Pipe manufacturer PSL is planning to restructure its Rs 4,500 crore debt. In this regard, the company is in talks with lenders including State Bank of India and ICICI Bank. Under corporate debt restructuring, lenders typically extend the repayment tenure for the borrower and lower the interest rate.
The company, which has a market capitalisation of about $40 million, lost 161 million rupees in the December quarter compared to a net profit of Rs 6.6 crore in the period a year earlier
PSL is India’s largest producer / manufacturer of HSAW pipes, the line-pipe industry's preferred pipe, with production capacity in excess of the 1 MT mark.
