Economic Times reported that Jindal Steel & Power Ltd MD Mr VR Sharma in an interview with ETNOW, while replying to a question “How much of your debt is coming up for maturing in FY20? What exactly is your plan to service the same?” said that “Debt is a financial mechanism. No industry will survive without debt, but how much debt is the question. The more you grow, the more debts will come, more profit you will make and more prepayments you will do. We were at INR 39,000 crore in the beginning of the year and we will close at about INR 34,000 crore by the end of this year. We will reduce debt by INR 5,000 crore.”
He added “However, we are not investing in CAPEX. There is no increase in debt because there is no CAPEX on the anvil. The policy we have opted for is called earn and invest. So, whatever we earn out of our EBITDA and out of our profits, a part of that will go to CAPEX. The main aim is to sweat out the existing facilities and we are sure we will be in a position to do that.”
Source of information