Spectrum Foods informs about debt reduction update

20 Oct 2023 Evaluate

Spectrum Foods has informed that the company (SFL), a leading player in the salt and green energy industry, has achieved a significant milestone in its financial journey. As of the current financial quarter, SFL is on course to become debt-free using internal accruals. SFL’s bank debt, which once stood at INR 22.5 crore in 2015, is currently less than INR 1 crore, reflecting an impressive 97% reduction in debt over the past years. By eliminating external debt and relying on internal accruals, the company is further strengthening its financial options to invest in its businesses - including SFL’s ambitious 5-star resort project in Pushkar, Rajasthan which is under construction and will have more than 150 rooms. The company remains committed to maintaining transparency and adherence to all regulatory requirements and will continue to keep updated on any significant developments in its financial performance and operations.

The above information is a part of company’s filings submitted to BSE.


Spectrum Foods Share Price

25.09 -0.17 (-0.67%)
22-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Nestle 2248.15
Britannia Inds 4844.70
Varun Beverages 616.65
Marico 599.20
Hatsun Agro Product 1051.95
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.