The Adani group, whose chairman and founder Gautam Adani and others have been indicted for bribery in the US, said it recorded a combined EBITDA of ₹44,212 crore in the first half of FY25, up 25.5 per cent of the year and has enough cash on its books to cover debt obligations for the next 12 months.

The US Department of Justice and the US Securities Exchange Commission made the bribery allegations last Thursday. They alleged that Adani and others had paid bribes of $265 million to Indian government officials to secure lucrative solar energy contracts. The SEC has also issued summons to Gautam Adani and his nephew Sagar Adani.

The group has denied the allegations, and group CFO Jugeshinder Singh has said that a more detailed response will be made after it obtains legal approvals.

Performance metrics

The group’s core infrastructure business, consisting of utilities, transport, and ports, accounted for nearly 87 per cent of the total EBITDA, the group said. Companies that form part of the core infrastructure business are Adani Green Energy, Adani Energy Solutions, Adani Ports and SEZ, Adani Power, and Adai Total Gas.

On an annualized basis, its EBITDA was at ₹88,912 crore, it added.

At the end of September, its asset base was ₹5.53 lakh crore, and its cash balance at the portfolio level was ₹53,024 crore, just over a fifth of its gross debt. Portfolio companies in the group had invested ₹75,277 crore.

The group said it had sufficient liquidity to cover all debt servicing requirements for at least the next 12 months.

It said the emerging infrastructure businesses of the group under Adani Enterprises, which include airports, solar and wind manufacturing, and roads, reported EBITDA growth of over 70 per cent in the first half.

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