Gautam Adani, Chairman, of Adani Group, has said that the combined Group market capitalization this year exceeded $200 billion.
“We were able to raise billions of dollars from the international markets, direct validation of confidence in the India and Adani growth story. Our growth and success have been recognized 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,” he said at the annual general meeting (AGM) of Adani Enterprises Limited (AEL).
The success of the Adani Group is based on its alignment with the India growth story, and it is my strong conviction that there is no other nation that is as well positioned as India, said Gautam Adani.
“The best evidence which showcased our confidence and belief in the future is our investment of $70 billion in facilitating India’s green transition. We are already one of the world’s largest developers of solar power. Our strength in renewables will empower us enormously in the effort to make green hydrogen the fuel of the future. We are leading the race to turn India from a country over-reliant on the import of oil and gas, to a country that might one day become a net exporter of clean energy.
“While we now hold a major global renewable energies portfolio, we have made also remarkable progress in several other industries over the past 12 months. In one stroke, we have become the largest airport operator in India.
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“Around these airports that we operate today, we are engaged in the adjacent businesses of developing aero-too-polises and creating localized community-based economic centers. We continue to grow as builders of India’s infrastructure, winning some of the largest road contracts in the nation and growing our already substantial market share in businesses 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 which include two of the most recognized 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 centers, digital super apps, and industrial clouds to defense and aerospace, metals, and materials, all aligned with the government’s vision of an Atmanirbhar Bharat,” he says.
Gautam Adani said the group’s rising market capitalization has been supported by robust and sustained growth in our cash flows.
“Our focus on operational excellence across our portfolio and the accretive capacity addition delivered an EBITDA growth of 26 percent. Portfolio EBITDA stood at Rs 42,623 crore. This diversified growth was reflected across our range of businesses. Our utility portfolio grew by 26 percent, our transport and logistics portfolio grew by 19 percent, our FMCG portfolio grew by 34 percent, and Adani Enterprises Limited, our incubator business, grew by 45 percent. 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.
“While we may look back and feel content, it is only now that we are gathering real momentum. What we have been able to achieve in two decades, is become India’s largest integrated infrastructure business based on a rapid extension into adjacent businesses. This has resulted in our transformation into an integrated ‘platform of platforms’ that combines an energy platform with a logistics platform, both of which help us with unprecedented access to the Indian consumer. I today know of no company that has such an unique business model with potential access to an unlimited B2B and B2C market for the next several decades,” Gautam Adani said.
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