By 2013/14, Essar Steel had amassed a whopping Rs 37,559 crore in consolidated debt, and its interest payout in servicing it stood at Rs 4,580 crore during the year. While this had initially made bankers reluctant to cater to its working capital needs of Rs 4,000 crore to fund Vandrevala's ambitious revival plan, the $35 billion Essar Group's backing helped it bag the much-needed cash. Essar also had similar issues with Algoma. After an infusion of $300 million by the Group, the Algoma unit refinanced its liabilities and deleveraged its balance sheet by $200 million. It also reduced its cash interest by $47 million. The measures helped Algoma post a profit of CDN$26.8 million in the third quarter of 2013/14, compared with a net loss of CDN$38.6 million a year earlier.