Adani Group recorded its highest-ever EBITDA of Rs 82,917 crore in FY24, a 45% rise from the year-ago period, with 84% of it coming from its core infrastructure businesses.
The core infrastructure and utility platform generated Rs 69,337 crore of the total EBITDA, while its base rose to over 350 million consumers. This is providing a “highly predictable” cashflow generation for the group, according to Adani Portfolio’s Credit and Result compendium for FY24.
The group’s cash profit of funds flow from operations (FFO) rose 51% from the year-ago period to Rs 56,828 crore. Its total gross assets rose Rs 65,901 crore or 16% to Rs 4.78 trillion.
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Equity deployed to total assets is highest ever at 62%, compared to 55% in FY23, it said.
With surging cash flows and enhanced credit profiles, Adani Group companies are in a ‘stronger than ever’ position to accelerate growth investments,” it added.
The group’s rising cash profit lowered the net leverage significantly. Its net debt to EBITDA is down to 2.2 times from 3.3 times as of FY23 end. The cash reserves of Rs 59,791 crore at the portfolio level was up 48.5% from last year and was at 24.8% of gross debt, it said.
Of the total debt, exposure to domestic banks was at 36%, domestic capital markets at 5% and 26% to the global banking market. The exposure to the global capital market was at 29% and the balance 4% is with others, it added.
From FY19 to FY24, Adani portfolio’s gross assets increased at a 25% CAGR, while EBITDA grew at 27% CAGR, and in comparison, the net debt rose by 14%, it said. The five-year CAGR for profit growth was 54%.
From: financialexpress
Financial News
