Long term debt reduced by around 200 odd crores in the HY. Interest outgo has reduced proportionally. Crisil ratings is a good read about the capex and assets.
The company is expected to undertake yearly maintenance capex of Rs. 100-150 crore and a partially debt funded capex of Rs. ~650 crore during FY 24-26 to set up a BCTMP pulp mill, which will help in backward integration and will substitute imported pulp at Unit CPM. Despite the said capex and acquisition of Manipal Utility Packaging Solutions Pvt Ltd for a consideration of Rs. ~90 crore, expected to be funded out of cash accrual.
The company’s liquidity position remains strong, characterized by healthy unencumbered cash and bank balances of Rs. 1225 Cr (Rs. 900 Cr in Mutual Fund and Rs. 325 Cr in Bonds) as on September 2023 and average unutilized fund based limits of around Rs 163 crores (~65% of total limits of Rs 250 crores).
source: crisil ratings
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