₹3,300 crore, the company has incurred ₹1,900 crore till FY20-end. It should be noted that the company’s Vizag grinding unit was commissioned in March but the commissioning of the new greenfield Odisha grinding unit and clinker capacity expansion at Jayanthipuram has been delayed by three-six months to August and March, respectively, due to coronavirus-led disruptions.According to analysts this delay cannot be negated since it could push the company’s net debt up to an estimated ₹3,500 crore during first half of FY21.
Ramco’s net debt stood at ₹2,900 crore as end of March, nearly doubling from the year-ago period. Of course, once the expansion is complete, ramp-up of new capacities would aid volumes and improve operating costs.