Jindal Steel & Power MD talks expansion, capex, and more

27 Sep 2023 CW Team

Bimlendra Jha, the Managing Director of JSPL, stated that they had mentioned that their debt should not exceed 1.5 times their EBITDA at any given time. He noted that they currently maintained a low debt level and anticipated that their internal accruals would provide substantial funding for their expansion plans. He emphasised their conservative approach, aligning with their internal cash flow generation.

Regarding JSPL's expansion plans, he mentioned that they were currently in a continuous expansion phase. They were in the process of doubling the capacity at their Angul plant in Odisha, with the expectation that it would double by the following year. Additionally, they were working on enhancing the capacity of their Raigarh plant to almost twice its existing capacity within the next three years. There were also plans for further expansion at the Angul plant after completing the initial phase of expansion.

When asked about how they planned to finance this capital expenditure and whether there would be a significant increase in debt or EBITDA by the end of FY2024, he reiterated their commitment to fiscal discipline in expansion. They had previously stated that their debt should not exceed 1.5 times their EBITDA. Given their current low debt level, they relied on internal accruals to fund their expansion plans. Their approach remained cautious and aligned with their internal cash flow generation.

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