Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

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29 September 2022 (Thursday) | 9am-5pm

Adani Group said that its group companies’ debt load reduced while responding to CrediSights’ report which indicated the group was deeply overleveraged. The company added further that the leverage ratios of its companies continue to be healthy and are in-line with industry benchmarks. It highlighted in particular that its net debt-to-EBITDA ratio fell to 3.2x in March 2022 from 7.6x since 2013. In the last few years, the group has expanded its business into cement, alumina, media, airport operator, and data centres. Now, the conglomerate has also shown its intention to invest $70bn in the renewable energy segment and become the world’s largest renewable-energy producer. The company stated that its EBITDA/gross interest ratio was at 1.98 while CreditSights published it at 1.6. As per Adani Group, as of March 2022, Adani Enterprises had gross debt of INR 284.8bn ($3.6bn) vs. INR 416bn ($5.21bn) as per CreditSights’ figure. Adani Green Energy’s gross debt was at INR 443.9bn ($5.6bn) vs. INR 528bn ($6.6bn) and Adani Power’s was at INR 414.2bn ($5.2bn) vs INR 582bn ($7.3bn), the latter being CreditSights’ figures. Adani Group noted that it excluded shareholder subordinated debt while stating the above figures.

Adani Ports’ 3.828% 2032s traded lower by 0.4 points to 81.08, yielding 6.56%. Adani Green’s 4.375% 2024s traded lower by 0.1 points to 90.13, yielding 9.94%

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