Adani Group, which has business interests across ports to airports, from electricity generation to transmission and distribution, from edible oil to FMCG products, logistics, cement, and roads recorded the highest ever EBITDA at a group level (combined all group companies) of ₹57,219 crore, a growth of 36 per cent in FY23 over previous financial year.
As per Adani’s portfolio result snapshot compendium for FY23, the run-rate EBITDA, which considers the annualisation of EBITDA from projects that were commissioned during the year, the number would move up to ₹66,566 crore.
Adani Portfolio companies operate in utility and infrastructure businesses with over 83 per cent of EBITDA being generated from core infrastructure businesses providing assured and consistent cash flow generation.
The Compendium said that 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 signifies the underlying credit quality with many businesses having an underlying rating of “BBB”, but it remains constrained by Sovereign ratings.
EBITDA breakdown for Adani companies
Adani Enterprises, an incubator focusing on establishing diverse new businesses, now accounts for over 50 per cent of EBITDA.
AEL’s EBITDA increased by 99 per cent to ₹10,575 crore and has cash balance of ₹5,652 crore.
Adani Ports and Special Economic Zone reported 14 per cent increase in EBITDA at ₹14,435 crore and have cash balance of ₹9,830 crore.
Adani Green Energy’s EBITDA increased by 63 per cent to ₹6,390 crore and cash balance was at ₹5,571 crore.
Adani Transmission registered 10 per cent jump in EBITDA at ₹6,101 crore and cash balances was at ₹4,152 crore.
Adani Power recorded a 4 per cent jump in EBITDA of ₹14,427 crore and cash balance of ₹2,861 crore.
Adani Total Gas and Adani Wilmar reported an increase of 13 per cent and 5 per cent increase in EBITDA of ₹924 crore and ₹2,139 crore.