The Adani Portfolio, India’s leading infrastructure and utilities portfolio, on Tuesday has delivered the highest annual capex by any Indian corporate at Rs 1,52,967 crore in FY26, with gross asset base increased to Rs 7,85,098 crore.
EBITDA touched an all-time high of IRs 94,834 Cr, up 5.6 per cent year-on-year (YoY), with core infrastructure’ platform contributed 87 per cent of this, lending a high level of stability and visibility.
“FY26 marks an important inflection point for the Adani Portfolio, as Adani Portfolio companies began its next phase capex cycle. The scale of capital deployment during the year is comparable to the asset base we had built over our first 25 years, reflecting both the infrastructure opportunity before India and the group’s confidence in its long-term growth trajectory, according to the company’s statement.
Several major assets including Navi Mumbai International Airport, 5.1 GW renewable capacity and 3.37 GWh battery energy storage and Ganga Expressway were commissioned in the recent months, and the contribution from these assets will only fully reflect from this year onwards.
The company stated that sufficient liquidity is maintained across portfolio firms to cover debt servicing requirements for at least the next 17 months. As on March 31, 2026, Adani Portfolio had a cash balance of Rs 55,852 crore, representing 15 per cent of gross debt.
It highlighted that about 80 per cent of investments were directed towards core infrastructure platforms spanning energy, utilities, transport and logistics. Cash at FY26-end stood at Rs 55,852 crore, equivalent to 15 per cent of gross debt.
Furthermore, the borrowing costs declined to 7.8 per cent in FY26 from 9 per cent two years ago, supported by consistent rating upgrades.
As for some quick company-wise performance in FY26, Adani Enterprises raised Rs 24,930 crore via rights issue, strengthening equity base. Airports handled 95.3 million passengers across 8 assets.
Adani Green Energy’s operational capacity expanded by 5.1 GW to 19.3 GW in FY26, while Adani Energy Solutions’ under-construction transmission pipeline stood at Rs 71,779 crore. Also, more than 1 crore smart meters were installed; order book at 2.5 crore vs national opportunity of 10.3 crore.
Similarly, Adani Power’s PAF stood at 89 per cent and PLF at 67 per cent, reflecting steady operational performance. Adani Ports & SEZ’scargo volumes jumped 11 percent YoY to 500.8 MMT.
Meanwhile, Ambuja Cementscompleted acquisition of Orient Cement, strengthening market position. Also, its sales volumes rose 16.1 per cent YoY to 73.7 MT in FY26.
