July 11, 2025 08:25 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Pakistani actress Humaira Asghar, whose decomposed body was recovered from Karachi flat, died 9 months ago: Report | Radhika Yadav's death: Father spent 2.5 crore on tennis | 'I wouldn't have continued without high command's support': Karnataka CM Siddaramaiah amid power struggle with DKS | RSS chief Mohan Bhagwat favours retirement at 75, Opposition says it's a message for Modi | Not me or Mamata primarily responsible to strengthen INDIA bloc, says Omar Abdullah blaming Congress | Aadhaar, Ration and Voter IDs must be valid for SIR: Supreme Court to Election Commission | 'Timing and not exercise is the problem': Supreme Court on Election Commission's voter list revision drive in Bihar | ED files case against 29 celebs including Vijay Deverakonda, Rana Daggubati for endorsing betting apps | Enforcement Directorate raids Karnataka Congress MLA's premises in FEMA case probe | Maharashtra MLA canteen's license cancelled after Sena lawmaker assaulted staff over poor quality food
Adani Group
Adani Group publishes operational report following the US indictment of founder Gautam Adani on bribery allegations. File photo from Wallpaper Cave

Adani Group assures liquidity to meet debt obligations amid legal challenges

| @indiablooms | Nov 25, 2024, at 10:28 pm

Ahmedabad/IBNS: Adani Group has reassured investors that its listed companies have sufficient cash reserves to meet debt obligations for the next 12 months.

This announcement comes as the conglomerate provides its first operational update since US authorities indicted founder Gautam Adani in a bribery case last week. 

In its "half-yearly business compendium," Adani Group reported a strong financial performance, with earnings before interest, taxes, depreciation, and amortization (EBITDA) surpassing $10 billion for the first half of the fiscal year.

The company projects a full-year EBITDA of $12 billion. 

"Each of our portfolio companies has enough liquidity to fulfill all debt servicing requirements for at least the next 12 months," the group stated on Monday (Nov. 25). 

The report follows Adani's involvement in a criminal case where he and seven others are accused of orchestrating a bribery scheme to secure favorable solar power contracts worth over $2 billion in profits.

Adani Group has denied the allegations, labeling the US charges as "baseless" and vowing to pursue all legal avenues. 

Shares of Adani's publicly listed companies took a significant hit following the US charges, losing over $20 billion in market value.

However, on Monday, Adani Enterprises and Adani Ports saw share price gains, rising 3.6 percent and 2.5 percent, respectively.

Despite this recovery, Adani Enterprises is down 21 percent since the beginning of the year, while Adani Ports has risen 11 percent over the same period. 

While the share prices showed some rebound, the group’s dollar bond prices declined.

The 2027 maturity bonds for Adani Ports fell by 1.6 cents, trading at 88.98 cents on the dollar.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu