Specialty chemicals manufacturer, Kiri Industries has executed agreements to settle all of its debt. This has resulted in significant reduction of the borrowing of the company by the end of fiscal FY16. The total borrowings have decreased from 853.13 crore to Rs 410.6 crore, which is about 51.87% reduction compared to the previous financial year.
Further, as per settlement agreement executed, the company is committed to settle and repay majority of the balance debt during the current financial year 2016-17.
Kiri Industries is one of the largest manufacturer and exporter of wide range of Dyes, Intermediates and Chemicals from India. KIL, a fully integrated Dyes and Chemicals company is a winner of several CHEMEXCIL and GDMA performance awards.
