Adani Group has repaid a loan of $ 2.65 billion
[ad_1]
Meanwhile, despite the fall in the market, most of the shares of Adani Group are showing a boom today. Eight out of 10 group stocks are trading higher. The group says that the deleveraging program is proof that the company has no liquidity crunch. By March 12, the group had prepaid a loan of $2.15 billion. Its deadline was 31 March. Similarly, the promoters have repaid the $700 million loan taken to buy Ambuja Cements. It has been repaid with interest of $203 million. The combined net debt to operating ratio of Adani Group’s portfolio has improved from 3.81x in FY2022 to 3.27x in FY2023.
debt and balance
In the financial year 2023, the promoters sold shares of four listed companies of the group to GQG Partners for Rs 15,500 crore. The group says that its cash balance now stands at $4.75 billion (Rs 40,351 crore). The total cash balance and free flow from operations stood at Rs 77,889 crore. This is more than the debt maturity cover for the next three years. The company has to repay debt of Rs 11,796 crore in FY2024, Rs 32,373 crore in 2025 and Rs 16,614 crore in 2026.
[ad_2]
Source link
