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NRIPage | Articles | Adani Group Reports Record Performance and Reduced Debt Exposure | Get Indian Desi Latest Sports News & Updates in USA. Stay Ahead in Sports & Gaming Action - NRI Page
The Adani Group reported a record financial performance in the first half of the ongoing financial year and for the trailing twelve months, driven by its growing businesses in infrastructure, energy, and renewables. The group's net exposure to Indian banks stands at $11 billion, with equity now accounting for 63% of its total debt. This marks a reduction in the conglomerate's reliance on debt.
The strong growth in the first half was fueled by Adani Enterprises' solar and wind energy businesses, which have seen significant growth, and the group's core infrastructure operations, including utilities, transport, and power generation, which contributed 86.8% of the total EBITDA.
Key achievements for the group include:
Adani Enterprises: A 91% increase in solar module sales and significant progress in airport and infrastructure businesses.
Adani Green Energy: An operational capacity increase of 34% YoY, with new hydro storage projects underway.
Adani Energy Solutions: Expansion of its transmission network by adding 2,760 kilometers of new lines.
Adani Ports: A 9% YoY growth in cargo volume and successful acquisitions of new port assets.
Adani Power: Acquisition of Korba Power Ltd.
Adani Cements: Expansion with acquisitions of Penna Cement Ltd. and Orient Cement Ltd.
The group's financial position remains strong, with ample liquidity to service debt requirements for the next 12 months, and a reduction in net debt-to-EBITDA ratio to 2.46 times, well below the projected range of 3.5 to 4.5 times.
