Azure Power Global (Azure Power Global) Debt-to-Equity : 3.41 (As of Mar. 2022)

View and export this data going back to 2016. Start your Free Trial

What is Azure Power Global Debt-to-Equity?

Azure Power Global's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2022 was $217.2 Mil. Azure Power Global's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2022 was $1,523.5 Mil. Azure Power Global's Total Stockholders Equity for the quarter that ended in Mar. 2022 was $510.8 Mil. Azure Power Global's debt to equity for the quarter that ended in Mar. 2022 was 3.41.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Azure Power Global's Debt-to-Equity or its related term are showing as below:

AZREF's Debt-to-Equity is not ranked ^*
in the Utilities - Independent Power Producers industry.
Industry Median: 0.83
* Ranked among companies with meaningful Debt-to-Equity only.

Azure Power Global Debt-to-Equity Historical Data

The historical data trend for Azure Power Global's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Azure Power Global Debt-to-Equity Chart

Azure Power Global Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Debt-to-Equity

Get a 7-Day Free Trial

2.86

3.47

4.42

3.41

3.87

Azure Power Global Quarterly Data
	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Mar23
Debt-to-Equity	Get a 7-Day Free Trial															4.77	4.93	5.24	3.41	3.87

Competitive Comparison of Azure Power Global's Debt-to-Equity

For the Utilities - Renewable subindustry, Azure Power Global's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Azure Power Global's Debt-to-Equity Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Azure Power Global's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Azure Power Global's Debt-to-Equity falls into.

Azure Power Global Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Azure Power Global's Debt to Equity Ratio for the fiscal year that ended in Mar. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(213.282	+	1429.488)	/	424.353
	=	3.87

Azure Power Global's Debt to Equity Ratio for the quarter that ended in Mar. 2022 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(217.156	+	1523.515)	/	510.752
	=	3.41

Azure Power Global (OTCPK:AZREF) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Azure Power Global Debt-to-Equity Related Terms

Thank you for viewing the detailed overview of Azure Power Global's Debt-to-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.

Azure Power Global (Azure Power Global) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Azure Power Global Ltd (OTCPK:AZREF) » Definitions » Debt-to-Equity

Comparable Companies

Traded in Other Exchanges

N/A

Address

Saket Place, 5th Floor, Southern Park, D-II, Saket, New Delhi, IND, 110017

Website

https://www.azurepower.com

Azure Power Global Ltd produces and sells solar power in India. It is engaged in the development, construction, ownership, operation, maintenance, and management of solar power plants and the generation of solar energy. The company generates revenue from a mix of Indian central and state government utilities and commercial entities. The Company has a single operating and reporting segment: Sale of power.