ગુજરાતી
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Ahmedabad, 9 September 2022
As of March 2022, the country’s richest Indian Gautam Adani Group of companies currently has around Rs 2.22 lakh crore. Adani is one of the most indebted business groups in India.
The Adani Group had a debt of Rs 1.57 lakh crore in 2021. That is, within a year, there was a huge increase of 42 percent in their debt.
Holcim has signed a $10.5 billion deal to buy subsidiaries ACC Cements and Ambuja Cements. Therefore, the Adani Group, which is active in sectors ranging from ports to energy, has now entered the cement industry.
It is believed that the net worth of Gautam Adani is $ 102 billion.
In 1978, Gautam Adani came to Mumbai for the diamond business at the age of 16. Earlier he was helping his brother in a plastic factory in Gujarat. Women’s clothes and Chania were sold in the textile market of Ratanpol in Ahmedabad. The Adani Group started out as a commodity trader in the 1980s.
Later it ventured into sectors such as mines, ports, power, airports, data centers and defence. Recently it has also forayed into cement, media, green energy and alumina sectors. The Adani Group is the country’s largest private sector port and airport operator, city gas distributor and domestic miner.
Adani Group was established in 1988. First a company named Adani Enterprises was started which was engaged in the business of import-export.
In November 2020, it was reported that the dues of Gautam Adani Group of companies have crossed $ 30 billion. This includes $7.8 billion in bonds and $22.3 billion in debt. The market capitalization of the seven listed companies of the Adani Group now stands at $153 billion.
Creditsites of I Fitch Group claimed that Adani Group owes Rs 2,309 billion to six listed companies in 2021-22. If the situation worsens, the group’s plan could turn into a huge debt trap. One or more group companies may go bankrupt in repayment of debt.
No more profit, half of public sector banks’ debt, says Adani Group on September 6, 2022
In March 2022, the total debt of the group and Rs. Taking into account the cash balance of Rs 1.88 lakh crore. 1.61 lakh crore net debt.
India’s richest man Gautam Adani’s conglomerate has shown improvement in operating profit ratio. More than half of the loans given to public sector banks have been asked to address concerns. Group companies have reduced their net debt and EBITDA ratio from 7.6 times to 3.2 times for nine consecutive years.
In March 2022, Adani Group’s Rs. 1.61 lakh crore net debt.
In 2015-16, the credit share of public sector banks was 55 per cent. In 2021-22, loans from public sector banks accounted for 21 per cent of all loans.
In 2016, private bank credit stood at 31 percent. Which has now come down to 11 percent. Funds raised through bonds have increased from 14 percent of all loans to 50 percent now.
A development plan can eventually turn into a huge debt trap. Can come in case of emergency. One or more group companies can become debtors.
Over the years, Adani has ventured into everything from coal to ports, airports, data centers, cement, aluminum and city gas.
On 22 July 2022, Gautam Adani asked for a loan of Rs 14 thousand crore from SBI. Earlier, he had taken a loan of 2.21 lakh crore. Adani Enterprises of the Adani Group has sought a loan for setting up a PVC plant worth Rs 19,000 crore in Mundra, Gujarat. Where the local people protested during the environmental public hearing.
This loan will also be underwritten like Navi Mumbai airport. Also a part of it will be sold to other banks like Navi Mumbai Airport. In the case of Navi Mumbai airport, most of the loans have been taken from SBI by other banks.
In early March 2022, Navi Mumbai International Airport, a subsidiary of Adani Enterprises, was received from banks for Rs. 12,770 crores were taken. Recently the company has invested Rs. 6,071 crore was received.
In the year 2021-22, the debt of Adani Group grew by 40.5% to Rs 2.21 lakh crore. Adani Enterprises’ debt grew the highest at 155% in 2021-22. During this period, the company’s debt has increased to Rs 41,024 crore.
