Core Infrastructure Businesses Aid Adani Group's June Quarter Cashflows
Core infrastructure businesses contributed 86% of the total operating profit of the conglomerate.
Adani Group has reported a robust performance in quarter ended June, marked by growth across its diverse portfolio. The conglomerate's operating profit for the quarter surged 32.9% to Rs 22,570 crore, and net profit saw an increase of 50.1% to Rs 10,279 crore on annual basis.
The trailing twelve-month earnings before interest tax depreciation and amortisation or Ebitda also grew by 44.9% to Rs 79,180 crore. Notably, core infrastructure businesses contributed 86% of the total Ebitda. Meanwhile, emerging infrastructure sectors, including new energy, airports, and roads, experienced a 70% rise in Ebitda to Rs 2,991 crore.
In terms of debt management, Adani Group's net debt to Ebitda ratio as on March 2024 improved to 2.2 times, the lowest in several years. Net debt was reported at Rs 1.82 lakh crore, with gross debt at Rs 2.41 lakh crore, while cash reserves represented over 20% of borrowing, reflecting a strong liquidity position.
Key Highlights Across Divisions
Sector-specific achievements highlight Adani Enterprises’ advancement in solar manufacturing, with the company becoming India's largest vertically integrated solar PV manufacturer, company said in its press release.
The airports business saw record passenger movement, surpassing 90 million annually, with new routes and airlines contributing to growth. The roads sector achieved a record 730 lane-km of construction during the quarter.
Adani Green Energy began construction on a 500 MW hydro pump storage project and expanded its capacity to 11.2 GW with additional wind capacity.
Adani Energy Solutions commissioned significant transmission lines, enhancing green power evacuation and grid stability.
Adani Ports & SEZ marked the formal commissioning of Vizhinjam Port, set to become operational in November with advanced container-handling technology.
Additionally, Adani Cements saw significant investments, including Rs 15,000 crore infused into Ambuja Cements and the acquisition of Penna Cement, boosting total capacity to 89 MTPA.
