Mangaluru: New building of 'Mangalore Group of Institutions' Nursing College inaugurated
Mangaluru: The inauguration of the new college building for the Nursing College at Deralkatte, part of the 'Mangalore Group of Institutions' under the Ullal Charitable Trust, took place on Friday.
The inauguration ceremony was jointly led by the State Health and Family Welfare Minister and DK District In-charge Minister, Dinesh Gundu Rao, and Constituency MLA and State Legislative Assembly Speaker UT Khader.
Addressing the gathering after the inauguration, UT Khader expressed satisfaction with the growth of the education and health sectors in the Deralkatte area. He referred to the new building of the Nursing College as a crown jewel by 'Mangalore Group of Institutions' run by the Ullal Charitable Trust to thegrowing reputation of Deralakatte. Khader urged the institute to introduce new courses that would invigorate and inspire students, emphasizing the importance of serving the community locally after obtaining medical education.
Dinesh Gundu Rao, the DK District In-charge Minister, stressed the need to introduce new courses to harness the youth resources in the country effectively. He suggested recognizing students' skills from the outset and creating an environment conducive to their development. Gundu Rao highlighted the high demand for nursing graduates, both nationally and internationally, and encouraged nursing students to capitalize on these opportunities.
Dr. Sayyid Mohammed Khilar, Chairman and Managing Trustee of 'Mangalore Group of Institutions,' noted the organization's significant milestone in healthcare. He emphasized the priority given to starting new courses in health and education to benefit the next generation and leverage evolving opportunities in the field.
The event saw the participation of prominent figures such as Dr. Habeeb Rahman, Chairman and Medical Director of Unity Care and Health Service Pvt. Ltd., and UK Monu, Chairman of Kanachur Medical College. Trustees and directors of the institution, including Dr. C.P. Abdulla Yasser, Dr. N.A. Mohammad, Dr. Mohammed Sameer, Mohammed Yoonus, and Titto Mathew, were also present.
Dr. Ahmed Rizwan C.M., a Trustee, and Administration Director recited the Qiraat. Dr. Alam Nawaz, Vice Chairman and Trustee of 'Mangalore Group of Institutions,' extended a warm welcome to the attendees.
Speaker Khader highlighted ongoing developmental projects in Ullal taluk, including road development and 24-hour drinking water supply. He assured that measures would be taken to address the electricity problem with a forward-looking vision for the next 30 years.
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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.
