In an interview to India Today, Adani mentioned, “I am greatly surprised by the conversations around our debt (of Rs 2 lakh crore). We are financially very strong and secure. Such noises are coming from two categories. The first category is of the people who are not doing deep-diving to understand the detailed nuances of debt and finances of company. The second category of people are those with vested interests, deliberately creating confusion and misunderstanding to tarnish the reputation of the group. ,
The chairman of India’s second-largest conglomerate in terms of market value said this group’s profit has been growing at twice the rate of its debt in the last nine years, because of which its debt-tooperating profit ratio has come down to 3.2 from 7 6. This, he added, is “very healthy for large group where most of the companies are in the infrastructure space with assured and predictable cash flow, unlike in manufacturing”. Furthermore, Adani said, exposure of Indian banks to group’s debt has reduced to 32% from 86% in the last nine years. “Almost 50% of our borrowing is now through international bonds.”
Adani attributed his trade luck to institutional reforms initiated via a number of leaders and governments of over 3 a long time.
“Many will likely be shocked to understand that all of it started all over the tenure of Rajiv Gandhi as PM when he first liberalized the Exim (exportimport) coverage. That is what helped me to start out my export space. But for Rajiv Gandhi, my adventure as an entrepreneur would by no means have taken off. The 2nd giant push got here following the commercial reforms initiated in 1991 via then PM Narasimha Rao and FM Manmohan Singh.
Next got here in 1995 when the Gujarat CM KeshubhaiPatel eager about coastal construction, main Adani to construct the port in Mundra. The fourth “turning point”, Adani mentioned, was once in 2001 beneath the management of Narendra Modi, then Gujarat CM and now India’s PM. “His insurance policies and their implementation went on not to simplest trade financial panorama of the state but additionally introduced social transformation and construction of in the past underdeveloped spaces. It additionally allowed industries and employment to take off like by no means prior to. ,