Mumbai For some time, there has been a flood of news on social media that industrialist Gautam Adani and his company have a lot of bank loans. All the leaders of Congress and opposition had also raised questions in this matter. He said that if the Adani Group fails, the country will suffer a loss of lakhs of crores. Adani Group’s reply has now come on this. The Adani Group has rubbished reports that it has a lot of bank loans outstanding. According to the group, its net debt has come down against its operational profit. By issuing a note, the Adani Group has also told that it has repaid more than half of the loans taken from banks.
The 15-page note of the Adani Group states that the ratio of debt to interest, tax, income before tax has been reduced to 3.2 times. 9 years ago it was 7.6 times. The note said that the Adani Group is working on a strong business model. It had a gross debt of Rs 1.88 lakh crore and a net debt of Rs 1.61 lakh as of March 2022. The group has said that the proportion of loans taken from public sector banks was 55 percent in the financial year 2015-16, but in 2021-22 it has come down to 21 percent. Whereas, 31 per cent of the loans were from private banks during 2015-16. This has come down to 11 per cent. At the same time, the share of debt through bonds has increased from 14 to 50 percent.
Let us tell you that Fitch Group company Creditsites had said in its report last month that Adani Group had huge debt. It was said in the report that the Adani Group is using this loan to set up new business and increase the old business. It was only after this that questions were being raised on the issue of debt repayment due to the failure of the Adani Group.