Rama Steel Tubes Ltd reduces Total Sanctioned Bank Loans Limits of INR 737.40 Million over a month

Rama Steel Tubes Limited (RSTL), a pioneer and a leading manufacturer of steel pipes, G.I. pipes and tubes in India, announced a significant milestone in its financial strategy. Today, we are pleased to announce the further successful reduction in total bank loans, marking a substantial achievement in our journey towards financial stability and growth.

Through diligent financial management and strategic decision-making, RSTL has further reduced its total sanctioned Bank Loans Limits by INR 737.40 Million which is 21% of total existing sanctioned limits over the month.

During the year company has reduced total sanctioned loans limits by INR 1,897.20 Million which is 55% of total existing sanctioned loan limits, including Lepakshi Tubes Private Limited.

This accomplishment underscores our commitment to strengthening our financial position and enhancing shareholder value.

Mr. Richi Bansal WTD & CEO of RSTL, expressed his satisfaction, stating, "The reduction of our Bank Loans demonstrates our dedication to prudent financial management and sustainable growth. We remain focused on optimizing our capital structure, reducing debt burdens, and maximizing shareholder returns."

This reduction in our bank loan reflects our confidence in our business fundamentals, operational efficiency, and long-term prospects. It also reaffirms the trust and support of our stakeholders, including shareholders, customers, and financial partners.

As we move forward, RSTL remains committed to maintaining a strong financial footing, investing in strategic initiatives, and delivering value to all stakeholders.

Source : Equity Bulls

Keywords

RamaSteelTubes Milestone FinancialStrategy Repayment