In the first week of Financial Year (FY) 2021-2022, AdGroup crossed USD 100 billion in market capitalisation, said Chairman Gautam Adani. Virtually addressing the firmโs shareholders at Annual General Meeting 2021, he noted that this milestone is a first for a first-generation Indian company.
โThe 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,โ 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%. All Adani stocks generated returns over 100% and businesses ensured that they returned close to Rs 9,500 crore to equity shareholders, he informed.
โBusinesses ensured that they returned close to Rs 9,500 crore to equity shareholders. This is a 166% increase in Profit After Tax on a year-on-year basis,โ Adani explained to the shareholders.
Terming the financial year as โtransformationalโ he said, โAdani Ports and SEZ Limited crossed a landmark after its share of Indiaโs port-based cargo business rose to 25% and the container segment market share grew to 41%.โ
In 2020, Adani Green Energy Limited (AGEL) became the largest solar company in the world.
โOverall, as an incubator of businesses, Adani Enterprises remains unrivalled and continues to operate as one of the worldโs largest proving grounds for new ideas and business models,โ Adani said.
According to him, within the two decades, India will become a USD 15 trillion plus economy.
โHistory 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,โ he said.