Adani Group Balance Sheet, Cashflows Continue To Get Stronger: Gautam Adani

Adani Group balance sheet, assets, operating cashflows continue to get stronger, Gautam Adani, Chairman of the Adani group said while addressing shareholders at the Annual General Body Meeting (AGM).

"The pace of acquiring businesses and turning them around is unmatched across India. National and international partnerships are proof of our governance standards. The scale of international expansion has been validated by success in Australia, Israel, Bangladesh and Sri Lanka," Gautam Adani said.

According to him, Adani Group of companies have set new financial performance records for FY 22-23. Revealing details of the same, Adani said that the total EBITDA grew by 36% to Rs 57,219 crore, while total income grew by 85% to Rs 2,62,499 crore, and total net profits grew by 82% to Rs 23,509 crore.

"The Group's accelerating cashflow further improved our net Debt to run rate EBIDTA ratio from 3.2x to 2.8x. Of our several projects underway, few key ones include Navi Mumbai Airport and copper smelter. New business accounted for 50% of Adani Enterprises' FY23 EBITDA. We reaffirm the target of 45 GW renewable energy capacity by 2030. Adani Group is set to play a critical role in India's net zero journey," he stated.