Mumbai: Adani Group flagship company Adani Enterprises Ltd’s (AEL) ability to service its debt obligations has improved significantly as of March 31, 2023, compared to last year as borrowings have come down while earnings have gone up.
The company’s interest service coverage ratio, a measure of its operating profit versus its interest costs, has improved to 3.09 at the end of FY23 compared with 2.41 a year ago, as per the company’s own calculations.
Adani Group’s flagship company, Adani Enterprises Ltd, has improved its ability to service debt as of March 31, 2023, after its gross debt fell 7% to INR 38,320 crore, while earnings increased. The company’s interest service coverage ratio rose to 3.09 compared with 2.41 a year earlier. EBITDA more than doubled to INR 10,025 crore, and the company’s cash position rose 37% to INR 5,374 crore YoY.
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