A couple of questions from my side. For the Cables segment, can you split out between the value and volume growth in this quarter? And how has it different in wires and cables?
Sure. And in renewables, would it be more like volatile or the quarterly run rate is something that we can maintain? And at what top line level we can see more insourcing than outsourced model?
Congratulations on a good set of numbers. A couple of questions. Can you throw some light on the mid-Japanese port premium that we are seeing? It has rocketed up? And how do you see that panning out? And are we better off more in the export market than domestic as of today?
Sure. And secondly, do you have a peak net debt number in mind? I understand you have a net debt-to-EBITDA number in mind, but absolute net debt number, do you have something in mind on that?
I have two questions. First, Mr. Pai, if you can explain what is happening in the MJP premium market, while LME is holding up much better, MJP has kind of collapsed. So what exactly is driving this weakness?
Sure. Second question is to Steve. If you can remind us again the beverage can sheet market in U.S. So what is the demand? What is the import like? And would there be enough demand for the additional 600 kt Phase 2 that we are planning at Bay Minette?
Hi. Thanks very much. I have a couple of questions. First, if you can throw some light on the pricing of PCBs, both globally and India, given that the cost inflation would have been felt by everyone across the geographies?
No, my question is, is the price increase that has happened globally and also in India not enough to offset the cost inflation?
Two questions. First, when we look at your guidance of 13% to 15%, that implies a mid-single- digit kind of growth for RACs in fourth quarter. So would you still think that the industry would actually end up being flattish or negative in the fourth quarter as a result?
Sure. Thank you. And -- sorry.
Sorry for harping on the margins at Electronics again. So if I just do the back calculation number, it means that fourth quarter for Electronics, we can see more like a mid -teen kind of margin because we get the back rate for the cost inflation over there. So would it be very lumpy in fourth quarter given the third quarter is also going to be quite weak?
Sure. And based on your current estimate, what do you think the associate or JV loss could look like in FY '27?
I have two questions. Post HKC, sorry, post Vivo, you would have something around 55 million, 57-odd million smartphone. Let's say, we hit this run rate by FY28 -- at some point in FY28, and that would imply more than 50% market share of the outsourced market in India. How do we see the smartphone volumes growth post that?
So you can gain market share further in the domestic market as well?
Hi, sir. Thanks for the opportunity. One question on the realization for mobile phones as we ramp up our volumes from 28 to 42 and then let's to 60 plus . Given the brand mix that you see, do you think there is a scope for realization pricing as well or those remain probably still.
Sure. And my second question is on the new business, that's on industrial EMS, any update on that? Where are we? What kind of targets that you have over the next 3 to 5 years?
A couple of questions. Given that our flat steel exposure is rising, what kind of end markets are we tracking in terms of segments? Is it more autos, discretionary? What kind of end markets are we already talking to?
So, do we need some kind of approvals from the consumers on these or fresh approvals from the consumers on these? Or what we have is good enough for now?
A couple of questions. What was the pellet sales for the full year?
No meaningful sales we do . Thank you. That is helpful. Second, can we expect the exit production run rate? I know you have given a guidance of the full year volume, but can we expect that the exit production run rate for the key upstream capacities, BF, BOF would be in line with the nameplate capacity or ramp-up would still go through in FY27?
Hi sir, thank you for the opportunity. Couple of questions.
Indrajit Agarwal from CLSA. Sir first, on pricing, can you indicate how the trends have been so far in January and heading into February.
A couple of questions. First, the industrial revenues look to have fallen this quarter Y-o-Y if you do a back of the envelope calculation. So, what has driven that? And second, just a clarification. Of the INR1,700 crores top line expected in 4Q, INR300 crores is smart metering. Is that correct?
Congratulations on a good set of numbers. I have just one question. Of the capex that you announced or highlighted for OSAT and PCB, INR3,400 crores and INR1,400 crores, how much will come from the government? And what will be the time line of receipt of that amount? So is it that we pay out the initial amount totally by ourselves and there's a lag in when we get it from the government?
I have 2 questions, sir. Sir, first, can you highlight what is the spot pet coke price versus the booking levels in 3Q?
Sure. This is helpful. And second, in 3Q versus, let's say, a 3% kind of price decline sequentially, how would you split it between trade and nontrade? Was non-trade drop much sharper?
Two questions. First, congratulations on such low capex per ton on the next leg of expansion. Now keeping that in mind and the cost-saving initiatives across the industry, how do you see the pricing environment or the intensity of taking prices up in the medium term among the players panning out?
Sure. This is helpful. Secondly, on industry demand, on your best estimate, how was the demand in second quarter? And do you think the earlier guidance of 6% to 7% industry growth for the full year is achievable?
I have 2 questions, sir. Sir, first, can you highlight what is the spot pet coke price versus the booking levels in 3Q?
Sure. This is helpful. And second, in 3Q versus, let's say, a 3% kind of price decline sequentially, how would you split it between trade and nontrade? Was non-trade drop much sharper?
Two questions. First, congratulations on such low capex per ton on the next leg of expansion. Now keeping that in mind and the cost-saving initiatives across the industry, how do you see the pricing environment or the intensity of taking prices up in the medium term among the players panning out?
Sure. This is helpful. Secondly, on industry demand, on your best estimate, how was the demand in second quarter? And do you think the earlier guidance of 6% to 7% industry growth for the full year is achievable?
Hi. Thank you for the opportunity. A couple of questions. Of the Rs. 150 to 200 cost savings, how much have we realized so far and what is still pending?
Sure. This is helpful. Second, I missed the CAPEX guidance for this year. What was it again?
I have a couple of questions. First, on aluminum, can you help us understand the other costs, the power cost, conversion costs, et cetera, how those will trend in the next couple of quarters? So, the point is, would the entire $50 reduction in alumina flow to cash cost or that could be offset by the other cost? Second is on the other assets of JPA, what kind of roadmap, what kind of plan do you have? Do you have a timeline in mind whether do you want to divest or do you actually want to operate those assets for some time? Third, a bookkeeping question, what is the current debt at VRL level?
Yes. That is helpful.
I have 3 questions. First, if you can elaborate a little bit more on what is troubling our Consumer business? Which product segment? And how is the current run rate in terms of exit? How do you look at it?
Yes. So what exactly is troubling our Consumer business? And how is the exit run rate versus what we have achieved for the full year?