JSPL prepays Rs 2,462 cr to lenders

The prepayment of debt is in continuation of the company’s long stated financial strategy of debt reduction and building a robust balance sheet with optimum capital mix. 

The company’s production stood at 7.51 million tonnes during the financial year ended 31st March, 2021. JSPL has recently announced divestment of its thermal power business to reduce its debt further as well as to cut down on its carbon footprint by almost half. 

JSPL has worked with a singular focus of debt reduction of more than Rs 20000 crores from a peak of approximately Rs 46,500 cr in 3QFY17 to Rs 25,600 cr as reported in 3QFY21, the company said in a statement.