Home » Private Sector » Adani Group says its portfolio posted highest ever EBITDA growth in H1FY24, crosses Rs 43,000 cr

Private Sector

Adani Group says its portfolio posted highest ever EBITDA growth in H1FY24, crosses Rs 43,000 cr

Adani Group

Adani Group announced on Monday that its portfolio delivered the highest ever EBITDA growth in H1FY24, surpassing Rs 43,000 crore. On Monday, the Gautam Adani-led conglomerate released its half-yearly financial performance update.

“The integrated business portfolio, which focuses on strengthening India’s infrastructure development, has delivered strong results across the board.” The Adani Group stated that “the substantial cash flows from these businesses lay the foundation for sustained future growth.”

“The incubation continues to be a success story with Airports, Green Hydrogen and other incubating assets emerging strongly and now contributing near 8% of the portfolio EBITDA,” said Jugeshinder Singh, the group’s chief financial officer. “The portfolio has withstood the test of time and has a track record of tremendous growth inspite of macroeconomic and other challenges.”

According to the conglomerate, the Adani portfolio of companies demonstrated robust financial performance in the first half of fiscal year 2024 while further strengthening its strong credit profile.

EBITDA at the portfolio level was Rs 43,688 crore ($5.3 billion), up 47% year on year. According to Adani Group, this growth outpaced the portfolio’s historical five-year compound annual growth rate (CAGR) trajectory of 26.3%.

Adani Group

Adani Group stated that the growth was driven by the core infrastructure businesses, which grew by 52% year on year to Rs 37,379 crore ($4.5 billion), accounting for 86% of total EBITDA. These businesses include utilities (Adani Green Energy, Adani Energy Solutions, Adani Power, and Adani Total Gas), transportation (Adani Ports & SEZ), and other infrastructure (green hydrogen integrated manufacturing, airports, and roads) incubated by Adani Enterprises. The portfolio’s focused investment in infrastructure development, which is yielding significant results, is reflected in the expansion. “Adani Enterprises’ strategic initiatives to bolster its infrastructure portfolio are in line with the rising demand for sustainable and robust infrastructure in India and beyond,” Adani Group said in a statement.

The cement business (Ambuja & ACC) consistently benefits from the portfolio’s cost and operational synergies. According to the conglomerate, the H1FY24 EBITDA for this business more than doubled year on year on a single digit volume increase.