Adani Group crossed USD 100 billion in first week of FY22 in market capitalisation: Chairman

New Delhi: In the first week of Financial Year (FY) 2021-2022, Adani Group crossed USD 100 billion in market capitalisation, said Chairman Gautam Adani on Monday.

Virtually addressing the firm’s shareholders at Annual General Meeting 2021, he noted that this ‘milestone’ is a first for a first-generation Indian company.

“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,” he said.

The Adani Group Chairman further said for financial year 2021, the consolidated EBITDA (or Earnings Before Interest, Taxes, Depreciation and Amortization) for listed portfolio was over Rs 32,000 crore, registering a year-on-year growth of 22 per cent.

All Adani stocks generated returns over 100 per cent – and businesses ensured that they returned close to Rs 9,500 crore to equity shareholders, he informed.

“Businesses ensured that they returned close to Rs 9,500 crore to equity shareholders. This is a 166 per cent increase in Profit After Tax on a year-on-year basis,” Adani explained to the shareholders.

Terming the financial year as ‘transformational’ he said, “Adani Ports and SEZ Limited crossed a landmark after its share of India’s port-based cargo business rose to 25 per cent and the container segment market share grew to 41 per cent.”

In 2020, Adani Green Energy Limited (AGEL) became the largest solar company in the world.

“Overall, as an incubator of businesses, Adani Enterprises remains unrivalled and continues to operate as one of the world’s largest proving grounds for new ideas and business models,” Adani said.

According to him, within the two decades, India will become a USD 15 trillion plus economy.

“History has shown that, out of every pandemic crisis, there emerges several learnings – and I believe that India and the world are wiser as we go through this pandemic. India will be a 5 trillion-dollar economy – and then go on to be a 15 trillion-dollar-plus economy over the next two decades. India will emerge as one of the largest global markets, both in terms of consumption size and market cap,” he said. (ANI)