RIL to be free of debt this year, says Mukesh
Reliance Industries (RIL), India’s largest private company, will be debt-free this year, Chairman Mukesh Ambani told shareholders at the company’s 37th Annual General Meeting here on Friday.
RIL had an outstanding debt of Rs 67,397 crore on March 31 this year and cash and equivalents of Rs 42,393 crore.
“Reliance will be completely debt-free, net of cash balances, within this year,” Ambani said. “All these reflect a robust financial position and a sound balance sheet, which will help the company finance emerging opportunities,” he said
| OTHER DEBT-FREE COMPANIES | |
| Company | As on |
| Infosys Tech | Mar, 11 |
| NMDC | Mar, 10 |
| Nestle India | Dec, 10 |
| Natl Aluminium | Mar, 10 |
| Oracle Fin Serv | Mar, 10 |
| Engineers India | Mar, 10 |
| Oberoi Realty | Mar, 10 |
| P&G Hygiene | Jun, 10 |
| Pfizer | Nov, 09 |
| As per latest balance sheets available | |
When that happens, RIL will join an elite group of 37 Indian companies in the BSE 500 list which have zero debt, according to their latest balance sheets. These include Infosys, Engineers India, NMDC and Nestle. For more visit: Business-Standard
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