Adani Group delivers stellar H1 FY26, records highest-ever capex

Ahmedabad (Gujarat) [India], November 24 : Adani Group on Monday reported that it has recorded its highest-ever capital expenditure (capex) in the first half of the current fiscal 2025-26, the conglomerate said in a statement.

The Adani PortfolioIndia's leading infrastructure and utilities portfoliotoday announced its H1 FY26 Financial Performance and the Credit and Results Compendium.

The documents provide an overview of the portfolio's financial performance and offer detailed insights into its credit strength and long-term resilience.

Jugeshinder Singh, Group CFO, Adani Group, said: "Our core infrastructure businesses continue to deliver strong double-digit growth even as we execute one of the largest capex programs, aligned with India's Viksit Bharat capex super cycle. Adjacency businesses are also showing momentum. In H1 FY26, we recorded our highest-ever capex in the first half despite seasonal factors."

Importantly, its debt metrics continue to remain below the guided range even after doubling capex to Rs 1.5 lakh crore, Singh added.

"What took 25 years to build, we are now gearing up to replicate within a single year, and as new assets become operational on schedule, we expect to sustain returns on asset of 15-16%. Our focus remains on flawless execution and world-class operations. With rising AAA domestic ratings and stable USD ratings, our long-tenor infrastructure assets are increasingly attractive to global institutions," Singh further said in the statement.

The Group remains on track to deliver its rs 1.5 lakh crore 2025-26 capex plan equivalent to the Adani portfolio's total asset base until 2018-19.

Adani Enterprises Ltd., the flagship incubator of the Adani Portfolio, recorded the largest increase in gross assets of Rs 17,595 crore (USD 2 Bn). Adani Green Energy Ltd. and Adani Power Ltd. added assets worth Rs 12,314 Cr (USD 1.4 Bn) and Rs 11,761 crore (USD 1.3 Bn), respectively.

The following are company-wise highlights:

Adani Enterprises Ltd: ANIL solar modules sales stood at 2.44 GW up 3%; Wind Turbine Generator (WTG) sales increased to 63 sets, up 13%; The greenfield Navi Mumbai International Airport was inaugurated; to become operational in the current quarter; Bagged two new road projects Munger-Sultanganj project and SultanganjSabour project; and Received Letter of Award for Ropeway Project between Sonprayag and Kedarnath.

Adani Green Energy Ltd: Operational capacity increased by 49% YoY to 16.7 GW with the addition of 4.2 GW solar, 491 MW wind plants, and 805 MW hybrid plants; and Capacity Utilisation Factor (CUF) at 24.8%, 37.8% and 39.1% for solar, wind, and hybrid plants, respectively.

Adani Energy Solutions Ltd: Secured a new transmission project - WRNES Talegaon line, taking the order book to INR 60,004 Cr at the end of H1 FY26.

Adani Power Ltd: Added 4.5 GW of new Power Purchase Agreements; and Target increased to 42 GW by 2032, from the current capacity of 18.15 GW.

Adani Ports & SEZ Ltd: Volume grew by 11% to 244 MMT (H1 FY26) from 220 MMT (H1 FY25); Colombo West International Terminal (CWIT) commenced operations in Apr '25, handling over 350,000 TEUs, including 100,000+ TEUs in Aug '25.

Ambuja Cements Ltd: Ambuja Cements achieved 107 MTPA capacity; and Cement sales volume for H1 FY26 at 35 MT (increased by 20% Y-o-Y).

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