The company's standalone long-term outstanding debt of Rs 1,369 crore standing as on 31 March 2017 which was scheduled to be repaid by FY 2032, was brought down to Rs 457 crore as on 31 March 2021 by substantial repayment of debt during last financial year from internal accruals, with improvement in financial performance of the company.

The balance outstanding debt of Rs 457 crore has been fully repaid by the company during the current year out of internal accruals.

On consolidated basis the long-term outstanding debt is Rs 340 crore, as on date, which is exclusively relating to Solar Power Project in Godawari Green Energy, which continues to be repaid out of cashflow of solar project. As on the date the instalments of solar power project term loan are repaid upto 31 October 2022.

Godawari Power & Ispat is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, Ferro alloys, captive power, wires rods (through subsidiary company), steel wires, oxygen gas, fly ash brick and iron ore pellets.

The company's consolidated net profit surged to Rs 326.95 crore in Q4 FY21 from Rs 33.37 crore in Q4 FY20. Net sales grew 60% YoY to Rs 1,262.25 crore during the quarter.