Trial to triumph: Adani Group firms echo message in latest annual reports

Five Adani group listed entities - NDTV, Adani Ports and SEZ (APSEZ), Ambuja Cements, Adani Energy Solutions and Adani Green Energy (AGEL), have released their annual reports so far

‘From trials to triumph’. This was billionaire Gautam Adani’s message to the shareholders of the ports-to-energy conglomerate.
 

NDTV, Adani Ports and SEZ, Ambuja Cements, Adani Energy Solutions, Adani Enterprises and Adani Green Energy are the six Adani group companies that released their annual reports this week. Titled: ‘From Trial to Triumph’, Adani’s speech dwelled on the Hindenburg Research report released in January 2023.

He began the address by terming the US-based short-seller’s accusations as “baseless.” In his common message, Adani also highlighted the group’s renewed focus on liquidity and debt management.

 

“Amid the challenges, our liquidity became our greatest asset. Augmenting our cash reserves, we raised approximately Rs 40,000 crore more, comfortably covering the next two years of our debt repayment,” he said.
 

“We safeguarded our portfolio against any volatility by pre-paying Rs 17,500 crore in margin-linked financing,” he explained.

 “We dropped our debt to Ebitda ratio to 2.5x in six months from 3.3x at the end of March 2023. It is now at 2.2x. We should keep in mind that five years ago, this ratio stood at 7x,” he added.

Ebitda refers to earnings before interest, taxation, depreciation, and ammortisation.