The Adani Group has mentioned that its portfolio of companies has reported a first-quarter adjusted net profit surge of 50.1% to reach INR 10,279 crore over the year-ago period. The EBITDA for the quarter ending on June 30 reached 32.9% to reach INR 22,570 crore year-on-year. This growth was mainly powered by Adani Enterprises’ emerging businesses. This included solar and wind manufacturing, roads and airports, etc.
The Adani Group has also been actively involved in various mergers and acquisitions. This has led to a growth in its share values. The conglomerate has also been an active participant in various initiatives. It has expanded its boundaries in some of the major growth areas. This has further caused its business to witness enormous growth. It has also been able to take its business to new heights and bring about an end to the controversies surrounding the Adani Crisis.
The Growth in EBITDA:
As per the Adani Group, the trailing 12-month EBITDA of INR 79,180 crore grew by 44.9% year-on-year and the Quarter 1 EBITDA for its core infrastructure business increased by 41.6% year-on-year. This accounts for 86% of total EBITDA. Its core business mainly includes utility, transport, and infrastructure businesses. These are housed under Adani Enterprises. The company’s emerging infrastructure business includes airports, roads, and Adani New Industries Limited. These businesses also achieved overall growth. The EBITDA was INR 2,991 crore up by 70%. This enhanced profitability caused the Adani Group to recover from the Adani Crisis and continue its business operations without any hindrance.
The Increased Profitability from Various Portfolios:
The Adani Group has mentioned that its core infrastructure business comprises Adani Enterprises Limited infrastructure, utility and transport. The utility business is mainly taken care of by Adani Power, Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. The transport business is mainly used by Adani Ports and SEZ. The solar module manufacturing business’s solar module sales rose by 125% year-on-year in this quarter.
The operationalisation of photovoltaic cells having lower costs has again resulted in higher profitability for the group’s business. The Adani Group’s airport business has also witnessed strong growth. This was mainly because of increased passenger movement. The consumer offerings have also increased.The Navi Mumbai Airport is also currently under construction. Once it becomes fully operational, it will further add to the profitability of the Adani Group’s business.
Adani Enterprises’ performance strongly indicates that the annual passenger movement across 7 airports crossed 90 million for the first time during the quarters. 13 new flights and 8 new routes were also added to the Adani Group’s business. 25 new brands were also introduced at the Lucknow airport after Terminal 3 was inaugurated.
The group’s road business achieved the highest growth. It also completed its 730 lane-kilometer construction during this quarter itself. Adani Green Energy also achieved extraordinary milestones. The construction work for the 500 MW hydro pump storage has already started with a 31% year-on-year capacity addition during this quarter. Another 250 MW capacity has been operationalised at the Khavda renewable energy park. This has brought the energy park’s total capacity to 11.2 GW.
Adani Energy Solutions has recently stated that the Khavda-Bhuj Transmission Line (KBTL) has been fully commissioned. This has enabled the 3 GW of green power evacuation from Khavda. The 1,765 ckm Vadodara Kurnool transmission line was also fully commissioned. This has strengthened the national grid by ensuring seamless power flow between the southern and western regions.
Adani Ports and Special Economic Zone also reported that the Vizhinjam port has been equipped with highly advanced container handling technology. The port was commissioned in July. It will now become operational in November. This will give the Adani Group’s port business an extraordinary boost. It will also be able to carry out its business operations with enhanced ease and convenience.
The promoters also infused INR 15,000 crore into the Adani Group’s cement business. This was done by fully subscribing to the warrant program and infusing a total of INR 20,000 crore since the acquisition of Ambuja Cements in September 2022. The company has also recently acquired Penna Cement. This has increased the total capacity to 89 MTPA.
Conclusion:
The Adani Group will continue to carry out its incredible business ventures with full force. It will also be able to earn an extraordinary profit from its business. This will bring an end to the Adani Crisis. The firm’s credibility will also increase on a global scale.
