New Delhi, Dec. 31 -- The Ramco Cements Ltd is following through on its commitment to pare non-core assets. On 22 December, it announced the sale of assets worth Rs.515 crore to Prestige Estates Projects Ltd. With this transaction, cumulative non-core asset monetization has reached Rs.1,017 crore, slightly exceeding the company's stated guidance of Rs.1,000 crore. Before the Prestige deal, Ramco had already monetized Rs.502 crore of non-core assets.

Why this matters

As of the end of September, Ramco carried a net debt of Rs.4,591 crore, with a debt-to-equity ratio of 0.6x and an interest coverage ratio of 3.23x. These metrics are manageable, but hardly comfortable for a company still navigating a capital-intensive capacity expansion pha...