MUMBAI - The comments came in a credit report aimed at reassuring investors after a critical investigation by US short-seller Hindenburg Research in January.
Scrutiny of the cash position of group companies has intensified as they pay down borrowings, given that a spike in yields on Adani debt after the Hindenburg report would make refinancing prohibitively expensive.
Adani Group's gross debt stood at 2.26 trillion rupees (S$36.2 billion) at the end of September, and that amount is forecast to remain steady until the end of March, according to the group's release on Tuesday.
The figure broadly matches the tally cited by the firm's chief financial officer at the end of January..
The group's cash balances increased to 316.5 billion rupees in December from 297.5 billion rupees at the end of September, it said.
"Our businesses operate on longterm annuity contracts generating assured and consistent cash flows with no market risk," the company said in the credit report.
The financial health of Adani's empire is under intense scrutiny after Hindenburg accused it of inflating revenues and manipulating stock prices.
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