Hi, Neeraj… Thanx for pointing out… I totally missed it. Also, I would add that, I am bit skeptical about 200Cr interest payment in Fy25. I think it will be close to 150Cr, my thinking is that, Mgmt has already guided that, they could generate 225-250Cr FCF in Fy25 which I also agree looking at this year Cash flow. Plus they are guiding to reduce their net debt to EBITDA to 3.5x, (i assume they reduce it to 4x, so net debt will be 380*4=1520) Now, currently their interest rate is 9.8% which gives me an interest payment of ~150Cr. However, I have not considered any inorganic expansion. So things may change.
Thanx…
| Subscribe To Our Free Newsletter |
