ICICI Securities: Jindal Steel & Power Continues To Deleverage
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ICICI Securities Report
Jindal Steel and Power Ltd. stands out in the Indian metals space by virtue of its clear intent to deleverage and execution towards that end.
Reported net debt for Q2 FY21 stood at Rs 289 billion, with Rs 53.6 billion debt reduction via Oman divestment.
The company stays on course to reduce its net debt to Rs 150 billion by FY23.
Jindal Power has been seeing a gradual increase in power purchase agreements with 38% of the capacity tied up.
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