Major Breakthrough: Adani Portfolio EBITDA Reaches ₹90,572 Crore On A 12-Month Basis

Ahmedabad: The Adani Portfolio EBITDA reached Rs 90,572 crore on a trailing 12-month basis for the first time -- up 10 per cent year-on-year -- with Q1 FY26 EBITDA also reaching a record high at Rs 23,793 crore, the Adani Group said on Thursday.

Core infrastructure businesses (utility, transport, and incubating infra businesses under Adani Enterprises) accounted for 87 per cent of total EBITDA in Q1 FY26. "Incubating Infra assets (airports, solar and wind manufacturing, and roads) crossed Rs 10,000 crore EBITDA for the first time,” the Adani Group said in a statement.

The strong performance was led by sustained growth in incubating businesses (notably Airports under AEL), along with Adani Green Energy, Adani Energy Solutions, Adani Ports and SEZ, and Ambuja Cements. On the credit side, the portfolio-level leverage continues to remain one of the lowest globally at 2.6 times Net Debt to EBITDA, while high liquidity of Rs 53,843 crore is maintained in cash. The company said it has ample liquidity to cover debt servicing for at least the next 21 months, representing 19 per cent of gross debt.

The credit profile in June has become even more robust, with 87 per cent of the Run-rate EBITDA (Rs 99,561 crore) now generated from assets with domestic ratings of 'AA-' and above. "Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, and Adani Cements (Ambuja) continue to deliver double-digit EBITDA growth.

Sufficient liquidity is maintained across portfolio companies to cover debt servicing requirements for at least the next 12 months,” the Group informed. The company further stated that fund flow from operations or cash after tax was at a record Rs 66,527 crore, and asset base stood at Rs 6.1 lakh crore -- an addition of Rs 1.26 lakh crore in FY25. Net Debt to EBITDA was at 2.6 times -- one of the lowest among large global infra players.

Adani Enterprises' (AEL) incubated businesses are on a high-growth path. Adani New Industries Ltd (ANIL) has successfully commissioned India’s first off-grid 5 MW Green Hydrogen pilot plant, marking a major milestone in the nation’s clean energy transition.

Seven out of eight under-construction projects are more than 70 per cent completed (including Ganga Expressway). Adani Green Energy’s (AGEL) operational capacity has increased by 45 per cent 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 Rs 59,304 crore. Adani Ports’ volume grew more than 11 per cent YoY to 121 MMT in Q1 FY26.

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