India Cements to explore steps to reduce debt costs

India Cements to explore steps to reduce debt costs
Published: 19 January 2005

INDIA Cements Ltd will continue to look at steps to infuse fresh money into the company to reduce the cost of debt and to bring down the number of lenders, according to Mr N. Srinivasan, Vice-Chairman and Managing Director, India Cements.   Addressing shareholders at an extraordinary general meeting here on Monday, he said the cement industry was looking up and prices were getting stabilised. Even in the South, the company’s major market, the "supply overhang" was getting extinguished. Given the prospects of better operation and better financial performance, the efforts being taken by the company would see it going back to the days when its finances were healthy, Businessline reported