The ability of India's top four steel companies to service their debt has hit the lowest level in five years.
Today's chart of the day shows how the interest coverage ratio at each of these companies - Tata Steel Ltd., JSW Steel Ltd., Jindal Steel and Power Ltd., and Steel Authority of India Ltd. has deteriorated.
Naveen Jindal-led JSPL's ratio is just 0.25, down sharply from 15 in 2012. The government-owned SAIL technically is not in a position to service its debt. It's interest coverage ratio is at negative 2.4.
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