<h1>Government Approves Rs. 29.91 Crore Loan-to-Equity Conversion for Andrew Yule to Improve Financial Health and Growth Prospects.</h1> The Cabinet Committee on Economic Affairs approved the conversion of a Rs. 29.91 crore Working Capital Term Loan from Bank of Baroda into equity shares of Andrew Yule & Co. Ltd. as a preferential issue. This move aims to reduce debt servicing costs by Rs. 2.86 crore annually, improve the company's debt-equity ratio, and enhance its balance sheet. The conversion, based on SEBI guidelines, is expected to boost Andrew Yule's growth, profitability, and share price. Established in 1863, Andrew Yule became a Public Sector Enterprise in 1979 and manufactures industrial and electrical equipment. The conversion is to be completed within three months.