Jindal Steel & Power targets to reduce debt by Rs 10,000 cr

Aims to achieve EBITA of more than Rs 12,000 cr over next two years

Jindal Steel & Power has set target to reduce it's net debt by more than Rs. 10,000 crore to below Rs. 30 thousand crore and take EBITDA (Earnings Before Interest, Tax, Depreciation & Amortization) to more than Rs. 12,000 crores per year on a consolidated basis over the next two years.

The company's Chairman, Naveen Jindal said, 'though there is slowdown, our company is comfortably placed in the market with our value added and niche products. The company would be more aggressive in marketing its products and would continue to look to divest the non-core assets, to reduce debt to the target level. The company has successfully reduced it's net debt by more than Rs. 4000 crore in the last fiscal and our team will continue with the spirit to more than double the EBITDA in next 2-3 years.'

 

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