Sindhu Trade Links Ltd. reduces its bank debt by Rs. 1041.5 million, aims to be debt free by 2023



NNA |
Update:
February 05, 2022 1:34 p.m. STI

New Delhi [India]Feb 5 (ANI/PNN): BSE-listed Sindhu Trade Links Limited is pleased to inform that regarding the company’s management’s decision to become debt free, it has reduced its bank debt by Rs. 1041.5 million, almost 1/3 of its peak bank debt.
With the persistence of promoters, the company dared to launch this debt reduction program in the previous fiscal year itself, in which businesses around the world were significantly disrupted by the explosion of the COVID pandemic. -19, and continues tenaciously to reduce bank debt every quarter thereafter. , and as a result Rs. 784.7 million of bank debts have been repaid by the Company during the first 9 months of the current financial year.
Commenting on the development, Satya Pal Sindhu, Managing Director of the company, said, “I am very happy that we are moving towards a debt-free society, with the repayment of bank debts amounting to more than 1,000 million rupees during for the last 15 to 18 months. not only shows the determination of the company’s direction, but also signifies the financial strength of the company. Reducing bank debt will mean huge perpetual savings in interest costs, increased profitability and stronger finances, better credit ratings, and more. We are also working on other alternative plans to increase long-term resources to further reduce bank debt and confident of getting out of debt sooner than expected.”

Sindhu Trade Links Limited (STTL) is the flagship company of the conglomerate which operates in logistics, transportation, mining, coal beneficiation, power generation, iron and from spongy steel, stock brokerage, media, finance, food processing park and real estate.
Based in Delhi-NCR, STTL is a “one stop shop” for a wide range of support services required for mining and related activities, logistics and transportation. STTL has 5 subsidiaries and associates, involved in diversified businesses, namely 1. Hari Bhoomi Communications Private Limited-Media Business, 2. Sudha Bio Power Private Limited – Bio Mass Based Power Generation, 3. Indus Best Mega Food Park Private Limited – Development of Food Park for Food Processing Industries, 4. Shyam Indus Power Solutions Private Limited – Power Distribution EPC, Power Transmission, OHE Railway, Railway Track Laying and 5. Param Mitra Resources Pte. Limited – Overseas Coal Mining. For Overseas Coal Mining activities, the Company has several subsidiaries, associates and joint ventures in Australia, Hong Kong, Singapore and Indonesia.
STTL’s capital shares are listed on the BSE (script code: 532029) with ISIN: INE325D01025
(NSE List applied and expected)
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