CFO) Key Financials (in INR Cr):

Operating Income : 97.79 Total Debt : 493.85 Pat: 0.23

ADANI WILMAR LTD.

A Rs. 2600 crore company; is a 50:50 joint venture incorporated in January 1999

between two corporations viz. Adani Enterprises Ltd. and The US $ 6 billion Wilmar

Holdings Pte. Ltd of Singapore - one of the World's largest trader and refiner of edible

oils.> Deals in Edible oil market has Products like Fortune (Cooking Oil), Kings, Ivory, fryola

Avsar, Jubilee, Bullet, Raag).

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : LBBB+/A2+ Crisil : None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Rajesh S.Adani. Key Financials* (in INR Cr):

Operating Income : 6109.30 Total Debt : Not Available Pat : 15.73

* FY 2010

ADANI WELSPUN EXPLORATION LTD 65:35 JV with Welspun Group of Gujarat Awarded two onshore blocks through a consortium with majority stake in Nelp VI Awarded two onshore blocks by Govt. of Thailand A block awarded at Gulf of Suez, Egypt, in partnership with GSPC (60:40) Awarded two offshore blocks in Kutch

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : CARE AA-(SO)/PR1+(SO) Icra : None Crisil :None

Opportunity : BLR / ST / LT Key Contacts : Key Financials (in INR Cr):

Total Income : Not available Total Debt :Not Available Pat : Not Available

> Awarded two onshore blocks through a consortium with majority stake in Nelp VI (Area of 75 Sq. Kmat Bharuch and Vadodara, Gujarat and area of 95 Sq. Km located at Marghreita, Assam)

> • Awarded two onshore blocks by Govt. of Thailand with total surface area of 3,975 Sq. Km and 3,947Sq. Km)

> • New off shore block located at northwestern part of the Surat depression of Mumbai Offshore Basin

> (Area: 1,191 Sq. Km)

> • A block awarded at Gulf of Suez, Egypt, in partnership with GSPC (60:40)

> • Awarded two offshore blocks in Kutchchh with a total area of 1,264 and 1,242 Sq. Kms respectively.

CHEMOIL ADANI PVT LTD

51:49 JV with Chemoil Energy Ltd of Singapore AEL has leased one floating barge, with an approximate capacity of 3,000 metric tons,

to refuel vessels.> Chemoil supplies Bunker to Ports majorly Mundra port. (Bunker is fuel for Ships)> AEL is engaged in importing petroleum products, fuel oil and gas oil.

Included in BSE 100 : No Included in BSE 500 : No Outstanding Ratings :

Fitch : None Care : None Icra : None Crisil :None

Opportunity : BLR / ST / LT Remarks : Key Contacts : Key Financials (in INR Cr):

Total Income : Not available Total Debt :Not Available Pat : Not Available

OPPURTUNITIES FOR FITCH RATINGS