We will be net debt free by July 2022, says JSPL's MD V R Sharma

"Our main interest is not inorganic growth, it is brownfield expansion," said Sharma

Higher EBITDA, led by the upturn in steel cycle, lower capex and declining finance costs have brought down Jindal Steel & Power’s (JSPL) net debt from a peak level of Rs 46,500 crore in FY16 to Rs 11,164 crore in Q2FY22. In an interview, JSPL Managing Director V R Sharma tells Ishita Ayan Dutt that the company aims to be net debt free by July 2022. Edited excerpts:

You bagged Kasia iron ore mine in the auction at a premium of 118 per cent. How will it boost your iron ore security, and is this premium viable?

In our case,