Neelachal Ispat eyes Rs 400 cr Ebitda, marginal net profit in FY20

Neelachal Ispat Nigam Ltd (NINL), a company co-promoted by MMTC Ltd and two Odisha government controlled entities, is eyeing Ebitda (earnings before interest, taxes, depreciation and amortisation) of Rs 400 crore in the current financial year (FY20).

NINL is eyeing a marginal net profit in FY20. S S Mohanty, NNL’s vice chairman and managing director, said the company expects to be back in the black powered by the launch of 20 new value-added products.

For the past five years, NINL has been haemorrhaging, largely due to a lack of capital infusion by promoters. Moreover, being a leveraged company, a sizeable