Adani Group Posts Record Rs 898B EBITDA in FY25

26 May 2025 CW Team

Profit after tax (PAT) also rose to a record Rs 405.65 billion, while gross assets surged to Rs 60.91 trillion, driven by a six-year compound annual growth rate (CAGR) of over 25 per cent. Capital expenditure for the year reached Rs 1.26 trillion (approx. USD 14.7 billion), setting a new benchmark for the group.

"A key highlight of FY25 is the continued industry-beating Return on Assets (RoA) of 16.5 per cent — among the highest globally in the infrastructure sector," said Jugeshinder 'Robbie' Singh, Group Chief Financial Officer, Adani Group. "This reflects the strength of our asset base and execution capabilities across multiple sub-sectors."

The group also emphasised progress on governance and ESG (environmental, social and governance) fronts, including the release of Tax Transparency Reports by all portfolio companies. These efforts have led to top-tier ESG ratings from international agencies.

Cash after tax (CAT) or fund flow from operations (FFO) rose 13.6 per cent year-on-year to Rs 665.27 billion (approx. USD 7.8 billion). Strong cash flows enabled record asset additions totalling Rs 1.26 trillion — with 75 per cent of the current asset base added over the past six years. Total gross assets now stand at Rs 6.1 trillion (USD 71.2 billion).

Improved profitability has significantly reduced leverage. Portfolio-level net debt to EBITDA has declined from 3.8 times in FY19 to 2.6 times in FY25.

Ratings have also improved across the group, with nearly 90 per cent of EBITDA now generated from assets rated 'AA' or higher domestically — a sharp rise from 63 per cent two years ago and 48 per cent six years ago.

The average cost of debt for FY25 dropped to 7.9 per cent, down from 9 per cent in FY24 and 10.3 per cent in FY19.

As of 31 March 2025, the Adani Portfolio held a cash balance of Rs 538.43 billion, covering 18.5 per cent of gross debt and enough to meet debt servicing obligations for 21 months — comfortably exceeding the group’s stated policy of maintaining a minimum 12-month coverage.

Image source:https://bsmedia.business-standard.co

The Adani Portfolio has reported its strongest ever financial results for FY25, with earnings before interest, tax, depreciation and amortisation (EBITDA) reaching an all-time high of Rs 898.06 billion (approx. USD 10.5 billion), marking an 8.2 per cent year-on-year increase. When adjusted for non-recurring items, EBITDA growth stands at 18 per cent.Profit after tax (PAT) also rose to a record Rs 405.65 billion, while gross assets surged to Rs 60.91 trillion, driven by a six-year compound annual growth rate (CAGR) of over 25 per cent. Capital expenditure for the year reached Rs 1.26 trillion (approx. USD 14.7 billion), setting a new benchmark for the group.A key highlight of FY25 is the continued industry-beating Return on Assets (RoA) of 16.5 per cent — among the highest globally in the infrastructure sector, said Jugeshinder 'Robbie' Singh, Group Chief Financial Officer, Adani Group. This reflects the strength of our asset base and execution capabilities across multiple sub-sectors.The group also emphasised progress on governance and ESG (environmental, social and governance) fronts, including the release of Tax Transparency Reports by all portfolio companies. These efforts have led to top-tier ESG ratings from international agencies.Cash after tax (CAT) or fund flow from operations (FFO) rose 13.6 per cent year-on-year to Rs 665.27 billion (approx. USD 7.8 billion). Strong cash flows enabled record asset additions totalling Rs 1.26 trillion — with 75 per cent of the current asset base added over the past six years. Total gross assets now stand at Rs 6.1 trillion (USD 71.2 billion).Improved profitability has significantly reduced leverage. Portfolio-level net debt to EBITDA has declined from 3.8 times in FY19 to 2.6 times in FY25.Ratings have also improved across the group, with nearly 90 per cent of EBITDA now generated from assets rated 'AA' or higher domestically — a sharp rise from 63 per cent two years ago and 48 per cent six years ago.The average cost of debt for FY25 dropped to 7.9 per cent, down from 9 per cent in FY24 and 10.3 per cent in FY19.As of 31 March 2025, the Adani Portfolio held a cash balance of Rs 538.43 billion, covering 18.5 per cent of gross debt and enough to meet debt servicing obligations for 21 months — comfortably exceeding the group’s stated policy of maintaining a minimum 12-month coverage.Image source:https://bsmedia.business-standard.co

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