Indian government-run Steel Authority of India Limited (SAIL) with total debt estimated at $3.15 billion has been able to reduce it by $87 million in fiscal year of 2024-25, a company official said on Friday.
“We are planning to reduce total debt further in the current year. In fact we are now planning to reduce it on month-on-month basis,” SAIL’s Director of Finance, Ashok Kumar Panda said.
“Going forward at a time when capex will increase, the company will have two-pronged approach. Number on is to try increase profitability so that from internal accruals we will be able to fund part of the capex requirement. For the balance we will line up other financial instruments to raise funds,” Panda said.
SAIL has firmed up capital expenditure of $874 million in 2025-26.
