Adani Group: Record CapEx Accelerates FY26 Growth

Prime Highlight

Adani Group reported its highest-ever H1 FY26 capital expenditure at ₹1.5 lakh crore, signaling aggressive expansion across infrastructure and utilities.
The company expects to recreate in one year the asset scale it built over 25 years, supported by strong credit indicators and rising global investor interest.

Key Facts

Adani Enterprises added ₹17,595 crore in gross assets, while Adani Green Energy expanded its operational capacity by 49% to 16.7 GW.
Adani Ports handled 244 MMT of cargo (up 11%), and Ambuja Cements reached 107 MTPA capacity with a 20% rise in sales.

Background

The Adani Group on Monday reported its highest-ever capital expenditure for the first half of fiscal year 2025-26, marking a strong period of expansion across its infrastructure and utilities businesses. The company shared its H1 FY26 Financial Performance and Credit Results Compendium, which highlights steady growth and better credit strength.

Group CFO Jugeshinder Singh said the company continues to invest aggressively as part of India’s Viksit Bharat capex growth cycle. “Our main infrastructure operations are maintaining robust double-digit growth, even as we carry out one of the company’s biggest capital expenditure initiatives,” he said. He noted that even after doubling capex to ₹1.5 lakh crore in H1, debt indicators remained better than the guided range.

Singh added that the Group is rapidly scaling up assets. He said that what took a quarter-century to build is now set to be recreated within a single year. With new projects nearing completion, the Group expects to sustain returns on assets between 15% and 16%. He also highlighted the growing interest of global investors due to strong domestic and USD credit ratings.

Several portfolio companies showed significant growth. Adani Enterprises recorded the largest increase in gross assets at ₹17,595 crore, with progress across energy, airports, and transport projects. The Navi Mumbai International Airport was inaugurated and is slated to begin operations this quarter.

Adani Green Energy increased its operational capacity by 49% to 16.7 GW, adding new solar, wind, and hybrid projects. Adani Power signed 4.5 GW of new power agreements and raised its capacity goal to 42 GW by 2032.

Adani Ports handled 244 MMT of cargo in the first half of the year, an 11% increase from last year. Ambuja Cements reached a capacity of 107 MTPA and saw a 20% rise in cement sales.

The Group reaffirmed its commitment to delivering its ₹1.5 lakh crore capex plan for FY26 on schedule, supporting India’s long-term infrastructure growth.