Crompton Greaves Achieves Debt-Free Milestone After Rs. 2,125 Crs Repayment
Crompton Greaves Consumer Electricals Ltd. announces full repayment of Rs. 2,125 Crs debt, achieving a zero-debt status. This accomplishment enhances their ability to invest in growth and innovation. The move demonstrates commitment to financial discipline, positioning the company for future opportunities.
- Country:
- India
In a significant financial milestone, Crompton Greaves Consumer Electricals Ltd. announced today that it has fully repaid the debt associated with the acquisition of Butterfly Gandhimathi Appliances Ltd. This final repayment, totaling Rs. 300 Crs, completes the clearance of Rs. 2,125 Crs in debt.
The settlement of the non-convertible debentures (NCDs) aligns with the company's strategy to minimize financial liabilities and decrease interest costs, thereby freeing up resources for future growth and innovation. Chief Financial Officer Kaleeswaran Arunachalam expressed satisfaction with reaching a zero-debt position, attributing it to the firm's resilient business model and consistent cash flow generation.
CGCEL, a leading player in the consumer durables market with strong positions in fans, pumps, and appliances, aims to leverage this momentum to make responsible investments that drive sustainable growth. This strategic financial maneuver underscores the company's commitment to maintaining fiscal discipline and poised positioning for enhanced shareholder returns.
(With inputs from agencies.)
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