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![viceroyresearch Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::812145753338548224.png) Viceroy [@viceroyresearch](/creator/twitter/viceroyresearch) on x 46.3K followers
Created: 2025-07-21 03:53:03 UTC

If $HZL's dividend remains the same as last year, we estimate HZL will incur an annual FCF shortfall of at least ₹5,000 crore ($580m) and must be funded by moredebt.

Disclosures suggest $HZL incurred ₹2,000 crore ($232m) of new debt in Q1 FY26. 5/


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947142755555143766/c:line.svg)

**Related Topics**
[debt](/topic/debt)
[$232m](/topic/$232m)
[$hzl](/topic/$hzl)
[$580m](/topic/$580m)
[$hzls](/topic/$hzls)

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