SAIL’s Goal Is To Reduce Net Debt To 15,000-20,000 Crore Rupees In The Current Financial Year.

SAIL reduces its debt in the current fiscal year: the net debt of the steel manufacturer from the end of April to Juen Quarter of the 2021-22 fiscal year is approximately 30,000 crore rupees.

If product prices and demand remain stable, the country’s leading state-owned steel producer, the Iron and Steel Authority of India (SAIL), aims to reduce its net debt to 15,000-20,000 crore in this fiscal year. A senior official told the news organization. The steel manufacturer’s net debt from April to the end of the June quarter of the 2021-22 fiscal year was approximately Rs 30 billion, compared with a net debt of Rs 35.35 billion at the end of the previous fiscal year.

The company’s Bhilai steel plant reported revenue of Rs 5,548 crore in the first quarter of the fiscal year, which is the largest contributor to approximately 24% of SAIL’s total revenue.

On Thursday, August 26, SAIL’s shares fell 3.35% on the BSE to 115,300 rupees per share. In today’s trading session, SAIL opened at BSE at 119.70 rupees, slowly rising to an intraday high of 119.70 rupees and an intraday low of 114.05 rupees.