Indian tycoon Adani says Adani Group is financially strong- India Today
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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.
The tycoon recently took a major shareholding control in New Delhi Television Ltd through his media entity AMG Media Network, raising fears that the media company might lose its editorial independence.
Adani said, "NDTV will be a credible, independent, global network" with clear boundaries between management and editorial.
He said the next union budget would address concerns about a possible recession in the country in 2023, adding that focus on capital expenditure, employment, spending on social infrastructure and social security will help in facing global headwinds of recession.
