Stockrabit · Analysts
Questions across 12 calls

Amit Lahoti

Emkay

HEG Limited

HEG Limited CC-Feb26.pdf · 2026-02-11
Yes. Hi. Thanks for the opportunity and congratulations on a good set of numbers. Many of my questions have been answered. So, as we have settled contract for half of the volumes for this year, would it be fair to take third quarter spreads as the baseline assumption for electrode and needle coke pricing? So, basically, just in terms of gross splits, if they can sustain in the coming quarter?
Right. Got it. And then we did of course have about 50% tariff impact to US. Even if we take, let us say, 10% as the share of your exports into US, there has been a significant impact from that perspective. So, now with that going down to 18%, how much of incremental delta are we looking at, if you can quantify some numbers in terms of how much the impact was, and then how much it will be in the coming quarter?

National Aluminium Company Limited

National Aluminium Company Limited CC-Nov25.pdf · 2025-11-07
Yeah, thanks for the opportunity and congratulations on a good set of numbers. So, my first question is on Alumina, where we are doing the expansi on project. Are we on track to achieve commissioning in early FY '27 as per the previously guided plan?
Okay, my second question is we sold more volumes in Q2 than in Q1. What is our inventory management strategy here? Could we see more sales vol umes in Q3 as well, more than the production numbers?

Hindalco Industries Limited

Hindalco Industries Limited CC-Nov25.pdf · 2025-11-07
My first question is on Novelis. So with the implementation of tariffs in the U.S., clearly, the capex intensity and the cost of doing business has gone up. And we have 420,000 tons of volumes contracted for $1,000 margin. So for the remaining 180,000 tons, can we seek higher margin to pass through the tariff and capex inflation?
Okay. And then my second question, again on hedging. So see, in a way, the market waits for a good cycle for a long time. And when it actually comes, the companies are found on the short side of it through hedging. So how should one think about the investment case given that the upside is deliberately capped, how do we think about it?

Gravita India Limited

Gravita India Limited CC-Nov25.pdf · 2025-10-31
Two questions from my side. First on margins. We have consistently delivered higher lead margin compared to our INR19 to INR20 guidance per kg. At what point do we actually upgrade the sustainable guidance range? Is this increase in margin coming from India business or Africa?
Then second question on capacity commissioning time line. How close are we in commissioning lead capacity in Mundra and Phagi facilities. As from our last interaction, it was supposed to come sometime in the month of November, so are we there yet or is it going to take some more time?

Steel Authority of India Limited

Vedanta Limited

Vedanta Limited CC-Mar25.pdf · 2025-04-30
Thanks for the opportunity. Given that bauxite and alumina prices have come down significantly, how do we think about the benefit in terms of cost of production in FY '26 from the current cost of $2,000 per ton? I have seen the guidance, but if you can basically walk me down to how do we reach there. So that's my first question.
Yes, sure. Thank you. And my second question is on the updated timelines of Sijimali and coal mines commissioning. So, I sense that there has been some delay in Sijimali because in the last quarter it was supposed to be commissioned in Q2 of FY '26, and now it seems to have moved to Q3. So that is one. And then if you can outline the coal mine commissioning timeline.

Coal India Limited