Adani Power commissioned 1.6 GW Godda power plant
In FY24, the Adani Group’s flagship Adani Enterprises commissioned an ingot wafer unit as part of solar module manufacturing, wind turbine facility and copper smelter http://adani.com .
As part of its expansion, Adani Cement also completed the Sanghi Cement https://www.worldcement.com/ acquisition while promoters infused more funds into the company.
Elsewhere within the group, Adani Ports acquired Gopalpur port, Adani Power commissioned a 1.6 GW Godda power http://powermin.nic.in plant, Adani Green added 2.8 GW renewable energy https://www.iea.org/ capacity and commenced operations of a solar power project in Khavda, Gujarat, and Adani Energy Solutions added 1,244 circuit kilometres of transmission lines.
“Adani Enterprises Ltd housing green hydrogen https://mnre.gov.in/ , airports business and Adani Green Energy Ltd implementing renewable power generation capacity witnessed the highest gross asset additions or 61% of the total gross asset added. The gains from these will reflect in FY25 earnings,” said Adani group.
It added that high liquidity is maintained with a cash balance at 24.8% of gross debt. A cash balance of Rs.59,791 crore (US$7.2 billion) provides benchmark liquidity cover.
Adani Group companies posted a record 45% rise in pre-tax profit (EBITDA) to Rs.82,917 crore (about US$10 billion) in FY24 as the apples-to-airport https://www.iata.org/ conglomerate made a massive comeback, the group said on 2 June.
Strong Asset Base built over three decades supporting resilient critical infrastructure https://www.conexpoconagg.com/ stands at Rs.478,137 crore (US$57 billion) – this asset base serves a consumer base of 350 million users.
“The performances for FY24 (2023-24 fiscal) and the past five years signify the strength and stability of Adani portfolio and the robustness of its businesses that despite all the external volatilities and headwinds continue to deliver strong and consistent growth year after year. It also highlights its superior capital allocation strategy that maximises returns and minimises risks https://www.ibef.org/ ,” the statement said .
From FY19 to FY24, Adani portfolio’s gross assets increased at a 25% CAGR, while EBITDA grew at 27% CAGR. In comparison, the net debt increased at only 14%. “This exhibits the group’s exceptional capability in efficiently deploying the capital,” it said https://attentionindia.com/ .
“In FY24, the Adani portfolio of companies rose to their best, delivering record EBITDA growth of 45% https://www.investindia.gov.in/ . With surging cash flows and enhanced credit profiles, Adani companies are in a ‘Stronger than Ever’ position to accelerate growth investments,” it added. fiinews.com
