Steelmakers To Slash Rs 35,000 Crores Debt

Primary steel producers are expected to reduce debt by 15%, or Rs 35,000 crore, between fiscals 2021 and 2022, using the higher operating profits generated for prepayment, CRISIL has stated. "That, and a partial deferral of capex this fiscal will strengthen the balance sheets and credit metrics of five primary steel producers, which account for 55% of domestic production.
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