Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations
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4 weeks ago

Adani Group says companies have sufficient liquidity, assures investors about servicing debt obligations

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New Delhi, Nov 25 Billionaire Gautam Adani's conglomerate on Monday showcased its cash reserves and profits that are enough to service debt obligations as well as meet growth plans as it reassured investors about business as usual despite a US bribery indictment against the founder. The ports-to-energy conglomerate, whose chairman Adani and two other executives have been indicted in a US court for allegedly bribing Indian officials to secure solar power contracts, in a presentation to investors highlighted cash balances of ₹55,024 crore exceeding long-term debt repayments for the next 28 months. Outlining the group's liquidity position, the note said, "Adani portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani portfolio companies had cash of ₹53,024 crore, which was close to 21 per cent of its total gross debt outstanding." Growth Without Debt In the past, the group had announced plans to invest more than ₹8 lakh crore across portfolio companies in the next 10 years.

History of this topic

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