The Adani Group has made its entries in several sectors from data center, digital super apps and industrial clouds, to defence and aerospace, metals and materials, Gautam Adani said.
The Adani Group’s combined market capitalisation has breached $200 billion this year, Gautam Adani, the chairman of the business conglomerate said on Tuesday, July 26. The group made its entries in several sectors from data center, digital super apps and industrial clouds, to defence and aerospace, metals and materials – -aligned with the government’s vision of Atmanirbhar Bharat, he said.
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Addressing the annual general meeting of the Adani Group, Gautam Adani highlighted the business’ achievements so far. “We have become the largest airport operator in the country in last year. The successful Adani Wilmar IPO has helped in making the company the largest FMCG company in the country,” he said.
Adani said that the group has won some of the largest road contracts in
the nation, growing its “already substantial” market share in business such as ports, logistics, transmission and distribution, city gas and piped natural gas. “And following the acquisition of Holcim’s assets in India that include two of the most recognised brand names across the country – ACC and Ambuja Cements – we are now the second largest cement manufacturer in India. This is a classic example of our adjacency-based business model at work,” he added.
“Our combined Group market capitalisation this year exceeded US$ 200 billion. We were able to raise billions of dollars from the international markets – a direct validation of confidence in the India and Adani growth story,” he said. the Adani Group chairman also said that several foreign governments were now approaching them 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.
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The Adani Group’s market capitalisation has been supported by a robust and sustained growth in its cash flows, Gautam Adani said. Our focus on operational excellence across our portfolio and the accretive capacity addition delivered an EBITDA growth of 26 per cent,” he added.
The conglomerate’s portfolio EBITDA stood at Rs 42,623 crores, Adani firther noted. “This diversified growth in FY22 was reflected across our range of businesses. Our utility portfolio grew by 26 per cent, our transport and logistics portfolio grew by 19 per cent, our FMCG portfolio grew by 34 per cent, and Adani Enterprises Limited, our incubator business, grew by 45 per cent. 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,” he said.
Noting that FY22 was a breakout year for the Adani Group, Gautam Adani said that his business never shied away from investing in India. “Never have we walked away from investing in India, never have we slowed our investments. We believe our scale, our diversified business, and our track record of performance positions us very strongly to continue to perform well in a variety of market conditions.”
Posing his hope on India’s growth story, Adani said, “It is the resilience that India demonstrates, it is the optimism I see in the eyes of our people, and it is the belief in the India growth story that keeps the Adani Group going.”
“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,” Gautam Adani said.
