The Adani Group has reported a record earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 89,806 crore ($10.5 billion) for the financial year ended March 31, 2025, representing an 8.2% increase from the previous year. The company’s Core Infrastructure platform, which includes utility, transport, and infrastructure businesses, contributed 82% to the total EBITDA. The platform comprises companies such as Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas, among others.
The group’s profit after tax (PAT) stood at Rs 40,565 crore ($4.7 billion), with a six-year compound annual growth rate (CAGR) of 48.5%. This strong profit growth has enabled the company to reduce its leverage, with its net debt-to-EBITDA ratio declining from 3.8x in FY19 to 2.6x in FY25. The company’s gross assets increased to Rs 4,72,572 crore during the year, while its net asset base grew by 25% to Rs 2,88,372 crore.
The Adani Group’s cash balance stood at Rs 53,843 crore ($6.3 billion) at the end of the financial year, representing 18.5% of its gross debt. The company reported a capital expenditure of Rs 1.26 trillion and plans to invest $100 billion over the next six years. Its cash flow from operations increased by 13.6% to Rs 66,527 crore ($7.8 billion), driven by strong operating leverage across its businesses.
The company’s asset addition for the year was Rs 1.26 lakh crore ($14.7 billion), the highest in its history, taking its total gross assets to Rs 6.1 lakh crore ($71.2 billion). Three-fourths of this asset addition was made in the past six years, demonstrating the company’s rapid growth and expansion. Jugeshinder ‘Robbie’ Singh, the group’s chief financial officer, highlighted the company’s strong return on assets of 16.5%, which is among the highest in the infrastructure industry globally.
Overall, the Adani Group’s robust financial performance and strong growth prospects position it as a leader in the infrastructure sector. The company’s diversified portfolio of businesses and its focus on investing in high-growth areas are expected to drive its future growth and expansion. With a strong balance sheet and a solid financial foundation, the Adani Group is well-placed to capitalize on emerging opportunities and create long-term value for its stakeholders.