Adani portfolio delivers 45% EBITDA growth in FY23-24

03 Jun 2024 CW Team

Adani Group's portfolio showcased remarkable growth in FY23-24, with a staggering 45% increase in pre-tax profit (EBITDA), reaching Rs 829.17 billion, as reported by the conglomerate. Despite facing challenges such as market volatility and external pressures, the group focused on strategic measures like debt containment, reducing founder share pledge, and consolidating core competencies. This resulted in a robust compound annual growth rate (CAGR) of 54% for profit growth over the past five years. A significant portion of the EBITDA, amounting to 84%, stemmed from 'core infrastructure' businesses, ensuring consistent cash flows. The disciplined investment strategy led to a 51% year-on-year growth in cash profit or funds flow from operations (FFO), totaling Rs 568.28 billion. With a resilient asset base valued at Rs 4.78 trillion and serving a consumer base of 350 million users, the Adani portfolio demonstrated strength and stability. The group's exceptional capital allocation strategy, coupled with efficient deployment of capital, enabled impressive growth in gross assets and EBITDA while maintaining conservative leverage. The group's companies witnessed record EBITDA growth in FY24, paving the way for accelerated growth investments. The increasing consumer user base across various sectors further solidifies the group's position, with rising cash flows contributing to lower net leverage and enhancing credit profiles. Adani Enterprises, Adani Ports, Adani Power, Adani Green Energy, and Adani Energy Solutions spearheaded various projects, boosting the group's presence in solar power generation, renewable energy capacity, and infrastructure development. With a robust balance sheet and high liquidity, the Adani portfolio is well-equipped to capitalise on future growth opportunities, positioning itself for continued success in the coming years. (Source: ET Infra)

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