Team siliconindia

• Adani Portfolio TTM EBITDA hits Rs 90,572 crore, up 10% YoY; Q1 FY26 EBITDA at Rs 23,793 crore.
• 87% of EBITDA from utilities, transport, and incubating assets; incubating infra crosses Rs 10,000 crore.
• Net Debt to EBITDA at 2.6x, cash at Rs 53,843 crore, liquidity covers 21 months of debt servicing.

The Adani Group’s portfolio has achieved a record performance, with trailing twelve-month (TTM) EBITDA reaching Rs 90,572 crore for the first time, marking a 10% rise year-on-year. Q1 FY26 EBITDA also hit a record high at Rs 23,793 crore, the company said on Thursday.

Core infrastructure businesses, including utilities, transport, and incubating infrastructure assets under Adani Enterprises, contributed 87% of total EBITDA in the first quarter of FY26. Among incubating assets, airports, solar and wind manufacturing, and roads crossed Rs 10,000 crore in EBITDA for the first time.

The strong growth was driven by Adani’s incubating businesses, particularly airports under Adani Enterprises, along with Adani Green Energy, Adani Energy Solutions, Adani Ports and SEZ, and Ambuja Cements.

The company highlighted its robust financial position, with portfolio-level leverage remaining one of the lowest globally at 2.6 times net debt to EBITDA. It maintains high liquidity of Rs 53,843 crore in cash, enough to cover debt servicing for at least the next 21 months, representing 19% of gross debt.

In terms of credit ratings, 87% of the run-rate EBITDA, which now stands at Rs 99,561 crore, is generated from assets rated ‘AA-’ or above domestically, strengthening the Group’s credit profile.

Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, and Ambuja Cements continue to post double-digit EBITDA growth. Fund flow from operations or cash after tax reached a record Rs 66,527 crore, while the total asset base stood at Rs 6.1 lakh crore, reflecting an addition of Rs 1.26 lakh crore in FY25.

Also Read: Adani Group Emerges as India's Fastest-Growing Brand with Green Energy Focus

Adani Enterprises’ incubated businesses are also showing strong growth. Adani New Industries Ltd has commissioned India’s first off-grid 5 MW Green Hydrogen pilot plant, a major step in the country’s clean energy transition. Seven of the eight projects under construction are now more than 70% complete, including the Ganga Expressway.

Adani Green Energy has expanded operational capacity by 45% year-on-year to 15,816 MW, adding 3,763 MW of solar, 585 MW of wind, and 534 MW of hybrid power plants. Adani Energy Solutions secured a new transmission project, the WRNES Talegaon line, raising its under-construction order book to Rs 59,304 crore.

Adani Ports saw cargo volumes grow over 11% year-on-year to 121 million metric tonnes in Q1 FY26, reflecting steady growth across the Group’s infrastructure businesses. 

With a combination of strong operational performance, disciplined financial management, and strategic expansion into high-growth sectors, the Adani Group continues to strengthen its position as a leading global infrastructure player.