Adani Portfolio registers strong growth in FY24, EBITDA reaches record Rs 82,917 crore

The Adani Portfolio of Companies has produced robust and steady growth in FY24 and the previous five years, despite external volatility and headwinds, indicates the strength and stability of its businesses, the company said on Sunday.

The Adani Portfolio of Companies achieved record EBITDA growth in FY24, rising by 45% year over year to reach Rs 82,917 crore (about $10 billion), the largest amount in the portfolio's history.

The company reported that its cash profit, or funds flow from operations (FFO), was at Rs 56,828 crore, or around $6.7 billion. It attributed this development to its disciplined investment strategy, which allowed for a high conversion of EBITDA into cash profit, which allowed for a 51% year-over-year gain.

A strong asset base built over three decades now stands at Rs 478,137 crore (approximately $57 billion), higher by 16 per cent. The assets now serve a consumer base of over 350 million users, with a fast-growing consumer franchise across airports, electricity distribution, smart metering, gas distribution, and a direct-to-consumer digital platform.

"Equity deployed to total assets is highest ever at 62 per cent, against 55 per cent in FY23," said the company.

It added that cash reserves are now at highest-ever levels of Rs 59,791 crore (approximately $7 billion), up by 48.5 per cent YoY.

The core infra and utility platform generated Rs 69,337 crore or 84 per cent of the total EBITDA in FY24.

The portfolio companies experienced several rating improvements due to predictable cash flows.

Being rated 'AAA', Adani Ports and Special Economic Zone became the first major infrastructure business in India.

APSEZ, Ambuja Cement, and ACC are the three listed portfolio firms that currently hold the highest INR rating of 'AAA'. Furthermore, according to the firm, two 'AAA' rated entities under AESL are Western Transmission and Alipurduar Transmission.