Guilty of confirmation bias
A nice write-up, although I disagree with debt reduction level, here they have extrapolated first quarter debt reduction to all 4 quarter which 52 * 4 = 208, however in q3, q4, the debt was already 65cr only so I don’t think debt will reduce much higher or anywhere close to 50,
TLDR: IMO debt reduction should contribute to 120-140cr to bottom line as per this above article
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