Godawari Power & ISPAT pays off whole standalone debt of Rs. 1369 cr, Stock hits upper circuit

Godawari Power & ISPAT Ltd. has now become a debt-free company on a standalone basis by repaying its entire long-term borrowings.

The company's standalone books showed outstanding long-term of Rs. 1369 crore at on 31.03.2017. At the end of FY21 the company was successful in bringing down its long-term debt to the

a level of Rs. 457 crore. Now this outstanding balance has been paid off fully. The loan which was scheduled to be repaid by FY2032, but has been paid off this early due to the robust internal accruals and improving financial position of the company.  

The stock today hit an upper circuit of 5% on BSE and the stock was trading ar Rs 1373.85.

As for the consolidated balance sheet, Rs. 340 crore debt is still outstanding. The debt financed  solar power project in Godawari Green Energy Limited, is being repaid as and when cash flows are received.

GPIL operates in iron & steel products industry. It is a fully integrated steel manufacturing company which specializes in manufacturing mild steel wires. The company also owns Iron Ore mining rights which enables it to be an end-to-end manufacturer( from raw materials to finished goods).