JSPL goal to turn net debt-free
Jindal Steel and Power Limited (JSPL) on Friday said it will pay a dividend to investors for 2021-22 and hopes to become net debt-free in the upcoming financial year.
“JSPL has declared an interim dividend of Re 1 per equity share i.e. 100 per cent on the face value for the financial year 2021-22,” JSPL said in a statement.
The record date for the interim dividend is Saturday, March 19, 2022, JSPL said.
JSPL managing director V. R Sharma said the company has reduced its overall debt from a peak of Rs 46,000 crore to below Rs 11,000 crore, and now it aims to become net debt-free in the upcoming financial year.
“The company has also posted an impressive growth in EBIDTA to more than Rs 15,000 crore in the calendar year 2021,” he said.
The board of the company at its meeting on Thursday unanimously approved the dividend. JSPL is an infrastructure conglomerate with a presence in steel, power and mining.