JSPL aims to reduce net debt to below Rs 30K level in next 2 years

New Delhi, Sep 29 () Jindal Steel & Power (JSPL) on Sunday said it has set a target of reducing its net debt by more than Rs 10,000 crore to below Rs 30,000 crore in the next two years.
“JSPL has set target to reduce its net debt by more than Rs 10,000 crore to below Rs 30,000 crore and take EBITDA (earnings before interest, tax, depreciation and amortization) to more than Rs 12,000 crore on a consolidated yearly basis over the next two years,” a company statement said.

JSPl chairman Naveen Jindal disclosed his plans at the company’s 40th AGM in Hisar on September 27, 2019.

Jindal said, though there is slowdown, the company is comfortably placed in the market with value added and niche products.