Adani Portfolio Clocks 45 Per Cent Climb In EBITDA In FY24 To Rs 82,917 Crore

The Group reported cash reserves of Rs 59,791 crore at the portfolio level, a record high that was 48.5 per cent more than the preceding year

Adani Group clocked a robust performance in the 2023-24 fiscal year (FY24), as the company in its latest results for the January-March quarter in the year showed major growth in the firm’s portfolio.

In the fiscal year under review, the EBITDA of the conglomerate climbed 45 per cent on a year-on-year (YoY) basis to touch Rs 82,917 crore. The EBITDA means Earnings before Interest, Tax, Depreciation, and Amortization. This metric is often used by companies as an alternative to net income to better understand their finances.

“The performance in FY24 and the past five years signify the strength and stability of the Adani Portfolio and the robustness of its businesses, which despite all external volatilities and headwinds, continue to deliver strong and consistent growth year after year. It also highlights the superior capital allocation strategy that maximises returns and minimises risks,” the conglomerate said in a release.

The firm, led by Gautam Adani, attributed this growth to the core infrastructure businesses, which contributed for 84 per cent for the EBITDA growth and provided ‘highly predictable cashflow generation’. The core infrastructure and utility platform generated Rs 69,337 crore in the fiscal under review, the company stated.

The gross assets of the Adani portfolio soared 16 per cent to touch Rs 4,78,137 crore in FY24, against a year earlier. The Group reported cash reserves of Rs 59,791 crore at the portfolio level, a record high that was 48.5 per cent more than the preceding year.

Elaborating on the funding sources, the conglomerate said, “The Adani Portfolio debt profile represents a balanced exposure to domestic banking, global banking and capital markets. Of the total debt mix, domestic banking exposure stands at 36 per cent and domestic capital markets at 5 per cent, whereas 26 per cent is the exposure to the global banking market; the global capital market is at 29 per cent and the balance 4 per cent is with others.”