Adani reports sufficient cash after rout sparked by US charges
The Straits Times|November 26, 2024
India's Adani Group said it has enough cash to service debt obligations, as it sought to reassure creditors after a US bribery indictment against founder Gautam Adani triggered a sell-off in the conglomerate's stocks and bonds.

Cash balances exceed long-term debt repayments for the next 28 months, while portfolio-level cash balances were at US$6.33 billion (S$8.53 billion), the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released on Nov 25.

The group has a strong asset base of US$66 billion built over three decades, according to the report. Adani said its gross assets to net debt ratio improved to 2.7 in the first half from 2.63 previously.

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