February 14th, 2023 09:47 pm | Updated February 15, 2023 08:13 AM IST – Mumbai/Ahmedabad
A model of the new generation anti-radiation missile Rudram-1 displayed at the exhibition stall of Adani Defense and Aerospace on the second day of Aero India 2023, at Yelahanka Air Base, in Bengaluru on February 14, 2023. Photo Credit: AP
Adani Group flagship Adani Enterprises Ltd (AEL) on Tuesday said group companies did not face any material refinancing risk or near-term liquidity issues in the wake of “…Charges made by a short seller on the core and some other entities of the Adani Group” and termed the recent fall in its share prices as “temporary market volatility”.
“The management of Parent has internally assessed the impact of such allegations and has represented to us that there is no material impact on the financial position and performance of Parent and its subsidiaries for the quarter,” it said. couple.
AEL also reported a net profit of ₹820 crore in the third quarter, as against a net loss of ₹12 crore in the year-ago period, with total income up 42% to ₹26,951 crore due to a strong performance by its ‘Adani New’ Went. industry, airport and integrated resource management business’, the company said in a filing.
Detailing the financial performance and credit rating of the group’s listed entities, AEL in a separate filing said, “The success of the group is due to its strong governance, strict regulatory compliance, consistent performance and solid financials, which balances growth and deleveraging.” Is.”
It added that the group’s businesses operate on long-term annuity contracts and generate assured and consistent cash flows without any market risk.
“Our portfolio assets of over ₹3,70,000 crore generate run-rate EBITDA of over ₹60,000 crore, placing Adani among the most profitable large-scale infrastructure and real asset platforms in the world,” it Claimed. “We have financed these assets through a conservative mix of debt and equity in line with global standards of infrastructure finance. Our total net debt is approximately ₹1,96,000 crore, which translates to a net debt to run-rate EBITDA ratio of 3.21x.
AEL said that since 2013, group EBITDA has consistently grown at a CAGR of 22%, while debt has grown at a CAGR of only 11%.
“Over the past three decades, as well as quarter after quarter and year after year, Adani Enterprises has not only validated its position as India’s most successful infrastructure incubator, but has also demonstrated a track record of building core infrastructure businesses Has done,” said Chairman Gautam Adani. in the statement.
“Our fundamental strength is at par with the best in the world in mega-scale infrastructure project execution capabilities, organizational development and exceptional O&M management skills,” he added.
Mr. Adani said, “As a classical incubator with a vision of long-term value creation, AEL will continue to operate with the twin objectives of moderate leverage and seek strategic opportunities for expansion and growth.”