₹50000 crore in FY22 from ₹62000 crore at June end on the back of consistent free-cash-flow generation and lower capital expenditures," said analysts at Motilal Oswal Financial Services Ltd in a note to clients.In addition, the firm is looking to divest some of its facilities in the US, which would further deleverage the balance sheet.
But note that this could take some time due to the sluggish global economic conditions.Hindalco has also cut back on capital expenditures to conserve cash during covid-19 times.
But Novelis hold's the cards to recovery in the coming quarters. With cash flow generation expected to be strong, it could support growth in the coming years.However, its stock has run-up considerably in the recent past and may have.