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BUSINESS EYE DECEMBER 22, 2023 | The Indian Eye 36

Adani Portfolio shows a record-breaking

growth of 47 percent for first half of 2023

Adani Group pledges to increase ten-fold the conglomerate’s investment in Bihar, besides

foraying into new sectors in which they did not have a footprint in the state

OUR BUREAU
Mumbai/Patna

n a massive positive sign, Adani Portfolio un-
veiled its financial performance for the first half
Iof the fiscal year 202, reporting a record-break-
ing 47 per cent year-on-year (YoY) growth in
EBITDA, reaching RS 43,688 crore (USD 5.3
billion). According to a press release by Adani,
this achievement marks the highest-ever half-year
growth for the diversified business conglomerate,
emphasizing the resilience and robustness of its in-
tegrated business portfolio.
The first half of FY23 witnessed substantial
EBITDA growth, exceeding the full-year EBIT-
DA of FY22. The trailing twelve-month EBIT-
DA reached approximately three times the FY19
EBITDA. Core infrastructure businesses, contrib-
uting 86 per cent of the total EBITDA, exhibited
an impressive 52 per cent YoY growth, amounting
to RS 37,379 crore (USD 4.5 billion).
These core businesses include utility (Adani
Green Energy, Adani Energy Solutions, Adani
Power, and Adani Total Gas), transport (Adani
Ports and SEZ), and other incubating infrastructure
ventures under Adani Enterprises (green hydro-
gen integrated manufacturing, airports, and roads). Bihar Chief Minister Nitish Kumar felicitates Director Adani Group Pranav Adani during the Bihar Business Summit 2023
Incubating assets, including Airports, Green
Hydrogen, and others, contributed around 8 per in Patna on Thursday (ANI)
cent to the portfolio EBITDA. Notably, the low-
cost green hydrogen integrated manufacturing Singh said, “The incubation continues to be storage capacity from 1 lakh square feet to 65 lakh
reported a remarkable 212 per cent YoY revenue a success story with Airports, Green Hydrogen square feet, with an investment of Rs 1,200 crore.
growth and a 10x increase in EBITDA. and other incubating assets emerging strongly and “Two large-size godowns will come up in the state,
The airports business under Adani Enter- now contributing nearly 8 per cent of the portfolio one of which will be set up in the capital city Pat-
prises experienced a 29 per cent YoY growth in EBITDA. The Portfolio has withstood the test of na,” the official said.
passenger traffic during the first half, resulting in time and has a track record of tremendous growth Further in his address, Pranav Adani said
a 42 per cent revenue growth. The cement busi- in spite of macroeconomic and other challenges.” the group wants to expand its city gas network in
ness (Ambuja and ACC) showcased impressive According to a press release by Adani, the fi- Gaya and Nalanda with an estimated investment
performance with H1 FY24 EBITDA more than nancial achievements and strategic initiatives un- of Rs 200 crore. Adani Wilmar, the conglomerate
doubling YoY despite single-digit volume growth, derscore Adani Portfolio’s commitment to fortify- FMCG company, will make its mark in the eastern
reflecting cost and operational synergy benefits. ing India’s infrastructure development. state. “Initially, we will start with wheat processing
Adani Green Energy reported a significant In another important development, the Adani unit, a solvent extractor unit, and a co-generation
milestone with a 76 per cent YoY EBITDA growth, Group on Thursday pledged to increase ten-fold power unit,” he said.
reaching RS 8,325 crore (USD 1 billion) on a trail- the conglomerate’s investment in Bihar, besides During the event, the Adani Group represen-
ing twelve-month basis. Adani Ports and SEZ foraying into new sectors in which they did not tative also announced it will invest Rs 2,500 crore
achieved a noteworthy milestone as domestic car- have a footprint in the eastern state. Address- for cement manufacturing plants in Warisaliganj
go volumes surpassed the 200 MMT mark within a ing Bihar Business Connect 2023, Pranav Adani, and Mahabal. The third area in which the con-
six-month period, leading to over 2x growth com- Managing Director (Agro, Oil and Gas) of Adani glomerate wishes to enter is smart meter manu-
pared to the overall cargo volume growth in India. Enterprises, said the group intends to raise its in- facturing. “Now Bihar is shifting towards smart
Jugeshinder (Robbie) Singh, Group CFO, ex- vestment in the state to Rs 8,700 crore from the meters. We will install more than 28 lakh smart
pressed satisfaction with the incubation’s success current Rs 850 crore. meters across Siwan, Saran, Gopalganj, Vaishali,
and the diverse contributions from various sectors “We will invest in three additional areas and and Samastipur to bring in automation in the pow-
within the portfolio. He emphasized the portfo- generate 10,000 direct and indirect employment er sector,” he said.
lio’s consistent growth even in the face of macro- opportunities,” Pranav Adani said on the occasion. The investments in smart meter manufactur-
economic challenges. The Adani Group aims to raise its godown ing would be about Rs 3,100 crore.

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