In the past, he has exited businesses like steel, cement and synthetics. The recent sale of the consumer care business to the Godrej group for ₹2,825 crore was part of that journey.
"We have always said that if we can monetise some assets at a good price for the FMCG business, it will be a win-win situation for both parties. As a result, today the company is 100% debt-free," he said, adding that every business can be sold for a price.
And the numbers reflect his drive to make the group profitable and, of course, get rid of debt. In FY23, the net debt of the group was at ₹689 crore, down sharply from ₹1,088 crore in FY22.At the same time, net profit has also more than doubled from ₹260 crore to ₹529 crore. And once the first-quarter results come in, the group would indeed be debt-free.
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