Adani Group CFO Jugeshinder Singh outlined a disciplined debt strategy: targeting 12.5% annual repayments, raising funds primarily for energy and logistics assets, and diversifying maturities from 1-3 year papers to 20-year bonds. This supports the group's $100 billion capex while maintaining net debt/EBITDA below 3.5x-4.5x thresholds.
Adani Group's chief financial officer detailed a structured approach to debt management amid accelerated capex. The conglomerate aims to repay 12.5% of its debt annually, leveraging strong cash flows from core infrastructure—now at ₹57,157 crore (17% of gross debt of ₹3.36 lakh crore as of September 2025).
New fundraising will prioritise energy transition (renewables, green hydrogen) and logistics (ports, airports), with tenors spanning short-term 1-3 year commercial papers to long-dated 20-year infrastructure bonds. Domestic banks hold 50% of borrowings, complemented by global banks (23%) and capital markets (18%), reflecting improved ratings and investor confidence.
This strategy aligns with H1 FY26's record ₹67,870 crore capex and EBITDA growth, keeping net leverage at 3x—below guided ranges—while refinancing $2.7 billion over seven years.
Key highlights
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Annual debt repayment target: 12.5% of outstanding portfolio.
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Fundraising focus: Primarily energy and logistics assets.
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Debt tenors: 1-3 year papers to 20-year infrastructure financing.
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Balance sheet: Gross debt ₹3.36 lakh cr; cash ₹57k cr; net debt/EBITDA 3x.
Sources: Adani Group credit updates and H1 FY26 results; Economic Times; New Indian Express.