Enough cash, no concerns on debt servicing: Adani Group

The group shares details on financial performance, credit profile to reassure investors

- Nehal Chaliawala

The Adani Group on Monday said that it has enough cash to service debt at all group firms in the next 12 months, in one of its first statements since the indictment of founder Gautam Adani by US federal prosecutors last week.

The group also released two presentations detailing its financial performance and credit profile, in what is seen as a bid to soothe investors' nerves.

Combined cash flows in the past 12 months were more than the annual debt repayments projected for each of the next 10 financial years, the Adani Group said in its press release.

This, it said, highlights that its earnings can manage its debt repayment obligations.

"Each of the portfolio companies has sufficient liquidity to cover all debt servicing requirements for at least the next 12 months," the press release said.

"Cash reserves now stand at ₹53,024 crore-20.53% of gross debt.