In the recently concluded financial year 2023-24, the Adani Group of companies performed its best, delivering a record overall EBITDA growth of 45 per cent.
“Sustained growth in EBITDA is due to a high contribution of the core infra and utility platform, which offers a high level of predictability, stability, and visibility,” the conglomerate said on Sunday.
The core infra and utility platform generated ₹ 69,337 crore or 84 per cent of the total EBITDA (earnings before interest, taxes, depreciation, and amortization).
With strong cashflows and enhanced credit profiles, the Adani Portfolio is seemingly in a ‘stronger than ever’ position to accelerate the growth momentum.
On Sunday, Adani Group released a Credit and Result compendium for financial year 2023-24, which offered insights into the financial performance of the portfolio.
Its performance in 2023-24 and over the past five years, despite all external volatilities and headwinds, has been consistent year after year.
Liquidity position: With cash reserves of ₹ 59,791 crore ($7.2 billion) at the portfolio level was the highest ever, it is up 48.5 per cent from last year and was at 24.8 per cent of gross debt.
Predictable cashflows also led to multiple rating upgrades across portfolio companies. Adani Ports and Special Economic Zone became the first largescale Indian infrastructure company to be rated ‘AAA’.
Now, three listed portfolio companies — APSEZ, Ambuja Cement and ACC — have the highest INR rating of ‘AAA’. Additionally, there are two ‘AAA’ rated entities under AESL, namely Alipurduar Transmission and Western Transmission.
Coming to its debt mix, domestic banking exposure stands at 36 per cent and domestic capital markets at 5 per cent whereas 26 per cent is the exposure to the global banking market; the global capital market is at 29 per cent and the balance 4 per cent is with “others”.
In the compendium, it said its total gross assets increased by ₹ 65,901 crore ($8 billion) or 16 per cent and now stand at ₹ 478,137 crore ($57.4 billion).
In its compendium, it also mentioned about its latest development milestones, including its first ingot and wafer manufacturing facility at Mundra, Gujarat; integrated Terminal 3 of Chaudhary Charan Singh International Airport, Lucknow; Khavda, the world’s largest energy park in the making – Solar and India’s largest wind turbine; among others.
Headquartered in Ahmedabad, the Adani portfolio is the fastest-growing portfolio of diversified businesses in India with interests in logistics (seaports, airports, shipping and rail), resources, power generation and distribution, renewable energy, gas and infrastructure, agro (commodities, edible oil, food products, cold storage and grain silos), public transport infrastructure, defence, and other sectors.
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