Emami Group Inches Closer to Being Debt Free - Papermart

Emami Group Inches Closer to Being Debt Free

The company had a total debt of Rs 2246.76 crore as on March, 2018, consisting of Rs 2093.86 crore as secured term loan from banks and financial institutions, and Rs 152.90 crore working capital borrowings.

December 25, 2019

According to media reports, the Emami Group is inching closer to turning debt-free in line with the city-based diversified conglomerate’s plans for the 2019-20 fiscal.

Emami Group Inches Closer to Being Debt Free

The group had earlier this year said it was looking to pare the entire debt of Rs 2600 crore by March, 2020. The target is likely to be achieved well within the internal deadlines. The promoters had repaid in excess of Rs 2800 crore since April from resources raised through selling a part of their holdings in the flagship and listed entity – Emami Ltd.

Speculation is also rife that the group would soon seal the deal for its cement business at a valuation ranging between Rs 6,000 crore and Rs 7,000 crore. Emami’s mining leases in Chhattisgarh, Rajasthan and Andhra Pradesh are also a part of the valuation, over and above the cost of plant, machinery, land and installed capacity.