Adani Group Chairman Gautam Adani hinted the group will build on its strength as infrastructure developer while engaging with foreign governments.
Addressing shareholders at the 30th annual general meeting (AGM) of the group’s flagship, Adani Enterprises Limited, on Tuesday, Adani stated that several foreign governments are now approaching the group to build infrastructure in their countries. This is a recognition of the growth and success around the world, he pointed out.
“Several foreign governments are now approaching us to work in their geographies and help build their infrastructure. Therefore, in 2022, we also laid the foundation to seek a broader expansion beyond India’s boundaries,” he said unveiling the group’s overseas ambitions.
Notably, besides its extensive presence in Australia with interests in mines, ports and railways, Adani has also expanded its infrastructure projects through partnerships in Sri Lanka and most recently in Israel.
Back in India, the company has emerged as one of the prominent players for infrastructure development.
"We continue to grow as builders of India's infrastructure, winning some of the largest road contracts in the nation and growing our already substantial market share in business such as ports, logistics, transmission and distribution, city gas and piped natural gas," Adani told the shareholders.
During the year, Adani Group's combined market capitalisation exceeded $200 billion, which was supported by a robust and sustained growth in the cash flows from its diversified business portfolio.
"Our focus on operational excellence across our portfolio and the accretive capacity addition delivered an EBITDA growth of 26 per cent. Portfolio EBITDA stood at ₹42,623 crore," Adani said adding the diversified growth in FY22 was reflected across the range of businesses.
Adani's utility portfolio grew 26 per cent, transport and logistics (19 per cent), FMCG (34 per cent), and Adani Enterprises Limited (AEL), the incubator business, grew 45 per cent, he informed.
"AEL’s unique business model has no parallel and we intend to leverage this further. The high growth of AEL provides the group with a reliable foundation for the continued development of new businesses for yet another big decade," he said.
"Over the past decade, the company has transformed into an integrated ‘platform of platforms’ that combines an energy platform with a logistics platform—both of which help us with unprecedented access to the Indian consumer," Adani said.
On the group's ambitions in the clean energy sector, Adani stated that India witnessed "an astonishing 125 per cent increase in capital investment in renewables in FY22 compared to FY21."
Adani has committed an investment of $70 billion in facilitating the country’s transition to green energy.
The group now looks to further capitalise on its renewable strength to make green hydrogen the fuel of future.
“We are leading the race to turn India from a country over-reliant on import of oil and gas to a country that might one day become a net exporter of clean energy,” he said.
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