Sahebaan Welfare Trust organizes 'Community Welfare Talks Series 2024' session in Mangaluru
Mangaluru: The ladies' wing of Sahebaan Welfare Trust (SWT) hosted the inaugural session of the 'Community Welfare Talks Series 2024' at Senate Hall, Inland Ornate Complex, in the city on January 21, with Siraj Ahmed, Managing Director, Inland Infrastructure Pvt Ltd, inaugurating the event.
Ahmed, in his inaugural address, lauded the efforts of SWT at initiating the talk series for the benefit of the community members as well as the society at large.
Meraj Yousef, Executive Director, Inland Buiders, who spoke on the occasion, pledged his support towards community welfare activities of SWT.
Educationist and Motivational Speaker Obeida Shoukath, who was one of the speakers of the day, spoke on the challenges faced by students on campus and the remedial measures while the second speaker Dr. Mohammed Noorulla, Senior Unani Consultant at the District Wenlock Hospital, Mangaluru, explained on the occasion the history and benefits of AYUSH, the Indian Alternative Medicine system, and the services available at the Ayush Hospital in the city.
Syed Siraj Ahmed, Secretary of SWT, welcomed the gathering on behalf of the President, Afroze Assadi Saheb. The program was ably compered by Zaiba Khatib.
The Qirat was read by Fariha Fathima and Ayesha Shahnaz.
The event was conducted by the Ladies' Youth Wing of the SWT under the leadership of Amreen Khatib, who was ably assisted by Aliya Imtiaz and Rifaa Sheikh, with the support extended by Ayaan Sheikh and Luqman Tonse. Umme Kulsum proposed the Vote of Thanks.
Senior Sahebaan Community members and SWT trustees Althaf Khatib, Rafik Assadi and Imtiaz Khatib were present on the occasion.
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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.
