The Adani Group has posted record earnings for the first quarter of FY26, with its portfolio companies achieving a combined EBITDA of ₹23,793 crore. On a trailing twelve-month (TTM) basis, EBITDA rose 10% year-on-year to ₹90,572 crore. This marks the first time the group has crossed the ₹90,000 crore mark in TTM EBITDA, reflecting strong growth across its infrastructure and energy businesses.
Airports and Green Energy Drive Growth
The surge in earnings was largely fueled by key businesses such as airports under Adani Enterprises, as well as Adani Green Energy, Adani Energy Solutions, and Adani Ports & SEZ. Core infrastructure units, including utilities, ports, and transport, contributed 87% of the consolidated Q1 EBITDA. Adani Enterprises alone reported a TTM EBITDA of ₹16,536 crore, benefiting significantly from ongoing infrastructure projects. Meanwhile, Adani Ports saw cargo volumes rise 11% year-on-year to 121 million metric tonnes, supporting steady revenue growth.
Robust Cash Flow and Financial Strength
The group highlighted its strong cash flow generation, with fund flow from operations reaching a record ₹66,527 crore in FY25. Its total asset base expanded to ₹6.1 lakh crore by June 2025, while the consolidated net debt-to-EBITDA ratio remained healthy at 2.6x. Cash reserves stood at ₹53,843 crore, providing ample liquidity to support ongoing and planned investments.
Backing Ambitious Expansion Plans
Adani Group emphasized that sustained EBITDA growth underpins its capital expenditure plans, which are projected at ₹1.5–1.6 lakh crore annually. The company sees this financial strength as a foundation for ambitious expansions in infrastructure and renewable energy projects, ensuring long-term growth and stability.
Looking Ahead
With strong earnings, solid cash flow, and strategic investments in high-growth sectors, the Adani Group continues to cement its position as a leader in India’s infrastructure and energy landscape. Its focus on airports, green energy, and core utilities demonstrates a balanced approach that combines immediate revenue growth with long-term sectoral expansion.
