Adani Group’s portfolio of companies has announced stellar financial results for the first half of fiscal year 25 (H1 FY25) and the trailing twelve months (TTM), marking a significant milestone for the conglomerate. These impressive figures underscore the strength and resilience of Adani’s strategic focus on infrastructure development and its burgeoning green energy initiatives.
The group reported a record-high EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of Rs 44,212 crore for H1 FY25, representing a 1.2 percent year-on-year (YoY) increase. This robust performance further solidifies when considering the trailing twelve months, where EBITDA reached an impressive Rs 83,440 crore, a noteworthy 17.1 percent YoY surge. Crucially, after adjusting for non-recurring income from Adani Power in the previous period, EBITDA growth leaped to an even more impressive 25.5 percent for H1 FY25 and 34.3 percent for TTM.
The Adani Group’s strategic investments during H1 FY25 totaled a significant Rs 75,277 crore, boosting its total gross assets to a record-breaking Rs 5.53 lakh crore. This substantial investment underscores the company’s commitment to expansion and long-term growth. Furthermore, the Group highlighted a run-rate EBITDA, factoring in the annualization of profits from recently operationalized assets, reaching Rs 88,192 crore. This indicates a strong trajectory for future earnings.
The Group’s statement emphasized the stability and predictability inherent in its infrastructure platform as the key driver behind this expansive growth. Equally reassuring is the group’s assertion that all portfolio companies possess sufficient liquidity to comfortably meet all debt servicing obligations for at least the next 12 months. The Group further highlighted that debt maturities for each year until FY34 are less than the TTM ended September 2024.
Contributing significantly to this exceptional performance was the remarkable growth of Adani Enterprises Ltd.’s (AEL) emerging infrastructure businesses. These include solar and wind manufacturing, a crucial component of their integrated green hydrogen chain, as well as airports and road infrastructure. These incubating businesses witnessed a staggering 70.14 percent YoY increase in EBITDA during H1 FY25, showcasing the potential of Adani’s investments in sustainable and forward-looking technologies.
The core infrastructure businesses—utilities, transport, and infrastructure ventures under Adani Enterprises—formed the backbone of the financial success, accounting for a substantial 86.8 percent of the total EBITDA in H1 FY25. The group also highlighted that the Net Debt to EBITDA ratio stood at a healthy 2.46x, considerably lower than the projected 3.5x to 4.5x, indicating robust financial management.
Funds from operations (FFO) for the twelve months ended September 2024 also demonstrated impressive growth, reaching Rs 58,908 crore—a 28.4 percent YoY increase. This consistent upward trend across key financial metrics reinforces the strength and potential of the Adani Group’s diverse portfolio. The sustained growth, especially in the green energy sector, positions Adani as a major player in the global transition towards sustainable energy solutions.
