The Adani Group said its companies have reduced their debt burden, as they sought to rebut a report saying its finances had become stretched.

Using figures that differed from those cited by CreditSights in the report last month, the leverage ratios of its companies “continue to be healthy and are in line with industry benchmarks,”  Adani group said.

“The companies have consistently de-levered,” with the net debt to Ebitda ratio declining to 3.2 times from 7.6 times in the last nine years, the conglomerate said.

Adani, 60, has spent the past few years expanding his coal-to-ports conglomerate, venturing into everything from data centers to cement, media and alumina. 

The group now owns India’s largest private-sector port and airport operator, city-gas distributor and coal miner.  

Adani also pledged to invest $70 billion in green energy to become the world’s largest renewable-energy producer.