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After three years of merger and acquisitions, India’s largest cement producer UltraTech will focus on debt reduction in the next two financial years, top officials at the cement maker said.
“The focus for FY20 would be debt reduction and improving cost efficiency,” said Atul Daga, chief financial officer for UltraTech, adding, ”The debt reduction focus will continue into FY21.” The Aditya Birla group’s cement company, at present, has a debt-to-ebitda ratio of 2.5 times. Ebitda is earnings before interest, taxation, depreciation and ammortisation.
“We look to reduce this to below two times in FY20 and below one time by FY21,”
