Singh said, “Our books are in very good shape. We have industry-leading growth potential, strong corporate operations, secure assets and strong cash flow. We will review our capital markets strategy once the current market stabilises, but remain confident of our ability to deliver a business that delivers strong returns to shareholders.”
The Gautam Adani-led group has been under constant pressure ever since the Hindenburg Research report came out on 24 January. Although the group has dismissed the allegations leveled against it as false, but investor confidence has been affected by it. The total market valuation of the group companies has fallen by $125 billion in the last three weeks.
In this context, Singh said, “We are focused on continuing our business momentum in this volatile market environment. We are confident about our internal controls, regulatory compliance and company operations. ”””’ Adani Group had a total debt of Rs 2.26 lakh crore at the end of September 2022 quarter while it had cash of Rs 31,646 crore.
The CFO said that Adani Enterprises, the group’s flagship company, has a history of 25 years of disciplined capital infusion to create value for shareholders and during this period group companies have emerged as leaders in several sectors.
Source: navbharattimes.indiatimes.com
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