The Adani Group reported a rise in its net debt-to-EBITDA ratio to 2.46 times for the first half of fiscal 2025, exceeding its guidance range of 3.5-4.5 times. This reflects the group's ambitious growth, offset by increased leverage. Despite this, the group maintains strong liquidity, with cash reserves of Rs 53,024 crore, sufficient to cover 28 months of debt repayments. The debt-to-EBITDA ratio increased from 2.19 times in FY24 to 2.46 times in September 2024.
