• Friday, September 17, 2021
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UK Corona Update 
Total Fatalities 418,480
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India corona update 
Total Fatalities 443,928
Total Cases 33,347,325
Today's Fatalities 431
Today's Cases 30,570

Business

Adani Group’s market cap tops £72 billion in current fiscal

Adani Group Chairman, Gautam Adani. (Photo by SAM PANTHAKY/AFP/Getty Images).

By: Shilpa Sharma

MARKET capitalisation of India’s Adani Group companies crossed the $100 billion (£72bn) mark in the ongoing fiscal year, group chairman Gautam Adani said while addressing the annual shareholders’ meeting on Monday (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.

Last year, consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) of the conglomerate’s listed portfolio was over Rs 320bn (£231bn), up 22 per cent from 2019-20.

“All Adani stocks generated returns over 100 per cent–and our businesses ensured that we returned close to Rs 95bn (£68bn) to you, our equity shareholders. This is a 166 per cent increase in Profit After Tax on a year-on-year basis,” Adani said.

He further informed shareholders about the group’s growing airport portfolio.

The company had taken over operations of Ahmedabad, Lucknow and Mangalore airports, and signed concession agreements for Guwahati, Jaipur and Thiruvananthapuram. Adani Group won privatisation contracts for these airports.

It is also following the process to takeover the GVK-run Mumbai International Airport.

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