Jindal Steel & Power Ltd. will continue paring net debt, and reward shareholders in the ongoing fiscal.
Jindal Steel Eyes Less Than Rs 10,000-Crore Net Debt
The steelmaker expects to bring down its net debt below Rs 10,000 crore by the first quarter of FY23, Managing Director VR Sharma told BloombergQuint in an interview. JSPL has already cut net debt by half over FY20.
The company is also looking to divest its Australian coking coal unit by September-October of the ongoing financial year as it continues to focus on the domestic market.
Besides, the board of JSPL—which until now has been focusing on deleveraging—will meet within a month to decide on a dividend policy for the ongoing fiscal, Sharma said.