Page 52 - Adani Group

Adani Group reports 13.7% rise in cash reserve to Rs 45,895 crore

Adani group companies have reported a 13.7 per cent rise in cash reserve to Rs 45,895 crore in the first half of the current fiscal as earnings across the business rose while debt was almost unchanged. In the half-year credit performance report, Adani said while EBITDA rose to Rs 71,253 crore in April-September this fiscal from Rs 57,219 crore a year back, gross assets increased 6 per cent to about Rs 4.5 lakh crore. Gross debt was almost unchanged at Rs 2.26 lakh crore, but after considering cash reserves, the net debt at Rs 1.80 lakh crore was 3.6 per cent less than Rs 1.87 lakh crore in April-September 2022. The group's flagship incubator Adani Enterprises Ltd and ports unit Adani Ports and Special Economic Zone were top EBITDA earners. The two also account for 37 per cent of the cash balance in the group. Adani Enterprises had the biggest debt of Rs 103,926 crore, followed by APSEZ Rs 99,901 crore and Adani Power Ltd Rs 91,742 crore. City gas firm Adani Total Gas Ltd had the .

Adani Energy Solutions incorporates Gujarat-based Sunrays Infra Space Two

Adani Energy Solutions on Thursday announced the incorporation of a wholly-owned subsidiary Sunrays Infra Space Two Limited on December 13, 2023. "Company has incorporated a wholly-owned subsidiary company in the name of Sunrays Infra Space Two Ltd (SISTL) on 13th December 2023," a BSE filing said. The authorised and paid-up share capital of Sunrays Infra Space Two Ltd is Rs one lakh each. It is incorporated by Adani Energy Solutions Limited for transmission, distribution and supply of power and other infrastructure services relating thereto. The equity shares are acquired at a face value of Rs 10 each for cash consideration with 100 per cent shareholding. The SISTL is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on December 13, 2023, and is yet to commence its business operations.

Adani Ports plans to issue $120 million rupee bond sale, first since 2021

Flagship Adani Enterprises Ltd. became the first of Indian billionaire Gautam Adani's firms to sell local-currency bonds, since being targeted by US short seller Hindenburg Research in January

Gautam Adani's copper foray may further tighten global supply of ore

India's imports of copper concentrate could grow to as much as 2 million tons in 2024, from 1.3 million tons estimated for this year, said Soni Kumari, commodity strategist at ANZ Banking Group

Adani Green Energy announces incorporation of step-down subsidiaries

Earlier this month. Adani Green also announced that it has sealed its largest project financing of a $1.36 billion senior debt facility

Dharavi revamp project: Maha Oppn attacks Shinde govt, alleges favouritism

Members of opposition parties in Maharashtra on Wednesday attacked the Eknath Shinde-led state government over the Dharavi redevelopment issue, accusing it of favouring the Adani Group but leaving the residents of the slum colony in the lurch. Mumbai Congress chief Varsha Gaikwad, who represents the Dharavi assembly constituency, Leader of Opposition in the legislative council Ambadas Danve from the Shiv Sena (UBT), and other legislators from the opposition parties raised slogans over the issue on the steps of the Vidhan Bhavan, the state legislature complex here. 'Dharavi vachva, laghu udyog vachva' (Save Dharavi, save small-scale industries) was one of the slogans raised by them. Dharavi, located in central parts of the country's financial capital, is a hub for several small-scale, unorganised industries that manufacture medicines, leather, footwear, clothes among other things. It is known as one of Asia's biggest slum clusters. After emerging as the highest bidder for the ...

Tata group companies, Larsen & Toubro top mcap gainers in market boom

The construction and engineering major Larsen & Toubro (L&T), however, tops in terms of percentage gains as the company added an additional Rs 2.4 trillion, or 49.1 per cent

Adani Group contractor probed by govt resurfaces under a new name

The contracting firm - Howe Engineering Projects (India) Pvt Ltd. - contains the core operations of a business called PMC Projects Pvt Ltd. that India's government alleged in 2014 was being used

Adani Ports to raise $600 million through non-convertible debentures

The company, which operates 13 ports and terminals in the country including its largest container handling port

Adani Group to invest $100 billion in the next decade for energy transition

The company said Adani portfolio businesses have an active strategy to decarbonise, pledge to plant 100 million trees by 2030, and undertake innovative pilot projects

