Adani Group Reports Record Rs 86,789 Crore TTM EBITDA; Driven By Infrastructure Business

The Adani Portfolio has achieved its highest-ever trailing-twelve-month (TTM) EBITDA of Rs 86,789 crore, primarily led by its core infrastructure business, the Adani Group announced on Thursday.

The core infrastructure segment, including utility, transport, and incubating infrastructure businesses under Adani Enterprises Ltd, contributed 84% of the total EBITDA.

On a TTM basis, the portfolio EBITDA grew 10.1% year-on-year to reach an all-time high of Rs 86,789 crore, while EBITDA for Q3 FY25 saw a 17.2% increase to Rs 22,823 crore, reinforcing Adani Group’s position as India’s largest infrastructure player.

Adani Portfolio companies are currently on a high capital expenditure path, supported by increasing cash flow generation and project execution capacity across the group.

The company stated, “This will position the respective portfolio companies as the global leaders in their respective sectors.”

As of 30 September 2024, the group’s fund flow from operations or cash after tax stood at Rs 58,908 crore, with an asset base of Rs 5.53 lakh crore and a net debt-to-EBITDA ratio of 2.46 times.

The group emphasized that adequate liquidity is maintained across its companies to meet debt servicing obligations for at least the next 12 months.

Core Infrastructure Powers 84% Of Adani Group’s EBITDA

The core infrastructure portfolio remains the primary driver of cash flow, contributing 84% to total EBITDA.

This includes Adani Enterprises’ incubating infrastructure businesses, as well as the group’s utility (Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas) and transport (Adani Ports and SEZ) segments.

The group’s credit profile has strengthened significantly, with 75% of run-rate EBITDA now coming from assets rated ‘AA-’ or higher domestically.

Adani Enterprises’ incubating infrastructure businesses—including airports, roads, and Adani New Industries Ltd (ANIL)—are on a rapid growth trajectory, registering a 45.6% YoY EBITDA growth in Q3 FY25 and 33.3% growth on a TTM basis.

It further added, “As on 30 September 2024, Adani Portfolio had a cash balance of Rs 53,024 crore, representing 20.5 per cent of Gross Debt.”

The Adani Group, India’s largest and fastest-growing business conglomerate, operates across energy and utilities, transport and logistics, metals and materials, and consumer sectors, maintaining a strong leadership position in the market.

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