Better market conditions, higher output help SAIL pare debt from peak level

Company says net debt down 15% from a peak of Rs 52,290 cr as on April 30, 2020, to Rs 44,308 cr on Dec 31, 2020

Public sector major Steel Authority of India Ltd (SAIL) has managed to reduce its net debt from peak levels over the past eight months.

SAIL said on Friday that it had reduced net debt from a peak of Rs 52,290 crore as on April 30, 2020, to Rs 44,308 crore on Dec 31, 2020, a reduction of Rs 7,982 crore. The company continues its efforts to deleverage further, it said. 

In April, SAIL had raised alarm bells over its financial position in a letter to plant and unit heads. With the nationwide lockdown to contain the Covid-19 pandemic, inventory levels