Tata Teleservices (Maharashtra) has announced a significant reduction in its long-term borrowings for the financial year. The company reported a decrease of ₹600 crore in its outstanding long-term borrowings, bringing the total from ₹4,053 crore at the start of the financial year to ₹3,453 crore at the end.
The company also disclosed that it does not qualify as a large corporate. During the financial year, Tata Teleservices (Maharashtra) did not engage in any borrowing through the issuance of debt securities. Additionally, the highest credit rating achieved by the company was AA-.
These financial details were part of the company’s submission following its Board Meeting for Financial Results. The reduction in borrowings reflects the company’s efforts to manage its debt levels effectively.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).