In response to the incident, Didwana CMHO Dr Anil Judia set up a three-member committee to investigate the case.

Schools in the National Capital Region should open now despite the high pollution levels, the Supreme Court said today, pointing to three issues that will not get solved if students stay home. The court, though, left the final decision to the CAQM (Commission for Air Quality Management), including the one on continuing the ban on physical classes for Classes 10 and 12.

A large number of students do not have air purifiers in their homes and hence there is no difference between children sitting at home and children going to school, the judges said. Moreover, a large number of students do not have the facilities to participate in online education and will fall behind if the online classes continue further.

Last but not the least, the court said, a number of students are being deprived of the mid-day meal facility as schools and anganwadis remain closed, the judges pointed out. 

“Let the commission take a decision at the earliest even without copy of the order… we expect a decision to be taken latest by today or tomorrow morning,” the judges said in their order. 

In its order today, the top court also said that due to the implementation of GRAP 4 rules, many sections of society have been adversely affected. 

Several section of society adversely affected due to GRAP IV (rules) and the commission (CAQM) has all the powers under the act to issue directions to various authorities to ensure that persons in category in labourers and daily wagers do not suffer. Thus we direct commission to take several mitigating measures under Section 12 of the Act,” the judges said. 

“A chart on the Air Quality Index in the NCR region has been submitted and it shows AQI from Nov 20 to 23 ranges from 300 to 419. We direct commission to place the updated data on next date so that court can take steps on Grade 4 measures,” the top court said. 

The Adani Group has announced robust financial health and steady growth through its latest H1 FY25 and Trailing-Twelve-Month (TTM) results, despite external pressures.

The Trailing-Twelve-Month EBITDA  –  earnings before interest, taxes, depreciation, and amortisation – surged 17 per cent YoY to USD 10 billion. Simultaneously, funds from operations (FFO) reached USD 7 billion, growing at over 30 per cent annually for five years.

Net debt-to-EBITDA stood at 2.46x, below the group’s guidance range of 3.5x-4.5x. Liquidity across portfolio companies remains robust, with reserves covering debt obligations for the next 12 months and beyond. Adani Group’s asset base expanded by USD 9 billion in H1 financial year 2025 to USD 60 billion, while gross debt grew by only USD 2 billion. Equity now accounts for 63 per cent of total funding.

Debt maturities until the 2034 financial year are comfortably manageable with current levels, even assuming no growth. This stability aligns with the group’s long-term plans to invest USD 100 billion over the next decade.

Adani Group’s core infrastructure businesses, which include energy, transport, and utilities, remain the bedrock of its performance, contributing 86.8 per cent of H1 for financial year 2025 EBITDA. Emerging businesses in green energy, airports, and roads saw EBITDA growth of 70.1 per cent year-over-year.

Other businesses:

Adani Enterprises: Passenger volumes across airports rose 6 per cent  YoY, while solar module sales jumped 91 per cent.

Adani Green Energy: Operational capacity increased by 34 per cent YoY, with construction commencing on a 500 MW hydro pump storage project.

Adani Energy Solutions: Expanded its transmission network by 2,760 ckm and secured three new projects.

Adani Ports and SEZ: Cargo volumes grew 9 per cent year-over-year, while acquisitions bolstered operational capacity.

Adani Cements: Acquisitions raised the group’s cement capacity to 97.8 million tonnes per annum.

The Adani Group maintained cash reserves of INR 53,024 crore as of September 2024, equivalent to 21 per cent of its gross debt. These reserves ensure liquidity for 28 months of debt servicing.

What It Means

1. Trailing-Twelve-Month EBITDA at USD 10 billion – up 17 per cent year-over-year

What it means: Strong EBITDA growth

2. Fund from operations at USD 7 billion for the last 12 months and growing at over 30 per cent for the past 5 years

What it means: Growth in cash flow from operations is strong and has sustained 

3. Net debt to EBITDA is at 2.46x.

What it means: Debt to EBITDA remains at reasonable levels

4. Liquidity position across our portfolio companies remains strong with sufficient liquidity to cover all debt obligations including refinancing for the next twelve months plus one day.

What it means: Healthy liquidity to cover to address debt

5. Debt maturities for each year until financial year 2034 are less than the Trailing-Twelve-Month September 2024 FFO

What it means: Even current funds from operations with no growth should be sufficient to cover debt maturities 

6. Asset base has increased by USD 9 billion to USD 60 billion in H1 financial year 2025. During the same period, gross debt has increased by only USD 2 billion.

What it means: Asset base growing faster than debt

7. Equity now accounts for 63 per cent of total debt – showing lowering dependence on debt.

What it means: lower dependence on debt

8. Exposure to Indian banking at USD 11 billion or 42 per cent. However, the net exposure is very low after accounting for cash of USD 6 billion, most of which is parked with Indian banks.

What it means: Net exposure to Indian banking is low

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)