Anand Agarwal, CEO and director of Sterlite Technologies says during the construction phase, interest rate was 11.5-12 percent. It has now managed to refinance the project almost 150 basis point below that, he says.
Sterlite Technologies ' subsidiary Sterlite Grid has successfully refinanced project loan worth Rs 925 crore for East North Interconnection. The refinancing has been on favourable terms compared to earlier debt and was done within three months of project becoming fully operational.
Anand Agarwal, CEO and director of Sterlite Technologies says during the construction phase, interest rate was 11.5-12 percent. It has now managed to refinance the project almost 150 basis point below that, he says.
The company has six transmission projects in its portfolio in various stages of development. Agarwal says these projects will contribute Rs 500-550 crore in FY16.
He says the impact of the decrease in interest will start reflecting in the bottomline in a progressive manner.
Below is the verbatim transcript of Anand Agarwal's interview with CNBC-TV18\\'s Sumaira Abidi and Reema Tendulkar.
Sumaira: We understand that this refinancing was done on terms which weigh more favourable for your company. Can you take us through what these terms are?
A: This is a project which is a part of our portfolio of transmission projects. This was the first project out of our six projects which we are developing as a concessionary developer. While during the construction this project we finished in November of this year and while during the construction phase the interest rate was normal construction interest rate between 11.5 to 12 percent. We were able to refinance the entire project at almost 150 basis point below the construction part which showcases the faith on the receivables over the next 25 years for this project and that was the entire business plan, that was the entire business approach and that got validated, Within three months of us finishing the project it got fully refinanced.
Stay tuned for more...
Sterlite Techno stock price
On February 25, 2015, at 14:13 hrs Sterlite Technologies was quoting at Rs 65.10, down Rs 0.45, or 0.69 percent. The 52-week high of the share was Rs 79.30 and the 52-week low was Rs 19.05.
The company's trailing 12-month (TTM) EPS was at Rs 1.40 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 46.5. The latest book value of the company is Rs 30.92 per share. At current value, the price-to-book value of the company is 2.11.
Anda sedang membaca artikel tentang
Sterlite Tech arm refinances Rs 925-cr loan
Dengan url
https://kesehatanda.blogspot.com/2015/02/sterlite-tech-arm-refinances-rs-925-cr.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Sterlite Tech arm refinances Rs 925-cr loan
namun jangan lupa untuk meletakkan link
Sterlite Tech arm refinances Rs 925-cr loan
sebagai sumbernya
0 komentar:
Posting Komentar