Overview

• Adani Group has accelerated its $100 billion capital expenditure plan to be fully deployed over the next five to six years, concentrating on energy, construction materials and mining and metals sectors.
• It plans to borrow $30 billion from domestic and international markets and fund the remaining capex through internal cash flows and company profits.
• Energy projects will account for about 83–85% of the investment, targeting a sevenfold increase in renewable capacity and storage alongside a doubling of conventional power generation.
• Adani Airports Holdings Ltd. is expected to demerge and list in an IPO by March 2027, while the group also intends to reduce promoter stakes to 60–65% in maturing businesses such as ports and metals.
• CFO Robbie Singh forecasts the net debt to EBITDA ratio will peak at around 2.5–3 times by 2028 before falling below 2.5 and expects approximately $16 billion in returns on capital over the capex cycle.