Indian state-run steel producer Steel Authority of India Limited (SAIL) will retire debt of $2.7 billion by the close of the fiscal year 2021-22, riding on strong sales margins during the year, company chairperson Soma Mondal said on Friday, August 27.
She said that SAIL had liquidated debt of around $676 million during the first quarter (April-June) of the current fiscal year.
In the fiscal year 2020-21, SAIL’s total debt was estimated at $4.78 billion.
Commenting on the market conditions, Mondal stated, ‘There appeared to be an all-round pick-up in demand and, while prices of flat products are stable, in case of long products, indications are that prices would pick up soon.”