Global investment banks and financial services firms were bullish on India's largest infrastructure developer Adan Group after it posted a stellar performance in FY24.
Despite the blow from the short-seller report at the end of FY23, Adani Gru has emerged unfazed, showing solid resilience with its businesses and turning the 'setback' into a comeback.
The report said group EBITDA (a widely used profit parameter for infrastructure companies) recorded a 40 per cent year-on-year growth in FY24, with the leverage ratio at the group level at a multi-year low. Level improved.
“During FY24, the group focused on controlling debt, reducing founders' share pledge. Its total group EBITDA grew 40 per cent (y-o-y) in FY24; The group raised fresh money from equity and strategic investors, increasing stake in group companies, while debt and group market cap surged, the report said."The group is back in expansion mode and is eyeing capital expenditure of $90 billion over the next decade," it said.
Adani Enterprises is expanding its captive manufacturing capacity to start green hydrogen production by FY27.
“Navi Mumbai airport is likely to be operational by March FY2015; “Debt center projects are on the rise,” the report said.
Adani Ports recently published its five-year business road map, targeting 18 percent EBITDA CAGR over FY24-29E.
“Adani Ports' EBITDA is expected to grow at 16 per cent CAGR led by expansion and ramp-up, with the company targeting 1 billion tonnes of cargo volume by 2030 (15 per cent CAGR), the report said.,
Adani Energy Solutions' EBITDA growth of 16 per cent was driven by new lin additions, while Adani Total Gas' 27 per cent YoY growth was driven by 15 per cent volume growth and gross margin expansion due to lower gas costs.
At Ambuja Cements, management continues to guide doubling of cement capacity and growing unit EBITDA to an industry-leading Rs 1,450-1,500/t in FY28, according to a Jefferies report.
Despite the blow from the short-seller report at the end of FY23, Adani Gru has emerged unfazed, showing solid resilience with its businesses and turning the 'setback' into a comeback.
The report said group EBITDA (a widely used profit parameter for infrastructure companies) recorded a 40 per cent year-on-year growth in FY24, with the leverage ratio at the group level at a multi-year low. Level improved.
“During FY24, the group focused on controlling debt, reducing founders' share pledge. Its total group EBITDA grew 40 per cent (y-o-y) in FY24; The group raised fresh money from equity and strategic investors, increasing stake in group companies, while debt and group market cap surged, the report said."The group is back in expansion mode and is eyeing capital expenditure of $90 billion over the next decade," it said.
Adani Enterprises is expanding its captive manufacturing capacity to start green hydrogen production by FY27.
“Navi Mumbai airport is likely to be operational by March FY2015; “Debt center projects are on the rise,” the report said.
Adani Ports recently published its five-year business road map, targeting 18 percent EBITDA CAGR over FY24-29E.
“Adani Ports' EBITDA is expected to grow at 16 per cent CAGR led by expansion and ramp-up, with the company targeting 1 billion tonnes of cargo volume by 2030 (15 per cent CAGR), the report said.,
Adani Energy Solutions' EBITDA growth of 16 per cent was driven by new lin additions, while Adani Total Gas' 27 per cent YoY growth was driven by 15 per cent volume growth and gross margin expansion due to lower gas costs.
At Ambuja Cements, management continues to guide doubling of cement capacity and growing unit EBITDA to an industry-leading Rs 1,450-1,500/t in FY28, according to a Jefferies report.
