43 degrees was Delhi's respite, heatwave to return from Friday
New Delhi, May 24: After two days of a persistent heat wave, the National Capital and surrounding regions on Thursday saw "very slight" respite, as average maximum temperature stood at 43 degrees Celsius, three notches above the season's average.
The heat wave will return from Friday onwards and will continue till at least Monday, affecting Delhi along with north, central and east India, Met scientists told IANS.
The next respite is only likely towards the end of May or first week of June, weather analysts said.
Friday's average maximum temperature is likely to hover around 44 to 45 degrees, while Palam is expected to be hotter.
On Thursday, Palam at 44.1 degrees, four notches above the season's average, was the warmest place in Delhi, causing heat waves with inductive effect on the rest of the region.
Gurugram and Faridabad sizzled at 43 degrees. Thursday's minimum temperature was recorded at 26.5 degrees, the season's average.
A dust storm and thunderstorm, which was supposed to sooth the evening in Delhi, was also averted as the cyclonic circulation over the central Uttar Pradesh was confined to northern Madhya Pradesh and could not make it to the National Capital Region.
"There were some easterly winds in Delhi, which are moist due to which the heat waves were averted, but mercury will gradually rise from Friday onwards and last till the month-end or at least till May 28," Kuldeep Srivastava, scientist at India Meteorological Department (IMD), told IANS.
According to IMD, the heat waves are caused when either the temperature is or above 45 degrees, or if mercury crosses 40 degrees but is five degrees higher than the season's average.
"A cyclonic circulation along with western disturbance might have effects over Jammu and Kashmir towards May 29, so temperatures may fall in Delhi but warming will still be there," Srivastava added.
However, according to private weather forecasting agency Skymet, respite is only likely at the end of May.
"There had been variation in the winds... light rains which would bring the much-needed respite are only likely around May 31 and not before that as was being expected earlier," Mahesh Palawat, Skymet Director, told IANS.
The humidity on Thursday oscillated between 27 to 38 per cent
Even as heat waves were averted by few notches of mercury in Delhi and surrounding areas, the orange warning -- "severe heat alert for the day" -- continues for Delhi till May 28, including Rajasthan, Haryana, Punjab, western and eastern Madhya Pradesh, northern Gujarat and Kutch, western Uttar Pradesh, Uttarakhand, Himachal Pradesh sand Vidarbha in Maharashtra.
Wednesday's maximum temperature was recorded at 43 degrees, three notches above the season's average while the minimum temperature was 26.7 degrees, the season's average.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
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.
