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3 Debt Relieving Companies With Huge Debt Reduction In Preceding Year
Most companies with large market caps are in debt, and the debt seems to be increasing over the years because it has its benefits to the companies. However, debt might be good for a short-term period, but in some ways, it is not good in a longer-term perspective which is why most investors in the equity market stay away from companies with huge debt.
So, here are 3 companies that have reduced huge debt over the preceding years.
Sun Pharmaceuticals Industries Ltd
Sun Pharmaceutical Industries Ltd is a large-cap pharma sector company India's biggest pharmaceutical corporation. It manufactures, develops, and markets a variety of branded and generic formulations and Active Pharma Ingredients (APIs). With trading and other incidental and associated activities extending to the worldwide market, the corporation and its subsidiaries have numerous manufacturing facilities dispersed worldwide. It is India's biggest pharmaceutical corporation.
The company's market capitalization is currently over Rs. 217,524 Crores with a current market price of Rs. 907. The company has shown a huge reduction in gross debt in recent years; 3 years back, the company had a debt of Rs.104.8 Billion; one year back, the company had gross debt of Rs 35.2 billion, and currently, it has gross debt of only Rs. 9.3 Billion.
India Bulls Real Estate Ltd.
India Bulls Real Estate Ltd is a leading real estate company in India. The company specializes in developing real estate from premium to affordable & Uber-luxury space. The company mainly focuses on developing and constructing commercial, residential and SEZ projects across different metro cities in India.
The stock is trading at the current market price of Rs. 73.2, with a market capitalization of over Rs. 3,965 Crores. The company has seen a good debt reduction in the previous years, and the debt of the company has been reduced by more than 50% from Rs. 1,005 Crores in Q4 FY2022 to Rs. 464 Crores.
Tata Steel Ltd
Asia's first fully integrated private steel company, Tata Steel Ltd, was founded in 1907. The business is present throughout the whole steel production value chain, from mining and processing iron ore and coal to creating and distributing completed goods. By 2025, the company hopes to reach a 30 MnTPA domestic steelmaking capacity.
Tata Steel ltd is a large-cap company with a market capitalization of Rs. 119,138 Crores, and the current market price of the stock is Rs. 97.6. The company has completed a debt repayment of Rs. 15,232 crores in the last 12 months. In the preceding year, the gross debt Mar '21 was Rs. 88, 501 Crores; in the latest year, the gross debt mar '22 was Rs. 75,561 Crores.
