Adani Group Now In Much Stable Mode

New Delhi: Ports-to-energy Adani Group is better off financially now than at the time when it was under attack from short-seller Hindenburg, US-based research firm Bernstein said citing dramatic drop in shares pledged by promoters and low leverage.

The last big event for the group was in January 2023 when Hindenburg accused it of accounting and financial fraud, and the latest one happened on November 21 when US authorities filed an indictment against the founder chairman of the conglomerate Gautam Adani and key aides in a bribery related case. Adani Group had repeatedly denied all charges in the Hindenburg report as well as the ones brought by the US authorities last month.

Bernstein in a report said it is presenting a top-down view on how the groups leverage, share-pledges, debt-repayment and relative valuations have evolved in the last two years to assess whether the risks are lower than earlier. The group is now in a much stronger position with no share-pledges, low leverage, debt repayments and improved valuations.