Adani Enterprises stock in focus after it expands duty free retail presence in France
Adani Enterprises stock in focus after it expands duty free retail presence in France
Adani Enterprises Limited, through its subsidiary Mumbai Travel Retail (MTRPL), is set to expand its international duty-free retail footprint. The company, which already operates 17 duty-free stores across India, is now venturing into the European market through a strategic joint venture.
Share Price Movement
The share price of Adani Enterprises went down by 0.75 percent to Rs. 2,848.4 per share on Wednesday, a decrease from its previous close of Rs. 2,870 per share. The market capitalisation now stands at approximately Rs. 3,28,756 crore as of November 13, 2024.
What Happened
According to this regulatory filing dated November 12, 2024, Mumbai Travel Retail (a step-down subsidiary of Adani Enterprises) through its unit Ospree International FZCO is forming a new joint venture with Eurotunnel JV INC (part of Falic Group-Duty Free Americas) to establish a duty-free retail business in France. The new company will be incorporated in the UAE under Jafza regulations with AED 100,000 in capital, split in a 51:49 ownership ratio between Ospree and ETJV, respectively. The venture will be governed by a 4-member board with equal representation from both partners, requiring unanimous decisions.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Adani Enterprise’s consolidated revenue from operations has increased by 15.6 percent YOY from Rs. 19,546 crore in Q2 FY24 to Rs. 22,608 crore in Q2 FY25 and decreased by 11.2 percent QoQ from Rs. 25,472 crore in Q4 FY24.
The company’s consolidated net profit has increased by 497 percent, from Rs. 333 crore in Q2 FY24 to Rs. 1,989 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 12.2 percent QoQ from Rs. 1,772 crore.
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Relationship between Adani Enterprises and Ospree International FZCO
Adani Enterprises Limited is the parent company that controls Mumbai Travel Retail Private Limited (MTRPL) as its step-down subsidiary, which in turn fully owns Ospree International FZCO. This corporate structure means Ospree effectively functions as the duty-free retail arm of Adani’s business interests, operating under the larger Adani umbrella. Through this arrangement, Adani maintains strategic control over its retail operations while Ospree handles the specific duty-free retail business, as evidenced in the recent joint venture where Ospree is partnering with Eurotunnel JV INC to establish new duty-free operations in France with a 51% controlling stake.
Shareholding Pattern
As of the November 2024 shareholding pattern, Adani Enterprises Limited is primarily held by the promotors at 74.89 percent, foreign institutional investors hold 11.31 percent, and the public with 7.36 percent.
About Company
Adani Enterprises Limited (AEL), established in 1993, is the flagship company of the Adani Group. Based in Ahmedabad, Gujarat, the company has transformed into a prominent Indian multinational conglomerate, operating across various industries, from energy and mining to transport and logistics. As a publicly listed entity, AEL has solidified its position as a key player in India’s economic development.
AEL focuses on energy, transportation, mining, and consumer goods. It operates renewable energy projects, develops ports, airports, and roads, and invests heavily in coal mining in India, Australia, and Indonesia. Additionally, through Adani Wilmar, it produces edible oils under the Fortune brand. The company also explores emerging sectors like solar manufacturing, defence, and green hydrogen, ensuring long-term sustainability.
Written By Fazal Ul Vahab C H
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