Emami plans to pare Rs 2600 crore debt in 9 maths

Kolkata: The Rs 16,000 crore diversified conglomerate Emami will pare its entire debt at the group level, which currently stands at Rs 2600 crore, over the next 9 months, a top company official said.

The group is "fully covered to meet all repayment obligations in the group companies", Emami director Prasant Goenka said. Emami Group is engaged in the business of personal and health care products, paper, hospitals, edible oils, bio-diesel, cement, real estate, retail chains, power and art.

There had been a recent downgrade in the ratings in one of the unlisted group companies. "We are fully covered to meet all repayment obligations in the group companies. In the last 4 months, we had repaid Rs 2,800 crore. The group promoters' debt is now at Rs 2600 crore.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in