Ahmedabad:
Adani Group Chairman Gautam Adani said on Monday that with the strongest results in its history, strong cash position and lowest debt ratio, the path is bright for the group’s portfolio with the promise of major achievements. Let us tell you that the performance of Adani Group in the financial year 2023-24 has been very good.
At the annual general meeting (AGM) of the group’s flagship company Adani Enterprises, Gautam Adani told shareholders that in the financial year 2023-24, we have achieved our highest ever revenue growth of ₹82,917 crore (about $10 billion). 50,000 achieved an EBITDA, leading to a 71 percent year-on-year growth of Rs. 40,129 crores. At the same time, our debt to EBITDA has come down to 2.2 times, from 3.3 times earlier.
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“Adani Group Liquidity at All Time High…”
Due to excellent performance, Adani Group’s liquidity has reached an all-time high and cash balance stands at ₹59,791 crore. The group chairman said that this performance shows our stability. As a result, our companies’ ratings and outlook have been upgraded. Currently Ambuja, ACC and Adani Port are AAA rated companies.
This year has also been a great year for the group’s parent company, Adani Enterprises Limited (AEL).
Gautam Adani told shareholders that the growth rate of passengers at our airport has been in double digits and has reached 8.86 crore. We were also fortunate that the state-of-the-art Terminal 3 at Lucknow International Airport was inaugurated by Prime Minister Narendra Modi.
“Greenfield Copper Refinery Commences Operations…”
Mundra-based Kutch Copper Limited, under AEL’s portfolio, has started operations at its greenfield copper refinery. Gautam Adani said that our aim is to make it the world’s largest copper smelter at one location by the end of this decade. It will have a capacity of one MMTPA. This will help India become self-sufficient in its metal needs.
“It was also a great year for Adani Port…”
It has been a great year for Adani Port as well. 420 MMT of cargo was handled by the company. The Chairman said that 10 of our ports have achieved record cargo volumes. We have acquired Gopalpur and Karaikal ports, which have further strengthened our position in the region.
In renewable energy, Adani Green Energy has raised its target to 50 GW for FY 2029-30 from 45 GW earlier. This year the company has added 2.8 GW of capacity, which is 15 percent of the total additional capacity added in India.
Gautam Adani further said that the world’s largest renewable energy plant Khawra has commissioned its first two GW in 12 months, demonstrating the group’s capabilities.
“Adani Total Gas’s CNG Station Network Crosses 900…”
Adani Total Gas’s CNG station network has crossed 900. At the same time, PNG connections have increased from 8.45 lakh to 9.76 lakh. Apart from this, 606 new EV charging points have been installed. Apart from this, the first phase of India’s largest biomass plant Barsana has also been completed.
Also, with the acquisition of ACC and Ambuja Cement, the company has increased production capacity from 67.5 MTPA to 79 MTPA. At the same time, EBITDA per tonne has doubled since the acquisition.
“Ambuja Cement Largest Supplier for Mumbai Trans Harbor Link…”
Gautam Adani said that our aim is to increase the cement production capacity to 140 MTPA by 2028. We are proud to share that Ambuja Cement is the largest supplier for the 21.8 km long Mumbai Trans Harbor Link.
The group’s media company NDTV is also doing well. Along with digital, the company’s regional reach has also increased. Its global digital traffic grew by 39 percent. Gautam Adani said that considering the quality of the programme, we have invested in next generation digital infrastructure. Along with this, new facilities have been added in Mumbai and Delhi NCR.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani group company.)