Tata Sons is a debt-free company on a net basis for the first time in 18 years.
The Tata group’s main holding company and promoter reported gross debt of Rs 363.2 crore at the end of March this year, a sharp decline from Rs 22,176 crore at the end of FY23.
Against this, the company reported cash and equivalents worth Rs 3,042 crore at the end of FY24, compared to Rs 1,534 crore a year ago. This translated into negative net debt of Rs 2,679.2 crore.
At its peak, Tata Sons had an outstanding debt of €