Tata Motors 2011- Tata Motors reduces net debt by 21% in FY11 to Rs 21,480 cr Tata Motors 2011 Tata Motors' consolidated net debt has come down by 20.70 per cent during 2010-11 to Rs 21,479.90 crore on account of fund generations from institutional buyers and conversion of foreign securities. According to the company's Annual Report for 2010-11, Tata Motors had a net debt of Rs 27,086.49 crore as on March 31, 2010. "The significant reduction in debt mainly relate improvement in operations, fund raising through Qualified Institutional Placement issue of Rs 3,249.80 crore and conversion of Foreign Currency Convertible Notes of Rs 1,490.25 crore," the company said. The homegrown auto major said its British subsidiary Jaguar Land Rover (JLR) had a net debt of 233 million pound (about Rs 1,680 crore). "During the year, JLR took steps to establish hedging lines in order to reduce risks to the business from foreign exchange fluctuations and establishing long-t...
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