Adani Group’s trailing 12-month EBITDA is set to hit ₹1 lakh crore by December, powered by its core infrastructure operations and supported by energy, airports and roads, sources said.
By September additional solar capacity will be commissioned, and this will add to the operating income, officials said.
The growth in the group has been driven by flagship Adani Enterprises’ emerging businesses such as solar and wind manufacturing, which are part of the green hydrogen production chain, airports, and roads. Though still small their combined EBITDA rose 70 per cent to ₹2,991 crore. They now contribute 13.3 per cent of total EBITDA, up from 7.2 per cent a year ago.
The combined net profit of the group in Q1 of FY25 was 50 per cent higher at ₹10,279 crore. The EBITDA of its core infrastructure business increased 42 per cent and accounted for 86 per cent of the total.
“This expansive yet resilient growth is attributed to Adani’s strategic focus on its infrastructure platform, which provides high stability and predictability,” a statement by the group said.
The group’s net debt to EBITDA ratio was at 2.2 at the end of March 2024.
The solar module manufacturing business saw module sales more than double on year in the quarter. The photovoltaic cell lines becoming operational lowered costs resulting in higher profitability.
The airport business continued to see strong growth from rising passenger movement, increasing consumer offerings, and the addition of routes, airlines, and flights across seven operational airports.
Adani Enterprises’ infrastructure businesses are playing a significant role in the group’s growth, with EBITDA expanding close to 70 per cent on year, the group said.
Utility segment’s EBITDA rose 41.4 per cent, and in this segment Adani Power saw a 53.6 per cent increase in EBITDA, driven by a 38 per cent rise in sales. Adani Green Energy also reported a strong performance, with EBITDA growing 30 per cent as operational capacity expanded 31 per cent.
Adani Ports & SEZ reported a 29.6 per cent increase in EBITDA in the quarter and the port operator also signed two new port concession agreements and secured one new port O&M contract.