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Adani Groups holding company debt doubled

Adani Groups holding company debt doubled

American financial firm Jefferies has released a report regarding the rapidly expanding business of the Adani Group in the country. The report said that the debt of Adani Enterprises, the flagship company of Adani Group, has doubled in FY22. The debt of Adani Enterprises has increased to 41,023 crores in FY22 from Rs 16,051 crores in FY21. However, during this period, there is a tremendous jump of 75 percent in the company's income and it has increased by Rs 39,537 crore to Rs 69,420. At the same time, the company's PAT (Profit After Tax) has come down from Rs 1304 crore to Rs 787 crore during this period. The report states that Adani Enterprises works to expand the group's business and mature the new business. Adani Enterprises holds between 44 per cent and 100 per cent stake in subsidiaries and joint ventures initiated by the group with other companies. 44 per cent in Adani Wilmar, 50 per cent in Adani Konex, 100 per cent in Adani New Industries, 100 per cent in Adani Road Transport, 100 per cent in Adani Digital Labs and 100 per cent in Adani Airports Holdings and 100 per cent in Copper and other businesses of Adani Defense Huh.

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