 "Bonds, Stock markets, Shares, Trading")
As losses mount at its various subsidiaries, Infrastructure Leasing & Financial Services (IL&FS) now has the most leveraged balance sheet, on a consolidated basis, in the large non-banking finance company (NBFC) space.
The company had borrowings of Rs 910 billion at the end of FY18, including current maturities of long-term borrowings worth Rs 122 billion. With net worth of Rs 54.3 billion, its debt-equity ratio translated to 16.8x as of March 2018, against 10.6x a year ago.
This is more than thrice the industry average in FY18. Top listed and unlisted non-bank lenders, excluding IL&FS, reported an average leverage ratio
