ICICI Securities: Jindal Steel & Power Continues To Deleverage
A worker cycles past signage for Jindal Steel & Power Ltd.’s plant in Raigarh, Chhattisgargh, India (Photographer: Udit Kulshrestha/BloombergKeywords) 

ICICI Securities: Jindal Steel & Power Continues To Deleverage

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Securities JSPL Q2FY21 Results Update.pdf

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