Stockrabit · Analysts
Questions across 85 calls

Amit Murarka

Axis Capital

ACC Limited

ACC Limited CC-Dec24.pdf · 2025-01-29
Yes. So just on the operating performance, frankly, like adjusted for incentives, it seems like quite a weak quarter operationally and in terms of EBITDA per ton, it's only INR537 per ton, if I just remove the onetime incentive in the numbers. So just wondering why the performance has dropped so much sequentially like it is lower realization as well as higher costs, so just wondering about the numbers here.
And -- but realization is also down Q-o-Q. So, I was a bit surprised with that also because we know that there were price hikes in December, and January. I mean industry has seen improvement, but here both ACC and now even Ambuja has reported a Q-o-Q drop?
ACC Limited CC-Sep24.pdf · 2024-10-28
Thanks for the opportunity. Sir, my question is around right -of-use assets and the cash flow statement, there is an entry called payment of principal portion of lease liabilities. So this number seems to be quite high for ACC. Could you just help understand what is this -- the item and why is it so high for ACC?
Sure. ACC, It's like looking like a big number, I mean, it's almost INR 700 crores for the first half. So that was what I want to understand and although...

Indraprastha Gas Limited

Indraprastha Gas Limited CC-Dec24.pdf · 2025-01-28
So just wanted to check like has the drag from DTC buses now stopped? Or is that still impacting your numbers in Delhi?
Right. And also, I missed the comment on price hike. I think you mentioned the INR2 per SCM is needed to maybe go back to the INR7 to INR8 range. But lik e what is the thought process now on kind of making these price adjustments? Like is it basically the election factor? Or is there anything else? If you could just throw some light on that?

Indian Oil Corporation Limited

JK Cement Limited

JK Cement Limited CC-Jun24.pdf · 2024-07-20
So, the first question is on cost. Your other expenses as well as your raw material cost has dropped a lot in these quarters. Could you help understand what the reasons for this drop?
Also in the annual report , I think this time you have laid out a plan to do capacity heading for FY '29, FY '30 and you have laid out some units also , Muddapur and Orissa and all. So, could you just set up , I mean, explain the priorities as to what will be the order of expansions if you have any in mind?

Hindustan Petroleum Corporation Limited

Hindustan Petroleum Corporation Limited CC-Dec24.pdf · 2025-01-24
So, the first question was around the refinery. So, you said that you are looking at completion by the end of this year. So, the debt is currently not getting consolidated, I think because of JV structure as you mentioned earlier. Once it gets commissioned, do you start including the debt in your consol books or will it stay outside the books?
So, even post commissioning, you will not be consolidating results, it'll just be associate income or - ?

Bharat Petroleum Corporation Limited

SHREE CEMENT LIMITED

Steel Authority of India Limited

Steel Authority of India Limited CC-Sep24.pdf · 2024-11-08
So just on rails notional price booking, just wanted to understand generally how do you do it. Like typically, let's say, if pricing is going up, is it also possible in that phase that there is overbooking of rails realization and then there is, let's say, some write-back that happens later? Is that also possible? Or you always book it on a conservative basis?
Understood. So also to understand, let's say, the notional price, that ad hoc price that railways would have shared with you, let's say that price is actually higher than the current market trends. So would you kind of then advise the railways about it and accordingly book the realization at a lower price? Or where you look now?

Ambuja Cements Limited

Ambuja Cements Limited CC-Sep24.pdf · 2024-10-28
Thanks for the opportunity. Sir, my question is around right -of-use assets and the cash flow statement, there is an entry called payment of principal portion of lease liabilities. So this number seems to be quite high for ACC. Could you just help understand what is this -- the item and why is it so high for ACC?
Sure. ACC, It's like looking like a big number, I mean, it's almost INR 700 crores for the first half. So that was what I want to understand and although...

Mahanagar Gas Limited

Mahanagar Gas Limited CC-Sep24.pdf · 2024-10-25
My first question is on this APM gas allocation reduction. So I understand that there's a change in classification of the APM gas by ONGC, which has led to this. My thought was that if all the new production is going to come from -- I mean, it's going to c ome from the wells, which will be priced higher, does it mean that the $6.5 gas that comes to you will keep falling now every quarter from even the current levels? So could you just help understand that?
No, but the new production that comes in will be from the newer wells, which do not qualify under the $6.5 gas. So even if you get the domestic gas, it will all be higher priced at, let's say, $9 or so. Is that understanding correct?

JSW Steel Limited

JSW Steel Limited CC-Sep24.pdf · 2024-10-25
Yes. So, my question is around the overseas businesses. So, like I think second half of last year and earlier this year also, we are seeing better profitabili ty coming in from Aferpi as well as Plate & Pipe Mill. So , could you just help us understand as to why things have deteriorated so much and is this a new normal situation?
No, I'm not looking for a number. I'm just trying to understand like you did about $100 million EBITDA in the Plate & Pi pe Mill in 2023 and about $110 million in 2024 and versus that offlate...
JSW Steel Limited CC-Mar24.pdf · 2024-05-17
On the expansion front, Vij ayanagar and BPSL. Just wanted to understand, it seems like the ramp-up guidance seems to have been delayed to Q3 or earlier understanding was that commission by Marc h and then probably ramp up in Q1, Q2. So , is it because of the mechanical completion being delayed a bit or it's because of the market situation that the ramp- up guidance is going to Q3 now?
Got it. Also like for Dolvi 3, would you have the land acquired, because I thought that land was going to be an issue going beyond 10 million tonnes or do you think you sorted that out?

UltraTech Cement Limited

UltraTech Cement Limited CC-Sep24.pdf · 2024-10-21
So the first question is on the fuel cost. So you had guided for a normalization of fuel cost by the Q3. And it's good to see a sharp drop in Q2 itself. So could you help understand like in Q3 or by Q4, what could be the expected fuel cost when you kind of normalize back to the spot cost level?
Sure. And also on your cost. So I see that there's a sharp jump in employee costs. I know you do annual increments from Q2, but it's almost a 24% Q-o-Q jump. So is there any one-off, one-time bonus or anything like that?

Dalmia Bharat Limited

Dalmia Bharat Limited CC-Sep24.pdf · 2024-10-21
My first question is on capex. So I believe you have cut down your capex guidance from about INR3,500 crores to INR4,000 crores earlier to INR3,300 crores now. I mean, the H1, you spent even lower than that run rate. Now my understanding is that in North East, the guided capex is about INR3,600 crores with commissioning of Q4 FY'25. So are we running behind schedule on the North East project? And could you refresh the timeline of both grinding and clinker commissioning in North East?
How much is already spent on the project?
Dalmia Bharat Limited CC-Jun24.pdf · 2024-07-19
Hi thanks for the opportunity. So my first question is around JPA. So with this development of it going into NCLT what will be the tolling arrangement going ahead? Will you continue with it and will the terms be the same that is the first thing I wanted to understand?
And also on the expansion program so you have a capacity target of – interim target of 75 and long-term of 110- 130. So by when do you expect, or can we think of more announcements on the expansion from now?

Petronet LNG Limited