Adani Group records its highest-ever EBITDA at the group portfolio level of Rs.57,219 cr, achieving a 36% growth
Adani Group, India’s largest critical infrastructure developer, has released the Adani portfolio results snapshot compendium for FY23.
The group, which has interests ranging from ports to airports, from electricity generation to transmission and distribution, from edible oil to FMCG products, logistics, cement, and roads, recorded its highest-ever EBITDA at the group portfolio level (all group companies combined) of Rs.57,219 crore, achieving a 36 percent growth over the previous financial year.
For run-rate EBITDA, which considers the annualization of EBITDA from projects commissioned during the year, the number is as high as Rs.66,566 crore.
“Adani portfolio companies operate in utility and infrastructure businesses with more than 83 percent of EBITDA being generated from core infrastructure businesses providing assured and consistent cash flow generation.
The platform has a strong asset base which has been built over three decades that supports the resilient critical infrastructure and guarantees best-in-class asset performance over the entire life cycle,” said the compendium.
The Adani portfolio update also stated that there is no material refinancing risk and near-term liquidity requirement as there is no near-term significant debt maturity.
Further, rating affirmations from international and domestic rating agencies signify the underlying credit quality with adequate financial profile with many businesses having underlying rating of ‘BBB’, but it remains constrained by sovereign ratings.
Business-wise summary for FY23
Adani Enterprises Ltd (AEL)
- *Incubator focusing on establishing diverse new businesses
- *Incubation businesses registered an exponential growth and now account for little over 50 percent of AEL’s EBITDA
- Aiport passenger movements more than doubled to 74.8 mn
- Solar modules volumes up 13 percent to 1.3 GW
- Completed 3 HAM road projects during FY 23
- Data-centre project completion status: Chennai (49 percent), Noida (37 percent), Hyderabad (30 percent)
- EBITDA increased by 99.1 per cent to Rs.10,575 crore. EBIDTA margin 7.7 percent
- Run-rate EBITDA was Rs.10,575 crore, cash balance of Rs.5,652 crore
Adani Ports and Special Economic Zone Ltd (APSEZ)
- Largest port developer and operator in India
- Highest ever cargo volume of 339 MMT, 9 percent y-o-y growth.
- Logistics rail volumes crossed a milestone of 500,000 TEUs (twenty-foot equivalent unit)
- EBITDA at Rs.14,435 crore, up 14.5 percent y-o-y. EBITDA margin 64.4 percent
- Run-rate EBITDA Rs.14,435 crore, cash balance Rs.9,830 crore
Adani Green Energy Ltd (AGEL)
- Largest operational renewable portfolio in India with total operational capacity of 8086 MW, up 49 per cent y-o-y
- Commissioned world’s largest solar-wind hybrid plant of 2140 MW in Rajasthan
- EBITDA increased by 62.8 percent to Rs.6,390 crore. EBITDA margin 74 percent
- Run-rate EBITDA Rs.7,505 crore, cash balance Rs.5,571 crore
Adani Transmission Ltd (ATL)
- Largest private transmission and distribution company in India
- Added 1,704 circuit km (ckms), taking total operational to 19,779 ckms
- Won two new tariff-based competitive bidding transmission projects
- Forayed into smart metering projects, got awarded two smart metering projects
- EBITDA for FY23 was Rs.6,101 crore, up 10 percent y-o-y. EBITDA margin 44.1 percent, with investment cycle moving into high-yield smart meter business
- Run-rate EBITDA Rs.6,101 crore, cash balance Rs.4,152 crore
Adani Power Ltd (APL)
- Largest private thermal power producer in India
- Sales up by 2 percent to 53.39 bn units
- Six operating subsidiaries amalgamated with Adani Power Ltd
- Achieved consolidated PLF of 47.9 percent
- EBITDA increased by 4.3 percent to Rs.14,427 crore
- Run-rate EBITDA Rs.18,027 crore, cash balance Rs.2,861 crore
Adani Total Gas Ltd (ATGL)
* India’s leading private player in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to industrial, commercial, domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector
- 126 new CNG stations added, total 460 now
- 1.24 lakh new homes on PNG, now serving over 7 lakh homes
- EBITDA for FY23 was Rs.924 crore, up 12.8 percent y-o-y. EBITDA margin 19.6 percent
- Run-rate EBITDA Rs.924 crore, cash balance Rs.372 crore
Adani Cement (ACC Ltd and Ambuja Cements Ltd)
- ACC Ltd and Ambuja Cements Ltd are part of Adani Cement and one of India’s leading producers of cement and ready-mix concrete
- H2FY23 was the first full operational half-year under Adani post-acquisition of Ambuja and ACC from Holcim
- Sales volume increased and cost reduction initiatives increased EBITDA by 34 percent q-o-q in March 23 over December 22 quarter
- Per tonne EBITDA improved by Rs.250 (30 percent q-o-q improvement), driven by cost-saving initiatives.
- Run-rate EBITDA Rs.9,000 crore, cash balance Rs.11,912 crore
Adani Wilmar Ltd (AWL)
- ‘Fortune’ is the largest selling edible oil brand in India
- India’s largest importer of crude edible oil
- Crossed 5 MMT sales volume, 14 percent y-o-y growth
- More than doubled direct reach in rural towns (13,000+ towns in March 2023) through sub-stockist model
- Continued to be the highest exporter of castor oil from India
- EBITDA increased by 5 percent to Rs.2139 crore. EBITDA margin 3.3 percent
[With Inputs from IANS]
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