Strong Liquidity And Credit Discipline Drive Adani Group’s Financial Resilience

The Adani Group has reported stable and improving credit metrics in its FY25 Credit Summary, underscoring the financial strength of its diversified infrastructure portfolio. The group said it maintained high levels of liquidity and significantly reduced debt, while enhancing asset quality across businesses.

As of 31 March 2025, the Adani Portfolio held cash reserves of Rs 53,843 crore, sufficient to meet debt servicing obligations for 21 months. This exceeds the group’s stated policy of maintaining liquidity to cover at least 12 months and one day of repayment commitments.

The Adani Group reported an improvement in its leverage profile for FY25, with the net debt-to-Ebitda ratio falling to 2.6x, down from 3.8x in FY19, according to the group’s latest financial and credit summary.

With 90% of Ebitda now generated from assets rated AA and above, and nearly 50% from AAA-rated assets, the group has seen an improvement in credit ratings. The average cost of debt declined to 7.9% in FY25 from 9% in FY24.

Over 86% of the group’s debt has a maturity of more than one year, with a balanced repayment profile across all businesses. Only 10% of the total debt is floating-rate, limiting interest rate sensitivity.

The group was supported by strong operating performance and rising fund flows from operations, which reached Rs 66,527 crore.

The release described FY25 as a year marked by high Ebitda, record asset addition, and a continued focus on capital efficiency. These outcomes, it said, reflect the group’s commitment to building long-term financial resilience through disciplined credit management and robust liquidity planning.