Adani Group achieves record-breaking performance in FY23; EBITDA jumps 36%

The Adani conglomerate has stated that its portfolio companies primarily operate in utility and infrastructure sectors, generating over 83% of their EBITDA from core infrastructure businesses, ensuring consistent cash flow.

In FY23, the conglomerate achieved its highest-ever EBITDA at the group portfolio level, recording a 36% growth compared to the previous year. The run-rate EBITDA, considering the annualization of EBITDA from newly commissioned projects, reached Rs 66,566 crore.

The conglomerate emphasized the strength of its asset base, which has been developed over three decades, supporting resilient critical infrastructure and delivering exceptional performance throughout the asset life cycle.

To regain investor trust after a critical report by US short seller Hindenburg Research, Adani Group has repaid loans totaling $2.65 billion as part of a prepayment program to reduce overall leverage. Hindenburg Research's report in January alleged accounting fraud and stock price manipulation, causing a significant decline in the conglomerate's market value.

Adani Group has refuted all allegations and is implementing a comeback strategy, including resetting its ambitions and prepaying loans to reassure investors. Recently, Adani Enterprises Ltd and Adani Transmission Ltd announced plans to raise Rs 21,000 crore through share sales.