Last updated on December 20th, 2023 at 11:28 am
Adani’s Strong Growth: EBITDA Soars 47% YoY in H1FY24
Newzdaddy Business Updates
A Robust Half-Yearly Performance
Adani Portfolio has reported an exceptional financial performance in the first half of fiscal year 2024, showcasing a remarkable 47% year-on-year growth in EBITDA, reaching a record-breaking INR 43,688 crore (USD 5.3 billion). This surge is a testament to the resilience and stability of the core infrastructure businesses that make up the portfolio.
Diverse Portfolio, Consistent Growth
Adani’s integrated business portfolio, focusing on fortifying India’s infrastructure development, has seen substantial cash flows, laying a solid foundation for sustained future growth. Core infrastructure businesses, providing predictability and stability, contributed a significant 86% to the total EBITDA.
Financial Strength and Liquidity Boost
With a Trailing Twelve-Month EBITDA of Rs 71,253 crore (USD 8.6 billion), almost three times that of FY19, and a remarkable liquidity position boasting the highest-ever Cash and balances of Rs 45,895 crore (USD 5.5 billion), Adani Portfolio is positioned for continued success.
Adani Portfolio has unveiled its outstanding financial performance for the first half of fiscal year 2024, achieving a record-breaking EBITDA of INR 43,688 crore (USD 5.3 billion). This impressive growth of 47% year-on-year is a reflection of the strength and resilience embedded in the diversified portfolio.
H1 FY24 Highlights: A Testament to Growth
During the first half of fiscal year 2024, Adani’s portfolio of companies showcased robust financial performance, enhancing its credit profile significantly. The EBITDA at the portfolio level surged to INR 43,688 crore, marking a substantial 47% year-on-year growth that outpaced the historical five-year Compound Annual Growth Rate (CAGR) of 26.3%.
Financial Strength and Core Infrastructure Contributions:
A notable aspect of this achievement is the core infrastructure businesses’ impressive performance, contributing a staggering 86% to the total EBITDA. These businesses, including Adani Green Energy, Adani Energy Solutions, Adani Power, Adani Total Gas, and Adani Ports & SEZ, demonstrated a remarkable 52% year-on-year growth, reaching INR 37,379 crore (USD 4.5 billion).
Business-Wise Highlights:
Adani’s strategic investments in diverse sectors paid off, with the incubating assets under Adani Enterprises contributing 8% to the overall EBITDA. The low-cost green hydrogen integrated manufacturing reported a remarkable 212% year-on-year revenue growth and 10x EBITDA growth. Airports business under Adani Enterprises witnessed a 29% year-on-year growth in passengers, resulting in a 42% growth in revenue.
Milestone Achievements:
Adani’s cement business (Ambuja & ACC) showcased operational synergy benefits, doubling its H1 FY24 EBITDA year-on-year despite single-digit volume growth. Adani Green Energy reported a milestone EBITDA of INR 8,325 crore (USD 1 billion) on a trailing twelve-month basis, marking a 76% year-on-year growth.
In another significant achievement, Adani Ports & SEZ surpassed the 200 MMT mark for domestic cargo volumes within six months, growing at over 2x of the overall cargo volume growth in India.
Adani Portfolio’s success story reflects its resilience in navigating economic challenges, establishing itself as a key player in India’s infrastructure development. With diversified and strategically invested businesses, Adani is poised for sustained growth and continued success in the coming years.
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