The Adani Portfolio of companies has announced record-breaking financial performance for the first half of the fiscal year (H1 FY25) and the trailing twelve months (TTM). The group’s total gross assets reached an all-time high of Rs 5.53 lakh crore, supported by significant investments and expanding infrastructure businesses.
Strong EBITDA Growth Drives Success
Adani’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) continued to rise, marking its highest figures yet. For H1 FY25, EBITDA stood at Rs 44,212 crore, a modest 1.2% year-on-year (YoY) increase. However, after excluding non-recurring income from the previous year in Adani Power, adjusted EBITDA growth was an impressive 25.5% for H1 FY25 and 34.3% for TTM.
The Group highlighted its run-rate EBITDA, which includes profits from newly operational assets, now stands at Rs 88,192 crore. This reflects Adani’s focus on creating stable and predictable infrastructure platforms.
Major Investments and Liquidity
Adani Portfolio companies invested Rs 75,277 crore in H1 FY25, driving the group’s robust asset growth. According to the Adani Group, all portfolio companies maintain sufficient liquidity to cover debt servicing for at least the next 12 months. Furthermore, debt maturities until FY34 remain manageable, ensuring financial stability.
Funds Flow from Operations (FFO) also surged by 28.4% YoY, reaching Rs 58,908 crore for the 12 months ending September 2024.
Infrastructure Businesses Lead Growth
Adani Enterprises Limited (AEL), the flagship company, led the group’s performance, particularly in emerging infrastructure segments. These include solar and wind manufacturing, which are integral to Adani’s green hydrogen chain, as well as airports and roads. The EBITDA from these businesses increased by 70.1% YoY in H1 FY25.
Adani’s core infrastructure sectors, including utilities, transport, and infrastructure, accounted for 86.8% of total EBITDA in H1 FY25.
Adani Group reported a Net Debt to EBITDA ratio of 2.46x, significantly below its guidance range of 3.5x to 4.5x. This showcases the group’s strong financial discipline while continuing its ambitious expansion.
The group emphasized its strategic focus on sustainable infrastructure development, particularly in green energy projects. This includes an integrated approach to green hydrogen production, with a fully developed supply chain encompassing solar and wind energy manufacturing.
Adani Portfolio’s strong performance in H1 FY25 and TTM underscores its resilience and strategic growth in infrastructure. With record-breaking assets, rising EBITDA, and a focus on sustainable projects, the group remains a key player in India’s economic growth. As the group expands further into green energy and infrastructure, it sets a benchmark for financial stability and innovation in the sector.
