Welspun Corp first quarter consolidated earnings were marred by foreign exchange losses and provisions related to that.
Akhil Jindal, Director of Welspun Group denies the ban to raise money from the capital market. The net debt is currently at Rs 2,500 crore against their networth of Rs 5,000 crore. They aim to bring it down to below Rs 1,000 crore in 3 years which is at .23 of debt equity levels and that is quite comfortable.
Akhil Jindal, director of Welspun Group joins CNBC-TV18 to talk about the company’s Q2 FY12 results and plans going forward.
Welspun Group will be recieving capital infusion of USD 500 million from PE Apollo Global Management to expand its presence in the global oil and gas pipe market.