NEW DELHI: Adani Group Chairman Gautam Adani, at the Annual General Meeting (AGM) of Adani Enterprises (AEL) on Tuesday, said he knows of no company today, except his that has such a unique business model with potential access to an unlimited B2B (business to business) and B2C (business to consumer) market for the next several decades.
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. “We were able to raise billions of dollars from the international markets – a direct validation of confidence in the India and Adani growth story. 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 m-cap has been supported by robust and sustained growth in their cash flows. Adani group’s combined borrowings grew 40.5% to about Rs 2.21 lakh crore in the financial year 2021-22. “Our focus on operational excellence across the portfolio and the accretive capacity addition delivered an EBITDA growth of 26%. Portfolio EBITDA stood at Rs 42,623 crore.
This diversified growth in FY22 was reflected across a 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, our incubator business, grew by 45%. AEL’s unique business model has no parallel and we intend to leverage this further,” said Adani, Asia’s richest man. On its foray into renewable energy space, Adani said its plan to invest $ 70 billion in clean energy will act as a facilitator for India’s green energy transition.
Growth of Adani group, m-cap rise
Adani’s declaration comes as the over $200 bn Group continues to expand into newer biz and continue to win giant contracts. He said the Group’s rising m-cap has been supported by sustained growth in cash flows