Ports-to-power conglomerate Adani Group is planning capital expenditure of Rs 1.3 lakh crore ($15.6 billion) for fiscal 2025, group chief financial officer (CFO) Jugeshinder Singh told reporters in Ahmedabad on June 25.
The group has a target to raise $2 billion to $2.5 billion in equity capital in the year ending March 2025, he said.
CFO Jugeshinder Singh also said that Adani Enterprises will list its airport business in FY28, NDTV Profit reported.
Singh said that its clean energy arm Adani Green will invest Rs 34,000 crore, the report said, adding 6-7 GW of capacity in the current financial year.
Additionally, Singh said the margins currently stood at 30 percent following the deployment of all the capital. The CFO also highlighted that the group has the highest cash per share growth in the country at 43.2 percent, the news channel said. The group generates 70 percent of the cash required internally for every billion-dollar growth plan, Singh was quoted as saying in the report.
Meanwhile, on June 25, Singh denied reports the group is planning to take a stake in payments firm Paytm, but said it will "evaluate any opportunities" in the fintech space, reported Reuters.
The comments came a day after billionaire owner Gautam Adani told investors the group is "well positioned" to capitalise on opportunities in the country's booming infrastructure sector.
The group, which has businesses across ports, power utilities, transmission and coal trading, is betting on infrastructure spending, which is expected to grow at a compounded annual growth rate of 20 percent-25 percent, Adani said on June 24.
In January 2023, Hindenburg accused the Adani Group of improper use of tax havens and stock manipulation. The group, which refuted the allegations, sparked a $150-billion meltdown in market value as the short-seller's report roiled investor confidence and attracted regulatory scrutiny.
Group companies, including Adani Power and Adani Ports , recouped all their losses and moved past pre-Hindenburg levels last year. Adani Enterprises, too, bounced back past those levels in May.
"The headwinds that tested us became the very ones that made us even stronger," Adani said, pointing to investments from GQG Partners, TotalEnergies and Abu Dhabi conglomerate International Holding after the Hindenburg saga.
With inputs from Reuters
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