Thursday, November 07, 2024

World Business News

Adani Group’s Debt Up 40% to Rs 2.21 Lakh Crore In FY22; Adani Enterprises Sees Highest Rise

Adani Group's Debt Up 40% to Rs 2.21 Lakh Crore In FY22; Adani Enterprises Sees Highest Rise

Adani Group joint loan jumped 40.5 percent to around Rs 2.21 Lakh Crore in the 2021-22 financial year. It was established in Rs 1.57 Lakh Crore in the previous financial year. Among group companies, the highest increase in debt was recorded in its flagship entity Adani Enterprises, who witnessed the 155 percent leap of the year-year to 41,024 Crore Hospital in 2021-22, according to data from the morning context.

Among the group entities, Adani Power and Adani Wilmar saw the decline in their loans. Adani Power’s loan during the 2021-22 financial year was established in Rs 48,796 Crore, a decline of 6.9 percent compared to RS 52,411 Crore a year ago. Adani Wilmar witnessed a 12.9 percent decline in his loan to 2,568 Crore Hospital in 2021-22, against 2,950 Crore Hospital in the previous financial year, according to data.

Adani Green Energy’s loan during the financial year increased 118.6 percent to RS 52,188 Crore, compared to RS 23,874 Crore in 2020-21. Adani and Sez port debt rose 32.1 percent to RS 45,453 Crore, from RS 34,401 Crore a year ago. Adani’s transmission saw an increase of 10.6 percent to 29,815 crore Rs compared to Rs 26,961 Crore in the previous year, while Adani’s total gas loan jumped 103.9 percent to RS 995 Crore in 2021-22 from RS 488 Crore a year ago, the data showed .

The debt to the group’s gross equity ratio at the highest four years 2.36 at the end of March, an increase of more than 2.02 years ago and the lowest 1.98 at the end of FY19.

Recently, during the call analyst after the results of the March 2022 quarter, Chief Financial Officer Adani Enterprises Robbie Singh said, “When our established business continues to maintain long-term growth, we make significant progress in an interesting incubation pipe consisting of a new industry Adani, airports, roads, business center businesses which will further accelerate the creation of value for our shareholders. While the growth story continues, validating our efficient capital management program, AEL credit rating has been upgraded to A+ for long -term credit channels and to the highest A1+ ranking for short -term credit facilities with maintenance ratings. “

The debt to the group’s gross equity ratio at the highest four years 2.36 at the end of March, an increase of more than 2.02 years ago and the lowest 1.98 at the end of FY19.

Recently, during the call analyst after the results of the March 2022 quarter, Chief Financial Officer Adani Enterprises Robbie Singh said, “When our established business continues to maintain long-term growth, we make significant progress in an interesting incubation pipe consisting of a new industry Adani, airports, roads, business center businesses which will further accelerate the creation of value for our shareholders. While the growth story continues, validating our efficient capital management program, AEL credit rating has been upgraded to A+ for long -term credit channels and to the highest A1+ ranking for short -term credit facilities with maintenance ratings. “

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