Sindhu Trade Links reduces debt

Sindhu Trade Links Limited has announced that in terms of Company Management's decision to become debt-free, it has reduced its bank-debt by Rs. 1041.5 million almost 1/3rd of its peak bank-debts.

With promoters' persistence, the company dared to initiate this debt reduction program during the previous financial year itself, wherein businesses across the world were considerably disturbed by outburst of Covid-19 pandemic, and is continuing thereafter with tenacity to reduce balk-debt every quarter, and accordingly Rs. 784.7 million bank-debt has been repaid by the Company in first 9 month of the current financial year.

Commenting on the development, Mr. Satya Pal Sindhu, Managing Director of the Company said "I am very happy that we are moving towards becoming a Zero Debt Company, repayment of bank-debts amounting more than Rs. 1000 million in last 15-18 months not only shows resolve of the company management but also signifies company's financial strength. The bank-debt reduction'll result into huge perpetual savings in interest expense, increased profitability and stronger financials, better credit ratings etc. We are working on other alternative plans also to augment the long-term resources in order to reduce the bank-debt further and confident of becoming debt-free earlier than the envisaged timelines."

Source : Equity Bulls

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SindhuTradeLinks DebtReduction