Adani Group now stronger than ever
Its Chairman Gautam Adani says best yet to come from the Group
image for illustrative purpose
Turnaround in FY24
- Adani Group reports highest EBITDA of Rs82,917 cr ($10 bn)
- PAT at record high of Rs40,129 cr
- Pre-paid Rs17,500 cr of margin-linked financing
- Raised Rs40,000 cr to cover for debt repayments of next 2 yrs
New Delhi: Billionaire Gautam Adani on Monday cited record earnings, robust cash positions and the lowest debt ratios to state that his ports-to-energy conglomerate was stronger than ever and its best is yet to come.
With India marching towards becoming a $10 trillion economy by 2032 and infrastructure expected to grow at 20-25 per cent to reach $2.5 trillion, Adani group being an infrastructure company ‘at the very core’, is well positioned to capitalise on the upcoming opportunities, he said.
“We recorded our highest EBITDA of Rs82,917 crore or approximately $10 billion, a remarkable surge of 45 per cent. This exceptional performance drove our profit after tax to a record high of Rs40,129 crore, marking a substantial 71 per cent growth. Our net Debt to EBITDA fell from 3.3X to 2.2X over the past year,” Gautam Adani told shareholders at the Adani Enterprises’ annual general meeting (AGM).
All of this resulted in an all-time-high level of liquidity for the Group with a cash balance of Rs59,791 crore.
Adani further added that given the noise, the group returned proceeds from the offering after successfully raising Rs20,000 crore. Dwelling upon the strategy, he said the group raised Rs40,000 crore to cover for debt repayments of the next two years.
