Tata Steel prioritises over $2 bn gross debt reduction in FY22

08 Jul 2021 CW Team

The estimated average expenditure of Tata Steel in India, over the next five years is around Rs 10,000-12,000 crore per annum, and that leaves out potential acquisitions. Tata Steel is poised for the upcoming growth stage even as it proceeds to stay the course on deleveraging.

The firm is likely to decrease gross debt by over $2 billion in FY22.

Koushik Chatterjee, Executive Director and Chief Financial Officer, Tata Steel, told the media that to position the next stage of the growth, the company would continue to deleverage and make its balance sheet even more effective.

The presentation of the investors informed that amongst the FY22 deleveraging priorities, over $2 billion gross debt reduction and prioritising offshore debt pre-payments. He said the firm had made material repayments in the Singapore and European balance sheets even in the June quarter.

Chatterjee further added that in FY21, Tata Steel decreased net debt by $4 billion. In the next 2-3 years, the priority would be nearly $1 billion of repayment every year before the allocation surpluses towards growth. If there are acquisition possibilities, they will revisit the level.

He also pointed out that despite the Bhushan Steel and Usha Martin acquisitions of over Rs 40,000 crore in the interim period, the company's net debt has been restored to FY18 level of Rs 75,000 crore.

The firm was able to record gross debt/EBITDA of 2.9x and net debt/EBITDA around 2.5x. However, it has established an aim of net debt/EBITDA at 2x.

Image Source

Also read: Crude steel output of Tata Steel surges over 43%, sales by 35%

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..