Jindal Steel opens capex window amid continued deleveraging plans

To double capacity via internal accruals with eye on debt/EBITDA ratio

Having reduced its debt considerably over the last few quarters, Naveen Jindal-led Jindal Steel & Power (JSPL) plans to deploy its cash generated for doubling of capex—an option it had shut itself to on account of strong deleveraging focus.

“With company’s consolidated net debt having come down to a comfortable position at Rs 19,700 crore after the recent pre-payment, we are now looking to double capacity mainly via internal accruals,” VR Sharma, managing director at JSPL told Business Standard today.
 

The Delhi-based primary steel producer today reported highest consolidated EBITDA (earnings before, interest, taxes, depreciation and ammortisation) of Rs 5,287