The Adani Group EBITDA rose 45 per cent on year, to end FY24, at ₹82,917 crore, net profit rose nearly 71 per cent to ₹40,129 crore, while the group ended the year with cash balance close to ₹60,000 crore (over $7 billion).

These figures were revealed in the chairman, Gautam Adani’s statements in the annual reports of two group companies - Adani Ports and Special Economic Zone and Adani Energy Solutions.

Adani touched on the events of January, 2023, when Hindenburg Research, a U.S.-based short-seller came out with a report, accusing the group of a litany of misdemeanours including corporate governance lapses, stock price manipulations and violation of related party transactions.

Terming it as a multi-dimensional crisis, Adani said that the group, after scrapping a ₹20,000 crore follow-on public offer by Adani Enterprises, had raised ₹40,000 crore, augmenting its cash reserves to cover two years of debt repayment. It also pre-paid ₹17,500 crore in margin-linked financing.

“Our record-breaking achievements in 2023, underscore our alignment with national priorities, and our ability to execute the most complex, largescale projects with unmatched expertise,” Adani said, adding the group’s priorities were aligned with that of the country, and the government’s $2 trillion infrastructure investment by 2030.

The most contribution to the EBITDA was by Adani Power at ₹28,111 crore, up 96 per cent on year.

During the year Adani Ports handled 420 million tonnes of cargo, having acquired Gopalpur and Karaikal ports. It is planning more acquisitions in India as well as overseas. In the annual report Chief Executive Officer Ashwani Gupta said the company was on track to achieve handle cargo of 460-480 million tons in FY25 and eventually to reach 1 billion tons by 2030. It was also growing its international portfolio across South Asia, Southeast Asia, the Middle East, Europe and Africa in partnerships with local entities, he said.

The group revised the renewable energy target to 50GW by 2030 from 45 GW earlier, having added 2.8 GW last year. It commissioned first 2 GW at the world’s largest RE park at Khavda within 12 months of breaking ground.

Adani Power’s operating capacity increased by 12 per cent to 15,250 MW, with the commissioning of the 1,600 MW Godda ultra-supercritical thermal power plant.

The cement capacity under ACC and Ambuja Cements rose to 79 million tonnes while the EBITDA per tonne doubled.

“The challenges we overcame last year have strengthened our resolve,” said Adani.

“Our ambitions are limitless, just like India’s. We see a future where our expertise drives infrastructure revolutions, where our green energy initiatives power a sustainable tomorrow, and where our commitment to upliftment transforms communities.”