The Adani Group's array of companies reported an impressive surge in quarterly profits, with a remarkable 63.6 percent growth year-on-year. As of December 2023, the trailing 12-month EBITDA reached Rs 78,823 crore ($9.5 billion), marking a substantial increase compared to previous fiscal years. Notably, this figure stands at 2.5 times the EBITDA recorded in FY21 and reflects a 37.8 percent rise over FY23.
Highlighting the robust financial standing, the company maintained a significant cash balance of Rs 44,572 crore ($5.4 billion) by the end of December 31, 2023. The core infrastructure segment demonstrated exceptional performance, contributing Rs 66,208 crore ($8 billion) in EBITDA over the last 12 months, marking a notable 35.4 percent increase year-on-year.
International and domestic rating agencies, including S&P Global and Moody’s, have positively revised the outlook for Adani portfolio companies, enhancing investor confidence. Gautam Adani, Founder and Chairman of the Adani Group, announced plans to invest approximately $100 billion in India's green energy transition over the next decade, focusing on scaling up solar manufacturing capacity to 10 GW by 2027.
Despite substantial investments, the portfolio maintains conservative leverage, with key metrics such as net debt to EBITDA, debt coverage, and gross assets to net debt reflecting stability. The favorable ratings and robust cash flows have facilitated significant investments, with portfolio companies securing funds totaling Rs 91,290 crore from various sources during the period from April 1, 2023, to December 31, 2023.
Adani Enterprises Limited (AEL) witnessed burgeoning momentum in emerging infrastructure businesses, including the ANIL ecosystem, airports, roads, and green energy-powered data centers, which now contribute substantially to the company's total EBITDA. Notably, the company's initiatives in solar energy have seen remarkable progress, with achievements such as COD certification from the Solar Energy Corporation of India for setting up electrolyser manufacturing.
Adani Green Energy Limited (AGEL) continues to expand its operational renewable capacity, notably reaching 9,029 MW after commissioning 551 MW at the Khavda renewable energy park in Gujarat. AGEL's commitment to renewable energy is underscored by plans to develop the world's largest renewable energy park, which is expected to generate significant employment opportunities and cater to millions of households.
Adani Energy Solutions Limited (AESL) successfully operationalized critical infrastructure projects, including the Kharghar Vikhroli Transmission Line, contributing to the enhancement of Mumbai's connectivity to the national grid. Adani Ports & SEZ (APSEZ) witnessed a substantial increase in domestic cargo handled, surpassing previous records, while Adani Cements expanded its capacity, further solidifying its position in the industry.
On the environmental, social, and governance (ESG) front, AGEL achieved top rankings in ESG assessments for the second consecutive year, demonstrating the company's commitment to sustainability and responsible business practices.
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