The Adani Group has stated that it has enough cash to meet its debt obligations, seeking to reassure creditors after allegations of a $250 million bribery scheme involving founder Gautam Adani surfaced in the US. The accusations triggered a sharp drop in the group’s stock and bond values.

The Adani Group shared that it has enough cash to cover its debt payments for the next 28 months. In the first six months of the financial year ending March 2025, the group’s total cash was $6.33 billion. Additionally, the group improved its financial position slightly, as its ratio of total assets to net debt increased from 2.63 last year to 2.7 this year. This means the company has more assets compared to its debts than it did before.

Allegations and market impact

US federal prosecutors accused Gautam Adani, Asia's second-richest man, and others of running a bribery scheme to win solar energy contracts. These accusations caused big problems for the Adani Group. The company's total market value fell by almost $27 billion, its dollar bonds lost value, and one of its companies had to cancel plans to issue $600 million in bonds.

The Adani Group has said that the accusations are not true and have no foundation. They have promised to take all legal steps to challenge the claims. A top official said the company will respond properly after reviewing the legal documents with their lawyers.

The Adani Group pointed out that most of its money comes from its main businesses, like ports and power. They explained that 62% of their total income and 84% of their profits before certain costs (like taxes and depreciation) come from these businesses.

Previous challenges

This situation comes as the Adani Group tries to bounce back from previous problems. In January 2023, a report by Hindenburg Research claimed that the group had manipulated its stock prices and committed accounting fraud. This caused the group to lose over $150 billion in value. The Adani Group has also denied these claims.