New Delhi: Adani Group on Thursday said the EBITDA of its portfolio companies increased 34% to Rs 79,000 crore in the 12 months ended December 2023.
In a statement, the EBITDA is Rs 78,823 crore in 2023 compared with Rs 58,653 crore pre-tax profit in the previous year.
“The growth was powered by the highly stable core infrastructure platform. Growing at 35.5 per cent, it generated Rs 66,208 crore (USD 8 billion) – 84 per cent of portfolio EBITDA,” it said, reported Business Standard.
International rating agencies, like S&P Global and Moody’s, have upgraded the outlook for all key portfolio companies.
“The portfolio continues to remain conservatively leveraged with net debt to EBITDA as low as 2.5x,” added the statement.
“Higher ratings and healthy cash flows have allowed continued market access, facilitating substantial investments in the year-to-date (April 1, 2023-December 31, 2023).
During this period, various portfolio companies have drawn funds worth Rs 91,290 crore from various sources, including international and domestic banks, and others,” it said.
Adani Green Energy Ltd increased its operational capacity to 9,029 MW after commissioning 551 MW at Khavda Renewable Energy Park in Gujarat.
Similarly, Adani Energy Solutions Ltd has also operationalised the critical Khargar Vikhroli transmission line to connect Mumbai to the national grid, which is a of network 20,422 circuit kilometres.
Adani Total Gas Ltd increased its pipeline network to 11,712-inch km, piped natural gas connections to 7.79 lakh and EV charging stations to 329.
Adani Ports & SEZ (APSEZ) handled 23 per cent more cargo, with a record volume of 311 million tonnes in the first nine months of the current fiscal.
Adani Cements added 15 per cent of 8.6 million tonne per annum (MTPA)capacity, taking the total to 77.4 MTPA (76.1 MTPA under Ambuja and 1.3 MTPA under Adani Enterprises Ltd).
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