Adani informs stock exchanges, its earnings growing at double rate of debt in last decade
Feb 14, 2023
New Delhi [India], February 14 : Adani Group on Tuesday informed the stock exchanges that its earnings have been growing at double the rate of its overall debt in the past decade.
In a Stock Market filing, the Group said, "Since 2013, our EBITDA has grown consistently at a CAGR of 22 per cent. At the same time, our debt has grown at a CAGR of only 11 per cent."
On its much-talked-about financing model for its key infrastructure projects in the country, the Group said that these have been financed through a conservative mix of debt and equity consistent with global standards of infrastructure finance.
"Our portfolio assets of more than Rs 3,70,000 Cr yield a Run-Rate EBITDA of over Rs 60,000 Cr, which places Adani among the most profitable large-scale infrastructure and real asset platforms in the world. We have financed these assets through a conservative mix of debt and equity consistent with global standards of infrastructure finance," the Group said.
Adani Group shares have been affected adversely following the report by Hindenburg which also alleged that the group is overburdened with debts.
"Our total net debt is at around Rs 1,96,000 Cr, which translates to a Net Debt to Run-Rate EBITDA ratio of 3.21x", the Group said while refuting the charges by the reports.
Meanwhile, Adani Group's flagship Adani Enterprises today reported a consolidated net profit of Rs 820 crore for the October-December 2022 quarter, as against a loss of Rs 11.63 crore a year ago. The company's revenue from operations has increased 42 per cent to Rs 26,612.2 crore from Rs 18,757.9 crore last year.
