Expect stable cash flows and earnings in FY24, Adani tells banks

Gross debt at Rs 2.27 trillion in FY23 after repayment

Adani Group is expected to report a 20 per cent rise in its earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 61,200 crore for the year that ended in March 2023 (2022-23, or FY23), according to a note submitted by the group to lenders recently.

The group had earned Ebitda of Rs 57,299 crore in the preceding financial year that ended in March 2022 (2021-22).

The group’s gross debt was Rs 2.27 trillion as of March 31, 2023, and has projected to not take on additional debt until it lowers its existing one.

Net debt for 2022-FY23 was