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Have enough cash to service debt, says Adani Group
The Morning Standard
|November 26, 2024
Amid brewing troubles after the US Department of Justice (DoJ) indictment in a bribery case, the Adani Group has reassured investors that all its listed companies have sufficient liquidity to cover all debt servicing requirements for at least the next 12 months.
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In a credit update note released on Monday, the group said that cash balance at portfolio level was at ₹53,024 crore, which is 20.53% of its gross debt. "This amount is sufficient to cover the next 28 months of debt servicing requirements," Adani Group said in a media statement.
Total gross debt of the company at the end of September 30, 2024 was ₹2.4 lakh crore. The average maturity of the debt of all its listed companies is 7.5 years.
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