Adani Group's mcap above $200 bn now

Ahmedabad: Gautam Adani, Chairman, Adani Group, said that the combined market capitalisation (mcap) of the group this year exceeded $200 billion (Rs 16.96 lakh crore).

"We were able to raise billions of dollars from the international markets, a direct validation of confidence in the India and Adani growth story. Our growth and success have been recognised 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 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. "Around these airports that we operate today we are engaged in the adjacent businesses of developing aero-tro-polises and creating localised community based economic centres. 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 business such as ports, logistics, transmission and distribution, city gas and piped natural gas," he said.

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 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. In addition, we have also made entries in sectors ranging from data centres, digital super apps, and industrial clouds to defence and aerospace, metals, and materials, all aligned with the government's vision of an Atmanirbhar Bharat,he added.

Gautam Adani said the group's rising market capitalisation has been supported by a 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 per cent. Portfolio EBITDA stood at Rs 42,623 crore. This diversified growth was reflected across our range of businesses."