Tata, Adani, Essar stare at hefty write-downs

With their Gujarat-based power plants incurring hefty losses, the Adani, Tata and Essar groups are staring at write-downs in the tune of thousands of crores of rupees. 

Lenders fear the next wave of non-performing assets will come from the power sector, as many projects became unviable after Indonesia changed its law that made coal imports expensive for these firms.

Tata Power’s Mundra project, under the special purpose vehicle Coastal Gujarat Power, constitutes almost Rs 18,000 crore of its capital employed, with negative returns till date. 
 

Adani Power’s net worth is Rs 3,000 crore and has Rs 49,230 crore of debt.