A huge pile of debt has been among the key worries for investors in the India Cements Ltd stock. At the end of Q4FY21, gross debt stood at ₹3,000 crore, compared to ₹3,530 crore in Q4FY20, said the company’s management in a post-earnings conference call. This strategy resulted in a sharp reduction in receivables and generated operating cash flow of ₹1,040 crore in FY21. While these efforts are in the right direction, analysts said it was overshadowed by the company’s poor operating performance in Q4FY21. In the backdrop of elevated operating costs, the company has resorted to price hikes of ₹10 per bag in April and May.

Source: Mint May 25, 2021 19:38 UTC