Hello,
Yes, this explains the situation.
As per my understanding these are not borrowings, but Lease liabilities which they need to pay over a period.
Some analysts are not mentioning this clearly in their reports, and mentioning that D/E ratio is quite risky and all that. I am surprised that they should mention it clearly as Lease liabilities which are being reported as Debt. This can be applicable in case of Hospitals, QSR, and few companies only.
Anyway, now the situation is clear to me.
Disc : Not Invested.
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