May 12, 2021
The Jindal Steel & Power Ltd plant in Raigarh, Chhattisgargh - Bloomberg×
Buoyed by upcycle in global steel prices
After six years in the red, Jindal Steel and Power Ltd (JSPL) on Wednesday said it has closed the financial year 2020-21 with a net profit of ₹5,527 crore. The strong rebound in bottomline has been aided by the ongoing upcycle in global steel prices, which is reflected in the uptrend in domestic prices as well.
In the previous financial year, JSPL had reported ₹ 574 crore net loss.
The firm’s annual production of steel including pig iron rose 19 per cent year-on-year to 7.51 million tonnes, while the production of pellets rose by 6.6 per cent to 7.28 million tonnes, JSPL said in a statement.
JSPL prepays Rs 2,462 crore debt; hopes to become debt free soon
This particular payment to its term lenders is over and above the annual committed debt reduction that it achieved in fiscal 2021. In the coming quarters, the company intend to further strengthen its balance sheet and become net debt-free
Sumant Banerji | May 10, 2021 | Updated 15:50 IST
Recently, the company had announced divestment of its thermal power business, both to reduce its debt and cut down its carbon footprint by almost half
Naveen Jindal s Jindal Steel and Power Ltd has made a debt payment of Rs 2,462 crore ahead of its due date as it seeks to become a net debt free company soon. The company said it was part of its long-stated financial strategy of debt reduction and to build a robust balance sheet with the optimal capital mix.
JSPL makes prepayment of ₹2462 crore to lenders
May 10, 2021
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Move would help to reduce its debt further as well as cut down on its carbon footprint by almost half Jindal Steel and Power Ltd(JSPL) on Monday announced that it has made a prepayment of ₹2,462 crore to its term lenders.
“The significant debt reduction is part of our long-term financial strategy to create a strong balance sheet. In the coming quarters, we intend to further strengthen our balance sheet and become net debt-free shortly,” JSPL MD V R Sharma said in a statement.
The new debt reduction of ₹2,462 crore is over and above the annual committed debt reduction in the financial year 2020-21, the statement said.
View from India: Nation pulls together in face of Covid oxygen crisis theiet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theiet.org Daily Mail and Mail on Sunday newspapers.
Sajjan Jindal Led JSW Steel To Increase Supply Of Liquid Medical Oxygen From Its Plants To 1,000 Tonnes Per Day From Today
Sajjan Jindal, CMD of JSW Steel, addresses a press conference in Mumbai. (Mint)
India s biggest steelmaker, JSW Steel will ramp up the supply of liquid medical oxygen (LMO) from ist plants in the country to 1,000 tonnes per day from today (30 April) onwards, reports
Economic Times.
The total supplies of LMO from the Sajjan Jindal led steelmaker s plants for the entire month of April is expected to be over 20,000 tonnes. The company is supplying LMO from its plants in Karnataka, Maharashtra and Tamil Nadu.