Market capitalisation of Adani Group entities cross $100 bn

13 Jul 2021 CW Team

In an annual shareholders' meeting, the Chairman of Adani Group said that the market capitalisation of the listed entities of Adani Group crossed $100 billion in the first week of FY22.

Gautam Adani said that Adani's listed entities propelled the company's portfolio to cross $100 billion in market capitalisation in the first week of FY22. This milestone achieved is the first for a first-gen Indian company.

In FY21, the consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the listed portfolio was Rs 32,000 crore, registering a year-on-year (YoY) growth of 22%. All the generated stock returns over 100%, and Adani ensured to return an amount of around Rs 9,500 crore to their equity shareholders. It is 166% growth in Profit After Tax on a YoY basis, he said.

Adani Ports and SEZ's share of India's port-based cargo system increased to 25% in FY21, and the container segment market rose to 41%, he added. He further said that the company's airport business has taken over operations of airports in Ahmedabad, Lucknow, and Mangalore. The company even signed concession agreements for Jaipur, Guwahati and Thiruvananthapuram, and got the privatisation contracts for these airports.

Adani Group is to acquire a controlling stake in Mumbai International Airport (MIAL), a GVK consortium that runs the city's airport and won the contract to set another of Rs 16,000 crore.

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Also read: Adani to launch IPO of its airport business

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