Stronger Than Ever: Adani Portfolio Delivers Record Performance

AHMEDABAD, India -- Businesswire -- In line with their commitment to upholding the highest standards of transparency, below is the Adani Portfolio’s Credit and Result compendium for financial year 2023-24.

The performance in FY24 and the past five years signify the strength and stability of the Adani Portfolio and the robustness of its businesses, which despite all external volatilities and headwinds, continue to deliver strong and consistent growth. It also highlights the superior capital allocation strategy that maximises returns and minimises risks.

Adani Portfolio reports strongest financial results till date

In FY24, the Adani Portfolio of companies rose to its best, showcasing resilience, strength and stability and delivering a record EBITDA growth of 45% . With surging cashflows and enhanced credit profiles, the Adani Portfolio is in a ‘ stronger than ever ’ position to accelerate growth.

· EBITDA: Consistently advancing EBITDA increased to USD 10 Bn with record 45% growth year-on-year , highest in the history of the Adani Portfolio. · Cash Profit or FFO: Cash Profit of Funds Flow from Operations (FFO) was at USD 6.7 Bn, registering a growth of 51% year-on-year, thanks to its disciplined investment strategy providing high conversion of EBITDA into cash profit. · Core infrastructure EBITDA: The core infra and utility platform generated USD 8.3 Bn or 84% of the total EBITDA . The user base of the platform increased to over 350 million , with a fast-growing consumer franchise across airports, electricity distribution, smart metering, gas distribution and direct to consumer digital platform. · Gross Assets: Total Gross Assets increased by USD 8 Bn or 16% and now stand at USD 57.4 billion. · Conservative leveraging: Rising cash profit lowered the net leverage significantly. Net Debt to EBITDA is down from 3.3x at the end of FY23 to 2.2x, notably lower than the industry benchmark. · Liquidity position: Cash reserves of USD 7.2 Bn at the portfolio level was the highest ever, up 48.5% from last year and was at 24.8% of gross debt. · Ratings: Predictable cashflows led to multiple rating upgrades across portfolio companies. Adani Ports and Special Economic Zone became the first largescale Indian infrastructure company to be rated ‘AAA’. Now, three listed portfolio companies — APSEZ, Ambuja Cement and ACC — have the highest INR rating of ‘AAA’. There are two ‘AAA’ rated entities under AESL, namely Alipurduar Transmission and Western Transmission. · Diversified funding sources: The Adani Portfolio debt profile represents a balanced exposure to domestic banking, global banking and capital markets. Of the total debt mix, domestic banking exposure stands at 36% and domestic capital markets at 5% whereas 26% is the exposure to the global banking market; the global capital market is at 29% and the balance 4% is with others.

For compendiums download:

https://www.adani.com/-/media/Project/Adani/Invetsors/Q4%20FY24%20Performance

About The Adani Portfolio of Companies

Headquartered in Ahmedabad, the Adani portfolio is the largest and fastest-growing portfolio of diversified businesses in India with interests in logistics (seaports, airports, shipping and rail), resources, power generation and distribution, renewable energy, gas and infrastructure, agro (commodities, edible oil, food products, cold storage and grain silos), public transport infrastructure, defence, and other sectors. Adani owes its success and leadership position to its core philosophy of ‘Nation Building’ and ‘Growth with Goodness’, a guiding principle for sustainable growth. The Portfolio is committed to protecting the environment and improving communities through its CSR programmes based on the principles of sustainability, diversity, and shared values.

Further information at www.adani.com

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