Cash Reserves Sufficient To Service Debt For 28 Mths

New Delhi: Billionaire Gautam Adani’s conglomerate Adani Group on Monday showcased its cash reserves and profits that are enough to service debt obligations as well as meet growth plans as it reassured investors about business as usual despite a US bribery indictment against the founder.

The ports-to-energy conglomerate, whose Chairman Adani and two other executives have been indicted in a US court for allegedly bribing Indian officials to secure solar power contracts, in a presentation to investors highlighted cash balances of Rs55,024 crore exceeding long-term debt repayments for the next 28 months. Equity now accounts for almost two-thirds of its total asset creation, a stark contrast to five years ago.