Commodity boom helps metal companies strengthen balance sheets
Metal companies' balance sheets have improved significantly -- debt levels have fallen and leverage ratios have improved.
Synopsis
Total net debt of the top six metal companies including Tata Steel, JSW Steel, Vedanta, Hindalco, Jindal Steel and Power and SAIL fell by Rs 80,000 core year-on-year to Rs 2.5 lakh crore in FY21.
ET INTELLIGENCE GROUP: Once struggling with high debt burden and low earnings due to volatile demand, Indian metal companies have seen their fortunes change over the past year. With rising global prices and improving demand scenario, their balance sheets have improved significantly -- debt levels have fallen and leverage ratios have improved. The net debt of these companies relative to operating profit before depreciation and amortisation
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