Godawari Power relieves debt and pays off all long term loans

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Godawari Power relieves debt and pays off all long term loans



outlookindia.com

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

New Delhi, 6 July. (PTI) Godawari Power and Ispat Ltd (GPIL) on Tuesday said they were out of debt by repaying all of their long-term loans.

The company said it had paid off the outstanding debt of Rs 457 crores.

“The company has been freed from debt by repaying all of its long-term loans to date,” the GPIL said in a statement.

The company said that its separate long-term outstanding debt of Rs 1,369 crore at March 31, 2017, due to be settled by FY2032, has been reduced to Rs 457 crores at March 31, 2021 due to substantial debt repayment. during the last financial year due to internal charges with improved financial performance.

The outstanding balance of Rs 457 crore was fully repaid by the company this year through internal charges, the company added.

Godawari Power and Ispat have stated on a consolidated basis that the long-term outstanding debt to date is Rs 340 crore, which is solely due to the solar project at Godawari Green Energy Ltd.

The company said the loan continues to be paid off with the solar project’s cash flow.

As of today, the installment plan of the urgent loan for the solar energy project is repaid until October 31, 2022, he added. PTI SVK BAL


Denial of responsibility: – This story has not been edited by Outlook staff and is automatically generated from news agency feeds. Source: PTI


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