Adani group companies in recent years have improved their combined financial ratios, led by a sharp rise in profits and a decline in the balance sheet leverage ratios.
The group companies' gross debt-equity ratio declined to 1.12 at the end of September this year from 2.12 at the end of FY22. This is the lowest in at least 15 years.
Their combined gross debt was up 17.1 per cent year-on-year (Y-o-Y) to around ₹2.8 trillion at the end of September this year. At the same time, their combined net worth was up 31.5 per cent Y-o-Y to around ₹2.5 trillion.
In the post-Covid period, the group companies' combined net worth has grown at a faster pace than their borrowing, leading to the balance sheet deleveraging.
The group companies' gross borrowing increased at a compound annual growth rate (CAGR) of 17.1 per cent between FY21 and FY24—from ₹1.6 trillion to ₹2.56 trillion.
This story is from the November 23, 2024 edition of Business Standard.
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This story is from the November 23, 2024 edition of Business Standard.
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