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Liquidity maintained at 10% of book, sufficient to easily repay commercial paper holders, says SREI Infra

Updated : September 28, 2018 12:57:27 IST

The SREI Infra stock is seeing incremental correction on the back of a 20 percent intra-day fall on Thursday and a 40 percent fall this month.

Talking about short-term liabilities and maturities, DK Vyas, CEO of the company, said, “We have been making all the liability commitments and repayments on dot. As of today, we are making payment of Rs 850 crore of commercial papers (CPs). There are no short-term liabilities."

The company will be left with Rs 1000 crore of CP liability which will need to be paid in next three months, said Vyas.

>>Repaid all debt obligations as on date without any delay, says Srei Infra

“As a prudent policy as an organisation we always maintain sufficient liquidity around 10 percent of our book in the form of liquid asset or undrawn limit, etc,” he added.

When asked if they would be raising money from bond markets any time soon, he said raising resources is a routine course of business.

The cost of funds in the June quarter was 9.3 percent, he said, "Whatever rate hikes or cuts happen are passed on to the customers and that is why the net interest margins have been stable for the company," said Vyas.
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