Tata Steel embarks on promising debt reduction journey
Even after spending Rs 6,979 crore as capital expenditure Tata Steel generated a free cash flow of Rs 23,748 crore in the last financial year. It made a net borrowings repayment of Rs 30,560 crore
Nevin John | May 10, 2021 | Updated 23:22 IST
One more good year of high demand and lucrative margin will change the fortune of Tata Steel, which has reduced nearly Rs 30,000 crore debt in 2020-21. The steelmaker, which has been struggling with its $12 billion legacy acquisition of Corus Plc in 2007, has brought down its net debt to Rs 75,389 crore from Rs 1,04,779 crore in one year.