The Adani Group companies' leverage fell to a multi-year low during the first quarter of the current financial year due to their robust risk response framework.
The leverage—net debt to Ebitda—stood at 2.2 times as of March 31, 2024, led by Adani Total Gas Ltd. and Adani Power Ltd. with a leverage of 0.87 times and 1.35 times, respectively.
Significant debt—about 62% of the portfolio's total term debt—is in the leverage ratio range of 0 times to 2.5 times, the group stated in a presentation. The duration risk matched the underlying long-dated nature of contracted cash flow generation across the portfolio, it said.
Adani Green Energy Ltd. and Adani Energy Solutions Ltd. had the highest leverage of 4.45 times and 3.58 times, respectively.
A couple of weeks back Adani Energy raised Rs 8,373 crore through qualified institutional placement and said that the proceeds for investment in transmission assets and smart metering business.
The Adani Group companies saw a strong first-quarter performance fuelled by growth in their emerging businesses, including solar and wind manufacturing, airports, and roads.
Billionaire Gautam Adani-led conglomerate's net profit for the first quarter of fiscal 2024–25 surged by 50.1% to Rs 10,279 crore on a year-on-year basis. Operating income, or earnings before interest, taxes, depreciation, and amortisation, was up 32.9% year-on-year to Rs 22,570 crore.
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