New Delhi: Adani Group, India’s largest critical infrastructure developer, has released the Adani Portfolio Results Snapshot Collection for FY23.
The group, which has interests ranging from ports to airports, power generation to transmission and distribution, edible oil to FMCG products, logistics, cement and roads, has posted its highest ever Group Portfolio level (all group companies together) Recorded EBITDA. 57,219 crore, achieving a growth of 36 per cent over the previous financial year.
For run-rate EBITDA, which considers annualization of EBITDA from projects commissioned during the year, the number works out to Rs 66,566 crore.
“Adani portfolio companies operate in utility and infrastructure businesses, with over 83 per cent of EBITDA generated from core infrastructure businesses providing assured and consistent cash flows.
The platform has a strong asset base built over three decades that supports resilient critical infrastructure and guarantees best-in-class asset performance throughout its life cycle,” said the archive.
The Adani portfolio update also said that there is no material refinancing risk and near-term liquidity requirement as there are no significant debt maturities in the near term.
In addition, confirmation of ratings from international and domestic rating agencies reflects the underlying credit quality with adequate financial profile with many businesses having an underlying rating of ‘BBB’ but constrained by the sovereign rating.
Business-wise Summary for FY23
Adani Enterprises Limited (AEL)
* Incubator focusing on setting up diverse new businesses
* Incubation businesses registered an exponential growth and now account for a little over 50 per cent of AEL’s EBITDA
* Passenger movements at the airport more than doubled to 74.8 million
* Solar module volume up 13 percent to 1.3 GW
* Completed 3 HAM road projects during FY23
* Data-center project completion status: Chennai (49 percent), Noida (37 percent), Hyderabad (30 percent)
* Ebitda increased by 99.1 percent to Rs 10,575 crore. Ebitda margin 7.7 percent
* Run-rate EBITDA Rs 10,575 crore, cash balance Rs 5,652 crore
Adani Ports and Special Economic Zone Limited (APSEZ)
* Largest port developer and operator in India
* Highest ever cargo volume of 339 MMT, a growth of 9% YoY.
* Logistics rail volume passed a milestone of 500,000 TEU (twenty foot equivalent units)
* EBITDA at Rs 14,435 crore, up 14.5 per cent YoY. Ebitda Margin 64.4%
* Run-rate EBITDA Rs 14,435 crore, cash balance Rs 9,830 crore
Adani Green Energy Limited (AGEL)
* Largest operational renewable portfolio in India with total operational capacity of 8086 MW, up 49% year-on-year.
* World’s largest solar-wind hybrid plant of 2140 MW commissioned in Rajasthan
* Ebitda grew by 62.8 per cent to Rs 6,390 crore. Ebitda Margin 74%
* Run-rate EBITDA Rs 7,505 crore, cash balance Rs 5,571 crore
Adani Transmission Limited (ATL)
* Largest private transmission and distribution company in India
* 1,704 Circuit Kilometers (CKMS) added, taking the total operations to 19,779 CKMS
* Won two new tariff-based competitive bidding transmission projects
* Entered smart metering projects, awarded two smart metering projects
* EBITDA for FY23 was Rs 6,101 crore, up 10 per cent YoY. EBITDA margin of 44.1 percent, with investment cycle moving to higher-yielding smart meter business
* Run-rate EBITDA Rs 6,101 crore, cash balance Rs 4,152 crore
Adani Power Limited (APL)
* Largest private thermal power producer in India
* Sales up 2 percent to 53.39 billion units
* Six operating subsidiaries were amalgamated with Adani Power Limited
* Achieved a consolidated PLF of 47.9 percent
* EBITDA up 4.3 per cent to Rs 14,427 crore
* Run-rate EBITDA Rs 18,027 crore, cash balance Rs 2,861 crore
Adani Total Gas Limited (ATGL)
* India’s leading private company in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to industrial, commercial, domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector
* 126 new CNG stations added, total now 460
* 1.24 lakh new homes on PNG, now serving over 7 lakh homes
* EBITDA for FY23 was Rs 924 crore, up 12.8 per cent YoY. Ebitda Margin 19.6%
Run-rate Ebitda Rs 924 cr, Cash Balance Rs 372 cr
Adani Cement (ACC Limited and Ambuja Cements Limited)
* ACC Limited and Ambuja Cements Limited are part of Adani Cement and are among India’s leading producers of cement and ready-mix concrete.
* H2FY23 was the first full operational half-year under Adani after the acquisition of Ambuja and ACC from Holcim
* Increased sales volume and cost reduction initiatives boosted EBITDA 34 percent quarter-on-quarter in the quarter ended December 22 to March 23
* EBITDA per tonne improved by Rs 250 (30% Q-o-Q improvement), driven by cost-saving initiatives.
* Run-rate EBITDA Rs 9,000 crore, cash balance Rs 11,912 crore
Adani Wilmar Limited (AWL)
* ‘Fortune’ is the largest selling edible oil brand in India.
* India’s largest importer of crude edible oil
* Crossed 5 MMT sales volume, a 14 percent year-on-year increase
* More than doubled direct reach in rural towns (13,000+ towns by March 2023) through sub-stockist model
* Became the largest exporter of castor oil from India
* Ebitda increased by 5 percent to Rs 2139 crore. Ebitda Margin 3.3%