Jindal Stainless(JSL), a part of the $18 billion OP Jindal group, is looking at operational and financial restructuring to cut its Rs 8,580 crore of debt by 64 per cent.
The company will trim its debt through improved cash flow, reduction in interest cost and operational efficiencies.
At present, the country’s largest stainless steel manufacturer, has a factory each in Haryana and Odisha, with cumulative capacity of 1.6 million tonnes a year. The business restructuring would help company utilise idle capacity and improve cash flows, through longer tenure of the restructured loan.
Jindal Stainless is the largest integrated manufacturer of stainless steel in India and is ranked among the top 10 stainless steel manufacturers in the world, with a capacity of 1.8 million tonnes (MT).