Adani Group, India’s largest critical infrastructure developer, has released the FY23 Adani Portfolio Earnings Snapshot Compendium.
The group, whose interests range from ports to airports, from power generation to transmission and distribution, from edible oil to FMCG products, logistics, cement and roads, reported its highest-ever EBITDA of 57,219 crore at the group portfolio level (all group companies combined). , which corresponds to growth of 36 percent over the previous fiscal year.
In run rate EBITDA, which takes into account the annualization of EBITDA from projects commissioned during the year, the figure is up to Rs. 66,566 crore.
“Adani portfolio companies are engaged in utility and infrastructure businesses, with more than 83 percent of EBITDA generated from core infrastructure businesses, ensuring safe and consistent cash flow generation.
“The platform has a strong asset base built over three decades that supports resilient critical infrastructure and guarantees best-in-class asset performance throughout its lifecycle,” the compendium states.
The Adani portfolio update also states that there is no significant refinancing risk and no short-term liquidity needs as there is no significant short-term maturity of the debt.
In addition, rating affirmations from international and domestic rating agencies indicate underlying credit quality with an adequate financial profile, with many companies having an underlying rating of BBB, although this remains constrained by sovereign ratings.