In a bid to set the stage for the next phase of exponential growth, the Adani Group is aiming to invest about $14 billion (nearly Rs 1.2 lakh crore) across its portfolio of companies in the next fiscal year (FY25).
According to sources, the Group will invest $14 billion in the portfolio, ranging from green energy, airports, cement, commodities, etc in the next financial year.
Adani Group Founder and Chairman Gautam Adani has already said he will invest an estimated $100 billion into India’s green energy transition over the next 10 years, with plans to scale up to 10 GW of solar manufacturing capacity by 2027.
According to sources, the projected capex (capital expenditure) for the fiscal year 2024-25 is 40 per cent higher than what the Group companies are estimated to have incurred in the current fiscal year.
More than 70 per cent of the capex will go into its green portfolio like renewable power and the rest will be utilised for building key infrastructure like world-class airports.
The Adani Portfolio of companies had reported a record quarterly profit growth of 63.6 per cent (year-on-year), as trailing 12-month EBITDA (as of December 2023) stood at Rs 78,823 crore ($9.5 billion), which is 2.5 times the EBITDA in FY21 and 37.8 per cent higher than FY23 EBITDA.
The company said that high liquidity is maintained with a healthy cash balance of Rs 44,572 crore ($5.4 billion) at the end of December 31, 2023.
The core infrastructure platform generated Rs 66,208 crore ($8 billion) EBITDA over the last 12 months -- up 35.4 per cent YoY, the company had said in a statement.
The record profit came as domestic and international rating agencies, including S&P Global and Moody’s, have upgraded or positively revised the outlook for all key Adani portfolio companies.
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