Gautam Adani
Good news has come from America for Adani Group. In fact, American research firm Bernstein has said in its report that the financial condition of Adani Group is better now than when the group was hit by the Hindenburg Research report. Bernstein has said in one of his reports that the shares pledged by the promoters of Adani Group have decreased rapidly. Also the company has raised less debt. This has strengthened the financial position of the Group in the last two years. The research firm said the risks under Gautam Adani’s leadership have reduced compared to 2 years ago.
There was a selloff in shares after Hindenburg Research
Hindenburg Research, in its report in January 2023, had accused Adani Group of fraud in financial accounts and manipulation of share prices. After this, there was a big sale in the shares of Adani Group companies. The market cap of the group had reduced to half. However, Adani Group managed to overcome Hindenburg’s allegations. Even after that, many allegations have been leveled against the group.
Debt burden on the group reduced
The research company said that the debt on Adani Group has reduced in the last few years. The share of banks in the group’s debt was 86 percent in the financial year 2015-16, but it came down to only 15 percent in the financial year 2023-24. Apart from this, the share of bonds increased from 14 percent in the financial year 2015-16 to 31 percent in the financial year 2023-24. Bernstein believes the group’s cash reserves have also increased significantly over the past year and a half. Its cash reserves were Rs 22,300 crore in March 2023, which increased to Rs 39,000 crore in September 2024.
What did Bernstein say?
The research firm has said in its report that Adani Group has become better than before. The group is now in a very strong position with no share pledge, low debt raising, debt servicing and better valuations. Bernstein said that if we look at the share pledge phenomenon for the group, there has been a big decline in its companies. Pledge of shares in Adani Power has come down from 25 percent to 1 percent. Whereas in Adani Ports it has reduced from 17 percent to zero. Apart from this, promoter stake in the group has also increased except Adani Energy Solutions.
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