Adani group firms' gross debt rises to Rs 2.2 trillion, shows data

This makes the Adani group one of the most indebted among India's top business groups

The Adani group continues to use debt financing to grow its existing businesses and enter new industries. The combined gross debt of the group companies reached a new high of Rs 2.22 trillion at the end of March this year, up 42 per cent from Rs 1.57 trillion a year ago, according to data from Capitaline. As a result, the group’s gross debt-to-equity ratio was at a four-year high of 2.36 at the end of March, up from 2.02 a year ago and a low of 1.98 at the end of FY19.

Adjusted for cash and bank balance available with