Adani Enterprises subsidiary gains control of Alpha Design
Adani Enterprises’ wholly-owned subsidiary Adani Defence Systems and Technologies has acquired the control of Alpha Design Technologies. Alpha Design Tech provides Adani Defence and Aerospace a strong Tier I capability for building a base for graduating to platform capabilities.
Alpha Design Technologies is engaged in the design, development and manufacture of defence electronics and avionics. The company’s key business areas includes defence electronics, avionics, aero-structure assemblies, space and satellite systems, simulators etc. The company’s key customers include globally OEM’s, DPSU’s and Research Establishment (DRDO, etc.), Indian Armed Forces, ISRO etc.
In Q3FY19, Adani Enterprises consolidated net sales stood at Rs. 10,429.67 crore in December 2018, up 4.94 per cent from Rs. 9,938.37 crore in December 2017. The company reported a quarterly net profit of Rs. 92.25 crore in December 2018, down 67.85 per cent from Rs. 286.97 crore in December 2017. The company’s EBITDA stood at Rs. 561.54 crore in December 2018, down 46.44% from Rs. 1,048.35 crore in December 2017.
On Monday, Adani Enterprises was trading at Rs. 136.5 per share, 1.52 per cent on BSE.