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Poor execution, weak results weigh on listed entities of IL&FS group

The group's borrowing is over Rs 900 billion, with reported losses during 2017-18 more than Rs 20 billion

IL&FS
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IL&FS

Ujjval JauhariShreepad S Aute New Delhi/ Mumbai
Listed entities of the IL&FS Group continue to see their share prices under pressure after its parent defaulted and their ratings were downgraded. The group’s borrowing is over Rs 900 billion, with reported losses during 2017-18 more than Rs 20 billion.

IL&FS runs its business through numerous subsidiaries. Analysts at Nomura say analysis of the larger subsidiaries indicate its financial position remains stressed, leading to the rating downgrades. It is a complicated structure, with the holding company at the top, owning stakes in its financial services arm and in multiple subsidiary companies that operate its infrastructure assets.

Among the listed

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