The Gautam Adani-led Adani Group has received an upgrade from Jefferies following a 55% profit rise across its 10 listed firms in fiscal year 2023-24. Recovering from setbacks, the group plans a $90 billion capex over the next decade. Adani Power saw a doubling of EBITDA, while other companies showed EBITDA growth ranging from 16-33%, except Adani Wilmar. Adani Enterprises’ growth was driven by new businesses, and Adani Port’s by volume growth. Adani Green’s growth was due to capacity addition, and Adani Total Gas’ from volume growth and margin expansion.