The Adani Group, India’s largest infrastructure conglomerate, reported a record-breaking trailing twelve-month (TTM) EBITDA of INR 90,572 crore, up 10% year-on-year, with Q1FY26 EBITDA hitting an all-time high of INR 23,793 crore, a 3.3% increase. Core infrastructure businesses, utility, transport, and Adani Enterprises’ incubating assets like airports, solar, and roads, contributed around 87% of Q1FY26 EBITDA, with incubating infra assets surpassing INR 10,000 crore for the first time.
Strong performances from Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, and Ambuja Cements offset a 50.9% dip in Adani Enterprises’ existing businesses due to lower trade volumes and price volatility.
The portfolio’s credit profile remains robust, with a net debt-to-EBITDA ratio of 2.6x, among the lowest globally, and a cash balance of INR 53,843 crore, covering debt servicing for over 21 months. Fund flow from operations reached INR 66,527 crore, supporting an asset base of INR 6.1 lakh crore. Key highlights include Adani Green Energy’s 45% capacity increase to 15,816 MW and Adani Ports’ 11% volume growth to 121 MMT. The Adani Portfolio continues to drive India’s infrastructure growth with a focus on sustainability.
