Don’t miss the latest developments in business and finance.

Gayatri Projects update on liquidity and debt position

Image
Capital Market
Last Updated : Mar 23 2018 | 12:16 PM IST

Pursuant to equity raised through QIP and debt repayments

Gayatri Projects has provided update on the company's liquidity and debt position -

Equity raised from the QIP earlier this month has been fully utilised to discharge the company's debt servicing obligations.

The company is now regular in all payments to the banking system.

Post equity raising through QIP and debt repayments, the company's pro-forma networth has gone up to 1056.5 crore and gross debt outstanding has come down to Rs 1843.2 crore.

Consequently, the company's gross debt to pro-forma equity ratio has dropped from 2.8 to 1.7 during the current year. This is despite a 52% y-o-y growth in the company's reported revenues to Rs 1979.1 crore during the first 9 months of the current year.

Powered by Capital Market - Live News

Also Read

First Published: Mar 23 2018 | 11:58 AM IST

Next Story