Godawari Power Relieves All Debt and Pays All Long Term Loans


Godawari Power Relieves All Debt and Pays All Long Term Loans


1970-01-01T05: 30: 00 + 0530

New Delhi, July 6 (PTI) Godawari Power and Ispat Ltd (GPIL) said on Tuesday that they had freed themselves of their debts by repaying all their long-term loans.

The company said it had paid off the unpaid debt of Rs 457 crore.

“The company has deleveraged by repaying all of its long-term loans to date,” GPIL said in a regulatory filing.

The company said its stand-alone long-term debt at Rs 1,369 crore as of March 31, 2017 – which was due to be repaid by fiscal year 2032 – had been reduced to Rs 457 crore as of March 31, 2021, by repayment substantial debt. during the last fiscal year from internal adjustments, with an improvement in its financial performance.

The outstanding debt balance of Rs 457 crore has been fully repaid by the company in the current year from internal provisions, the company added.

Godawari Power and Ispat said that on a consolidated basis, the outstanding long-term debt is Rs 340 crore to date, which is exclusively related to the solar power project of Godawari Green Energy Ltd.

The company said this loan continues to be repaid from the solar project’s cash flow.

To date, the installments of the term loan for the solar power project are repaid until October 31, 2022, he added. PTI SVK BAL

Warning :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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