Tata Motors chairman N
Chandrasekaran told shareholders that the firm is aiming near-zero debt in the
next three years at the Virtual General Meeting (AGM). “The TML group currently
has a net automotive debt of Rs 48,000 crore and is deleveraging the business
substantially. The target is to bring it to near zero debt level in the next
three levels,” he said.
“The company has already taken
steps towards it. This includes making the company free cash flow positive by
FY22,” Chandrasekaran added. The Tata Motors saw a sudden spike and climbed up
to 5% on August 25. The company is also aiming to unlock new non-core investments
for Tata Motors.
Also, the management said that
its premium business segment JLR would be cash positive from now as the ongoing
trade conflicts have impacted sales all over the world.
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