Adani Green Energy to raise $410 million to refinance 2024 dollar bond

The refinancing plan for Adani Green's $500 million Dec. 10, 2024 bond, dated Dec. 8, fulfills a requirement laid out in the terms of the note

Adani Group Ebitda surges record 47% in first half to cross Rs 43,000 cr

Adani Group on Monday said pre-tax profit or EBITDA of its portfolio companies that span from apples to airports jumped 47 per cent in the first half of the current fiscal year to Rs 43,688 crore on growth across businesses. "Core infrastructure businesses that provide a high degree of predictability, stability and multi-decadal visibility contributed 86 per cent of total EBITDA," it said in a statement. Trailing 12-month EBITDA of Rs 71,253 crore (USD 8.6 billion) is around 3x of FY19 (April 2018 to March 2019 fiscal year) EBITDA. "The integrated business portfolio, which focuses on fortifying India's infrastructure development, has delivered a strong performance across all its businesses. The substantial cash flows from these businesses lay the foundation for sustained future growth," the statement said. The group had the highest-ever cash balances of Rs 45,895 crore (USD 5.5 billion) at the end of September. Headquartered in Ahmedabad, the Adani portfolio is the largest and ...

Rajiv Jain-led GQG's $10 billion India bet has winning picks beyond Adani

The value of India investments across six of GQG's funds jumped to $9.9 billion compared with $4.4 billion a year earlier, according to data compiled by Bloomberg

Adani group to spend Rs 7 trn in capex over next ten years across verticals

Adani group will spend Rs 7 lakh crore in capital expenditure over the next 10 years and its billionaire chairman Gautam Adani has shared some details of the plans which will further consolidate the conglomerate's position as infrastructure leader in India. Adani in posts on X, formerly Twitter, has over the last few days detailed 'green' initiatives of the investment plan across some verticals of the apples-to-airport conglomerate. "The portfolio recently announced its plan to invest over Rs 7 lakh crore over the next 10 years to consolidate its preeminent position as the largest infrastructure player in India," Adani Energy Solutions said in a stock exchange filing. While flagship Adani Enterprises Ltd incubates and develops new businesses spanning mining, airports, defence and aerospace, solar manufacturing, roads, metro and rail, data centres and resource management, its ports business is on a greening drive. "By 2025, we will set a national benchmark being the only carbon-neut

Adani's bond rebound almost erase losses incurred from Hindenburg report

The rebound suggests the conglomerate, once termed "deeply overleveraged" by research firm CreditSights, is finding favor with investors again

Bimal Dayal appointed as CEO of Adani Infra, will oversee energy projects

Adani Energy Solutions' transmission business chief Bimal Dayal has been appointed as the CEO of Adani Infrastructure India. Dayal will oversee the implementation of the pipeline of infrastructure projects in thermal, renewable energy and green hydrogen by Adani Infrastructure India, Adani Energy Solutions Ltd (AESL) said in a statement on Friday. The current management team of AESL led by Anil Sardana, Managing Director, and Kandarp Patel, who has been given charge of all verticals of AESL, will drive the ambitious growth of transmission, distribution and smart metre segments. The leadership changes have been made to support enhanced growth of Adani Infrastructure business, the statement said. This decision has been duly approved by the board of directors of AESL. "With this executive-level transition, the Adani portfolio of companies has taken another significant step towards strengthening their resolve to grow the infrastructure business at an aggressive rate of over 15 per cen

GQG Partners checks in at GMR Airports Infrastructure, buys 4.7% stake

Total 11.8% equity stakes changed hands in block deals

Adani Group to invest Rs 1,700 crore in cement sector in Uttarakhand

Besides, the Adani group will also invest Rs 1,400 crore to set up a new grinding unit in the state with a capacity of four million tonnes

Adani Green lays out plan for repaying $750 mn bond to restore confidence

Adani Green Energy Ltd., part of billionaire Gautam Adani's empire, will redeem the notes in full by the due date, it said in a filing to the Singapore stock exchange

Adani Electricity to provide 60% of renewable electricity to Mumbai by 2027

Adani Electricity supplied 100% renewable energy to its 3 million subscribers in Mumbai for 4 hours on Diwali