Adani Group achieved record results for the first half of fiscal year 2025, with total assets rising to 5.53 lakh crore rupees after investments of 75,277 crore rupees. EBITDA reached an all-time high of 44,212 crore rupees in H1 FY25, up 1.2% year-on-year, and 83,440 crore rupees for the trailing twelve months, marking a 17.1% increase. Adjusted for non-recurring income from Adani Power, EBITDA growth was 25.5% for H1 FY25 and 34.3% for the TTM.
The group’s run-rate EBITDA, including profits from newly operational assets, is now 88,192 crore rupees. This growth is largely attributed to Adani’s strategic focus on infrastructure, particularly in solar, wind, airports, and roads, which has driven stability and predictability. The portfolio companies are well-positioned with sufficient liquidity to cover debt obligations for at least the next 12 months, with debt maturities through FY34 remaining below the trailing twelve-month figures.
Funds flow from operations (FFO) for the year ending September 2024 grew by 28.4% year-on-year, totaling 58,908 crore rupees. A significant contributor to this performance was Adani Enterprises, whose expanding infrastructure businesses saw a 70.14% YoY increase in EBITDA for H1 FY25. Core infrastructure sectors, including utilities, transport, and other businesses under Adani Enterprises, contributed 86.8% of total EBITDA.
The group’s debt-to-EBITDA ratio stands at a healthy 2.46x, well below the target range of 3.5x to 4.5x, with its infrastructure businesses driving the overall growth.
Company Reduces Debt Dependence, Reports 17% Growth in EBITDA to Rs 83,440 Crore.
The company announced on Monday that its total exposure to Indian banks is $11 billion, making up 42% of its current debt. However, this exposure is lower when factoring in $6 billion in cash, most of which is held in Indian banks.
The company also stated that all of its portfolio companies have enough cash to meet debt payments for at least the next year. Additionally, equity now makes up 63% of the total debt, meaning the company is relying less on debt.
Its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 17% year-on-year to Rs 83,440 crore.
Adani Group Assures Creditors It Has Enough Cash to Meet Debt Obligations
India’s Adani Group said it has enough money to meet its debt payments, trying to reassure creditors after a US bribery case against founder Gautam Adani caused a drop in its stock and bond prices. The group reported that its cash balances are higher than its long-term debt payments for the next 28 months, with $6.33 billion in cash on hand. Adani also highlighted its strong asset base of $66 billion built over the past 30 years. The company’s ratio of gross assets to net debt improved to 2.7 times in the first half of this financial year, compared to 2.63 times last year.
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