New Delhi : Jindal Steel and Power Ltd (JSPL) which has a consolidated debt of around Rs 46,000 crore, said it is more likely to be ‘relatively’ debt-free company within five years.
“We are increasing our production, there is good demand for steel and the government has also taken a lot of initiatives to build infrastructure in the company,” JSPL, chairman, Naveen Jindal told reporters on the sidelines of India’s National Competitiveness Forum, reports PTI.
“In the next four to five years, we hope to be relatively debt-free company. That the debt should not be more than three times, I believe of the EBITA of the company,” he said. The things are much better now for JSPL, Jindal said.
“Our debt is only come down now. Whatever was our debt in FY’16 we have reduced it in FY’17,” he said.