Adani Group targets Rs 90,000 crore EBITDA in 2-3 years on the back of robust business growth

26 Jun 2023 , 11:31 AM

According to a company note, the struggling Adani group is targeting a 20% year-on-year increase in pre-tax profits to reach Rs 90,000 crore EBITDA in 2-3 years on the back of robust growth in businesses ranging from airports to energy.

Earlier this month, the company made loan repayments totaling $2.65 billion as part of a prepayment initiative aimed at reducing overall debt and regaining the trust of investors following a critical report by a US short seller.

The ports-to-energy conglomerate is now expecting solid growth in sectors such as airports, renewables, cement, transportation, solar panels, logistics, and power and transmission, according to the company. Additionally, the statement mentioned that a number of Adani’s recent infrastructure investments are expected to start generating cash flow in the coming years.

In recent years, the company has made significant investments in ports and completed major projects in renewables, ports, and transportation.

Adani’s Airports and renewable energy businesses are also reporting improved cash flows. Adani has established a strong foundation of assets over a span of thirty years, which encompasses resilient critical infrastructure. This asset base is designed to maintain high performance throughout their life cycles.

Adani experienced a noteworthy year of advancement in the previous year, with its portfolio exhibiting strong growth of 3. Simultaneously, the company implemented an effective debt reduction strategy, as evidenced by the improvement in its net debt to EBITDA ratio.

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