Adani Portfolio achieves record 47% EBITDA growth in H1FY24, surpassing Rs 43,000cr

Adani Portfolio, a leader in infrastructure development in India, has announced a record-breaking EBITDA growth of 47% in the first half of fiscal year 2024 (H1FY24), crossing Rs 43,000 Crore (USD 5.3 billion). This represents the highest ever half-year growth for the company.

In an impressive financial milestone, Adani Portfolio’s core infrastructure businesses, known for their high predictability and stability, contributed a whopping 86% to the total EBITDA. The Trailing-Twelve-Month EBITDA stands at Rs 71,253 Crore (USD 8.6 billion), nearly tripling since FY19. This surge is further bolstered by the company’s enhanced liquidity position, with record-high cash and balances reaching Rs 45,895 Crore (USD 5.5 billion).

Adani Portfolio’s latest financial performance underscores the company’s formidable presence in fortifying India’s infrastructure development. The diverse businesses within the portfolio have demonstrated strong performance across the board, setting the stage for sustained future growth.

Adani Portfolio Records Highest Ever EBITDA Growth, Jumps 47% in H1FY24

Jugeshinder (Robbie) Singh, Group CFO, highlighted the success of the incubating assets, including Airports and Green Hydrogen, which now contribute nearly 8% of the portfolio EBITDA. He emphasized the Portfolio’s resilience and consistent growth despite macroeconomic challenges.

H1 FY24 Highlights:

Adani’s financial performance in H1 FY24 is characterized by robust growth and an enhanced credit profile. The portfolio level EBITDA increased by 47% YoY, exceeding the full-year EBITDA of FY22 and nearly tripling the FY19 EBITDA. This growth trajectory is driven by a 52% YoY increase in core infrastructure businesses, including utility, transport, and other sectors being incubated by Adani Enterprises. These sectors have shown substantial revenue growth, reflecting focused investment in sustainable and robust infrastructure.

Major Business-wise Highlights:

The incubation efforts under Adani Enterprises have paid off, with assets like low-cost green hydrogen integrated manufacturing showing a staggering 212% YoY revenue growth. Similarly, the airports business saw a 29% YoY growth in passenger volume, leading to a significant revenue increase. The cement business, including Ambuja & ACC, experienced more than double EBITDA growth on a year-on-year basis. Adani Green Energy’s renewable business also reported a milestone EBITDA growth of 76% YoY.

Adani Ports & SEZ achieved a significant milestone, with domestic cargo volumes exceeding the 200 MMT mark for the first time in a six-month period. This achievement reflects more than double the overall cargo volume growth in India.

About The Adani Portfolio:

Based in Ahmedabad, the Adani Portfolio stands as India’s largest and fastest-growing diversified business conglomerate. Its interests span across various sectors including Logistics, Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, and more. The Portfolio’s recent financial achievements underscore its pivotal role in shaping India’s infrastructure and economic landscape.