NEW DELHI: Adani Group Chairman Gautam Adani, at the Annual General Meeting (AGM) of Adani Enterprises on Tuesday, said that no company has such a unique business model as that of his company with potential access to an unlimited B2B (business to business) and B2C (business to consumer) market for the next several decades.
Gautam Adani's declaration comes as the over $200 billion Group continues to expand its dominance into newer businesses with ease and the flagships continue to win giant contracts.
"Our combined Group market capitalization this year exceeded $200 billion. We were able to raise billions of dollars from the international markets – a direct validation of confidence in the India and Adani growth story. Our growth and success have been recognised around the world. Several foreign governments are now approaching us to work in their geographies and help build their infrastructure. Therefore, in 2022, we also laid the foundation to seek a broader expansion beyond India's boundaries," said Adani who also is Asia's richest billionaire.
He added that the Group's rising market capitalisation has been supported by robust and sustained growth in their cash flows.
"Our focus on operational excellence across our portfolio and the accretive capacity addition delivered an EBITDA growth of 26%. Portfolio EBITDA stood at Rs 42,623 crores. This diversified growth in FY22 was reflected across our range of businesses. Our utility portfolio grew by 26%, our transport and logistics portfolio grew by 19%, our FMCG portfolio grew by 34%, and Adani Enterprises Limited, our incubator business, grew by 45%. AEL's unique business model has no parallel and we intend to leverage this further. The high growth of AEL provides the Group with a reliable foundation for the continued development of new businesses for yet another big decade," said Adani.
He also noted that they continue to grow as builders of India's infrastructure, winning some of the largest road contracts in the nation and growing their already substantial market share in business such as ports, logistics, transmission and distribution, city gas and piped natural gas.
"Our successful IPO of Adani Wilmar makes us the largest FMCG company in the country. And following the acquisition of Holcim's assets in India that include two of the most recognised brand names across the country – ACC and Ambuja Cements – we are now the second largest cement manufacturer in India. This is a classic example of our adjacency-based business model at work. In addition, we have also made entries in sectors ranging from data centres, digital super apps, and industrial clouds to defence and aerospace, metals, and materials - all aligned with the Government’s vision of an Atmanirbhar Bharat," noted Adani.
On the Group's foray into renewable energy space, Adani said that their plan to invest $ 70 billion in clean energy will act as a facilitator for India's green energy transition.
"We are leading the race to turn India from a country over-reliant on import of oil and gas to a country that might one day become a net exporter of clean energy," he said.