In a reality check that could well be defined as a fairy tale, the latter has bounced back and is on a more than historic high; its EBITDA has ferociously grown by 40 % YoY to reach Rs 66000 Crore in FY 23 ending March 2024.
In fact, today and yesterday, the stock trading market showed a tremendous increase in the conglomerate’s stock market. During a single session, it is important to note that the grouping added Rs 1 to its market capitalization of 20 lakh crore, which is a clear indication that the total worth of all its listed companies now stands at 20 lakh crore.
However, it was not devoid of the fluctuations and uncertainty characteristic of trading days, and several group companies reported sharp losses. AGL, among others, Adani Total Gas, Adani Energy Solutions, and Adani Power were some of the worst affected entities.
Adani Group’s performance has been ear-muffing in financial year 24, leading to increased stock pricing. This has largely been due to the group’s efforts to manage its debt, cut down on the amount of founders’ share pledges during the year, and erase the Hindenburg effect that had been dragging the conglomerate’s market capitalization.
As mentioned in the previous section, the group is numerate and has left the strategic expansion path yet again: Jefferies India expects a $90 billion capital spending plan in the next decade. The Adani Group’s experiences have demonstrated a strong performance that displays a capability of shifting for investor confidence.
