Crompton Greaves Consumer Electricals transitions to net-zero debt
Crompton Greaves Consumer Electricals today announced the successful repayment of the final tranche of its Non-Convertible Debentures (NCD) with principal amounting to Rs. 300 crore. This milestone marks the full repayment of the total debt of Rs. 2,125 crore undertaken for the acquisition of Butterfly Gandhimathi Appliances (Butterfly), a 75% subsidiary.
The repayment effort has involved settling all five scheduled tranches, reinforcing the Company's strategy to minimize debt and thereby significantly reduce interest costs. As a result, the Company can channel more resources into future growth initiatives, innovation, and shareholder returns.
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