Debt ratio at Adani's green firm needs 'watching' as it soars to 95.3%

Gautam Adani owned company's debt-to-capital ratio has soared to 95.3%, a level that is on the "higher side" for a private company

A key financial metric of Adani Green Energy Ltd. is flashing signs of concern as its billionaire owner takes on more debt to become a renewable energy giant.

The Gautam Adani owned company’s debt-to-capital ratio has soared to 95.3 per cent, a level that is on the “higher side” for a private company, according to Sharon Chen, an analyst at Bloomberg Intelligence. The company’s capital expenditure plans and its funding are other factors that need a close watch, Chen added.

“We would be more comfortable looking at a 70 per cent level or up to 80 per cent for a company in a