Adani Group aims to boost earnings by 50%, cut debt in next 2 fiscals
The Adani group aims to increase group-level operating earnings by nearly 50 per cent to around Rs 91,000 crore over the next two fiscal years, the Mint reported.
This boost in earnings will help the group lower its leverage ratios and mitigate investors’ and creditors’ concerns. At present, the Adani group owes around $23 billion to its investors and creditors.
The latest initiative by the group targets to accelerate earnings growth. This move is being pegged as significant amid the aftermath of the short-seller report by Hindenburg Research.
