Homegrown logistics solutions provider EWHL improves its debt-to-equity ratio

Logistic solution provider East West Holdings Limited (EWHL) has informed exchanges that it has re-paid Rs 260 million to the bankers. The company said that this has helped it reduce its overall debt by 24 per cent. 

The company said that it has disposed of one of the properties situated in Mumbai for this purpose.

"The Board of Directors of the Company at its meeting held on 24" June, 2021 had decided to disposed one of the property of the Company situated at “Time Square” Village Marol, Andheri Kurla Road, Andheri East, Mumbai - 400059 and utilize the proceeds for paying off it’s Loans from Bank/Financial Institution and reduce its debt by 20% to 30% and thereby improve its Debt-to-Equity ratio," the company said.

According to Ajaz Shafi Mohammed, Managing Director & CEO, this move will improve the debt-to-equity ratio and overall financial position of the company. 

"The improvement in financial of the Company will encourage the Management of the Company to focus on implanting its growth plan-and improve its revenue and profits thereby adding value to our investors and stakeholders," he added.