Adani Group Registers Record-Breaking Performance In 2022-23

Adani Group on Tuesday said it has delivered a record-breaking performance across its portfolio of companies in Fiscal Year 2023.

The conglomerate said it recorded its highest-ever EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) group portfolio level of Rs 57,219 crore, achieving a 36 percent growth over the previous financial year.

Run-rate EBITDA, which considers the annualization of EBITDA from projects that are commissioned during the year, the number is as high as Rs 66,566 crore, said the company statement.

“Adani Portfolio companies operate in utility and infrastructure businesses with more than 83 per cent of EBITDA being generated from core infrastructure businesses providing assured and consistent cash flow generation. The platform has a strong asset base which has been built over three decades that supports the resilient critical infrastructure and guarantees best-in-class asset performance over the entire life cycle,” said the Compendium.

The Adani Portfolio update also stated 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 adequate financial profile with many businesses having underlying rating of “BBB”, but it remains constrained by Sovereign ratings.

Business-wise summary for FY23

Adani Enterprises Ltd (AEL)

-Incubation businesses registered exponential growth and now account for little over 50 per cent of AEL’s EBITDA.

– Aiport passenger movements more than doubled to 74.8 mn

– Solar modules volumes up 13 per cent to 1.3 GW

– Completed 3 HAM road projects during FY 23

– Data-centre project completion Status: Chennai (49 percent), Noida (37 per cent), Hyderabad (30 per cent)

– EBITDA increased by 99.1 per cent to Rs 10,575 crore. EBIDTA margin was 7.7 per cent

– Run-rate EBITDA was Rs 10,575 crore, cash balance of Rs 5,652 crore

Adani Ports and Special Economic Zone Ltd (APSEZ)

– Highest ever cargo volume of 339 MMT, 9 per cent y-o-y growth.

– Logistics rail volumes crossed a milestone of 500,000 TEUs (Twenty-foot equivalent unit)

– EBITDA at Rs 14,435 crore, up 14.5 per cent y-o-y.

– EBITDA margin was 64.4 per cent

– Run-rate EBITDA was Rs 14,435 crore, cash balances were Rs 9,830 crore

Adani Green Energy Ltd (AGEL)

– Total operational capacity of 8086 MW, up 49 per cent y-o-y

– Commissioned world’s largest solar-wind hybrid plant of 2140 MW in Rajasthan

– EBITDA increased by 62.8 per cent to Rs 6,390 crore, EBITDA margin was 74 per cent

– Run-rate EBITDA was Rs 7,505 crore, cash balances were Rs 5,571 crore

Adani Transmission Ltd (ATL)

– Added 1704 circuit km (ckms), taking total operational to 19,779 ckms

– Won two new tariff based competitive bidding transmission projects

– Forayed into smart metering projects, got awarded two smart metering projects

– EBITDA for FY23 was Rs 6,101 crore, up 10 per cent y-o-y, EBITDA margin was 44.1 percent, with the investment cycle moving into high yield smart meter business.

– Run-rate EBITDA was Rs 6,101 crore, cash balances were Rs 4,152 crore

Adani Power Ltd (APL)

– Sales up by 2 per cent to 53.39 bn units

– Six operating subsidiaries amalgamated with Adani Power Ltd.

– Achieved consolidated PLF of 47.9 per cent

– EBITDA increased by 4.3 per cent to Rs 14,427 crore

– Run-rate EBITDA was Rs 18,027 crore, cash balance at Rs 2,861 crore

Adani Total Gas Ltd (ATGL)

– 126 new CNG stations added, total of 460 now

– 1.24 lakh new homes on PNG (piped natural gas), now serving over 7 lakh homes

– EBITDA for FY23 was Rs 924 crore, up 12.8 per cent y-o-y. EBITDA margin was 19.6 per cent

– Run-rate EBITDA was Rs 924 crore, cash balances were rs 372 crore

Adani Cement (ACC Ltd and Ambuja Cements Ltd)

– ACC Ltd and Ambuja Cements Ltd are part of Adani Cement and one of India’s leading producers of cement and ready-mix concrete

– H2FY23 was the first full operational half-year under Adani post-acquisition of Ambuja and ACC from Holcim

– Sales volume increase and cost reduction initiatives increased EBITDA by 34 per cent q-o-q in March 23 quarter over December 2022 quarter

– Per ton EBITDA improved by Rs 250 (30 per cent q-o-q improvement), driven by cost-saving initiatives.

– Run-rate EBITDA was Rs 9,000 crore and cash balance of Rs 1,912 crore

Adani Wilmar Ltd (AWL)

– Crossed 5 MMT sales volume, 14 per cent y-o-y growth

– More than doubled direct reach of rural towns (over 13,000 towns in March 2023) through sub-stockist model

– Continued to be the highest exporter of castor oil from India

– EBITDA increased by 5 per cent to Rs 2,139 crore, EBITDA margin was 3.3 per cent

Headquartered in Ahmedabad, Adani Group is one of the fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Consumer Finance and Defence, and other sectors.

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