New Delhi:
Gautam Adani, Chairman of Adani Group, today said that India is no longer at the crossroads of destiny, but on the brink of its greatest growth phase. Addressing shareholders at the company’s Annual General Meeting (AGM), Mr Adani also highlighted the group’s various projects that align with India’s ambitious growth plans.
Here are the key highlights from Gautam Adani’s speech at the AGM:
Financial Triumphs In Last Year
The Adani Group reported several financial achievements for the fiscal year 2023-24, underscoring its robust operational capabilities and strategic foresight. Notably, the Group achieved:
- EBITDA: A record-breaking Rs 82,917 crore, marking a 45% increase.
- Profit After Tax (PAT): Soared to Rs 40,129 crore, reflecting a 71% growth.
- Debt Management: Successfully reduced net debt to EBITDA ratio from 3.3x to 2.2x.
- Liquidity: Boasted a cash balance of Rs 59,791 crore, securing ample resources for future expansions and investments.
Operational Highlights
Across its diversified portfolio, the Adani Group demonstrated operational excellence:
- Adani Ports & SEZ: Handled a record-breaking 420 MMT of cargo, surpassing previous benchmarks and solidifying its position as India’s premier ports and logistics provider.
- Adani Green Energy: Expanded renewable energy capacity aggressively, aiming to achieve 50 GW by FY 2029-30, with the world’s largest renewable energy installation at Khavda leading the charge.
- Adani Power: Increased operating capacity to 15,250 MW, including a landmark ultra-supercritical thermal power plant at Godda, the first to export all its power to a neighboring nation.
- Adani Total Gas: Expanded infrastructure significantly, with over 900 CNG stations and a growing network of PNG connections, enhancing access to clean energy solutions nationwide.
Strategic Vision
Looking ahead, Gautam Adani emphasized the Group’s strategic alignment with India’s ambitious growth trajectory. With the government’s increased focus on infrastructure development and a projected CAGR of 20-25% in infrastructure spending, the Adani Group stands poised to capitalize on upcoming opportunities.