Adani Portfolio Reports Strong Growth in H1 FY25 and TTM
The Adani Portfolio of companies has delivered remarkable results for the first half of the current fiscal year (H1 FY25) and the preceding twelve months (TTM). During H1 FY25, the portfolio companies invested a total of Rs 75,277 crore, leading to a new record-high gross total assets of Rs 5.53 lakh crore. This substantial and resilient growth can be attributed to Adani's strategic focus on its infrastructure platform, which offers significant stability and predictability.
The impressive performance in the H1 was driven by Adani Enterprises' burgeoning infra businesses, such as solar and wind manufacturing, a critical component of a fully integrated green hydrogen chain, airports, and roads. These businesses resulted in a 70.14% YoY increase in EBITDA from these developing businesses in H1 FY25.
In the first half of the financial year 2025, EBITDA continued to show consistent growth, reaching a record high of Rs 44,212 crore, representing a 1.2% year-on-year increase. The trailing twelve-month EBITDA also saw a significant rise, reaching Rs 83,440 crore, reflecting a 17.1% year-on-year increase.
Upon adjusting for non-recurring income from the previous period in Adani Power, the EBITDA growth rate for the first half of the financial year 2025 was 25.5%. The trailing twelve-month EBITDA growth rate was even higher at 34.3%.
The run-rate EBITDA, which considers the annualised profits from recently operationalised assets, now stands at Rs 88,192 crore, according to the Group's statement.
"This expansive yet resilient growth is attributed to Adani's strategic focus on its infrastructure platform, which provides high stability and predictability," the Adani Group said in a statement.
"All portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least the next 12 months. Debt maturities for each year until FY34 are less than TTM ended September 2024," it added.
In the 12-month period ending September 2024, Funds flow from operations (FFO) rose to Rs 58,908 crore, reflecting a 28.4% year-on-year increase. The exceptional performance in the first half of FY25 was primarily driven by Adani Enterprises Ltd's (AEL) emerging infra businesses, such as solar and wind manufacturing, a crucial part of a fully integrated green hydrogen chain, airports, and roads. EBITDA from these developing businesses surged by 70.14% year-on-year in the first half of FY25.
The core infrastructure businesses under Adani Enterprises, including utility, transport, and other infra businesses, contributed significantly to the overall EBITDA in the first half of FY25, accounting for 86.8% of the total.
AEL's infrastructure businesses with 70.1% YoY growth in the H1 FY25, led the overall growth. These businesses include solar and wind manufacturing (part of the green hydrogen production chain), airports and roads businesses.