Adani Enterprises will spend around ₹67,000 crore on capital expenditure in the current fiscal year, as against the Rs 80,000 crore it had guided for at the start of the current fiscal, because of an extended monsoon period affecting project schedules. This is the second time in 2024 that the company is cutting its capital expenditure guidance.In January this year, Adani Enterprises had said that the capex for FY25 would be about Rs 92,000 crore, up from Rs 33,600 crore in FY24. It cut the guidance to ₹80,000 crore in May and reiterated it in August before the latest revision."...the reason why this particular quarter and this half of the year is slightly slower than the remainder is because, as you know, in capex heavy businesses, there's a natural cyclicality in India due to monsoons," group chief financial officer Robbie Singh told analysts on a call post its quarterly earnings announcement. Monsoon being about six-seven weeks longer than traditional this year has put the company "plus or minus six weeks in terms of the schedule", he said.The flagship company of the Adani Group has spent about Rs 15,000 crore on capex in the first half of FY25. It will spend Rs 28,000 crore in its New Industries segment, Rs 16,000 crore on the airports business and around Rs 12,000 crore on its roads business this fiscal year. It will also spend Rs 5,000 crore on the data centre business and another Rs 5,000 crore on other business, Singh said.It had a net external debt of Rs 47,208 crore as of end-September, up from Rs 38,035 crore at the end of March.
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