Adani claims that group EBITDA increased 36% in FY23
Pre-tax profits, or EBITDA, of the listed firms, ranging from ports to commodities, increased 36% to Rs 57,219 crore in the fiscal year that ended on March 31 (FY23), according to a statement from Adani Group on Tuesday. There are also no significant refinancing risks and no immediate liquidity needs.
The company unveiled a financial results summary compendium for the fiscal year 2022–2023 (FY23), outlining its holdings in everything from ports to airports, energy production to transmission and distribution, edible oil to FMCG items, logistics, cement and roads.
The company “reached its highest ever EBITDA at the group portfolio level at Rs 57,219 crore, representing a 36% gain over the previous financial year. According to run-rate EBITDA, which takes into account the annualization of EBITDA from projects that are commissioned during the year, the amount may reach Rs 66,566 crore.
With more than 83% of EBITDA coming from core infrastructure industries, Adani Portfolio firms engage in the utility and infrastructure sectors, ensuring steady and reliable cash flow production.
According to the compendium, the platform has a solid asset base that has been developed over three decades and supports the resilient critical infrastructure while ensuring best-in-class asset performance over its full life cycle.
In addition, it said that there was “no near-term significant debt maturity” and that there was “no material refinancing risk and near-term liquidity requirement.”
“Further, rating affirmations from domestic and international rating agencies signifies the underlying credit quality with adequate financial profile, with many businesses having an underlying rating of BBB, but it remains constrained by sovereign ratings,” it said.
As of March 31, 2023, net debt was $1.86 trillion.
The group’s premier business incubator, Adani Enterprises Ltd, which houses everything from data centres to airports, posted a net profit of Rs 2,422 crore on sales of Rs 1.38 lakh crore.
The number of passengers passing through airports more than quadrupled to 74.8 million, three road projects were finished, and substantial progress was made on the data centres in Chennai, Noida, and Hyderabad.
The highest-ever cargo volume was reported by Adani Ports and Special Economic Zone Ltd (APSEZ), which increased by 9% year over year to 339 million tonnes.
In Rajasthan, the biggest operating solar-wind hybrid plant in the world, with a capacity of 2140 MW, was inaugurated by Adani Green Energy Ltd. (AGEL), the largest operational renewable portfolio in India.
The total operational circuit kilometres (ckms) increased to 19,779 ckms after Adani Transmission Ltd (ATL), the biggest private transmission and distribution firm in India, added 1,704 ckms.
Sales at India’s biggest private thermal power generator, Adani Power Ltd (APL), increased by 2% to 53.39 trillion units.
The city gas company, Adani Total Gas Ltd (ATGL), increased the number of CNG stations by 126, bringing the total to 460. Additionally, 1.24 lakh brand-new dwellings powered by PNG (piped natural gas) increased the total number of connections to above 7 lakh.
Sales volume growth and cost-cutting measures by Adani Cement, the company that owns ACC Ltd and Ambuja Cements Ltd, resulted in a 34% increase in EBITDA.
The commodities company, Adani Wilmar Ltd (AWL), surpassed a sales volume of 5 million tonnes, growing by 14% year over year.
