Adani Portfolio achieves record financial performance in FY24 with 45% EBITDA growth

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Adani Portfolio has reported a stellar financial performance for the fiscal year 2024, achieving an unprecedented EBITDA growth of 45%, amounting to USD 10 billion. This significant growth underscores the robustness and resilience of the portfolio’s core infrastructure businesses, which contribute 84% of the total EBITDA, ensuring a highly predictable cash flow generation.

The substantial rise in EBITDA is mirrored by an impressive 51% increase in Cash Profit from Funds Flow from Operations (FFO), which totaled USD 7 billion. This growth has been fueled by Adani Portfolio’s disciplined investment strategy and its diverse range of core operations including airports, electricity distribution, smart metering, and direct-to-consumer digital platforms. The company’s consumer base now encompasses over 350 million users, marking a significant expansion in its consumer outreach.

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The Adani Group’s asset base, which has been meticulously built over three decades, has grown by 16% to a remarkable USD 57 billion. This escalation in assets has been accompanied by a substantial increase in equity deployment, which reached a record high of 62% of total assets, compared to 55% in the previous fiscal year.

Furthermore, the Adani Portfolio has strengthened its liquidity position, with cash reserves soaring by 48.5% year-over-year to an all-time high of USD 7 billion. This robust financial position has facilitated a reduction in leverage, with the Net Debt to EBITDA ratio decreasing from 3.3x at the end of FY23 to 2.2x, marking a multi-year low.

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In recognition of its stable and predictable cash flows, Adani Ports and Special Economic Zone was rated ‘AAA’, making it the first large-scale Indian infrastructure company to achieve this rating. Similarly, Ambuja Cement and ACC, both part of the Adani Portfolio, have also secured the highest INR rating of ‘AAA’. This enhancement in credit ratings reflects the group’s superior capital allocation strategy that maximizes returns while minimizing risks.

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The diversified funding sources of Adani Portfolio, with a balanced exposure to domestic and global banking and capital markets, have also been a key factor in its financial robustness. The debt profile showcases a strategic mix, with significant portions spread across different markets, ensuring financial stability and access to various funding avenues.

As Adani Portfolio continues to expand and strengthen its operations across multiple sectors including logistics, energy, agro, and infrastructure, it remains poised for further growth and development, driving substantial economic and social value.

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