SAIL planning to reduce debt drastically in FY22
27th Aug 2021

Steel Authority of India (SAIL) is planning to reduce debt drastically from around Rs 30,000 crore now to anywhere between Rs 15,000-20,000 crore in the current fiscal (FY22), depending on steel prices and demand situation. The Maharatna PSU has around Rs 30,000 crore net debt as of June 30, 2021, down from Rs 35,350 crore by end of the previous fiscal. The company had announced that it would spend Rs 8,000 crore as capital expenditure during the current financial year.

SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.