Adani Group's EBITDA crosses ₹90,000cr for 1st time
What's the story
The Adani Group has announced a major milestone in its financial performance. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) crossed ₹90,000 crore for the first time on a trailing 12-month basis. This marks a 10% year-on-year (YoY) growth and is largely driven by strong performances from its core infrastructure businesses.
Business performance
Infrastructure businesses drive EBITDA growth
The Adani Group's core infrastructure businesses, including utilities and transport, contributed a whopping 87% to the total EBITDA in Q1 FY26. This segment also includes incubating infra businesses under Adani Enterprises. The company said that its incubating infra assets such as airports, solar and wind manufacturing, and roads, have crossed ₹10,000 crore EBITDA for the first time ever.
Financial stability
Strong liquidity and low leverage
Despite the strong EBITDA growth, the Adani Group's portfolio-level leverage remains one of the lowest globally at 2.6 times Net Debt to EBITDA. The company also maintains a high liquidity of ₹53,843 crore in cash. This is enough to cover debt servicing for at least the next 21 months, which is about 19% of its gross debt.
Credit strength
Improvement in credit profile
The Adani Group's credit profile has improved further, with 87% of the run-rate EBITDA now coming from assets rated 'AA-' and above. The company also reported a record fund flow from operations or cash after tax at ₹66,527 crore. Its asset base stood at ₹6.1 lakh crore, an addition of ₹1.26 lakh crore in FY25.
Information
High growth in renewable energy sector
Adani Enterprises's incubated businesses are on a high-growth path, with seven out of eight under-construction projects over 70% completed. Adani Green Energy's operational capacity increased by 45% YoY to 15,816 MW. This includes the addition of solar, wind power plants, and hybrid power plants.