Adani Group cites reduced debt load...
Adani Group cites reduced debt load...
Gautam adani has now become the richest person in india and the third richest person in the world. His proprietary adani Group has been continuously acquiring many companies. Meanwhile, it is feared that the adani Group is not really that rich and has taken all the loans. Now the adani Group itself has dismissed these apprehensions, saying that it has repaid more than half the debt. adani Group has also told that in the last few years, the income of companies has also increased very fast.Adani Group has said that its net debt to operating profit ratio has improved. Apart from this, he has repaid more than half of the loans taken from public sector banks. The adani Group has issued a 15-page note in response to the Creditsites report on the high debt burden. It said that the adani Group companies have consistently repaid debt and the ratio of debt to interest, income before tax, value depreciation has come down to 3.2 times as compared to 7.6 times nine years ago. Debt reduced from 55 percent to 21 percentAccording to this note by the adani Group, "The business of the adani Group companies operates on a simple yet robust and repeatable business model with a focus on growth and generation, operations and management and fund management plan." Considering the cash available with the adani Group, it had a gross debt of Rs 1.88 lakh crore and a net debt of Rs 1.61 lakh crore in march 2022. The adani Group said that in the financial year 2015-16, the proportion of loans taken from public banks in the total debt of its companies was at 55 percent, but in the financial year 2021-22, it came down to just 21 percent of the total debt.
Gautam adani has now become the richest person in india and the third richest person in the world. His proprietary adani Group has been continuously acquiring many companies. Meanwhile, it is feared that the adani Group is not really that rich and has taken all the loans. Now the adani Group itself has dismissed these apprehensions, saying that it has repaid more than half the debt. adani Group has also told that in the last few years, the income of companies has also increased very fast.Adani Group has said that its net debt to operating profit ratio has improved. Apart from this, he has repaid more than half of the loans taken from public sector banks. The adani Group has issued a 15-page note in response to the Creditsites report on the high debt burden. It said that the adani Group companies have consistently repaid debt and the ratio of debt to interest, income before tax, value depreciation has come down to 3.2 times as compared to 7.6 times nine years ago. Debt reduced from 55 percent to 21 percentAccording to this note by the adani Group, "The business of the adani Group companies operates on a simple yet robust and repeatable business model with a focus on growth and generation, operations and management and fund management plan." Considering the cash available with the adani Group, it had a gross debt of Rs 1.88 lakh crore and a net debt of Rs 1.61 lakh crore in march 2022. The adani Group said that in the financial year 2015-16, the proportion of loans taken from public banks in the total debt of its companies was at 55 percent, but in the financial year 2021-22, it came down to just 21 percent of the total debt.