Adani Group portfolio EBITDA grows 42 pc in Q1FY24

The Adani Group portfolio once again outperformed expectations with a record-breaking quarterly profit (EBITDA) of Rs 23,532 crore, or 42% more than the previous year. The conglomerate on Wednesday published the June quarter 2023–24 results compendium for its portfolio of listed companies.

EBITDA is net income before taking out interest, tax, depreciation, and amortization expenses.
The core infrastructure and utility platform, which generates stable and assured cashflows, accounted for 86 per cent of the total portfolio EBITDA and stood at Rs 20,233 crore.
This gives a high level of stability and multi-decadal earnings predictability and visibility. The robust profits have resulted in the portfolio gaining a very strong liquidity position. The cash balance at the end of June 2023 was Rs 42,115 crore, 4.2 per cent higher than a quarter ago.
The success of the incubation story continued under Adani Enterprises. Airports, green hydrogen and other businesses under the flagship incubator saw their profits almost double year-on-year. With an EBITDA of Rs 1,718 crore, these businesses contributed 7 per cent to the portfolio EBITDA.

The infrastructure, cement, and renewable energy businesses under Adani Enterprises, Adani Green, and Adani Cement, respectively, were the main contributors to the strong portfolio performance. EBITDA for Adani Green was Rs 2,200 crore, up 67% from the previous year. This came about as a result of a 43% increase in operational capacity to 8,316 MW. Due to cost reductions and improved synergies, the adjacent cement business also displayed strong operating results.