NEW DELHI<\/strong><\/p>\nFitch Group unit CreditSights said that it had discovered calculation errors in its recent debt report on two power and transmission companies controlled by India\u2019s richest person, Gautam Adani, following a conversation with the management.<\/p>\n
CreditSights\u2019 report late last month \u2014 calling the conglomerate \u201cdeeply overleveraged\u201d and flagging other risks \u2014 had sent shares of many Adani Group companies down.<\/p>\n
In a report dated September 7, the debt research firm said that it had spoken with Adani Group\u2019s financial (and other) executives, and reconciled some figures for Adani Transmission and Adani Power.<\/p>\n
\u201cManagement views that the group\u2019s leverage is at manageable levels, and that its expansion plans have not been mainly debt funded,\u201d CreditSights said about the conglomerate, that has announced deals worth billions of dollars this year alone.<\/p>\n
For Adani Transmission, CreditSights corrected its earnings before interest, tax and amortisation (EBITDA) \u2014 or core profit \u2014 estimate to Rs52 billion ($652.45 million) from Rs42 billion earlier. For Adani Power, it corrected its gross debt estimate to Rs489 billion from Rs582 billion.<\/p>\n
It did not give the period for the estimates.<\/p>\n
\u201cThese corrections did not change our investment recommendations,\u201d CreditSights said, adding that it, however, did not have formal recommendations on the two power and transmission companies.<\/p>\n
The combined market value of the Adani Group\u2019s seven publicly traded companies \u2014 flagship Adani Enterprises , Adani Wilmar, Adani Ports, Adani Green Energy, Adani Transmission, Adani Total Gas and Adani Power \u2014 has increased tenfold in the past three years, to about $251 billion.<\/p>\n<\/p><\/div>\n
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"NEW DELHI Fitch Group unit CreditSights said that it had discovered calculation errors in its recent…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-3051","post","type-post","status-publish","format-standard","hentry","category-asia"],"yoast_head":"\n
CreditSights finds errors in debt report on India's Adani group firms - Gulf Times | News by the minute<\/title>\n<meta name=\"description\" content=\"Gulf Times: Latest news across the GCC from UAE, Bahrain, Qatar, Oman, Yemen, Saudi Arabia\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CreditSights finds errors in debt report on India's Adani group firms\" \/>\n<meta property=\"og:description\" content=\"Gulf News| UAE's Largest News aggregator site\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/\" \/>\n<meta property=\"og:site_name\" content=\"Gulf Times | News by the minute\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/100084981843786\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-08T07:03:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gulftimes.ae\/wp-content\/uploads\/2024\/08\/gulftimesuae-logo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"452\" \/>\n\t<meta property=\"og:image:height\" content=\"111\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"gulftimes\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Gulftimesuae\" \/>\n<meta name=\"twitter:site\" content=\"@Gulftimesuae\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"gulftimes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"CreditSights finds errors in debt report on India's Adani group firms - Gulf Times | News by the minute","description":"Gulf Times: Latest news across the GCC from UAE, Bahrain, Qatar, Oman, Yemen, Saudi Arabia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/","og_locale":"en_US","og_type":"article","og_title":"CreditSights finds errors in debt report on India's Adani group firms","og_description":"Gulf News| UAE's Largest News aggregator site","og_url":"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/","og_site_name":"Gulf Times | News by the minute","article_publisher":"https:\/\/www.facebook.com\/100084981843786","article_published_time":"2022-09-08T07:03:28+00:00","og_image":[{"width":452,"height":111,"url":"https:\/\/gulftimes.ae\/wp-content\/uploads\/2024\/08\/gulftimesuae-logo.png","type":"image\/png"}],"author":"gulftimes","twitter_card":"summary_large_image","twitter_creator":"@Gulftimesuae","twitter_site":"@Gulftimesuae","twitter_misc":{"Written by":"gulftimes","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/#article","isPartOf":{"@id":"https:\/\/gulftimes.ae\/?p=3051"},"author":{"name":"gulftimes","@id":"https:\/\/gulftimes.ae\/#\/schema\/person\/4c5b0f90aae48bb43165ee6e39ddc977"},"headline":"CreditSights finds errors in debt report on India’s Adani group firms","datePublished":"2022-09-08T07:03:28+00:00","mainEntityOfPage":{"@id":"https:\/\/gulftimes.ae\/?p=3051"},"wordCount":263,"commentCount":0,"publisher":{"@id":"https:\/\/gulftimes.ae\/#organization"},"articleSection":["Asia"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/gulftimes.ae\/?p=3051","url":"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/","name":"CreditSights finds errors in debt report on India's Adani group firms - Gulf Times | News by the minute","isPartOf":{"@id":"https:\/\/gulftimes.ae\/#website"},"datePublished":"2022-09-08T07:03:28+00:00","description":"Gulf Times: Latest news across the GCC from UAE, Bahrain, Qatar, Oman, Yemen, Saudi Arabia","breadcrumb":{"@id":"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/theasialive.com\/india-creditsights-finds-errors-in-debt-report-on-indias-adani-group-firms\/2022\/08\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gulftimes.ae\/"},{"@type":"ListItem","position":2,"name":"CreditSights finds errors in debt report on India’s Adani group firms"}]},{"@type":"WebSite","@id":"https:\/\/gulftimes.ae\/#website","url":"https:\/\/gulftimes.ae\/","name":"Gulf Times | News by the minute","description":"Largest News Aggregator in the Gulf","publisher":{"@id":"https:\/\/gulftimes.ae\/#organization"},"alternateName":"Gulf News Aggregator","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gulftimes.ae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/gulftimes.ae\/#organization","name":"Gulf Times","url":"https:\/\/gulftimes.ae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/gulftimes.ae\/#\/schema\/logo\/image\/","url":"","contentUrl":"","caption":"Gulf Times"},"image":{"@id":"https:\/\/gulftimes.ae\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/100084981843786","https:\/\/x.com\/Gulftimesuae"]},{"@type":"Person","@id":"https:\/\/gulftimes.ae\/#\/schema\/person\/4c5b0f90aae48bb43165ee6e39ddc977","name":"gulftimes","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a8f9c2e07a9cd7e7e7c302c8c7ce8d5e0865a0bbcc732793d6e761588fd10b03?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a8f9c2e07a9cd7e7e7c302c8c7ce8d5e0865a0bbcc732793d6e761588fd10b03?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a8f9c2e07a9cd7e7e7c302c8c7ce8d5e0865a0bbcc732793d6e761588fd10b03?s=96&d=mm&r=g","caption":"gulftimes"},"sameAs":["https:\/\/gulftimes.ae"],"url":"https:\/\/gulftimes.ae\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/gulftimes.ae\/index.php?rest_route=\/wp\/v2\/posts\/3051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gulftimes.ae\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gulftimes.ae\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gulftimes.ae\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gulftimes.ae\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3051"}],"version-history":[{"count":0,"href":"https:\/\/gulftimes.ae\/index.php?rest_route=\/wp\/v2\/posts\/3051\/revisions"}],"wp:attachment":[{"href":"https:\/\/gulftimes.ae\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gulftimes.ae\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gulftimes.ae\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}