The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Adani Portfolio of companies for the Trailing-Twelve-Month (TTM) has crossed the ₹90,000 crore and grew 10% Year-on-Year to ₹90,572 crore with Q1 EBITDA also reaching a record high of ₹23,793 crore, up 3.3%, the Adani Group said on Thursday (August 28, 2025).
The Adani Portfolio of listed companies, founded and managed by the Adani Group, is an Indian conglomerate primarily focused on infrastructure, energy and transport sectors, with significant holdings in airports, ports, power generation, transmission, data centers, cement, defense, and roads.
“This strong performance was led by sustained growth in incubating businesses (notably Airports under AEL), along with Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, and Ambuja Cements,” it said.
“Robust contributions from these businesses more than offset the dip in AEL’s existing business,” the group said.
“Negative growth in AEL Existing Business is primarily due to a decrease in trade volume and volatility of index prices in IRM(Integrated Resource Management). Sustained EBITDA expansion provides strong support for the planned annual capital expenditure of ₹1.5-₹1.6 lakh crore,” it said.
On the credit side, the portfolio-level leverage continued to remain one of the lowest globally at 2.6 times Net Debt to EBITDA, while high liquidity of ₹53,843 crore is maintained in cash, the group said.
The group’s Core Infrastructure’ portfolio continued to power cashflow generation, with 87% contribution to the total portfolio EBITDA. This ‘Core Infrastructure’ platform comprises — AEL’s incubating Infrastructure businesses, Utility (Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas), and Transport (Adani Ports & SEZ) businesses.
Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, and Adani Cements (Ambuja) continued to deliver double-digit EBITDA growth, it said.
The Group said sufficient liquidity was maintained across portfolio companies to cover debt servicing requirements for at least the next 12 months.
As on 31 March 2025, Adani Portfolio had a cash balance of ₹53,843 crore, representing 19% of Gross Debt.
Fund flow from operations or cash after tax was at a record ₹66,527 crore. The portfolio’s asset base stood at ₹ 6.1 lakh crore which includes the addition of ₹1.26 lakh crore in FY25.
Net Debt to EBITDA was at 2.6x, one of the lowest amongst large global infra players, the group said. Adani Enterprises’(AEL), incubated businesses were on a high-growth path, the group said.
ANIL commissioned India’s first off-grid 5 MW Green Hydrogen pilot plant. 7 out of 8 under-construction projects were more than 70 % completed (including Ganga Expressway).
Passenger movements at airports were up by 3% YoY to 23.4 million in Q1FY26 & Cargo movements were up by 4% YoY to 0.28 MMT in Q1FY26.
Adani Green Energy’s(AGEL) operational capacity increased by 45% YoY to 15,816 MW with the addition of 3,763 MW solar, 585 MW wind power plants and 534 MW hybrid power plants. Adani Energy Solutions (AESL) secured one new transmission project — WRNES Talegaon line, taking the under-construction order book to ₹59,304 crore.
Adani Ports & SEZ’s (APSEZ) volume grew 11 % YoY to 121 MMT in Q1FY26. Adani Cements’ (Ambuja) present Cement Capacity of 105 MTPA, well poised to achieve the planned capacity of 118 MTPA by March 2026.
Published – August 28, 2025 10:54 am IST
