Adani Group Reports Robust H1 FY25 Performance
Adani Group has released its H1 FY25 and Trailing-Twelve-Month (TTM) Results and Credit Compendium, highlighting strong financial growth and strategic advancements across its portfolio. The group's performance was driven by Adani Enterprises' emerging infrastructure businesses, including solar, wind, airports, and roads, which saw a 70.1% YoY EBITDA growth in H1 FY25.
In H1 FY25, the group invested ₹75,277 crore, increasing its total gross assets to ₹5.53 lakh crore. The portfolio’s EBITDA rose to a record ₹44,212 crore, with TTM EBITDA reaching ₹83,440 crore, up 17.1% YoY. Adjusted for non-recurring income, H1 EBITDA grew 25.5%. Core infrastructure businesses, including utilities, transport, and green energy, contributed 86.8% to H1 FY25 EBITDA.
The group's liquidity remains strong, with cash reserves of ₹53,024 crore, covering 28 months of debt servicing requirements. Net debt to EBITDA stood at 2.46x, significantly below the guidance range of 3.5–4.5x. Additionally, 76% of the group’s EBITDA comes from assets rated above 'AA-'.
Key Updates:
Adani Enterprises: Navi Mumbai Airport welcomed its first IAF aircraft. Solar module sales rose 91% YoY to 2,380 MW, while passenger traffic at Adani airports grew 6% to 45.1 million.
Adani Green Energy: Operational capacity increased 34% YoY to 11.2 GW, with construction of a 500 MW hydro pump storage underway.
Adani Energy Solutions: Added 2,760 ckm of transmission lines, bringing the network to 23,269 ckm. Secured three new transmission projects.
Adani Power: Acquired Korba Power Ltd., consolidating it from August 2024.
Adani Ports & SEZ: Achieved 220 MMT volume, completed acquisitions of Gopalpur Port and Astro Offshore, and signed two new port concession agreements.
Adani Cements: Expanded operational capacity to 97.8 MTPA with acquisitions of Penna Cement and Orient Cement.
The group's strategic investments and operational expansions underscore its commitment to sustainable growth, bolstered by a strong financial foundation.
