InvestorQ : Is Jindal Steel & Power moving towards becoming a zero debt company?
Khushi Patel made post

Is Jindal Steel & Power moving towards becoming a zero debt company?

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Dhwani Mehta answered.
2 months ago
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Let me clarify that Jindal Steel & Power intends to become a net zero-debt company, which is different from a zero debt company. A company with net zero debt is one that has enough cash in its balance sheet to repay its debt. Towards this end, JSPL has recently made a prepayment of Rs.2,462 crore to term lenders as part of its debt reduction process.

JSPL has already reduced its debt from a peak of Rs.46,500 crore in FY17 to Rs.25,600 crore today. This Rs.2,462 crore debt prepayment is in addition to the annual debt reduction commitments made by JSPL. The company is yet to provide a clear timeline to become net debt-free. JSPL recently monetized its thermal power business and there could be more.

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