Adani Enterprises Limited has incorporated a wholly-owned subsidiary, Mundra Petrochem (MPL), on 19 April 2021. The latter is registered with the Registrar of Companies, Gujarat at Ahmedabad on 19 April 2021 and it is yet to commence its business operations.
Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates.
The Mundra Petrochem was incorporated with the object to set up various feedstock (coal, petcoke, coke, limestone, salts, sand, tar, oil, LPG, LNG, ethane, LPG, green fuels etc.) based refinery, petrochemical and chemical plants in a phased manner in India and to undertake all such activities associated with land acquisition, design & engineering, procurement, construction, power & infrastructure management, sale & marketing, trading, O&M, security management and other related undertakings.
AT the earning front, Adani Enterprises' consolidated net profit slipped 11.1 percent to Rs 286.60 crore on 6.1 percent rise in net sales to Rs 11,620.45 crore in Q3 December 2020 over Q3 December 2019.
On Tuesday Shares of Adani Enterprises closed at Rs.1137 as compared to the previous closing of 1,136 on the NSE.
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