Indian billionaire Gautam Adani said his conglomerate Adani Group is 'financially very strong and secure,' while addressing concerns about the company's debt, in an interview to news channel India Today on Wednesday.
Indian billionaire Gautam Adani addresses delegates during the Bengal Global Business Summit in Kolkata, India April 20, 2022. REUTERS/Rupak De Chowdhuri/Dec 29 - Indian billionaire Gautam Adani said his conglomerate Adani Group is "financially very strong and secure," while addressing concerns about the company's debt, in an interview to news channel India Today on Wednesday.
Adani said that people raising "noises" about Adani Group's debt have not done a deep dive into its financials and also have a "vested interest" to tarnish the reputation of the group. The group's profit has been growing at twice the rate of its debt which has brought down its debt-to-EBITDA ratio to 3.2 from 7.6, he added in the interview.
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