No plans to expand, JSPL hopes to become debt-free in 4 yrs: Naveen Jindal

Jindal Steel and Power Ltd (JSPL) hopes to become debt free in the next 3-4 years, its Chairman Naveen Jindal said on Tuesday.

Speaking at the India Economic Conclave 2019, he however said his company will no longer expand in newer areas.

“In the last few years, the way things have hit us, we have become risk averse and conservative. We aim to be debt-free in the next 3-4 years. This means we will grow less but we will make sure we remain profitable and maintain our EBITDA margins,” he said.

He noted that the company was not keen on expanding in new areas or growing as it did initially because there is “no appreciation” of the contribution that the company has made in the power and steel sectors.