Congratulations to the company on a strong set of numbers. I had two questions. One was, could you let us know what is your incremental cost of debt is at the moment? And the second question is pertaining to your upcoming perpetuals, has the company taken any plan of action to address these?
Questions across 9 calls
Abhiram Iyer
Deutsche Bank
UPL Limited
Adani Energy Solutions Limited
Hi, congrats to the company on a good set of results and thanks for taking my question. I just wanted to ask, with the Dahanu Power Sale in the previous call, you'd mentioned that some of that proceeds are going to go towards the reduction of debt. So, may I just quantify how much is the debt now at AEML, how much it's been reduced by? That was question one. And question two was, has the company been in progress on a plan for refinancing its upcoming bond? There is an ATSOL bond coming due in 2026. Any refinancing plan for that?
The second question was, you also have a USD public bond which is coming due in the wider transmission company at ATSOL in 2026. So, are there any plans towards refinancing this or coming back to the market for this?
Hi. Thank you for taking my questions. My first question was with respect to what, could you just let us know what's the current debt and cash positions at, Adani Energy Solutions Consolidated and at Adani Electricity Mumbai?
If you can give both, Consol and AEML, that would be useful?
Congrats for a good set of results. My first question was on the change in regulatory capital balance so we booked a reversal of about Rs.300 Crores in Q1 and then now this is down to Rs.180 Crores can you just help me understand why we sort of now under collecting back again with respect to what we had collected in 1Q that is question one, question two is more in lines of AEML debt could you provide us a gross debt number including all working capital loans and what is the cash balance at AEML, additionally is there any plans to provide support to the AEML bonds currently and what is your view on the current sort of rating outlook and how will it be resolved by?
Understood and with respect to as I asked is there any current plans to support the bonds in the market given by their pricing at, I believe that they do not currently reflect what AEML should be priced at, is there any plans from the company in that sense?
Sammaan Capital Limited
I just wanted to clarify a couple of points. One is on your NPA numbers, may I know what the difference is between what's declared on the financial statement that the NPA is about 3.4% gross and 2% net versus the presentation that's at 2.7% gross and 1.5% net?
Thank you for that. The second question is on your current incremental funding costs. Can you just enquire what if you say go to the loan market or the retail market at the moment, what would you see your current incremental cost of warranty? And what does that stand versus last quarter?
JSW Steel Limited
So I had a couple of questions. The first question was on the net debt move ment. Basically, we've seen those new loans taken are about INR13,000 crores, and we spent about like INR5,200 crores on capex. Is the remaining increase in debt primarily down to working capital increase? And can you please quantify that how much it would be?
Yes. Can you please give a breakup on how much would be the working capital increase?
So, what I was, first of all, just wanted to congratulate the results. The other question that I had was how are you looking forward to meet the capex requirements for the rest of the year as well as for FY25, given that are you still seeing conditions favorable for debt to be taken onshore or is the reduction in hedging costs making offshore debt more viable for you now?
Got it. And just another thing on your acquisition plans that you're sort of focused on with under recent reports, especially increasing your sourcing for c oking coal. Again, w ould the financing here would be looking, as you mentioned, the EC B route and the onshore liquidity or can we get any more thoughts on your plans there?
Adani Ports and Special Economic Zone Limited
Congrats on a good set of numbers. So my first question was to do with the Colombo port as well as the West Bengal greenfield project. What's the time line for these? How are you sort of putting in capex for these going forward in FY '24 -- sorry, FY '25 and FY '26? And the second question was primarily on the guidance. Again, I believe you may have addressed this last time around, but any particular reason why the guidance still remains the same despite sort of outperformance at the half yearly mark? Are we expecting a slowdown into the second half? Or this is more of the company being prudent and cautious in their outlook?
And just a follow-up on the first part. You mentioned that -- again, this is a JV with your equity partner who will be putting in equity as well. So broadly from the company's perspective, given the funding of around $550 million available, and I believe the total cost you mentioned would have -- was $750 million. So roughly $100 million outflow from the company's perspective, right, which is already included in the capex?
Vedanta Limited
Just a follow-on, on the previous question. You mentioned your PP is now going to reduce to 50%, which is why there will be a cash -- basically the total payments to the government of around 20 million per quarter. That's over and above the INR4,600 crores that you are going to -- that you had from the arbitration award this specific quarter? And also, what's the time frame for the INR4,600 crores to come in if this is not the $20 million, if this is over and above the $20 million?
Got it. So -- but from the margin -- so from my understanding, from a margin perspective, the higher margin will be seen this quarter, but you'd go back to the margin improving by that 20 million that you talked about from the next quarter onwards. However, from a cash flow perspective, give or take, INR1,000 crores, as you mentioned, would be getting reversed?