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From Strength to Strength: Adani’s strategic initiatives enhance credit profile

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Ahmedabad, 24 August 2023: In a significant milestone, the Adani Group, through a series of strategic initiatives, has increased its liquidity position at the portfolio level to finish with a cash balance of INR 42,115 crore at the end of the June quarter. The portfolio companies diligently focused on bolstering their financial standing, ensuring a robust foundation for their ambitious projects.

The following are the key measures that contributed to this positive transformation:

  1. Net debt to run-rate EBITDA for FY23 fell to 2.8x as compared to 3.2x a year ago
  2. Gross Assets to Net debt was 2.3x at the end of FY23
  3. Net Debt to Equity at 0.8x at the end of FY23
  4. Debt coverage ratio improved to 2.02x for FY23 as compared to 1.47x for FY22