Adani Group says it registered record-breaking performance in 2022-23
The Hindu
Adani Group on June 6 said it has delivered a record-breaking performance across its portfolio of companies in fiscal year 2023
Adani Group on June 6 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 Amortisation) group portfolio level of ₹57,219 crore, achieving a 36% growth over the previous financial year.
Run-rate EBITDA, which considers the annualisation of EBITDA from projects that are commissioned during the year, is as high as ₹66,566 crore, the company statement said. "Adani Portfolio companies operate in utility and infrastructure businesses with more than 83% 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," the Compendium said.
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The Adani portfolio update also stated that there was no material refinancing risk and near-term liquidity requirement as there was no near-term significant debt maturity. Further, rating affirmations from international and domestic rating agencies signified the underlying credit quality with adequate financial profile with many businesses having underlying rating of "BBB", but it remains constrained by sovereign ratings.
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.