‘Trupti’ free with Nandini milk on Thursday
Udupi, July 11: Due to the increase in Milk production in Dakshina Kannada Co-operative Milk Producers Union, the Union has decided to extend the benefit to the Nandini consumers by giving them a free 180ML packet of Nandini Trupti milk with the purchase of every Nandini Milk packet (500ML, 1L, 6L) in Udupi and Dakshina Kannada districts on July 12.
Informing this to media persons at KMF Dairy in Manipal, Union President Raviraj Hegde said that the Union has come up with this consumer-friendly scheme for the better use of the surplus produced milk. It has been decided to give the Trupti milk worth around Rs. 62 lakh to the Nandini consumers free of cost,” Hegde added.
Throwing more light on preparation, he said “those who deliver milk at doorsteps have also been asked to distribute Trupti milk free of cost on July 12. All dealers have been informed of free milk delivery and the Trupti milk packets have also been prepared. The teams have been formed to make sure the milk is properly delivered to consumers. The Union is intended to benefit all customers without any compromise.”
“This is the first such implementation among the 14 units of the Union in the state. After observing its pros and cons, other schemes will be planned about the surplus produced milk.”
“The new dairy, which is coming up at the cost of Rs. 85 crore with the capacity of 2.5 lakh liters at Uppoor near Udupi, will be fully integrated with the automated system,” the president added.
Director Kapu Divakar Shetty, Surya Shetty, Haddur Rajeev Shetty, Federation Manager Dr. BV Satyanarayan, Jayadevappa K and Manipal unit deputy manager Lakkappa were present.
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Adani touts financial strength, shows can grow without external debt
New Delhi (PTI): Billionaire Gautam Adani's conglomerate on Monday touted its financial and credit details of its portfolio companies to investors, showcasing its robust profits and cash flows that can sustain growth without reliance on external debt.
The ports-to-energy conglomerate, which has been hit by an indictment in a US court against its founder chairman Gautam Adani and two other executives for allegedly bribing Indian official to secure solar power contracts, in a presentation to the investors highlighted its consistently expanding profits and cash flows, which over a period have led to lowering dependence on debt for its growth ambitions.
Equity now accounts for almost two third of its total asset creation, a stark contrast to five years ago. In the last six months, the group has invested close to Rs 75,227 crore, against a total debt increase of only Rs 16,882 crore.
A note was also shared with the investors, along with presentations.
Outlining the group's liquidity position, the note said, "Adani Portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani Portfolio companies had a cash of Rs 53,024 crore, which was close to 21 per cent of its total gross debt outstanding".
This amount, it said, was sufficient to cover the next 28 months of debt servicing requirement.
GROWTH WITHOUT DEBT
In the past, the group has announced plans to invest over Rs 8 lakh crore (USD 100 billion) across portfolio companies in the next ten years.
The Fund Flows from Operations (FFO) or cash profits stood at Rs 58,908 crore for the last twelve months and is growing over 30 per cent for the past five years. On the basis of this, even after assuming no growth, the group will be able to invest Rs 5.9 lakh crore only from its internal cash accruals over the next ten years, leaving very little dependency on external debt.
Further, at the portfolio level, there is very low debt gearing of 2.46x -- which means it has massive headroom for debt, according to the presentation.
Other highlights from the presentation included EBITDA (earnings before interest tax and depreciation) for the last twelve months, which it said is highly stable and hence predictable due to its infrastructure projects, which grew by 17 per cent to Rs 83,440 crore.
Also, existing annual cash flows alone can pay the entire debt in 3 years.
Gross assets/investments increased by Rs 75,227 crore, against total debt increase of only Rs 16,882 crore. Asset base has now increased to Rs 5.5 lakh crore.
Average cost of borrowing at 8.2 per cent, lowest in the last 5 years, due to upgrade in ratings across group companies, it said.
Adani Group's long-term debt from domestic banks was Rs 94,400 crore. This stood against a cash balance of Rs 53,024 crore, most of which was parked with Indian banks.
Borrowings from global banks were 27 per cent of total debt.
