Adani Portfolio logs all-time high EBITDA at Rs 89,806 crore in FY25, ROA at record 16.5 pc

IANS May 22, 2025 221 views

The Adani Portfolio has delivered exceptional financial performance in FY25, marking a significant milestone in its growth trajectory. With an all-time high EBITDA of Rs 89,806 crore and a remarkable Return on Assets of 16.5%, the group has demonstrated robust operational efficiency. The portfolio has strategically reduced its debt leverage while maintaining strong asset growth across multiple sectors. These results reflect the group's continued focus on operational excellence and financial prudence.

"A key highlight of FY25 is the continued industry-beating Return on Assets of 16.5 per cent" - Jugeshinder 'Robbie' Singh, GCFO Adani Group
New Delhi, May 22: The Adani Portfolio of companies on Thursday reported a landmark fiscal result for FY25, as EBITDA scaled to an all-time high of Rs 89,806 crore ($10.5 billion), up 8.2 per cent year-on-year.

Key Points

1

- Portfolio EBITDA reaches all-time high of Rs 89,806 crore

Excluding non-recurring prior period items, the growth stands even higher at 18 per cent (on-year). Meanwhile, profit after tax (PAT) rose to an all-time high of Rs 40,565 crore.

Gross assets increased to Rs 609,133 lakh crore at a six-year (FY19-FY25) CAGR of over 25 per cent, as the Adani Portfolio registered record capex of Rs 126,000 crore ($14.7 billion).

"A key highlight of FY25 is the continued industry-beating Return on Assets (RoA) of 16.5 per cent, which is among the highest in any infrastructure business globally, underpinning the attractive asset base and the execution capabilities of the Adani Portfolio to continuously churn out the best quality assets across sub sectors," said Jugeshinder 'Robbie' Singh, GCFO, Adani Group.

"Additionally, we have undertaken various initiatives related to governance and ESG, viz. Tax Transparency report released by all portfolio companies, in addition to all the other initiatives introduced over the past years, resulting in industry-best ESG scores and performance by international ESG rating agencies," he added.

Cash after tax (CAT) or Fund Flow from Operations (FFO) increased to Rs 66,527 crore ($7.8 billion), up 13.6 per cent, driven by strong operating leverage across businesses.

According to the company, higher cash flows helped record asset addition of Rs 1.26 lakh crore -- the highest in the history of Adani Portfolio, taking the total gross assets to Rs 6.1 lakh crore ($71.2 billion). Three-fourths of this was added in the past six years.

High growth in profits has led to a sharp reduction in the leverage of portfolio companies - portfolio-level net debt to EBITDA has reduced from 3.8 times in FY19 to as low as 2.6 times now.

Robust financial performance across businesses resulted in consistent ratings improvement with milestone achievement in FY25.

Nearly 90 per cent of EBITDA is now generated from assets with domestic ratings of 'AA' and above, as compared to 63 per cent and 48 per cent two and six years ago, respectively.

As a result, the cost of debt for FY25 was 7.9 per cent against 9 per cent in FY24 and 10.3 per cent in FY19.

According to the company, Adani Portfolio had a cash balance of Rs 53,843 crore (As on 31 March 2025), representing 18.5 per cent of gross debt and "is sufficient to cover 21 months of debt servicing requirements comfortably above our stated 12 months+1 day of debt servicing policy".

Reader Comments

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Rajesh K.
Impressive numbers by Adani Group! 16.5% ROA in infrastructure sector is no joke. Shows what Indian companies can achieve with proper execution. Hope this growth translates to more jobs and better infrastructure for our country 🇮🇳
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Priya M.
While the financials look strong, I wish there was more transparency about their environmental impact. ESG scores are good but we need to see ground-level changes in pollution control, especially in their port and energy projects.
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Amit S.
₹1.26 lakh crore capex is massive! This shows confidence in India's growth story. Adani's success means more infrastructure development - roads, ports, airports that benefit common people. Hope they maintain this momentum!
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Neha T.
The debt reduction from 3.8x to 2.6x is commendable. After all the controversy last year, this shows financial discipline. But I wonder - how much of this growth is organic vs acquisitions? Would like to see segment-wise breakdown.
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Vikram J.
As a small investor, I'm happy to see such performance! Adani stocks have given good returns this year. Their focus on governance improvements is reassuring. Hope they continue delivering value to shareholders 🤞
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Sanjay R.
Good numbers but I'm concerned about monopoly in some sectors. When one group controls so much infrastructure, does it limit competition? Government should ensure level playing field for other companies too. Growth should be inclusive.

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Adani Group Financial Performance Infrastructure Robbie Singh EBITDA Return on Assets