Adani Group crosses $100 billion in market cap in FY22

Adani Group Chairman Gautam Adani.

Adani Group listed entities crossed the market capitalisation of $100 billion collectively in the current financial year (FY22), conglomerate's chairman Gautam Adani said at the annual shareholders' meeting.

This was a first for a first-generation Indian company, Adani said in his address at the annual general meeting 2021, which was held virtually, on July 12.

"The performance of our listed entities propelled our portfolio to cross 100 billion dollars in market capitalisation in the very first week of this new financial year. This valuation milestone is a first for a first-generation Indian company," Adani said.

In FY21, the consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) of Adani Group's listed portfolio was over Rs 32,000 crore, up 22 percent year-on-year (YoY).

Track live market updates here

"All Adani stocks generated returns over 100 percent–and our businesses ensured that we returned close to Rs 9,500 crore to you, our equity shareholders. This is a 166 percent increase in Profit After Tax on a year-on-year basis," Adani added.

During the last financial year, Adani Ports' business rose 25 percent, while the container segment market share grew to 41 percent, Adani noted.

Speaking about the group's growing airport portfolio, Adani told shareholders that the company had taken over operations of Ahmedabad, Lucknow and Mangalore airports, and signed concession agreements for Guwahati, Jaipur and Thiruvananthapuram. The conglomerate has won privatisation contracts for these airports.

The company is also in the process of taking over the GVK-run Mumbai International Airport (MIAL).

At the time of writing this copy, listed stocks under the Adani banner— Adani Ports (down 1.94 percent), Adani Enterprises (down 1.63 percent), Adani Total Gas (down 0.47 percent), Adani Transmission (down 1.84 percent), Adani Power (down 1.57 percent) and Adani Green Energy (down 2.11 percent) — were all trading in the red. Headliner Nifty was up about 0.5 percent.