Hindustan Zinc to cut debt by Rs 4,000 cr by March-end, says CFO
Hindustan Zinc Ltd plans to pare its debt by a third by the end of this financial year bolstered by additional cash flows after a likely relatively robust performance in the October to March period.
The country’s largest producer of zinc, lead and silver expects to reduce its debt to about Rs 2,000 crore by March-end from about Rs 6,000 crore at the end of the September quarter, chief financial officer Sandeep Modi told analysts after the company’s quarterly earnings.
“…we have already generated free cash flow of Rs7,000 crore in H1, and normally H2 remains better. So, I think it's only a timing difference,” he said.
While Hindustan Zinc has been largely cash positive, it may look to raise debt to pursue capacity expansion, Modi said.
“…as we go for 2 million tonnes’ expansion, we may look for some debt equity, depending upon our project IRRs being a very, very high basis,” he said.
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