Adani EBITDA jumps 47% to record Rs 43k cr

Adani Group on Monday said pre-tax profit or EBITDA of its portfolio companies that span from apples to airports jumped 47 per cent in the first half of the current fiscal year to Rs 43,688 crore on growth across businesses.

“Core infrastructure businesses that provide a high degree of predictability, stability and multi-decadal visibility contributed 86 per cent of total EBITDA,” it said in a statement. Trailing 12-month EBITDA of Rs 71,253 crore ($8.6 billion) is around 3x of FY19 (April 2018 to March 2019 fiscal year) EBITDA. “The integrated business portfolio, which focuses on fortifying India’s infrastructure development, has delivered a strong performance across all its businesses. The substantial cash flows from these businesses lay the foundation for sustained future growth,” the statement said. The group had the highest-ever cash balances of Rs 45,895 crore ($5.5 billion) at the end of September.

Headquartered in Ahmedabad, the Adani portfolio is the largest and fastest-growing portfolio of diversified businesses in India with interests in logistics (seaports, airports, logistics, shipping and rail), resources, power generation and distribution, renewable energy, gas and infrastructure, agro (commodities, edible oil, food products, cold storage and grain silos), real estate, public transport infrastructure, consumer finance and defence. “The incubation continues to be a success story with airports, green hydrogen and other incubating assets emerging strongly and now contributing near 8% of the portfolio EBITDA,” said Jugeshinder (Robbie) Singh, Group CFO.