Adani portfolio’s record profit growth, robust credit profile set stage for unrivalled green investments. In line with our commitment to upholding the highest standards of transparency, we are pleased to release the Adani portfolio’s results, credit and ESG compendium. It offers insights into the quarterly and trailing twelve-month (TTM) financial performance of the portfolio, reinforcing our dedication to providing clear and detailed information to stakeholders and the public.
The performance of the past 12 months reveals the strength of the Adani portfolio that can thrive under diverse external circumstances. With surging cashflows from consistently rising profits and conservative leveraging, the portfolio is well-poised to propel strategic investments on an unprecedented scale.
Portfolio Performance for Q3 FY24 and Dec 23’ Trailing-Twelve-Months
· Record growth: With a record quarterly EBITDA growth of 63.6% YoY, the TTM EBITDA as of 31 December, 2023 reached INR 78,823 crore (USD 9.5 Bn) — 2.5x FY21 EBITDA.
· Core infrastructure: The growth was powered by the highly stable core infrastructure platform. Growing at 35.5%, it generated INR 66,208 crore (USD 8 Bn) — 84% of portfolio EBITDA.
· Ratings: Domestic and international rating agencies, including S&P Global and Moody’s, have upgraded or positively revised the outlook for all key portfolio companies.
· Conservative leveraging: The portfolio continues to remain conservatively leveraged with i) Net Debt to EBITDA as low as 2.5x; ii) Debt coverage of 2.1x; and iii) Gross Assets to Net debt at 2.5x — as on 30 September, 2023.
· Liquidity position: High liquidity is maintained with a healthy cash balance of INR 44,572 crore (USD 5.4 Bn) — at the end of 31 December, 2023.
· Market access and investments: Higher ratings and healthy cash flows have allowed continued market access, facilitating substantial investments in the year-to-date (1 April, 2023-31 December, 2023). During this period, various portfolio companies have drawn funds worth INR 91,290 crore from various sources, including international and domestic banks, and others.
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