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Record EBITDA growth for Adani companies in FY24 – Industry News
The Adani Group recorded its highest-ever EBITDA of Rs 82,917 crore in financial year 2024, a 45% increase over the year-ago period, with 84% of this coming from its core infrastructure businesses.
The core infrastructure and utility platform generated Rs 69,337 crore of total EBITDA, while its base grew to over 350 million consumers. This is providing “highly predictable” cash flow generation for the group, according to the Adani Portfolio Credit and Earnings compendium for FY24.
The group’s cash profit from funds flow from operations (FFO) increased 51% year-on-year to Rs 56,828 crore. Its total gross assets increased by Rs 65,901 crore or 16% to Rs 4.78 trillion.
Equity applied to total assets is the highest ever at 62% compared to 55% in FY23, it said.
With growing cash flows and improved credit profiles, Adani Group companies are in a “stronger position than ever” to accelerate growth investments,” he added.
The increase in the group’s monetary profit significantly reduced net leverage. Its net debt to EBITDA fell to 2.2 times from 3.3 times at the end of FY23. Cash reserves of Rs 59,791 crore at portfolio level increased by 48.5% year-on-year and represented 24.8% of gross debt, he said.
Of the total debt, exposure to national banks stood at 36%, national capital markets at 5% and 26% to the global banking sector. Marketplace. Exposure to the global capital market was 29% and the balance of 4% is with others, he added.
From FY19 to FY24, Adani portfolio’s gross assets grew at a CAGR of 25%, while EBITDA grew at 27% CAGR and in comparison, net debt increased at 14%, it said. The five-year CAGR for profit growth was 54%.